12 CFR 7.1007 – National Bank Acceptances
Current as of: 2024 | Check for updates
|
Other versions
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.
Terms Used In 12 CFR 7.1007
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC