Amendments to the Federal Reserve Act

Capa
1916
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Página 27 - State thereof, and principally engaged in international or foreign banking, or banking in a dependency or insular possession of the United States either directly or through the agency, ownership, or control of local institutions in foreign countries, or in such dependencies or insular possessions.
Página 3 - Upon duly making and filing articles of association and an organization certificate, the association shall become, as from the date" of the execution of its organization certificate, a body corporate, and as such, and in the name designated in the organization certificate, it shall have power: First.
Página 3 - The amount of its capital stock and the number of shares into which the same shall be divided.
Página 4 - 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...
Página 4 - But no association 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 the business of banking.
Página 59 - 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.
Página 6 - ... purposes of exchange or of collection, may receive from other Federal reserve banks deposits of current funds in lawful money, national-bank notes...
Página 74 - ... of this Act, or bills of exchange indorsed by a member bank of any Federal reserve district and purchased under the provisions of section fourteen of this Act, or bankers...
Página 60 - Board, provided such promissory notes are secured by such notes, drafts, bills of exchange, or bankers' acceptances as are eligible for rediscount or for purchase by Federal Reserve Banks under the provisions of this Act, or by the deposit or pledge of bonds or notes of the United States.
Página 12 - The discount and rediscount and the purchase and sale by any Federal reserve bank of any bills receivable and of domestic and foreign bills of exchange, and of acceptances authorized by this Act, shall be subject to such restrictions, limitations, and regulations as may be imposed by the Federal Reserve Board.

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