National banking under the Federal Reserve System

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Monograph

Identifikator:: 1752239113

URN:: urn:nbn:de:zbw-retromon-128654

Document type:: Monograph

Author:: Walb, Ernst http://d-nb.info/gnd/104056207

Title:: Kameralwissenschaften und vergleichende Betriebswirtschaftslehre

Place of publication:: Köln

Publisher:: Müller

Year of publication:: 1927

Scope:: 42 S.

Digitisation:: 2021

Collection:: Economics Books

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BANKS AS AGENTS AND BROKERS FOR REAL ESTATE LOANS = DER the same provision of the Federal Reserve Act which makes it legal for certain national banks to act as insurance agents, a national bank located in any place the population of which does not exceed 5,000 (last decennial census) may also act as broker or agent for others in making or procuring loans on real estate, under the following provisions: (a) The real estate by which the loan negotiated is secured must be located within 100 miles of the place in which the bank is located. (b) The bank shall in no case guarantee either the principal or interest of such loan. (¢c) The bank may receive for such services a reasonable fee or commission. As is the case when a national bank acts as an insurance agent the powers conferred by the law may be exercised only under such regulations as are prescribed by the Comptroller of the Currency. Copies of these regula- tions are furnished by the Comptroller. | 88

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