Federal Reserve Act, Section 5: member banks hold stock in their regional Reserve Bank, and those shares cannot be sold, transferred or pledged. The stock is set by law and publicly documented, not ordinary private shares.
shall not be transferred or hypothecated.
Federal Reserve Act, Section 5: member banks hold stock in their regional Reserve Bank, and those shares cannot be sold, transferred or pledged. The stock is set by law and publicly documented, not ordinary private shares.