# § 353. Purchase and sale of cable transfers, acceptances and bills
Any Federal reserve bank may, under rules and regulations prescribed by the Board of Governors of the Federal Reserve System, purchase and sell in the open market, at home or abroad, either from or to domestic or foreign banks, firms, corporations, or individuals, cable transfers and bankers’ acceptances and bills of exchange of the kinds and maturities by this chapter made eligible for rediscount, with or without the indorsement of a member bank.
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**Source Credit**: (Dec. 23, 1913, ch. 6, § 14 (par.), 38 Stat. 264; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)
## Editorial Notes
### References in Text
This chapter, referred to in text, was in the original “this Act”, meaning , , known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under and Tables.
### Codification
Section is comprised of introductory provisions of section 14 of act . Subsecs. (a) to (g) of section 14 are set out as sections 354 to 359 and 348a of this title, respectively.
## Statutory Notes and Related Subsidiaries
### Change of Name
Section 203(a) of act , changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.