There Is a Newer Version
of
the U.S. Code
2012 U.S. Code
Title 12 - Banks and Banking
Chapter 3 - FEDERAL RESERVE SYSTEM (§§ 221 - 522)
Subchapter IX - POWERS AND DUTIES OF FEDERAL RESERVE BANKS (§§ 341 - 364)
Section 356 - Purchase of commercial paper from member banks and sale of same
POWERS AND DUTIES OF FEDERAL RESERVE BANKS - 12 U.S.C. § 356 (2012)
§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.)
CodificationSection 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.
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the U.S. site. Please check official sources.
