(a)General. The purchase of open accounts is a part of the business of banking and within the power of a national bank.
(b)Export transactions. A national bank may purchase open accounts in connection with export transactions; the accounts should be protected by insurance such as that provided by the Foreign Credit Insurance Association and the Export-Import Bank.
Title 12 published on 2014-01-01
The following are only the Rules published in the Federal Register after the published date of Title 12.
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This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.