§ 353. Purchase and sale of cable transfers, acceptances and bills

Statutory text

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.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1913
Pub. L. 63–6 § 14 · 38 Stat. 103
Enacted · 12 U.S.C. § 353
Dec. 23, 1913, ch. 6, § 14 (par.), 38 Stat. 264
Source evidence
Code source credit
Dec. 23, 1913, ch. 6, § 14 (par.), 38 Stat. 264

0 of 1 references resolved to an enrolled provision · 1 partial

Editorial Notes

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 Dec. 23, 1913. Subsecs. (a) to (g) of section 14 are set out as sections 354 to 359 and 348a of this title, respectively.

Statutory Notes and Related Subsidiaries

Change of Name

Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.

Credits

1913–1935 · 2 acts

1913Dec. 23, 1913, ch. 6, § 14 (par.), 38 Stat. 264
1935Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.

Show as published

(Dec. 23, 1913, ch. 6, § 14 (par.), 38 Stat. 264; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)