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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518 ed. YN- YYW as ty ht, at es he | ch ily ty gq’ of ix -h yr ns ad it ad ar 1g ill or 1 in al y uy nr 4 al fF i* 5 1. :h 1t or -g yi 3: QQ 3KC, 13 FEDERAL RESERVE ACT crowing out of domestic transactions shall in no event 3xceed fifty per centum of such capital stock and surplus. Any Federal reserve bank may make advances to its member banks on their promissory notes for a period not exceeding fifteen days at rates to be established by such Federal reserve banks, subject to the review and determination of the Federal Reserve Board, provided Such promissory notes are secured by such notes, drafts, bills of exchange, or bankers’ acceptances as are eligible for rediscount or for purchase by Federal reserve banks under the provisions of this Act, or by the deposit or pledge of bonds or notes of the United States.® Section fifty-two hundred and two of the Revised Stat- utes of the United States is hereby amended so as to read as follows: No national banking association shall at any time be indebted, or in any way liable, to an amount exceeding the amount of its capital stock at such time actually paid in and remaining undiminished by losses or otherwise, except on account of demands of the nature following: First. Notes of circulation. Second. Moneys deposited with or collected by the association. | Third. Bills of exchange or drafts drawn against money actually on deposit to the credit of the association, or due thereto. Fourth. Liabilities to the stockholders of the associa- ion for dividends and reserve profits. Fifth. Liabilities incurred under the provisions of the Federal Reserve Act. Sixth. Liabilities incurred under the provisions of the War Finance Corporation Act.” Seventh. Liabilities created by the indorsement of ac- cepted bills of exchange payable abroad actually owned by the indorsing bank and discounted at home or abroad.” Eighth. Liabilities incurred under the provisions of section 202 of Title II of the Federal Farm Loan Act, approved July 17, 1916, as amended by the Agricultural Credits Act of 1923.7 3 Or Treasury bills or certificates of indebtedness. See act approved June 17, 1929, Appendix, p. 75. 1 These three subparagraphs were added to sec. 5202, Revised Statutes, by the act of Apr, 5, 1918, by the act of Oct. 22, 1919, and by the act of Feb. 25, 1927, respectively. See Appendix, p. 85. 41632°—31—3 3

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