12 U.S. Code § 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.

Source

(Dec. 23, 1913, ch. 6, § 14(c),38 Stat. 264.)
Codification

Section is comprised of subsec. (c) ofsection 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.

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12 CFR - Banks and Banking

12 CFR Part 201 - EXTENSIONS OF CREDIT BY FEDERAL RESERVE BANKS (REGULATION A)

 

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