12 U.S. Code § 356 - Purchase of commercial paper from member banks and sale of same
Every Federalreserve 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.
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.
LII has no control over and does not endorse any external Internet site that contains links to or references LII.