Every Federal reserve bank shall have power to purchase from member banks and to sell, with or without its indorsement, bills of exchange arising out of commercial transactions, as hereinbefore defined.
Dec. 23, 1913, ch. 6, § 14(c)38 Stat. 264(, .)
Editorial Notes
Codification
section 353 of this titleSection is comprised of subsec. (c) of section 14 of act . For classification to this title of remainder of section 14, see Codification note under .