As amended by acts of April 13, 1920 (41 Stat (c) To purchase from member banks and to sell, with or without its indorsement, bills of exchange arising out of commercial transactions, as hereinbefore defined; Rates of discount (d) To establish from time to time, subject to review and determination of the Board of Governors… Continue reading As amended by acts of April 13, 1920 (41 Stat