U.S.C. Title 12 - BANKS AND BANKING 12 U.S.C. United States Code, 2024 Edition Title 12 - BANKS AND BANKING CHAPTER 3 - FEDERAL RESERVE SYSTEM SUBCHAPTER IX - POWERS AND DUTIES OF FEDERAL RESERVE BANKS Sec. 356 - Purchase of commercial paper from member banks and sale of same From the U.S. Government Publishing Office, www.gpo.gov §356. Purchase of commercial paper from member banks and sale of same Every Federal reserve bank shall have power to purchase from member banks and to sell, with or without its indorsement, bills of exchange arising out of commercial transactions, as hereinbefore defined. (Dec. 23, 1913, ch. 6, §14(c), 38 Stat. 264.) Editorial Notes Codification Section is comprised of subsec. (c) of section 14 of act Dec. 23, 1913. For classification to this title of remainder of section 14, see Codification note under section 353 of this title.
12 U.S.C. § 356
§356. Purchase of commercial paper from member banks and sale of same
Edition 2024