Title 12 — Banks and Banking
Chapter 3 — Federal Reserve System
§ 361. Bills receivable, bills of exchange, acceptances; regulations by Board of Governors
Statutory text
The discount and rediscount and the purchase and sale by any Federal reserve bank of any bills receivable and of domestic and foreign bills of exchange, and of acceptances authorized by this chapter, shall be subject to such restrictions, limitations, and regulations as may be imposed by the Board of Governors of the Federal Reserve System.
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.
Pub. L. 63–6 § 13 · 38 Stat. 103
Enacted · 12 U.S.C. § 361
Dec. 23, 1913, ch. 6, § 13 (par.), 38 Stat. 264
Source evidence
Code source credit
Dec. 23, 1913, ch. 6, § 13 (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 based on the tenth par. of section 13 of act , as amended. The tenth par. constituted the eighth par. of section 13 in 1916 (39 Stat. 753), became the ninth par. in 1923 (42 Stat. 1478), and became the tenth par. in 1932 (47 Stat. 715). For further details, see Codification notes under sections 342 to 344 of this title.
Statutory Notes and Related Subsidiaries
Change of Name
Section 203(a) of act , changed the name of the Federal Reserve Board to Board of Governors of the Federal Reserve System.
Credits
1913–1935 · 3 acts
- 1913Dec. 23, 1913, ch. 6, § 13 (par.), 38 Stat. 264
- 1916Sept. 7, 1916, ch. 461, 39 Stat. 753
- 1935Aug. 23, 1935, ch. 614, § 203(a), 49 Stat. 704.
Show as published
(Dec. 23, 1913, ch. 6, § 13 (par.), 38 Stat. 264; Sept. 7, 1916, ch. 461, 39 Stat. 753; Aug. 23, 1935, ch. 614, § 203(a), 49 Stat. 704.)