Incorporating Institutions to Engage in International Or Foreign Banking: Hearing, Sixty-sixth Congress, First Session, July 23, 1919 |
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Page 1
... AMEND THE ACT APPROVED DECEMBER 23 , 1913 , KNOWN AS THE FEDERAL RESERVE ACT JULY 23 , 1919 Printed for the use of the Committee on Banking and Currency 1 WASHINGTON GOVERNMENT PRINTING OFFICE 1919 Owein A COMMITTEE ON BANKING AND ...
... AMEND THE ACT APPROVED DECEMBER 23 , 1913 , KNOWN AS THE FEDERAL RESERVE ACT JULY 23 , 1919 Printed for the use of the Committee on Banking and Currency 1 WASHINGTON GOVERNMENT PRINTING OFFICE 1919 Owein A COMMITTEE ON BANKING AND ...
Page 3
... amend the act approved December 23 , 1913 , known as the Federal Reserve Act . Be it enacted by the Senate and House ... amended by adding a new section as follows : " BANKING CORPORATIONS AUTHORIZED TO DO FOREIGN BANKING BUSINESS . SEC ...
... amend the act approved December 23 , 1913 , known as the Federal Reserve Act . Be it enacted by the Senate and House ... amended by adding a new section as follows : " BANKING CORPORATIONS AUTHORIZED TO DO FOREIGN BANKING BUSINESS . SEC ...
Page 5
... amendment of the Federal reserve act , as a proposed new section , section 25a , as a bill of primary , urgent , immediate importance , as I shall presently , explain . The bill authorizes corporations to be organized and managed ...
... amendment of the Federal reserve act , as a proposed new section , section 25a , as a bill of primary , urgent , immediate importance , as I shall presently , explain . The bill authorizes corporations to be organized and managed ...
Page 9
... amended when the Federal reserve banks did not exercise the functions contemplated by the original act of giving foreign banking accommodations , so as to authorize the Federal Reserve Board to require these reserve banks to discharge ...
... amended when the Federal reserve banks did not exercise the functions contemplated by the original act of giving foreign banking accommodations , so as to authorize the Federal Reserve Board to require these reserve banks to discharge ...
Page 22
... amend- ments , and I am having some copies made of it . But , in a word , they approved the bill , and , as I understand ... amended by the act of September 7 , 1916 , authorizes any national banking association possessing a capital and ...
... amend- ments , and I am having some copies made of it . But , in a word , they approved the bill , and , as I understand ... amended by the act of September 7 , 1916 , authorizes any national banking association possessing a capital and ...
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Common terms and phrases
agents amended American dollar American investing public American producer appointed approved December 23 authorized bankers BANKING AND CURRENCY banking corporation bill provides bills of exchange board of directors bonds Britain capital and surplus capital stock cent CHAIRMAN committee corporations chartered credit balance dependency or insular discount drafts employees establish Europe European credits exercise exports extend credits Federal Reserve Act Federal reserve banks Federal Reserve Board Federal reserve foreign Federal reserve notes financial operations foreign countries foreign exchange Foreign Finance Corporation France gold incidental insular possession interest international exchange international or foreign issue laws lire loans loss manufacturing member bank million national banks officers organization certificate paid poration pound sterling profit purchase purpose reserve foreign bank rules and regulations section 25 securities Senator EDGE Senator FLETCHER Senator GRONNA Senator NEWBERRY Senator OWEN Spain subscribed supervision thereof transaction trust companies United War Finance Corporation worth
Popular passages
Page 25 - 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, any Federal reserve bank may discount notes, drafts, and bills of exchange! arising out of actual commercial transactions...
Page 23 - 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.
Page 4 - States but not engaged in the general business of buying or selling goods, wares, merchandise or commodities in the United States, and not transacting any business in the United States except such as in the judgment of the Federal Reserve Board may be incidental to its international or foreign business...
Page 3 - The amount of its capital stock, and the number of shares into which the same shall be divided.
Page 4 - 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.
Page 26 - To establish from time to time, subject to review and determination of the Federal Reserve Board, rates of discount to be charged by the Federal Reserve bank for each class of paper, which shall be fixed with a view of accommodating commerce and business...
Page 27 - Federal ; to select, employ, and fix the compensation of such officers, employees, attorneys, and agents as shall be necessary for the transaction of the business of the corporation, without regard to the provisions of other laws applicable to the employment and compensation of officers or employees of the United States...
Page 26 - States, bonds and notes of foreign governments, and bills, notes, revenue bonds, and warrants, with a maturity from date of purchase of not exceeding six months, issued in anticipation of the collection of taxes or in anticipation of the receipt of assured revenues by any State, county, district, political subdivision, or municipality in the continental United States, including irrigation, drainage, and reclamation districts, such purchases to be made in accordance with rules and regulations prescribed...
Page 25 - 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, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin and bullion; by loaning money on...
Page 27 - To prescribe by its board of directors, by-laws not inconsistent with law, regulating the manner in which its general business may be conducted, and the privileges granted to it by law may be exercised and enjoyed.