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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gc. 2B end ocla” QUT 3erve nder 4, to 5 per ok of inder and, such ns as ares, 3 de- oun- total NNe and a] of for, neial deral eject 1} the and we or NAT |= reign con- roller bank tions ation tions ' the tions time hase shall daral BEC, 25 (a) FEDERAL RESERVE ACT 55 Reserve Board to restrict its operations or conduct its business in such manner or under such limitations and re- strictions as the said board may prescribe for the place or places wherein such business is to be conducted. If at any time the Federal Reserve Board shall ascertain that the regulations prescribed by it are not being complied with, said board is hereby authorized and empowered to Institute an investigation of the matter and to send for Persons and papers, subpcena witnesses, and administer oaths in order to satisfy itself as to the actual nature of the transactions referred to. Should such investigation tesult in establishing the failure of the corporation in question, or of the national bank or banks which may be stockholders therein, to comply with the regulations laid down by the said Federal Reserve Board, such national banks may be required to dispose of stock holdings in the said corporation upon reasonable notice. Every such national banking association shall conduct the accounts of each foreign branch independently of the accounts of other foreign branches established by it and of its home office, and shall at the end of each fiscal period transfer to its general ledger the profit or loss accrued at sach branch as a separate item. Any director or other officer, agent, or employee of any member bank may, with the approval of the Federal Re- serve Board, be a director or other officer, agent, or em- ployee of any such bank or corporation above men- tioned in the capital stock of which such member bank shall have invested as hereinbefore provided, without being subject to the provisions of section eight of the Act approved October fifteenth, nineteen hundred and fourteen, entitled “An Act to supplement existing laws against unlawful restraints-and monopolies, and for other Purposes.’”’ ¥# BANKING CORPORATIONS AUTHORIZED TO DO FOREIGN RANKING BUSINESS Sec. 25 (a). Corporations to be organized for the pur- i pr ay pose of engaging in international or foreign banking or i edb other international or foreign financial operations, or in a Dob.27, banking or other financial operations in a dependency or he Sn insular possession of the United States, either directly 2% 159 4 Sisk or through the agency, ownership, or control of local ———— ee —————— | ——— —— TTT # The Clavton Act. For text. see Appendix. p. 69.

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