73 
APPENDIX 
IN 
ND 
TLL 
POWERS OF FEDERAL LAND BANKS 
Sec. 13. That every Federal land bank shall have 
power, subject to the limitations and requirements of 
this Aet— 
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Fifth. To deposit its securities, and its current funds 
subject to check, with any member bank of the Federal 
Reserve System, and to receive interest on the same as 
May be agreed. 
INVESTMENT IN FARM LOAN BONDS 
Sree. 27. That farm loan bonds issued under the pro- 
visions of this Act by Federal land banks or joint stock 
and banks shall be a lawful investment for all fiduciary 
and trust funds, and may be accepted as security for all 
dublic deposits. 
Any member bank of the Federal Reserve System may 
buy and sell farm loan bonds issued under the authority 
of this Act. 
Any Federal reserve bank may buy and sell farm loan 
donds issued under this Act to the same extent and sub- 
ject to the same limitations placed upon the purchase and 
sale by said banks of State, county, district, and munici- 
pal bonds under subsection (b) of section fourteen of the 
Federal Reserve Act approved December twnety-third, 
nineteen hundred and thirteen. 
DEPOSIT OF PROCEEDS OF SALE OF LIBERTY BONDS 
Section 7 of the First Liberty Bond Act, approved April 24, 1917 2 
Sgc. 7. That the Secretary of the Treasury, in his dis- 
“retion, is hereby authorized to deposit in such banks and 
‘rust companies as he may designate the proceeds, or any 
part thereof, arising from the sale of the bonds and cer- 
ificates of indebtedness authorized by this Act, or the 
bonds previously authorized as described in section four 
of this Act, and such deposits may bear such rate of 
interest and be subject to such terms and conditions as 
the Secretary of the Treasury may prescribe: Provided, 
That the amount so deposited shall not in any case exceed 
the amount withdrawn from any such bank or trust com- 
pany and invested in such bonds or certificates of indebt- 
1 This section in effect amends see. 15, Federal Reserve Act, which relates to Gov- 
srnment deposits: also sec. 19, which prescribes reserve requirements of member banks.