The A B C of the Federal Reserve System |
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Page 33
... appointed by the President of the United States with the advice and consent of the Senate , who hold office for a period of ten years . At least two of these five members the law says must be " experienced in banking or fi- nance ...
... appointed by the President of the United States with the advice and consent of the Senate , who hold office for a period of ten years . At least two of these five members the law says must be " experienced in banking or fi- nance ...
Page 34
... appointed respec- tively by the boards of directors of the twelve federal reserve banks . The advisory council meets with the federal reserve board at least four times each year and oftener if called by the board . The appointment by ...
... appointed respec- tively by the boards of directors of the twelve federal reserve banks . The advisory council meets with the federal reserve board at least four times each year and oftener if called by the board . The appointment by ...
Page 103
... appoint such assistants and incur Organization such expenses in carrying out the provisions of this Act as it shall ... appointed by the Federal reserve bank of the district , and the remaining directors by the Fed- eral Reserve Board ...
... appoint such assistants and incur Organization such expenses in carrying out the provisions of this Act as it shall ... appointed by the Federal reserve bank of the district , and the remaining directors by the Fed- eral Reserve Board ...
Page 105
... appoint by its board of directors such officers and employees as are not otherwise provided for in this Act , to define their duties , require bonds of them and fix the penalty there- of , and to dismiss at pleasure such officers or ...
... appoint by its board of directors such officers and employees as are not otherwise provided for in this Act , to define their duties , require bonds of them and fix the penalty there- of , and to dismiss at pleasure such officers or ...
Page 107
... appoint the class C directors and shall designate one of such di- rectors as chairman of the board to be selected . Pending the designation of such chairman , the organization committee shall exercise the pow- ers and duties ...
... appoint the class C directors and shall designate one of such di- rectors as chairman of the board to be selected . Pending the designation of such chairman , the organization committee shall exercise the pow- ers and duties ...
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Common terms and phrases
act approved American bank amount authorized bank acceptances bank reserves bank-note circulation bank's bankers ber banks bills of exchange board of directors bonds branch banks capital and surplus capital stock cent central reserve cities centum collateral collection commercial banks commercial paper Comptroller corporation organized country bank defects demand deposit currency drafts eligible employee eral reserve bank eral Reserve Board expenses federal reserve act Federal reserve agent federal reserve banks Federal Reserve Board federal reserve district Federal reserve notes federal reserve system foreign gold certificates Government legal reserve money loans member banks ment millions money market national bank notes national banking association notes issued officer old banking system open market organization certificate paid payment prescribed purchase redemption rediscount regulations reserve bank notes reserve city bank reserve law Secretary securities serve bank thereof tion trade acceptance Treasury trust company twelve federal reserve United
Popular passages
Page 159 - The shareholders of every national banking association shall be held individually responsible, equally and ratably, and not one for another, for all contracts. debts, and engagements of such association to the extent of the amount of their stock therein, at the par value thereof, in addition to the amount invested in such shares...
Page 179 - That if any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act,, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Page 101 - Board, by the Comptroller of the Currency in his own name before the association shall be declared dissolved.
Page 173 - Dividends (Sec. 5199). —The directors of any association may semiannually declare a dividend of so much of the net profits of the association as they shall judge expedient; but each association shall, before the declaration of a dividend, carry one-tenth part of its net profits of the preceding half year to its surplus fund until the same shall amount to twenty per centum of its capital stock.
Page 133 - That no association shall at any time be indebted, or in any way liable, to an amount exceeding the amount of its capital stock at such time actually paid in and remaining undiminished by losses or otherwise, except on the following accounts, that is to say:
Page 136 - ... 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...
Page 124 - To add to the number of cities classified as reserve and central reserve cities under existing law in which national banking associations are subject to the reserve requirements set forth in section twenty of this Act ; or to reclassify existing reserve and central reserve cities or to terminate their designation as such.
Page 98 - An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.
Page 105 - 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.
Page 53 - To suspend for a period not exceeding thirty days, and from time to time to renew such suspension for periods not exceeding fifteen days, any reserve requirement specified in this Act...