Federal Reserve ActU.S. Government Printing Office, 1913 - 27 pages |
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Common terms and phrases
aforesaid application appointed approved authorized bank or banking bank or trust Bank Organization Committee bills of exchange board of directors branch banks candidate capital and surplus central reserve cities centum bonds centum per annum chairman circulating notes circulation privilege Comptroller Congress designated director of class discount elector expenses Federal Reserve Act Federal reserve agent Federal reserve bank Federal Reserve Board Federal reserve district Federal reserve notes five per centum foreign branches gold certificates lawful money liability maintain reserves member bank national banking Act national banking association national-bank notes nineteen hundred one-half per centum one-year gold notes organization certificate outstanding paid par value payable prescribed purchase purpose redemption rediscount Reserve Bank Organization reserve or central Revised Statutes rules and regulations Secretary Section fifty-one hundred secured six per centum stock and surplus stockholders subscribe thereafter thirty days thirty-six months three per centum tion Treasury trust company vaults
Popular passages
Page 27 - or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph,, or part thereof directly involved in the controversy in which such judgment shall have been rendered. SEC. 30. The right to amend, alter, or repeal this Act is hereby expressly reserved. Approved, December 23, 1913.
Page 17 - amended so as to read as follows: No national banking association shall at any time be indebted, or in any way liable, to an amount exceeding the amount of its capital stock at such time actually paid hi and remaining undiminished by losses or otherwise, except on account of demands of the nature following: Any
Page 3 - 7837.] An Act To provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other
Page 15 - (e) To add to the number of cities classified as reserve and central reserve cities under existing law in which national banking associations are subject to the reserve requirements set forth in section twenty of this Act; or to reclassify existing reserve and central reserve cities or to terminate their designation as such.
Page 7 - such Federal reserve bank. But no Federal reserve bank shall transact any business except such as is incidental and necessarily preliminary to its organization until it has been authorized by the Comptroller of the Currency to commence business under the provisions
Page 16 - bills of exchange issued or drawn for agricultural, industrial, or commercial purposes, or the proceeds of which have been used, or are to be used, for such purposes, the Federal Reserve Board to have the right to determine or define the character of the paper thus eligible for discount, within the meaning of this Act. Nothing in this Act contained shall
Page 10 - canceled and the member bank shall receive in payment therefor, under regulations to be prescribed by the Federal Reserve Board, a sum equal to its cash-paid subscriptions on the shares surrendered and one-half of one per centum a month from the period of the last dividend, not to exceed the book value thereof, less
Page 6 - acknowledged before a judge of some court of record or notary public; and shall be, together with the acknowledgment thereof, authenticated by the seal of such court, or notary, transmitted to the Comptroller of the Currency, who shall file, record and carefully preserve the same
Page 8 - fifteen days after the receipt of the said list, certify to the chairman his first, second, and other choices of a director of class A and class B, respectively, upon a preferential ballot, on a form furnished by the chairman of the board of directors of the Federal reserve bank of the district. Each elector shall make
Page 24 - shall be imprisoned not exceeding one year or fined not more than $5,000, or both; and may be fined a further sum equal to the money so loaned or gratuity given; and shall forever thereafter be disqualified from holding office as a national-bank examiner. No national-bank examiner shall perform