Statute · United States Code
12 U.S.C. § 356 — Purchase of commercial paper from member banks and sale of same
12 U.S.C. § 356
- Type
- Statute
- Source
- United States Code
- Jurisdiction
- Federal
- Date
- 2025-01-06
- Topic
- real-estate
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.
Citator
12 U.S.C. § 356 — Purchase of commercial paper from member banks and sale of same is in force in the current edition of the Code, and nothing recorded condemns it.
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.