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" 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 : * * • Provided,... "
Annual Report of the Commissioner of the Banking Department of the State of ... - Page xxxii
by Michigan. Banking Division - 1922
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Federal Reserve Act, 1913: McFadden Act, 1927; Banking Act of 1933, Banking ...

United States Congress. House. Banking and Currency Committee - 1958 - 910 pages
...centum of the unimpaired capital and surplus of said bank; but this restriction shall not apply to the discount of bills of exchange drawn in good faith against actually existing values. Any member bank may accept drafts or bills of exchange drawn upon it and growing out of transactions...
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Member Bank Reserve Requirements, Hearings Before ...,86-1 OnS.860 AndS.1120 ...

United States. Congress. Senate. Banking and Currency Committee, United States. Congress. Senate. Committee on Banking and Currency - 1959 - 260 pages
...shall not at any time exceed ten percent of the capital and surplus of such bank or trust company ; but the discount of bills of exchange drawn in good...values and the discount of commercial or business paper of solvent parties, actually owned by the person negotiating the same, shall not be considered as money...
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Member Bank Reserve Requirements: Hearings Before Subcommittee No. 2 of the ...

United States. Congress. House. Committee on Banking and Currency - 1959 - 344 pages
...shall not at any time exceed ten percent of the capital and surplus of such bank or trust company; but the discount of bills of exchange drawn in good...values and the discount of commercial or business paper of solvent parties, actually owned by the person negotiating the same, shall not be considered as money...
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National Bank Amendments: Hearings Before Subcommittee No. 2 of ... , 86-1 ...

United States Congress. House. Banking and Currency Committee - 1959 - 84 pages
...percent of the unimpaired surplus fund. Limitation does not apply to(1) Obligations arising out of the discount of commercial or business paper actually owned by the person negotiating same. (2) Obligations secured by shipping documents, warehouse receipts, or other such documents transferring...
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National Bank Amendments: Hearings Before Subcommittee No.2 of the Committee ...

United States. Congress. House. Committee on Banking and Currency. Subcommittee No. 2, United States. Congress. House. Committee on Banking and Currency - 1959 - 84 pages
...percent of the unimpaired surplus fund. Limitation does not apply to— (1) Obligations arising out of the discount of commercial or business paper actually owned by the person negotiating same. loaned when the value is 115 percent. An additional 5 percent may be loaned for each 5 percent...
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Study of Subcommittee Credit, Hearings Before a Subcommittee of ..., 86-1 ...

United States. Congress. Senate. Banking and Currency Committee - 1959 - 892 pages
...this section to any limitation based upon such capital and surplus. "(2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnership, association, or corporation negotiating the same shall not be subject under this section...
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Study of Mortgage Credit, Volumes 22-23

United States. Congress. Senate. Committee on Banking and Currency - 1959 - 892 pages
...this section to any limitation based upon such capital and surplus. "(2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnership, association, or corporation negotiating the same shall not be subject under this section...
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United States Congressional Serial Set, Issue 12152

1959 - 1442 pages
...this section to any limitation based upon such capital and surplus. (2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnership, association, or corporation negotiating the same shall not be subject under this section...
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United States Congressional Serial Set, Issue 12161

1959 - 1256 pages
...limitation of 10 per centum shall be subject to the following exceptions: (2) Obligations arising out of the discount of commercial or business paper actually owned by the person, copartnership, association, or corporation negotiating the same shall not be subject under this section...
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Federal Banking Laws and Reports, 1780-1912 ..., 50th Anniversary, 1913-1963 ...

United States. Congress. Senate. Committee on Banking and Currency - 1963 - 548 pages
...such association actually paid in : Provided, That the discount of bona fide bills of exchange drawn against actually existing values, and the discount...commercial or business paper actually owned by the person or persons, corporation, or firm negotiating the same shall not be considered as money borrowed. SEC....
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