Absorption of Exchange Charges: Hearings Before the Committee on Banking and Currency, House of Representatives, Seventy-eighth Congress, Second Session, on H.R. 3956, a Bill to Amend the Federal Reserve Act, as Amended, to Provide that the Absorption of Exchange and Collection Charges Shall Not be Deemed the Payment of Interest on Deposits. December 10, 15, 16, 17,20, 1943, and January 24, 25, 26, 27, 28, 31, and February 1, 2, 3, 4, 5, 6, 7, 8, 9, 1944 ...
U.S. Government Printing Office, 1944 - Banking law - 752 pages
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Page 45 - No member bank shall, directly or indirectly by any device whatsoever, pay any interest on any deposit which is payable on demand: Provided, That nothing herein contained shall be construed as prohibiting the payment of interest in accordance with the terms of any certificate of deposit or other contract...
Page 715 - Five members who are members of the Committee on Banking and Currency of the House of Representatives, three from the majority and two from the minority party, to be appointed by the chairman of the committee.
Page 328 - Within this part any payment to or for the account of any depositor as compensation for the use of funds constituting a deposit shall be considered interest.* (b) Exceptions.
Page 601 - Fund to the public as investments." 26 Fed Reserve Bull 393 (1940) ; see also 42 Fed Reserve Bull 228 (1956); 41 Fed Reserve Bull 142 (1955). In 1962 Congress transferred jurisdiction over most of the trust activities of national banks from the Board of Governors of the Federal Reserve System to the Comptroller of the Currency, without modifying any provision [401 US 622] of substantive law.
Page 655 - No interest shall be paid by a member bank on any amount which, by the terms of any certificate or other contract or agreement or otherwise, the bank may be required to pay within 30 days from the date on which such amount is deposited in such bank.
Page 344 - That nothing in this or any other section of this Act shall be construed as prohibiting a member or non-member bank from making reasonable charges, to be determined and regulated by the Federal Reserve Board, but in no case to exceed 10 cents per $100 or fraction thereof, based on the total of checks and drafts presented at any one time, for collection or payment of checks and drafts and remission therefor by exchange or otherwise; but no such charges shall be made against the Federal reserve banks.
Page 716 - And so these men of Indostan Disputed loud and long, Each in his own opinion Exceeding stiff and strong, Though each was partly in the right, And all were in the wrong!
Page 653 - time deposit, open account" means a deposit, other than a "time certificate of deposit" or a "savings deposit", with respect to which there is in force a written contract with the depositor that neither the whole nor any part of such deposit may be withdrawn, by check or otherwise, prior to the date of maturity, which shall be not...