Volume 85
Public Law 92–45
To amend section 14(b) of the Federal Reserve Act, as amended, to extend for two years the authority of Federal Reserve banks to purchase United States obligations directly from the Treasury.
Approved July 2, 1971
Statutory text
AN ACT
To amend section 14(b) of the Federal Reserve Act, as amended, to extend for two years the authority of Federal Reserve banks to purchase United States obligations directly from the Treasury.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled.,
That section 14(b) of the Federal Reserve Act, as amended (12 U.S.C. 355), is amended by striking out “July 1, 1971” and inserting in lieu thereof “July 1, 1973” and by striking out “June 30, 1971” and inserting in lieu thereof “June 30, 1973”.
Approved July 2, 1971.