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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.