2)
2)
—_ =
ET
No bank that is a member of the Federal Reserve Systknay keep FL
on deposit with any state bank or trust company whith , 3% a i
member of the system, a sum exceeding 10 per cent. of Ha LY id
capital and surplus. No member bank may act as the medium or
agent of a non-member bank in applying for or receiving discounts
from the Federal Reserve Bank, except by permission of the Federal
Reserve Board. The Board has ruled that except in emergency, it
will not grant permission to member banks to rediscount paper of nonmember
 banks which are eligible for membership.

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