---
kind: "section"
citation: "12 C.F.R. § 141.5"
title: "12"
number: "141.5"
heading: "Commercial paper."
url: "https://uscodex.org/cfr/12/141.5"
---

# §141.5. Commercial paper.


The term commercial paper means any note, draft, or bill of exchange which arises out of a current transaction or the proceeds of which have been or are to be used for current transactions, and which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited.


## Notes

### Authority

Authority: 12 U.S.C. 1462a, 1463, 1464, 5412(b)(2)(B).

### Source

Source: 76 FR 48990, Aug. 9, 2011, unless otherwise noted.