View all text of Subchapter VI [§ 281 - § 290]
§ 289. Dividends and surplus funds of reserve banks; transfer for fiscal year 2000
(a) Dividends and surplus funds of reserve banks
(1) Stockholder dividends
(A) Dividend amountAfter all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders of the bank shall be entitled to receive an annual dividend on paid-in capital stock of—
(i) in the case of a stockholder with total consolidated assets of more than $10,000,000,000, the smaller of—(I) the rate equal to the high yield of the 10-year Treasury note auctioned at the last auction held prior to the payment of such dividend; and(II) 6 percent; and
(ii) in the case of a stockholder with total consolidated assets of $10,000,000,000 or less, 6 percent.
(B) Dividend cumulative
(C) Inflation adjustment
(2) Deposit of net earnings in surplus fund
(3) Limitation on surplus funds
(A) In general
(B) Transfer to the general fund
(b)1
1 See Codification note below.
Transfer for fiscal year 2000(1) In general
(2) Allocated by Fed
(3) Replenishment of surplus fund prohibited
(Dec. 23, 1913, ch. 6, § 7(a), (b), 38 Stat. 258; Mar. 3, 1919, ch. 101, § 1, 40 Stat. 1314; June 16, 1933, ch. 89, § 4, 48 Stat. 163; Pub. L. 103–66, title III, § 3002(a), Aug. 10, 1993, 107 Stat. 337; Pub. L. 103–325, title VI, § 602(d), Sept. 23, 1994, 108 Stat. 2291; Pub. L. 106–113, div. B, § 1000(a)(5) [title III, § 302], Nov. 29, 1999, 113 Stat. 1536, 1501A–304; Pub. L. 114–94, div. C, title XXXII, §§ 32202, 32203(a), Dec. 4, 2015, 129 Stat. 1739; Pub. L. 115–123, div. C, title II, § 30205, Feb. 9, 2018, 132 Stat. 127; Pub. L. 115–174, title II, § 217, May 24, 2018, 132 Stat. 1326.)