§ 359. Purchase and sale of acceptances of intermediate credit banks and agricultural credit corporations

239 words·~1 min read·/usc/title-12/section-359

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Every Federal reserve bank shall have power to purchase and sell in the open market, either from or to domestic banks, firms, corporations, or individuals, acceptances of Federal intermediate credit banks and of national agricultural credit corporations, whenever the Board of Governors of the Federal Reserve System shall declare that the public interest so requires.

(Dec. 23, 1913, ch. 6, § 14(f), as added Mar. 4, 1923, ch. 252, title IV, § 405, 42 Stat. 1480; amended Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)

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Sec. 14
open-market operations

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U.S. Code

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

9 references not yet in our index

Dec. 23, 1913, ch. 6, § 14(f)
Mar. 4, 1923, ch. 252
42 Stat. 1480
Aug. 23, 1935, ch. 614
49 Stat. 704
42 Stat. 1461
Pub. L. 86–230
73 Stat. 466
48 Stat. 292

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§ 359

Purchase and sale of acceptances of intermediate credit banks and agricultural credit corporations

Stat. Comp.×1

U.S.C.§ 353

ActDec. 23, 1913, ch. 6, § 14(f)

ActMar. 4, 1923, ch. 252

Stat.42 Stat. 1480

ActAug. 23, 1935, ch. 614

Stat.49 Stat. 704

Cites 10 · showing 6Cited by 1 across 1 source