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.
Dec. 23, 1913, ch. 6, § 1338 Stat. 264Sept. 7, 1916, ch. 46139 Stat. 753Aug. 23, 1935, ch. 614, § 203(a)49 Stat. 704( (par.), ; , ; , .)
Editorial Notes
References in Text
act Dec. 23, 1913, ch. 638 Stat. 251section 226 of this titleThis chapter, referred to in text, was in the original “this Act”, meaning , , known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under and Tables.
Codification
39 Stat. 75342 Stat. 147847 Stat. 715Section 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 (), became the ninth par. in 1923 (), and became the tenth par. in 1932 (). 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.