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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PB - Lao FEDERAL RESERVE ACT Secs. 20, 21 dends unless and until the total balance required by law is fully restored. In estimating the balances required by this Act, the aet difference of amounts due to and from other banks shall be taken as the basis for ascertaining the deposits against which required balances with Federal reserve banks shall be determined. National banks, or banks organized under local laws, located in Alaska or in a dependency or insular posses- sion or any part of the United States outside the conti- nental United States may remain nonmember banks, and shall in that event maintain reserves and comply with all the conditions now provided by law regulating them; or said banks may, with the consent of the Reserve Board, become member banks of any one of the reserve districts, and shall in that event take stock, maintain reserves, and be subject to all the other provisions of this Act. Sec. 20. So much of sections two and three of the Act of June twentieth, eighteen hundred and seventy-four, antitled “An Act fixing the amount of United States notes, providing for a redistribution of the national- bank currency, and for other purposes,” as provides that the fund deposited by any national banking association with the Treasurer of the United States for the redemp- tion of its notes shall be counted as a part of its lawful reserve as provided in the Act aforesaid, is hereby repealed. And from and after the passage of this Act such fund of five per centum shall in no case be counted by any national banking association as a part of its law- ful reserve. BANK EXAMINATIONS wor tamended by Sec. 21. Section fifty-two hundred and forty, United Sn 21050 5 States Revised Statutes, is amended to read as follows: B10). The Comptroller of the Currency, with the approval of the Secretary of the Treasury, shall appoint examin- ers who shall examine every member bank ® at least twice in each calendar year and oftener if considered necessary: Provided, however, That the Federal Reserve Board may authorize examination by the State authorities to be accepted in the case of State banks and trust companies 1 Except banks admitted to membership in the system under authority of sec, 9 of this act, See sec. 9, ante,

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