{"data":{"id":"us/12-cfr-270.3","jurisdiction":"us","citation":"12 CFR 270.3","heading":"Governing principles.","body":"As required by section 12A of the Federal Reserve Act, the time, character, and volume of all purchases and sales of obligations in the open market by Federal Reserve banks are governed with a view to accommodating commerce and business and with regard to their bearing upon the general credit situation of the country.","path":["Title 12—Banks and Banking","CHAPTER II—FEDERAL RESERVE SYSTEM","SUBCHAPTER B—FEDERAL OPEN MARKET COMMITTEE","PART 270—OPEN MARKET OPERATIONS OF FEDERAL RESERVE BANKS"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"0d8871c538d3adc677d74fe1e3cbb6c625bac1f11caea85bbd7ec61b773ce61f","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-270.2","next":"us/12-cfr-270.4"},"notice":"GroundRules: Original legal text. Not legal advice."}