Index-digest of the Federal Reserve Act and Amendments: Together with Those Provisions of Other Acts which Affect the Federal Reserve System

Board of Governors of the Federal Reserve System (U.S.), United States. Federal Reserve Board

U.S. Government Printing Office, 1924 - 1346 pages

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whether direct or contingent other than bona fide	1

deposit liabilities exceeds the amount of such liability	2

permitted under the laws of the jurisdiction creating	3

same or exceeds twice the paid in and unimpaired capital	4

and surplus of such national bank State bank trust	5

company or savings institution No paper shall under	6

this section be purchased from or discounted for any other	7

corporation engaged in making loans for agricultural 8 purposes or for the raising breeding fattening or market	8

The Comptroller of the Currency shall have discretion	434

Credit Corporation or of any bank or trust company 22 which is a member of the Federal Reserve System to re 23 discount for such corporation ban...	453

charged by it for the discount or rediscount of 90day 26	454

committee such stenographers services to be rendered 18	490

at a cost not exceeding 1 25 per printed page The 19	501

30	502

Board On the majority vote of the members of the 33 Federal Farm Loan Board any Federal Intermediate 34 Credit Bank shall be required to redisco...	513

Board	536

upon real estate or by other securities under such regula	9

ing of live stock if the amount of such paper added	10

the aggregate liabilities of such corporation exceeds	11

amount of such liabilities permitted under the laws of	12

jurisdiction creating the same or exceeds ten times	13

paid in and unimpaired capital and surplus of such	14

corporation It shall be unlawful for any national bank	15

which is indebted to any Federal Intermediate Credit	16

Bank upon paper discounted or purchased under this	17

section to incur any additional indebtedness if by virtue	18

of such additional indebtedness its aggregate liabilities	19

direct or contingent will exceed the limitations herein	20

contained	21

c Loans advances or discounts made under this	22

section shall have a maturity at the time they are made	23

or discounted by the Federal Intermediate Credit Bank	24

of not less than six months nor more than three years	25

Any Federal Intermediate Credit Bank may in its dis	26

cretion sell loans or discounts made under this section	27

with or without its indorsement	28

at any time prior to July 1 1922	29

all bonds or notes of the Corporation then outstanding	31

The regulations of the Comptroller of the Currency may	32

of the United States of America in Congress assembled	33

That the time during which the War Finance Corporation	34

may make advances and purchase notes drafts bills	35

exchange or other securities under the terms of sections	36

21 22 23 and 24 of the War Finance Corporation act	37

securities and with regard to protection supervision	38

Provided That if any application for	39

By the act of February 20 1924 the time during which the War Finance Corporation	40

might make advances or purchases under this section was extended to and including	41

November 30 1924 with a proviso that applications for such advances or purchases duly 43 received on or before this date might be acted upon at an...	42

1	105

2	106

13	107

MARCH 4 1923	127

before January 1 1923 or beyond three years from the 25	135

FEDERAL INTERMEDIATE CREDIT BANKS	136

when chartered and established shall have power subject 8	147

Any Federal reserve bank may with the approval of 14 the Federal Reserve Board use any obligation or paper	210

porations having an authorized capital stock of 1000000	212

may be imposed by the Federal Farm Loan Board not 10	245

or over may be organized under the provisions of this 16 title to exercise all the powers enumerated in section 203	246

poration or received from time to time in the course of 36	262

for the raising breeding fattening or marketing of live 22	267

issued by any other Federal Intermediate Credit Bank and 25	275

d Rates of interest or discount charged by the Federal	312

charge or collect directly or indirectly any fee or other 15	329

charge or collect either directly or indirectly any fee 4 or other compensation for assisting in any manner a 5 veteran or his dependents in obtaining a...	337

of the Currency for permission to invest an amount not 18 exceeding in the aggregate 10 per centum of its paidin 19 capital stock and surplus in the ...	345

porations shall have powers	350

1 Upon the indorsement of any National Agricultural	351

live stock if the notes or other such obligations repre 30	378

notice of the death present them to the Director who 17 shall thereupon cancel the note but not the certificate 18 and pay to the bank in full satisfacti...	423

tor within fifteen days after the notice such interest shall 25 be only up to the fifteenth day after such notice The 26 Director shall deduct the amount ...	424

or rediscount unless it has at the time of discount or 22	429

Intermediate Credit banks upon such loans and discounts 31 shall be subject to the approval of the Federal Farm Loan	433

notes drawn for commercial purposes The Federal 27	541

TITLE II NATIONAL AGRICULTURAL CREDIT CORPORA	544

40	549

41	550

certificate The rate of interest for such rediscounts 32	565

to approve or reject such application in whole or	597

Provided however That whenever Federal reserve notes 19 are issued against the security of such obligations or 20 paper the Federal Reserve Board ...	628

in proportion to the membership of such committee from 22	698

of subdivision a of section 203 Such indorsement 27 shall be deemed to be a waiver of demand notice and 28 protest by such corporation as to its o...	729

TIONS 2	731

other Federal reserve notes which may from time	737

part 25	740

DEPOSITS	750

results of its inquiries together with its recommenda 26	761

SEC 212 That the moneys of National Agricultural 27 Credit Corporations may be kept on deposit subject to 28 check in any member bank of the Fe...	766

9007424	767

29	768

liability direct or indirect for any debentures or other 42	778

liquidation or otherwise in excess of a reasonable reserve 37	784

No certificate issued or right conferred under the pro 26	789

pay to the bank in full satisfaction of its claim the 37 amount of the unpaid principal and unpaid interest at 38 the rate fixed in the note accrued up to...	809

re 30	839

provisions of this Act shall upon conviction thereof 8 be subject to a fine of not more than 500 or imprison 9 ment for not more than one year or both	847

11	849

Corporation shall have power under such rules and regu	851

TITLE IV	852

This provision in effect amends sec 5202 of the Revised Statutes and sec 13	853

shall be fixed by the Federal Reserve Board In case 33	865

1920 author	875

the Federal Reserve	886

producers of agricultural products provided such notes 33 drafts or bills of exchange are secured at the time of 34 discount or purchase by warehous...	897

obligations issued under this title and all such debentures 43	905

which deposited the same sell any such bonds or obli 42	906

of Apr 13 31 consist of three Members of the Banking and Currency izing pro 32 Committee of the Senate to be appointed by the Presi discount 33 ...	907

Whenever any such payment is made an amount of 39	959

serve banks	962

Adjusted Service Pay No right to adjusted service pay under the provisions	970

appropriate language to be prescribed in form and sub 45	1002

of the loan but not before the expiration of six months 40	1003

andor shipping documents or of the live stock covered 36	1014

3 To sell or negotiate with or without recourse any 40 note draft or bill of exchange discounted or purchased	1034

the Agricultural Credits Act of 1923	1071

hereunder 42 b National Agricultural Credit Corporations organ	1073

b The joint committee is authorized to inquire into 39 the effect of the present limited membership of State 40 banks and trust companies in the Feder...	1111

dependents or to his estate or to any beneficiary 35	1126

of this title shall be assignable or serve as security for 14 any loan Any assignment or loan made in violation 15 of the provisions of this section shall ...	1127

by his adjusted service certificate with or without the 33 consent of the beneficiary thereof any amount not in 34 excess of the loan basis as defined i...	1170

The Director may in his discretion accept the certificate 42	1171

shall be subject to attachment levy or seizure under any 38	1173

of this section of the certificate The rate of interest 36 charged upon the loan by the bank shall not exceed 37 by more than 2 per centum per annum ...	1262

by any Federal reserve bank of obligations or paper	1277

secured by such bonds or notes of the United States	1285

capital stock of the Corporation equal in par value to the 40	1302

maturity of the certificate The Director shall deduct 40 the amount so paid from the face value as determined in 41 section 501 of the certificate and ...	1303

and in respect to Federal reserve notes issued against 29 the security of such obligations or paper shall extend 30 in so far as applicable to the acquisit...	1310

That all moneys of the Corporation not otherwise 39 employed may be kept on deposit subject to check 40 with the Treasurer of the United States or ...	1311

The section numbers under this title refer to sections of the Agricultural Credits 47 Act of 1923	1312

operations shall be accumulated as a reserve fund until 43	1316

Other editions - View all

Index-digest of the Federal Reserve Act and Amendments: Together with Those ...
Board of Governors of the Federal Reserve System (U.S.),United States. Federal Reserve Board
Full view - 1924

Index-digest of the Federal Reserve Act and Amendments
Board of Governors of the Federal Reserve System (U.S.)
Full view - 1924

Common terms and phrases

Adjusted Compensation Act aggregate Agricultural Credits Act amended approved authorized bank notes bank or member bank or trust bills of exchange capital and surplus capital stock centum per annum circulating notes Clayton Act comptroller corporation organized deposits drafts eligible Enemy Act exceed exceeding Farm Loan Act Federal Farm Loan Federal Reserve Act Federal reserve agent Federal reserve bank Federal Reserve Board Federal reserve notes Federal reserve system Finance Corporation Act funds gold hereby indorsement insular possessions laws liabilities Liberty Bond Act line 14 line 27 line 38 line 9 live stock maturity member bank months national banking association notes secured organization certificate paid payment Pittman Act Postal Savings Act prescribed purchase receive Revenue Act Second Liberty Bond Secretary sell stock and surplus thereof Third Liberty Bond tion transactions Transportation Act Treasury trust company U. S. Revised Statutes unimpaired capital United War Finance Corporation

Popular passages

Page 257 - To exercise by its board of directors, or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, etc.‎

Appears in 649 books from 1798-2006

Page 743 - The shareholders of every Federal reserve bank shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such bank to the amount of their subscriptions to such stock at the par value thereof in addition to the amount subscribed, etc.‎

Appears in 358 books from 1778-2005

Page 254 - To prescribe by its board of directors by-laws not inconsistent with law or with the regulations of the Federal Reserve Board regulating the manner in which its stock shall be transferred, its directors elected or appointed, its officers and employees appointed, its property transferred, and the privileges granted to it by law exercised and enjoyed. (Sec.‎

Appears in 274 books from 1798-2005

Page 254 - 6.) To exercise by its board of directors, or duly authorized officers or agents, all powers specifically granted by the provisions of this act and such incidental powers as shall be necessary to carry on the business of banking within the limitations prescribed by this act.‎

Appears in 393 books from 1798-2005

Page 913 - Any Federal reserve bank may discount notes, drafts, and bills of exchange arising out of actual commercial transactions; that is, notes, drafts, and 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.‎

Appears in 259 books from 1893-2005

Page 257 - To prescribe, by its board of directors, by-laws not inconsistent with law, regulating the manner in which its stock shall be transferred, its directors elected or appointed, its officers appointed, its property transferred, its general business conducted, and the privileges granted to it by law exercised and enjoyed. (US‎

Appears in 273 books from 1798-2005

Page 877 - The stockholders of every national banking association shall be held individually responsible for all contracts, debts, and engagements of such association, each to the amount of his stock therein, at the par value thereof in addition to the amount invested in such stock.‎

Appears in 388 books from 1778-2005

Page 743 - The stockholders of every national banking association shall be held individually responsible for all contracts, debts, and engagements of such association, each to the amount of his stock therein, at the par value thereof, in addition to the amount invested in such stock,‎

Appears in 388 books from 1778-2005

Page 499 - discounted by such association and secured by bonds, notes, or certificates of indebtedness as described in (4) hereof, shall not exceed (except to the extent permitted by rules and regulations prescribed by the Comptroller of the Currency with the approval of the Secretary of the Treasury) 10 per centum of such capital stock and surplus fund.‎

Appears in 183 books from 1798-2005

Bibliographic information

Title	Index-digest of the Federal Reserve Act and Amendments: Together with Those Provisions of Other Acts which Affect the Federal Reserve System
Authors	Board of Governors of the Federal Reserve System (U.S.), United States. Federal Reserve Board
Contributor	United States
Edition	3
Publisher	U.S. Government Printing Office, 1924
Original from	the University of Michigan
Digitized	31 Mar 2006
Length	1346 pages

Export Citation	BiBTeX EndNote RefMan

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