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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73 APPENDIX IN ND TLL POWERS OF FEDERAL LAND BANKS Sec. 13. That every Federal land bank shall have power, subject to the limitations and requirements of this Aet— 17. he ut- ns 1m yer et- aUu- 1at ho | yek ‘or he 118= hy as all of nt, the ind ory rer- the ful the der The Fifth. To deposit its securities, and its current funds subject to check, with any member bank of the Federal Reserve System, and to receive interest on the same as May be agreed. INVESTMENT IN FARM LOAN BONDS Sree. 27. That farm loan bonds issued under the pro- visions of this Act by Federal land banks or joint stock and banks shall be a lawful investment for all fiduciary and trust funds, and may be accepted as security for all dublic deposits. Any member bank of the Federal Reserve System may buy and sell farm loan bonds issued under the authority of this Act. Any Federal reserve bank may buy and sell farm loan donds issued under this Act to the same extent and sub- ject to the same limitations placed upon the purchase and sale by said banks of State, county, district, and munici- pal bonds under subsection (b) of section fourteen of the Federal Reserve Act approved December twnety-third, nineteen hundred and thirteen. DEPOSIT OF PROCEEDS OF SALE OF LIBERTY BONDS Section 7 of the First Liberty Bond Act, approved April 24, 1917 2 Sgc. 7. That the Secretary of the Treasury, in his dis- “retion, is hereby authorized to deposit in such banks and ‘rust companies as he may designate the proceeds, or any part thereof, arising from the sale of the bonds and cer- ificates of indebtedness authorized by this Act, or the bonds previously authorized as described in section four of this Act, and such deposits may bear such rate of interest and be subject to such terms and conditions as the Secretary of the Treasury may prescribe: Provided, That the amount so deposited shall not in any case exceed the amount withdrawn from any such bank or trust com- pany and invested in such bonds or certificates of indebt- 1 This section in effect amends see. 15, Federal Reserve Act, which relates to Gov- srnment deposits: also sec. 19, which prescribes reserve requirements of member banks.

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