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APPENDIX
PROVISIONS OF OTHER ACTS OF CONGRESS WHICH
AFFECT THE FEDERAL RESERVE SYSTEM
INTERLOCKING BANK DIRECTORATES
Clayton Antitrust Act, approved October 15, 1914, as amended
by the Kern amendment, approved May 15, 1916, as amended
oe approved May 26, 1920, March 9, 1928, and March 2,
Src. 8. That from and after two years from the date
of the approval of this Act no person shall at the same
ime be a director or other officer or employee of more
than one bank, banking association, or trust company
organized or operating under the laws of the United
States, either of which has deposits, capital, surplus, and
undivided profits aggregating more than $5,000,000; and
Lo private banker or person who isa director in any
bank or trust company organized and operating under
the laws of a State, having deposits, capital, surplus,
and undivided profits aggregating more than $5,000,000,
shall be eligible to be a director in any bank or banking
association organized or operating under the laws of the
United States. The eligibility of a director, officer, or
smployee under the foregoing provisions shall be deter-
mined by the average amount of deposits, capital, sur-
plus, and undivided profits as shown in the official state~
ments of such bank, banking association, or trust com-
pany filed as provided by law during the fiscal year next
preceding the date set for the annual election of directors,
and when a director, officer, or employee has been elected
or selected in accordance with the provisions of this Act
it shall be lawful for him to continue as such for one
year thereafter under said election or employment.
No bank, banking association, or trust company or-
zanized or operating under the laws of the United States,
In any city or incorporated town or village of more than
two hundred thousand inhabitants, as shown by the last
—— er So RR. oti ——— rere
! Amended by secs. 25 and 25 (a) of Federal Reserve Act, as to corporations engaged
n foreign banking and financial operations, See ante, pp. 53 and 55.
