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FEDERAL RESERVE ACT 
Approved December 23, 1913 (38 Stat., 251, Chap. 6) 
As amended August 4, 1914 (38 Stat., 682, Chap. 225); August 15, 1914 (38 Stat., 691, 
Chap. 252); March 3, 1915 (38 Stat., 958, Chap. 93); September 7, 1916 (39 Stat., 752, 
Chap. 461); June 21, 1917 (40 Stat., 232, Chap. 32); September 26, 1918 (40 Stat., 967, 
Chap. 177); March 3, 1919 (40 Stat., 1314, Chap. 101); September 17, 1919 (41 Stat., 
285, Chap. 60); December 24,.1919 (41 Stat., 378, Chap. 18); April 13, 1920 (41 Stat., 
550, Chap. 128); February 27, 1921 (41 Siat., 1145, Chap. 73); February 27, 1921 (41 
Stat., 1146, Chap. 75); June 14, 1921 (42 Stat., 28, Chap. 22); June 3, 1922 (42 Stat., 620, 
Chap. 205); July 1, 1922 (42 Stat., 821, Chap. 274); February 6, 1923 (42 Stat., 1223, 
Chap. 60); March 4, 1923 (42 Stat , 1454, Chap. 252): February 25, 1927 (44 Stat., 1224, 
Chap 191); May 7, 1928 (45 Stat., 492, Chap. 507); May 29, 1928 (45 Stat., 975, Chap. 
884); April 12, 1930 (46 Stat., 162, Chap. 140); April 17, 1930 (46 Stat., 170, Chap. 175); 
April 23, 1930 (46 Stat., 250, Chap. 207) ; June 26, 1930 (46 Stat., 814, Chap. 611); June 26, 
1930 (46 Stat., 814, Chap. 612); June 26, 1930 (46 Stat., 815, Chap. 614). 
An Act To provide for the establishment of Federal reserve 
banks, to furnish an elastic currency, to afford means of redis- 
counting commercial paper, to establish a more effective super- 
vision of banking in the United States, and for other purposes. 
Be it enacted by the Senate and House of Representatives 
of the United States of America in Congress assembled, 
That the short title of this Act shall be the “Federal 
Reserve Act.” 
Wherever the word “bank” is used in this Act, the 
word shall be held to include State bank, banking asso- 
ciation, and trust company, except where national banks 
or Federal reserve banks are specifically referred to. 
The terms “national bank’ and “national banking 
association” used in this Act shall be held to be synony- 
mous and interchangeable. The term ‘“member bank” 
shall be held to mean any national bank, State bank, or 
bank or trust company which has become a member of 
one of the reserve banks created by this Act. The. term 
“board” shall be held to mean Federal Reserve Board; 
the term ‘“district’’ shall be held to mean Federal reserve 
district; the term ‘reserve bank’ shall be held to mean 
Federal reserve bank. 
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FEDERAL RESERVE DISTRICTS 
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Sec. 2. As soon as practicable, the Secretary of the 
Treasury, the Secretary of Agriculture and the Comp- 
troller of the Currency, acting as “The Reserve Bank 
Organization Committee,’’ shall designate not less than 
eight nor more than twelve cities to be known as Federal 
reserve cities, and shall divide the continental United 
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