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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Wd cir! 5 title: invest ig and idenc- ation, leben- under rities” troller tment . 88s80- f the tually anim- nount 28, or sub- ity of That > safe n the law n an ck of d 15 cept 0 its ymp- a of 'RTY hrir- DUTr~ 111 Pe dd ED — wth APPENDIX Third. Such as shall be conveyed to it in satisfaction of debts previously contracted in the course of its dealings. Fourth. Such as it shall purchase at sales under judg- ments, decrees, or mortgages held by the association, or shall purchase to secure debts due to it. But no such association shall hold the possession of any real estate under mortgage, or the title and possession of any real estate purchased to secure any debts due to it, for a longer period than five years. CAPITAL REQUIREMENTS OF NATIONAL BANKS Section 5138, Revised Statutes, as amended by the acts of March 14, 1900, and February 25, 1927 Sec. 5138. No national banking association shall be organized with a less capital than $100,000, except that such associations with a capital of not less than $50,000 may, with the approval of the Secretary of the Treasury, “6 organized in any place the population of which does 10t exceed six thousand inhabitants, and except that such associations with a capital of not less than $25,000 May, with the sanction of the Secretary of the Treasury, de organized in any place the population of which does not exceed three thousand inhabitants. No such 1ssociation shall be organized in a city the population of which exceeds fifty thousand persons with a capital of less than $200,000, except that in the outlying districts of such a city where the State laws permit the organiza- tion of State banks with a capital of $100,000 or less, national banking associations now organized or hereafter organized may, with the approval of the Comptroller of the Currency. have a capital of not less than $100.000. NATIONAL BANKS AS DEPOSITARIES OF PUBLIC MONEYS Section 5153, Revised Statutes, as amended by acts of March 3, 1901, March 4, 1907, and June 25, 1930 Sec. 5153. All national banking associations, desig- 1ated for that purpose by the Secretary of the Treasury, shall be depositaries of public money, under such regula- tions as may be prescribed by the Secretary; and they may also be employed as financial agents of the Government; and they shall perform all such reasonable duties, as depositaries of public money and financial agents of the Government, as may be required of them. The Secretary 41632°—31—6 75

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