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2017 US Code
Title 12 - Banks and Banking
Chapter 3 - Federal Reserve System
Subchapter IX - Powers and Duties of Federal Reserve Banks
Sec. 356 - Purchase of commercial paper from member banks and sale of same
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| 12 U.S.C. § 356 (2017) |
| §356. Purchase of commercial paper from member banks and sale of same |
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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. |
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(Dec. 23, 1913, ch. 6, §14(c), 38 Stat. 264.) |
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CODIFICATION
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. |
| United States Code, 2012 Edition, Supplement 5, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 3 - FEDERAL RESERVE SYSTEM SUBCHAPTER IX - POWERS AND DUTIES OF FEDERAL RESERVE BANKS Sec. 356 - Purchase of commercial paper from member banks and sale of same |
| section 356 |
| 2017 |
| January 12, 2018 |
| No |
| standard |
| 38 Stat. 264 |
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