12 CFR 141.5
§ 141.5 Commercial paper.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 141.5, § 141.5 Commercial paper, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43678
- Permanent ID
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Full text
The term commercial paper means any note, draft, or bill of exchange which arises out of a current transaction or the proceeds of which have been or are to be used for current transactions, and which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.