United States Code (Last Updated: May 24, 2014) |
Title 12. BANKS AND BANKING |
Chapter 3. FEDERAL RESERVE SYSTEM |
SubChapter IX. POWERS AND DUTIES OF FEDERAL RESERVE BANKS |
§ 353. Purchase and sale of cable transfers, acceptances and bills
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Any Federal reserve bank may, under rules and regulations prescribed by the Board of Governors of the Federal Reserve System, purchase and sell in the open market, at home or abroad, either from or to domestic or foreign banks, firms, corporations, or individuals, cable transfers and bankers’ acceptances and bills of exchange of the kinds and maturities by this chapter made eligible for rediscount, with or without the indorsement of a member bank.
References In Text
This chapter, referred to in text, was in the original “this Act”, meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under section 226 of this title and Tables.
Codification
Section is comprised of introductory provisions of section 14 of act
Change Of Name
Section 203(a) of act