12 USC § 290 - Use of earnings transferred to the Treasury

---
identifier: "/us/usc/t12/s290"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 290 - Use of earnings transferred to the Treasury"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "290"
section_name: "Use of earnings transferred to the Treasury"
chapter_number: 3
chapter_name: "FEDERAL RESERVE SYSTEM"
subchapter_number: "VI"
subchapter_name: "CAPITAL AND STOCK OF FEDERAL RESERVE BANKS; DIVIDENDS AND EARNINGS"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Dec. 23, 1913, ch. 6, § 7(b), 38 Stat. 258; Pub. L. 103–66, title III, § 3002(c)(1), Aug. 10, 1993, 107 Stat. 337.)"
---


# § 290. Use of earnings transferred to the Treasury

The net earnings derived by the United States from Federal reserve banks shall, in the discretion of the Secretary, be used to supplement the gold reserve held against outstanding United States notes, or shall be applied to the reduction of the outstanding bonded indebtedness of the United States under regulations to be prescribed by the Secretary of the Treasury. Should a Federal reserve bank be dissolved or go into liquidation, any surplus remaining, after the payment of all debts, dividend requirements as hereinbefore provided, and the par value of the stock, shall be paid to and become the property of the United States and shall be similarly applied.

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**Source Credit**: (Dec. 23, 1913, ch. 6, § 7(b), 38 Stat. 258; Pub. L. 103–66, title III, § 3002(c)(1), Aug. 10, 1993, 107 Stat. 337.)

## Editorial Notes

### Codification

Section is comprised of subsec. (b) [formerly second undesignated par.] of section 7 of act . Subsec. (a) and another subsec. (b) [enacted by , , , 1501A–304] of section 7 are classified to . Subsec. (c) of section 7 is classified to .

### Amendments

1993— inserted section catchline.