Full text: The Federal reserve act (approved December 23, 1913) as amended to March 4, 1931

-~ 4 
APPENDIX 
fully covered by insurance, if it is customary to insure 
such staples, shall be subject under this section to 
limitation of 15 per centum of such capital and surplus 
in addition to such 10 per centum of such capital and 
surplus when the market value of such staples securing 
such obligation is not at any time less than 115 pe! 
centum of the face amount of such obligation, and to a? 
additional increase of limitation of 5 per centum of such 
capital and surplus in addition to such 25 per centum of 
such capital and surplus when the market value of such 
staples securing such additional obligation is not at any 
time less than 120 per centum of the face amount of 
such additional obligation, and to a further additional 
increase of limitation of 5 per centum of such capital 
and surplus in addition to such 30 per centum of such 
capital and surplus when the market value of such staples 
securing such additional obligation is not at any time less 
than 125 per centum of the face amount of such addi- 
tional obligation, and to a further additional increase of 
limitation of 5 per centum of such capital and surplus in 
addition to such 35 per centum of such capital and surplus 
when the market value of such staples securing such 
additional obligation is not at any time less than 130 
per centum of the face amount of such additional obliga- 
tion, and to a further additional increase of limitation of 
5 per centum of such capital and surplus in addition to 
such 40 per centum of such capital and surplus when the 
market value of such staples securing such additional 
obligation is not at any time less than 135 per centum of 
the face amount of such additional obligation, and to & 
further additional increase of limitation of 5 per centum 
of such capital and surplus in addition to such 45 per 
centum of such capital and surplus when the market value 
of such staples securing such additional obligation is not 
at any time less than 140 per centum of the face amount 
of such additional obligation, but this exception shall not 
apply to obligations of any one person, copartnership, 
association or corporation arising from the same trans- 
actions and/or secured upon the identical staples for 
more than ten months, 
(7) Obligations of any person, copartnership, associa- 
tion, or corporation in the form of notes or drafts secured 
by shipping documents or instruments transferring or 
securing title covering livestock or giving a lien on live-
	        
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