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FEDERAL RESERVE BOARD

OPEN MARKET PURCHASES
OF BILLS OF EXCHANGE, TRADE ACCEPTANCES
AND BANKERS’ ACCEPTANCES
UNDER SECTION 14

REGULATION B
This Regulation has, since July 10, 1923, been continuously in effect
in the form printed herewith and is still in effect in such form
on the date of this reprint, May 15, 1939

UNITED STATES
GOVERNMENT PRINTING OFFICE
W ASH INGTON: 1930

L
This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

REGULATIONS OF THE FEDERAL RESERVE BOARD

R eg . B

purchased, provided that the acceptor is secured by the pledge of
such goods, and provided further, that the acceptance conforms
in other respects to the applicable requirements o f Regulation A.
SECTION III. STATEMENTS

A bill o f exchange, unless indorsed by a member bank, is not
eligible for purchase until a satisfactory statement has been fur­
nished o f the financial condition o f one or more o f the parties thereto.
A banker’s acceptance, unless accepted or indorsed by a member
bank, is not eligible for purchase until the acceptor has furnished
satisfactory statement o f its financial condition in form to be ap­
proved by the Federal reserve bank and has agreed in writing with
a Federal reserve bank to inform it upon request concerning the
transaction underlying the acceptance.

a

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Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102