250.160—Federal funds transactions.

(a) It is the position of the Board of Governors of the Federal Reserve System that, for purposes of provisions of law administered by the Board, a transaction in Federal funds involves a loan on the part of the selling bank and a borrowing on the part of the purchasing bank.
(b) [Reserved]

Code of Federal Regulations

( 12 U.S.C. 371c )

Code of Federal Regulations

[33 FR 9866, July 10, 1968, as amended at 67 FR 76622, Dec. 12, 2002]