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Sze, 13a FEDERAL RESERVE ACT 
JI 
88 may be prescribed by the Federal Reserve Board: 
Provided, however, That no member bank shall accept such 
drafts or bills of exchange referred to this paragraph 
for any one bank to an amount exceeding in the aggregate 
ten per centum of the paid-up and unimpaired capital 
and surplus of the accepting bank unless the draft or bill of 
exchange is accompanied by documents conveying or se- 
curing title or by some other adequate security: Provided 
further, That no member bank shall accept such drafts or 
bills in an amount exceeding at any time the aggregate of 
one-half of its paid-up and unimpaired capital and surplus. 
Sec. 13a. Upon the indorsement of any of its member ge, L; My 
banks, which shall be deemed a waiver of demand, notice, {37 a's so" 
and protest by such bank as to its own indorsement 
exclusively, any Federal reserve bank may, subject to 
regulations and limitations to be prescribed by the 
Federal Reserve Board, discount notes, drafts, and bills 
of exchange issued or drawn for an agricultural purpose, 
or based upon live stock, and having a maturity, at the 
time of discount, exclusive of days of grace, not exceed- 
Ing nine months, and such notes, drafts, and bills of 
xchange may be offered as collateral security for the 
Issuance of Federal reserve notes under the provisions of 
section 16 of this Act: Provided, That notes, drafts, and 
bills of exchange with maturities in excess of six months 
shall not be eligible as a basis for the issuance of Federal 
reserve notes unless secured by warehouse receipts or 
Other such negotiable documents conveying or securing 
title to readily marketable staple agricultural products 
or by chattel mortgage upon live stock which is being 
fattened for market. 
That any Federal reserve bank may, subject to regula- 
tions and limitations to be prescribed by the Federal 
Reserve Board, rediscount such notes, drafts, and bills for 
any Federal Intermediate Credit Bank, except that no 
Federal reserve bank shall rediscount for a Federal Inter- 
mediate Credit Bank any such note or obligation which 
bears the indorsement of a nonmember State bank or trust 
company which is eligible for membership in the Federal 
reserve system, in accordance with section 9 of this Act. 
Any Federal reserve bank may also buy and sell 
debentures and other such obligations issued by a Federal 
Intermediate Credit Bank or by a National Agricultural 
Credit Corporation, but only to the same extent as and