The Federal reserve act (approved December 23, 1913) as amended to March 4, 1931

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Monograph

Identifikator:: 1856431436

URN:: urn:nbn:de:zbw-retromon-262738

Document type:: Monograph

Title:: The Federal reserve act (approved December 23, 1913) as amended to March 4, 1931

Place of publication:: Washington

Publisher:: United States Government Printing Office

Year of publication:: 1931

Scope:: ii, 170 Seiten

Digitisation:: 2022

Collection:: Economics Books

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c. 18 1ré- 1~ ks rq ng at ks nd nd ral lit k. ng ed 1d y ks he f~ ad te of cq 10 re “0 n o d ] Tr il CT +t oo or > A - k made shall be held subject to the orders of the Federal Reserve Board and shall be payable in gold coin or gold sertificates on the order of the Federal Reserve Board to any Federal reserve bank or Federal reserve agent at the Treasury or at the Subtreasury of the United States nearest the place of business of such Federal reserve bank or such Federal reserve agent: Provided, however, That any expense incurred in shipping gold to or from the Treasury or subtreasuries in order to make such payments, or as a result of making such payments, shall be paid by the Federal Reserve Board and assessed against the Federal reserve banks. The order used by the Fed- sral Reserve Board in making such payments shall be signed by the governor or vice governor, or such other officers or members as the board may by regulation prescribe. The form of such order shall be approved by the Secretary of the Treasury. The expenses necessarily incurred in carrying out these provisions, including the cost of the certificates or receipts issued for deposits received, and all expenses incident to the handling of such deposits shall be paid by the Federal Reserve Board and included in its assess- ments against the several Federal reserve banks. Gold deposits standing to the credit of any Federal reserve bank with the Federal Reserve Board shall, at the option of said bank, be counted as part of the lawful reserve which it is required to maintain against out- standing Federal reserve notes, or as a part of the reserve it is required to maintain against deposits. Nothing in this section shall be construed as amending section six of the act of March fourteenth, nineteen hun- dred, as amended by the acts of March fourth, nineteen hundred and seven, March second, nineteen hundred and sleven, and June twelfth, nineteen hundred and sixteen, nor shall the provisions of this section be construed to apply to the deposits made or to the receipts or certifi- cates issued under those acts. Sec. 17. So much of the provisions of section fifty-one Asamended by hundred and fifty-nine of the Revised Statutes of the ume 21, i? Go United States, and section four of the act of June twen- aay, To che tieth, eighteen hundred and seventy-four, and section sight of the act of July twelfth, eighteen hundred and eighty-two, and of any other provisions of existing stat- utes as require that before any national banking asso- SEC. 17 FEDERAL RESERVE ACT 13

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