12 CFR § 141.5 - Commercial paper.

---
identifier: "/us/cfr/t12/s141.5"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 141.5 - Commercial paper."
title_number: 12
title_name: "Banks and Banking"
section_number: "141.5"
section_name: "Commercial paper."
chapter_name: "COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY"
part_number: "141"
part_name: "DEFINITIONS FOR REGULATIONS AFFECTING FEDERAL SAVINGS ASSOCIATIONS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1462a, 1463, 1464, 5412(b)(2)(B)."
regulatory_source: "76 FR 48990, Aug. 9, 2011, unless otherwise noted."
cfr_part: "141"
---


# 141.5 Commercial paper.

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.