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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 rediscounting
 commercial paper, to establish a more effective supervision
 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 association,
 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 synonymous
 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 Comptroller
 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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