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Comptroller of the Currency-Continued.

Issue and retirement of Federal Reserve notes...
Issue and retirement of bond secured notes of reserve banks.
Member of organization committee
Member of Federal Reserve Board..
Organization certificate transmitted to...
Prepare plates and dies for printing notes
Recommend salaries examiners
State banks as members to report condition.
State banks as members to report dividends.
Suit for dissolution national bank...
To give certificate on conversion

Upon filing certificates Federal Reserve Board shall have power.
Correspondents ..
Court decisions limited
Credit, lines of

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D
Deposit, limit in non-member
Deposits:

Current funds
Demand
Exception to liability
Government
Philippine Islands
Received from member banks at par.

By Federal Reserve Banks.
Redemption fund
To retire Federal Reserve notes.
Time
Directors:
Class “A”
Class “B”
Class “B” cannot be officer any bank.
Class “C”
Class “C” cannot be officer or stockholder any bank.
Compensation
Federal Reserve Bank to control
How chosen
Number and term of office.
Qualifications branch banks.
Qualifications Federal Reserve Banks.
State institutions continue
Subject to orders, Federal Reserve Board.
Terms of office

Vacancies
Discount

Establish rates
Extended by Federal Reserve Bank.
Federal Reserve Banks required..
Limit as to amount of acceptances.
Ninety-day bills
No member shall act as medium of a non-member.

Rates fixed by board
Dissolution:

National banks

Not impair remedy
District reserve elector
Districts:

Established by
Geographical limits
Number

Readjusted
Dividend

Cumulative
Unearned prohibited
Liability for dividends

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Double liability
Drafts

Paragraph

5, 138
80, 81

81

E
Earnings

49, 50
Electors

39
Eligible for discount
For part reserve

124
Emergency Currency Act extended.

144
Tax changed

144
Examinations:
Branches abroad

142
By Federal Reserve Banks.

132
By State authorities

130
Cost to be borne by member banks.

131
Every member bank twice each year.

130
Of Federal Reserve Banks...

134
Special examination of Federal Reserve Bank on application ten mem-
ber banks

134
Examiners:
Appointment

130
Jurisdiction of

130
Salaries

131
Executor

76
Expenses for collecting checks

107
Experienced in Banking:
Deputy Federal Reserve Agent.

43
Federal Reserve Agent

43
Members of Federal Reserve Board..

59

88

F
Federal advisory council

78
Federal Reserve agent

43, 96
To give bond

74
Federal Reserve Banks:
Certificate of organization

17
Deal in gold coin and bullion.
Deposit United States Bonds and receive circulation.

27
Designate manager of branches.

15
Exempt from taxes

51
General supervision

75
How organized

16
Into liquidation

50
Issuing bank to have redeemed notes returned.

97
Liabilities incurred

85
May exchange bonds purchased from member banks for one-year
notes and thirty-year 3% bonds...

.116, 117, 118
Not to commence business until authorized by Comptroller.

28
Powers

19
Receive applications of State banks.

53
Required capital

14
Shall control exchange one-year gold rotes for 3% thirty-year bonds 118
Shall establish branches

15
Stock, amount required by members.

4
Stock, public subscription

9
Stock, allot to United States

11
Suspend for violation

73
To be fiscal agents of the government.

93
To bear expense of issue of notes.

104
To establish rates of discount.

91
To purchase and sell bills of exchange.

90
To receive deposits of government funds.

93
Under control board of directors..

30
Federal Reserve Board:

(See Powers Federal Reserve Board)
Membership

58

Paragraph
Federal Reserve notes

79
Application for ...

96
Exchange for gold

88
May be exchanged for gold out of redemption fund when presented to
Treasury for other purposes than redemption.

97
Not to be reissued .

99
Other appropriation made available for preparation.

106
Redemption funds

93
Unfit for use

97
Fees, other usual salary

136
Fiscal agents of the United States.

93
Five per cent fund

93
✓ Foreign branches

141
Accounts to be kept independently.

142
Franchise Tax

49

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87

Oath:

Paragraph
Members Federal Reserve Board must subscribe to oath of office.... 59
Members Federal Reserve Board certify under oath not an officer or
stockholder of any bank.

61
National Bank Examiners may put officers under oath.

130
Officers, amenable to penalties

56
Open market operations
Organization Committe

2
Approve reduction capital stock of national banks.

145
Approve Comptroller's form of resolution for stock subscription.

16
Call meetings of directors.

45
Classify member banks into groups.

38
Formulate by-laws for admission of State banks as members.

54
Give notice to subscribe.

4
Permit applying bank to become stockholders Federal Reserve Bank 53
Powers of .

3
Powers to incur expenses.

14
Prescribe examinations for applying banks...

54
To act as chairman of Board. Federal Reserve Bank.

34
To fix date for the first meeting Federal Reserve Board.

61
To establish districts

16
To receive applications from State banks.

53

43

116

P
Penalty for making loan to bank examiner.

135
Penalty for paying out notes.

97
Plates and dies

102, 104, 105, 106
Postal savings deposits..

94
Powers of the Federal Reserve Board.

80
To add to or reclassify existing reserve or central reserve cities.

70
To adopt regulations to control local office.

43
To adopt rules to govern branches Federal Reserve Bank.

15
To adopt rules for transfer stock.....

13
To appoint Deputy Federal Reserve Agent...
To approve application of any Federal Reserve Bank for the ex-
change at par 3% bonds for one-year 3% gold notes.

118
To approve application of Federal Reserve Bank for exchange 2%

United States Bonds one-year notes 3% without circulation privilege
To approve applications for reduction capital of national banks.... 145
To approve application for special examinations of member banks by
Federal Reserve Banks....

132
To approve compensation fixed by Federal Reserve Bank Boards... 44
To approve compensation of the members of the Federal Alvisory
Council

78
To authorize issue of notes.

95
To authorize examinations by State authorities or direct special ex-
aminations of State institutions.

130
To authorize suit to dissolve national banks..

7
To call for additional securities to protest notes.

96
To call for remainder of stock subscription.

4, 47
To call meetings Federal Advisory Council.

79
To consent to national banks located in Alaska to become member
banks of any one of the reserve districts.

128
To designate chairman board

34
To designate Class “C” directors.

34, 43
To designate Federal Reserve Agent

43
To employ attorneys and others

77
To establish by-laws in re applications made by State banks.

54
To establish a graduated tax on reserves below requirements.

68
To examine and require reports from Federal Reserve and member
banks

66
To exercise the functions of a clearing house for Federal Reserve

Banks, or may designate a Federal Reserve Bank to exercise such
functions

108
To exercise supervision over Federal Reserve Banks.

75
To fix compensation Federal Reserve Agent..

43

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Powers of Federal Reserve Board-Continued.

Paragraph
To fix by rule charges to be collected by member banks from patrons
for collecting checks

107
To fix the rate of interest to be paid by Federal Reserve Banks for
notes issued to it.

98
First meeting to be held in Washington.

67
To fix penalties under which member banks may check against reserve 126
To fix salaries of bank examiners upon recommendation of Comptroller 131
Foreign operations reserve banks subject to consent Reserve Board.. 92
To give permission to a member bank to apply for discount for a
non-member

125
To grant in whole or in part, or reject entirely any application for
Federal Reserve notes

98
To grant special permission to national banks to act as trustee, etc.. 76
To have general supervision over the issue of national currency. 65
To have control over Board of Directors of Federal Reserve Banks.. 30
To have power to add to list of cities in which National banks shall
not be permitted to loan on real estate

140
To have power to determine character of the paper..

81
To issue regulations fixing charges governing the transfer of funds.. 108
To levy assessment semi-annually

60
To make regulations for its own conduct..

74
To make rules and regulations for purchase and sale of bills eligible
for discount

87
To make rules and regulations for purchase of bonds of any State, etc. 89
To order an examination once each year of each Federal Reserve Bank 134
To permit or require Federal Reserve Banks to discount paper of
other Federal Reserve Banks...

67
To permit State banks to purchase stock Federal Reserve Bank.
To prescribe examinations applying banks.

54
To prescribe rules relative to State banks.

55
To prescribe rules and regulations for withdrawal of collateral. 101
To require bonds of Federal Reserve Agents.

74
To require Federal Reserve Bank to maintain redemption fund with
United States

98
To require Federal Reserve Banks to purchase bonds from banks. 111
To require deposit of gold with Treasury for redemption of notes. 100
To require any bank to surrender stock Federal Reserve Bank..

57
To require the writing off of doubtful assets.

72
To restore membership upon proof ..

57
To restrict and limit rediscounts of domestic and foreign bills of ex-
change and acceptances

86
To review discount rates established by Federal Reserve Banks.

91
To suspend operation of any Federal Reserve Bank.

73
To suspend member banks from privileges

57
To suspend or remove any officer or director of a Federal Reserve Bk.
To suspend reserve requirements.

68
To supervise the issue and retirement of Federal Reserve notes.

69
Protest

81
Public subscriptions

9

53

71

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