12 CFR 250.160 - Federal funds transactions.
(a) It is the position of the Board of Governors of the Federal Reserve System that, for purposes of provisions of law administered by the Board, a transaction in Federal funds involves a loan on the part of the selling bank and a borrowing on the part of the purchasing bank.
[33 FR 9866, July 10, 1968, as amended at 67 FR 76622, Dec. 12, 2002]
Title 12 published on 2014-01-01
no entries appear in the Federal Register after this date.