Commercial Banking Practice Under the Federal Reserve Act: The Law and Regulations, the Informal Rulings of the Federal Reserve Board, and the Opinions of Counsel Governing Bank Acceptances, Rediscounts, Advances, and Open Market Transactions of the Federal Reserve BanksService Department National Bank of Commerce in New York, 1918 - 127 pages |
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Common terms and phrases
accept drafts acceptor actually existing value aggregate agricultural paper ances bank may accept bill of ex bill of exchange bill of lading bills drawn bonds borrower Bulletin capital and surplus cent limit centum ceptance Chattel mortgages CHIG collateral Commercial paper commodity paper conveying or securing corporation days of grace Drafts and Trade drafts drawn drafts or bills drawee eligible for purchase eligible for rediscount eligible paper exchange drawn exclusive of days Federal Reserve Act Federal reserve bank Federal Reserve Board Finance FMIC furnish dollar exchange GAN UNIV importation or exportation ineligible Informal Ruling live stock loans member bank MICHIS national bank negotiable nonmember bank Opinion of Counsel Opinions and Rulings paid-up and unimpaired paper secured payable proceeds promissory notes Regulations of Federal Section 13 securing title Series of 1917 shipping documents SITY stock and surplus tion trade acceptance UNIV GAN UNIVE UNIV UNIV War Finance Corporation warehouse receipts
Popular passages
Page 79 - 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...
Page 45 - But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed.
Page 66 - Notes, drafts, and bills admitted to discount under the terms of this paragraph must have a maturity at the time of discount of not more than ninety days...
Page 12 - Any member bank may accept drafts or bills of exchange drawn upon it having not more than six months...
Page 43 - The total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed onetenth part of the amount of the capital stock of such association actually paid in.
Page 36 - ... no bank shall accept such bills to an amount equal at any time in the aggregate...
Page 29 - States as may be incidental to or for the purpose of carrying out transactions in foreign countries or dependencies or insular possessions of the United States...
Page 102 - Any Federal reserve bank may discount acceptances which are based on the importation or exportation of goods and which have a maturity at time of discount of not more than three months, and indorsed by at least one member bank.
Page 68 - The aggregate of notes, drafts, and bills bearing the signature or indorsement of any one borrower, whether a person, company, firm, or corporation rediscounted for any one...
Page 78 - An acceptance to pay at a particular place is a general acceptance unless it expressly states that the bill is to be paid there only and not elsewhere.