National banking under the Federal Reserve System

Bibliographic data

Monograph

Identifikator:: 1757542345

URN:: urn:nbn:de:zbw-retromon-135097

Document type:: Monograph

Title:: National banking under the Federal Reserve System

Place of publication:: New York

Publisher:: The National City Bank of New York

Year of publication:: 1927

Scope:: 154 S.

Digitisation:: 2021

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Reserve requirements

Collection:: Economics Books

RESERVE REQUIREMENTS [yen member bank in the Federal Reserve System is required ~ to keep on deposit at the Federal Reserve Bank of its district certain cash reserve balances which are designated in the paragraphs following. “Demand deposits,” within the meaning of the act, com- prise all deposits payable within 80 days; “time deposits” comprise all deposits payable after 30 days and all savings accounts and certifi- cates of deposit subject to not less than 30 days’ notice before pay- ment, and all postal savings deposits. 1. Reserve Requirements for Banks not in Reserve Cities'—Not less than 7 per cent. of the aggregate amount of demand deposits and 8 per cent. of its time deposits. 2. Reserve Requirements for Banks in Reserve Cities—Not less than 10 per cent. of demand deposits and 3 per cent. of time deposits. Exception: If located in the outlying districts of a reserve city or in territory added to such a city by extension of its corporate charter, the bank may upon the affirmative vote of five members of the Federal Reserve Board, maintain the reserve bal- ances specified in Paragraph 1 above. 3. Reserve Requirements for Banks in Central Reserve Cities—Not less than 13 per cent. of demand deposits and 3 per cent. of time deposits. If located in the outlying districts of a central reserve city or in territory added to such city by the extension of its corporate charter, the bank may, upon the affirmative vote of five members of the Federal Reserve Board, maintain the reserve balances specified in Paragraphs 1 or 2 above. A member bank’s balance at its Federal Reserve Bank may under certain conditions be checked against and withdrawn for the purpose of meeting existing liabilities. (See “Loans,” Paragraph 6, Page 63.) 10entral Reserve Cities—New York and Chicago. Reserve Cities—Boston, Albany, Brooklyn and Bronx, Buffalo, Philadelphia, Pittsburgh, Balti- more, Washington, Richmond, Atlanta, Savannah, Jacksonville, Birmingham, New Orleans, Dallas, El Paso, Fort Worth, Galveston, Houston, San Antonio, Waco, Little Rock, Louisville, Memphis, Nashville, Cincinnati, Cleveland, Columbus, Toledo, Indianapolis, Peoria, Detroit, Grand Rapids, Milwaukee, Mizneapolis, St. Paul, Cedar Rapids, Des Moines, Dubuque, Sioux City, St. Louis, Kansas City, Mo., St. Joseph, Lincoln, Omaha, Kansas City, Kans., Topeka, Wichita, Helena, Denver, Pueblo, Muskogee, Oklahoma City, Tulsa, Seattle, Spokane, Pores Los Angeles, Oak- and, San Francisco, Ogden, Salt Lake City. oy i OU

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