
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC353]

 
                       TITLE 12--BANKS AND BANKING
 
                    CHAPTER 3--FEDERAL RESERVE SYSTEM
 
        SUBCHAPTER IX--POWERS AND DUTIES OF FEDERAL RESERVE BANKS
 
Sec. 353. Purchase and sale of cable transfers, acceptances and 
        bills
        
    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.

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

                          Codification

    Section is comprised of opening par. of section 14 of act Dec. 23, 
1913. Subsecs. (a) to (e) of section 14 and subsec. (f) of section 14, 
as added Mar. 4, 1923, ch. 252, title IV, Sec. 405, 42 Stat. 1480, are 
set out as sections 354 to 359 of this title, respectively.

                         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.

                  Section Referred to in Other Sections

    This section is referred to in sections 263, 412 of this title.
