Federal Reserve ACT as Amended to December 24, 1919

Federal Reserve ACT as Amended to December 24, 1919

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1920 edition. Excerpt: ...may, with the consent and approval of the Federal Reserve Board, be permitted to carry on or conduct, through the Federal reserve bank opening such account or appointing such agency or correspondent, any transaction authorized by this section under rules and regulations to be prescribed by the board. Government fiscal aftnts GOVERNMENT DEPOSITS. Sec. 15. The moneys held in the general fund of the Treasury, except the five per centum fund for the redemption of outstanding national-bank notes and the funds provided in this Act for the redemption of Federal reserve notes may, upon the direction of the Secretary of the Treasury, be deposited in Federal reserve banks, which banks, when required by the Secretary of the Treasury, shall act as fiscal agents of the United States; and the revenues of the Government or any part thereof may be deposited in such banks, and disbursements may be made by checks drawn against such deposits. No public funds of the Philippine Islands, or of the postal savings, or any Government funds, shall be deposited in the continental United States in any bank not belonging to the system established by this Act: Provided, however, That nothing in this Act shall be construed to deny the right of the Secretary of the Treasury to use member banks as depositories. Government deposit! Under the act of April 5, 1918, as amended March 3, 1919, Federal reserve banks may also act as fiscal agents and depositaries of the War Finance Corporation. NOTE ISSUES. Federal reserve notes Sec. 16. Federal reserve notes, to be issued at the discretion of the Federal Reserve Board for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are hereby...show more

Product details

  • Paperback | 26 pages
  • 189 x 246 x 1mm | 68g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236827805
  • 9781236827807