264 SIXTY-THIRD CONGRESS. Sus. II. C11. 6. 1913. or drawn for the urpose of or trading in stocks, bonds, or other investment Idecurities, except nds and notes of the Govern- “"‘°““"‘ ‘“°“‘;°‘ ‘i‘°‘mS“"°? the0t6Bamgraph’dnfw,1;nu2tbh1i.Sv:ddnil1is•(l;(i11?i(i di; coun un er rms 0 p _ _ {},'gf;,°,;m, M U, the time of discount of not more_than musty days: Provided, 'llhat ¢¤l¤¤¤l¤¤¤¤¤,•¤· notes drafts, and bills drawn or issued for agricultural purposes or based on live stock and having a maturity_uot exoeeding six months may be discounted m an amount to be limited to a percentage of the
o§ the Fed e bank, to be and fixed by the
eserve . —
Any Federal reserve_bank may discount accggzauces which are
P•··#.v·¤¤& on the importation or exportatmn of and which have a maturity at time of discount o not more than three months, and indorsed by at least one member bank. The amount of acceptances so dkcounted shall at no time exceed one-half the paid·up capital stock www M mu, and surplus of the bank for which the rediscounts are made. _ ¤¤¤¤¤· The aggrggate of such notes and bills bearing the signature or indorsement any one rson, company, firm, or corporation rediscoimted for any one bangshall at no time exceed ten per ceuturu of the unimpaimd cayiital and surplus of said bank; but this restriction shall not apply to the discount of bills of exchange drawn m good faith mm ,,1 ,,,,,g,, against actually existing values. wgmgmrlby mm- member mzzy gccept drgfots or billeof ’ n an wmgou o _ nsmvoving eimpo axon gimaxlpxrtatiogbf ggloéla having not more than six months sight to run; t ipe bank s acceptsuch bills hhot an amplunt equailsint any timeinteaggregatetomore one- itspai -upcap1 stoc and s lus. N°“°”" °°“*" Secllidn fifty-two hundred and two of the Revised Statutes of the £f’b§'T,li,'2,F",,°°°55¤¤, P, United States is hereby amended so as to read as follows: No national
- °°6»°¤°¤d°"· association shall at any time be indebted, or in any waz
liable, to an amount exceeding the amount of its capital stock at suc Emp,,m_ time actually paid in and remaining undiminished y lowes or othermum wigve, excebpt on apcoxing of demands of the nature following: irst. otes 0 cireu ation. D°P°°“S· Second. Mone de `ted with or collected b the association. D"*”··°*°· Third. Bills o¥laxcli)?axi1ge or drafts drawn agagist money actually DM on deposit to the credit of the association, or due thereto. d°°d"°°°‘ Fourth. Liabilities to the stockholders of the association for m¤_,mm,_ pm dividends and reserve profits. Mmmm. Fifth. Liabihties incurred under the provisions of the Federal Regulation of redir- Reserve Ach . . com .ew. The rediscount by any Federal reserve bank of an bills receivable and of domestic a.nd foreign bills of exchange and of acceptances authorized by this Act, shall be subject to such restrictions limitagoxgsa and regulations as may be imposed by the Federal lleserve 0 . t;,Y,,°?“"““”’° °’°"°’ ormr:-nuaxrrr ornnarxous. F°d°;1g* *¤g"° Sec. 14. An Federal reserve bank ma under rules and regula- $¤a1ypa°;»el-ieiii tions prescribed by the Federal Reserve lgiiard, purchase and sell in the open market, at home or abroad, either from or to domestic or foreign banks, firms, corporations, or individuals cable transfers and banke1s’ acceptances an bills of exchange of the lcinds and maturities by this Act made ehgible for rediscoimt, with or without the indorsemeéit of aFm§mb{zr bank. bank ha Additions! powers. ve 0 GPH. 1'6s€1'V9 ve wer; G¤1d¤¤¤s=c¤¤¤s. (a) Tb deal in old coin and bullion at hgme or abroad, to make loans thereon, exciange Federal reserve notes for ld, gold coin, or gold certificates, and to contract for loans of gold`) coin or bullion, giving therefor, when necessary, acceptable security, including the
