Miscellaneous Banking and Credit Union Bills: Hearing Before the Subcommittee on Financial Institutions of the Committee on Banking and Currency, United States Senate, Ninetieth Congress, First Session on S. 714, S. 965, and S. 966, Bills to Amend the Federal Reserve Act and Other Statutes, March 14, 1967U.S. Government Printing Office, 1967 - 47 páginas Considers. S. 714, to authorize education and home mortgage loans to executive officers of Federal Reserve member banks and Federal credit unions. S. 966, to authorize an extension of credit to the commercial banks from the Federal Reserve banks on their promissory notes secured by Government obligations called eligible papers. S. 965, to authorize Federal Reserve banks to buy and sell short term foreign government securities that are payable in convertible currencies to safeguard the international dollar. |
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90TH CONGRESS advances under section agricultural amend the Federal American Bankers Association authority bank credit Banking and Currency bills of exchange board of directors Board of Governors Bureau of Federal Chairman collateral commercial banks Committee on Banking credit committee Credit Union Act credit union officials CUNA International D.C. DEAR direct obligations discount window drafts eligible paper enacted eral Reserve executive officers extend credit favorable Federal credit unions Federal Reserve Act Federal Reserve banks Federal Reserve credit Federal Reserve notes Federal Reserve System financing foreign currencies foreign government Government obligations GRANT home mortgage loans investment JENNINGS JOHN SPARKMAN loans to executive maturity member bank borrows paragraph of section permit present law purpose rate of interest regular discount rate regulations requirements Reserve Act 12 section 13A self-liquidating Senator HICKENLOOPER Senator PROXMIRE sound credit conditions statement Subcommittee System may prescribe thereof three bills tion U.S. Senate unsecured loan limit WILLIAM PROXMIRE
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Página 30 - Board, purchase and sell in the open market, at home or abroad, either from or to domestic or foreign banks, firms, corporations, or individuals, cable transfers and bankers' acceptances and bills of exchange of the kinds and maturities by this Act made eligible for rediscount, with or without the indorsement of a member bank.
Página 38 - System, extend to each member bank such discounts, advancements, and accommodations as may be safely and reasonably made with due regard for the claims and demands of other member banks, the maintenance of sound credit conditions, and the accommodation of commerce, industry, and agriculture.
Página 41 - 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.
Página 42 - Upon the indorsement of any of its member banks, which shall be deemed a waiver of demand, notice and protest by such bank as to its own indorsement exclusively...
Página 43 - ... for the speculative carrying of or trading in securities, real estate, or commodities, or for any other purpose inconsistent with the maintenance of sound credit conditions...
Página 18 - ... officer, stating the date and amount of such loan or indebtedness, the security therefor, and the purpose for which the proceeds have been or are to be used.
Página 43 - Any Federal reserve bank may, under rules and regulations prescribed by the Federal Reserve Board, purchase and sell in the open market, at home or abroad, either from or to domestic or foreign banks, firms, corporations, or individuals, cable transfers and bankers...
Página 40 - Nothing in this Act contained shall be construed to prohibit such notes, drafts, and bills of exchange, secured by staple agricultural products, or other goods, wares, or merchandise from being eligible for such discount...
Página 44 - ... shall not be considered as loans secured by real estate within the meaning of this section but shall be classed as ordinary commercial loans whether or not secured by a mortgage or similar lien on the real estate upon which the building or buildings are being constructed...
Página 25 - Board and under regulations to be prescribed by said board, to open and maintain accounts in foreign countries, appoint correspondents, and establish agencies in such countries wheresoever it may be deemed best for the purpose of purchasing, selling, and collecting bills of exchange, and to buy and sell, with or without its indorsement, through such correspondents or agencies, bills of exchange (or acceptances) arising out of actual commercial transactions which have not more than ninety days to...