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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»-~ , dog APPENDIX of not more than three years. Any Federal Intermediate Credit Bank may in its discretion sell loans or discount: made under this section, with or without its indorsement (d) Rates of interest or discount charged by the Feders) Intermediate Credit banks upon such loans and dis counts shall be subject to the approval of the Federal Farm Loan Board. On the majority vote of the mem- bers of the Federal Farm Loan Board any Federal Inter- mediate Credit Bank shall be required to rediscount the discounted paper of any other Federal Intermediate Credit Bank at rates of interest to be fixed by the Federal Farm Loan Board. Tithe IT —NATIONAL AcricUuLTurRAL CrEDIT CORPO RATIONS 8 ae Sec. 203. (a) That each National Agricultural Credit Corporation shall have power, under such rules and regu: lation as the Comptroller of the Currency may prescribe— (1) To make advances upon, to discount, rediscount. or purchase, and to sell or negotiate, with or without it indorsement or guaranty, notes, drafts, or bills of ex- change, and to accept drafts or bills of exchange, which— (A) Are issued or drawn for an agricultural purpose, or the proceeds of which have been or are to be used for an agricultural purpose; (B) Have a maturity, at the time of discount, pur- chase, or acceptance, not exceeding nine months; and (C) Are secured at the time of discount, purchase, or acceptance by warehouse receipts or other like documents conveying or securing title to nonperishable and readily marketable agricultural products, or by chattel mort- gages or other like instruments conferring a first and paramount lien upon live stock which is being fattened for market, or on agricultural crops being grown for market. (2) To make advances upon or to discount, rediscount, or purchase, and to sell or negotiate with or without its indorsement or guaranty, notes secured by chattel mort- gages conferring a first and paramount lien upon maturing or breeding live stock or dairy herds, and having a EE ——— $ The section numbers under this title refer to sections of the Agricultural Credits Act of 1923,

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