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

72 
APPENDIX 
DEPOSIT OF FUNDS OF FEDERAL LAND BANKS IN 
MEMBER BANKS—FEDERAL RESERVE BANKS AND 
MEMBER BANKS AUTHORIZED TO BUY AND SELL 
FARM LOAN BONDS 
Sections 5, 8, 13. and 27 of the Farm Loan Act, approved July 17, 
1916 
Spo. 5.— 
At least twenty-five per centum of that part of the 
capital of any Federal land bank for which stock is out- 
standing in the name of national farm loan associations 
shall be held in quick assets, and may consist of cash in 
the vaults of said land bank, or in deposits in member 
banks of the Federal reserve system, or in readily market- 
able securities which are approved under rules and regu- 
lations of the Federal Farm Loan Board: Provided, That 
not less than five per centum of such capital shall be 
nvested in United States Government bonds. 
GOVERNMENT DEPOSITARIES 
Sec. 6. That all Federal land banks and joint stock 
land banks organized under this Act, when designated for 
that purpose by the Secretary of the Treasury, shall be 
depositaries of public money, except receipts from cus- 
toms, under such regulations as may be prescribed by 
said 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. And the Secretary of the 
Treasury shall require of the Federal land banks and 
joint stock land banks thus designated satisfactory 
security, by the deposit of United States bonds or other- 
wise, for the safekeeping and prompt payment of the 
public money deposited with them, and for the faithful 
performance of their duties as financial agents of the 
Government. No Government funds deposited under 
the provisions of this section shall be invested in mort- 
race loans or farm loan bonds.
	        
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