12 CFR 7.1007

§ 7.1007 National Bank Acceptances.

United States · 12 CFR — Banks and Banking · Status: effective

Cite this

Citation: 12 CFR 7.1007, § 7.1007 National Bank Acceptances, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/42953
Permanent ID: ys:prov:42953@1
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Full text

A national bank is not limited in the character of acceptances it may make in financing credit transactions. Bankers' acceptances may be used for such purpose, since the making of acceptances is an essential part of banking authorized by 12 U.S.C. 24.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.