Purchase and Sale by Federal Reserve System.—

Sec. 4.7. [12 U.S.C. 2158] Purchase and Sale by Federal Reserve System.—Any member of the Federal Reserve System may buy and sell bonds, debentures, or other similar obligations issued under the authority of this Act and any Federal Reserve bank may buy and sell such obligations to the same extent and subject to the same limitations placed upon the purchase and sale by said banks of State, county, district, and municipal bonds under section 355 of title 12, United States Code.