Übervölkertes Land

Bibliographic data

Monograph

Identifikator:: 1014415187

URN:: urn:nbn:de:zbw-retromon-22842

Document type:: Monograph

Author:: Landwehr, Ottokar

Title:: Übervölkertes Land

Place of publication:: Wien

Publisher:: Wilhelm Braumüller Universitäts-Verlagsbuchhandlung

Year of publication:: 1923

Scope:: 1 Online-Ressource (59 Seiten)

Digitisation:: 2018

Collection:: Economics Books

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te sy FEDERAL RESERVE ACT Bec. ¢ Federal reserve bank, and when a member bank volun- tarily liquidates it shall surrender all of its holdings of the capital stock of said Federal reserve bank and be released from its stock subscription not previously called. In either case the shares surrendered shall be canceled and the member bank shall receive in payment therefor, under regulations to be prescribed by the Federal Reserve Board, a sum equal to its cash-paid subscriptions on the shares surrendered and one-half of one per centum a month from the period of the last dividend, not to exceed the book value thereof, less any liability of such member bank to the Federal reserve bank. I" pondedby Sec. 6. If any member bank shall be declared insolvent Lam 45 and a receiver appointed therefor, the stock held by it in 207). said Federal reserve bank shall be canceled, without impairment of its liability, and all cash-paid subscrip- tions on said stock, with one-half of 1 per centum per month from the period of last dividend, if earned, not to exceed the book value thereof, shall be first applied to all debts of the insolvent member bank to the Federal Te- serve bank, and the balance, if any, shall be paid to the receiver of the insolvent bank. If any national bank which has not gone into liquida- tion as provided in section 5220 of the Revised Statutes (United States Code, title 12, section 181) and for which a receiver has not already been appointed for other lawful cause, shall discontinue its banking operations for a period of sixty days the Comptroller of the Currency may, if he deems it advisable, appoint a receiver for such bank. The stock held by the said national bank in the Federal reserve bank of its district shall thereupon be canceled and said national bank shall receive in payment therefor, under regulations to be prescribed by the Federal Reserve Board, a sum equal to its cash-paid subscriptions on the shares canceled and one-half of 1 per centum a month from the period of the last dividend, if earned, not to exceed the book value thereof, less any liability of such national bank to the Federal reserve bank. Whenever the capital stock of a Federal reserve bank is reduced either on account of a reduction in capital stock of any member bank or of the liquidation or insol- vency of such bank or on account of the appointment of a receiver for a national bank following discontinuance of

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