The Federal reserve act (approved December 23, 1913) as amended to March 4, 1931

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Monograph

Identifikator:: 1856431436

URN:: urn:nbn:de:zbw-retromon-262738

Document type:: Monograph

Title:: The Federal reserve act (approved December 23, 1913) as amended to March 4, 1931

Place of publication:: Washington

Publisher:: United States Government Printing Office

Year of publication:: 1931

Scope:: ii, 170 Seiten

Digitisation:: 2022

Collection:: Economics Books

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‘rom h of -alue ount ited rab, such ir of per alll oan, aid be the s1X ~tifi- the not tion and ued ep the ate the day unt “100 yrd- r of ank +1fi- ate, hall and the ab she uct aed der APPENDIX (2) The loan basis of any certificate at any time shall, for the purpose of this section, be an amount which is ot in excess of 90 per centum of the reserve value of the certificate on the last day of the current certificate year. The reserve value of a certificate on the last day of any Certificate year shall be the full reserve required on such certificate, based on an annual level net premium for twenty years and calculated in accordance with the American Experience Table of Mortality and interest it 4 per centum per annum, compounded annually. (h) No payment upon any note shall be made under this section by the Director to any bank, unless the note When presented to him is accompanied by an affidavit Made by an officer of the bank which made the loan, before a notary public or other officer designated for the Purpose by regulation of the Director, and stating that such bank has not charged or collected, or attempted to charge or collect, directly or indirectly, any fee or other Compensation (except interest as authorized by this Section) in respect of any loan made under this section by the bank to a veteran. Any bank which, or director, officer, or employee thereof who, does so charge, collect, or attempt to charge or collect any such fee or compen- Sation, shall be liable to the veteran for a penalty of $100, to be recovered in a civil suit brought by the veteran. The Director shall upon request of any bank or veteran furnish a blank form for such affidavit. _ (i) The Director of the United States Veterans’ Bureau Is authorized, through such officers and at such regional offices, suboffices, and hospitals of the United States Veterans’ Bureau as he may designate, and out of the United States Government life insurance fund established by section 17 of the World War Veterans’ Act, 1924, as amended, to make loans to veterans upon their adjusted service certificates in the same amounts and upon the same terms and conditions as are applicable in the case of loans made under this section by a bank, and the pro- visions of this section shall be applicable to such loans; except that the rate of interest shall be 2 per centum per annum more than the rate charged at the date of the loan for the discount of ninety-day commercial paper under section 13 of the Federal Reserve Act by the Fed- eral reserve bank for the Federal reserve district in which 18 located the regional office, suboffice, or hospital of the 101

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