[Code of Federal Regulations]
[Title 12, Volume 3]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR270.3]

[Page 850]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 270--OPEN MARKET OPERATIONS OF FEDERAL RESERVE BANKS--Table of Contents
 
Sec. 270.3  Governing principles.

    As required by section 12A of the Federal Reserve Act, the time, 
character, and volume of all purchases and sales of obligations in the 
open market by Federal Reserve banks are governed with a view to 
accommodating commerce and business and with regard to their bearing 
upon the general credit situation of the country.