ES? * V TITLE 12}--·—BANI§é W, {.m»;·u1agi0n px·ivIlege,].t0_ an aracant not tofexceaa ana-halt t of mg g per- zggmuxa bonds so tgadared fozrexchanga, and.th1t·ty- t Wi~;.,_gt pgpeentuxh gold .b<mds>with0uftl1e. circulatmn privllagg Vt
gm. {hg mmatiuder offthe 2 per CQIICHIQZI. bonds =so‘_l:gndered; as
P,.,,£—g;ipf{, That at the time of such éxchaaga the Federal reg U; Q,ax‘t~vlx:1l1}<‘°0btail1*i1‘lg such, one-ycarigold notes Shallarnter tiat0‘ . b gm a;;1igat_i0a atithlthe Seqretary of the Tzeasupy bi11ding.·it: i sia;} ga purchase from the United States for gold at thetmaturlty-I é nf aaai; aaayeaf notes, aaamouat aqual to those delivered in .¢ r mmaia far- suéh hqu~da, ijf $0 requested by the Secretary, ahdlr [ jk ng t~§a·l{ maturity af 9ii€·year notes s0_purchased*by such Fed.- `eaal rbsarvet thank, to. purchase from the Uixitgd States ·St1bh at {aa aamaat; of 0ua·yaar-notes as the Secretary may tender to C { tam bank, not exceed the amount issued to auch bank la I mp rmt instance, in exchange for the 2 -pér,centu‘xi; United s L émaa gold bonds {said aljligationa tapurchase at_uiatui·i~ty auch 5 ,;.·a.Q ahall`c0i1tim;a ia farce fox; a· period"`1i0tl~t0,_exceed· thirty t·{~a;·s.` (Dec; 23, 1913, é. 6, {#18, 38 Stat. 268.)- ~ ‘ - ‘ . t L.; 17. I·`o;·ta *0f bonds; cqtiditicins of issuance,4—FQ‘i·. tlig pp:} :1 .;,t.a_» of mahing the eiqhaage- hereln provided torn the Seem- as tar}: afltixé Treaauryls authorized to iasueat bar Treasury. a
- y;zi·a‘in ctmpcn or registeredform as he may prescribe in da- *1
iz¤=»mim1ti01:_s*0f $100, 01·Yany_ multiple thereof, beating intex·cs`t_ H; zhv mic of 3 pag cantdm. pct annum, payable quarterly, such C} , 'l‘:·.-;m:ry_n0tas to he bayable a0_t_m0re thani'0ne,`3Z€ar from the _ r dazé of their issué infgoldacciu of the present standard ialueg [ mal` 20 baaaxempt as to p·rlncipal‘a11d»i11tgrest from the', pay- t ‘ :sa·m*af all taaea and duties lof the United State; ·axce;$t as [ pm·i<lt·<l by this and. the foll0wiag_`chapter,· as_ wall as tram ijt awa in any {emu by or under State, municipal, or local author- 43 im-~<.» And for tlzcvaama purposchthe Secretary is a11th0rize·dand _ it t·m;¤·¤s·e1:¤:d to iasaé United States gold _·b0x1da atpar, bearing 3 1 gm- veiattma interest payable thirty years fromw slate df issue. ·2 3 aut li lmala [ta be of the sameaeneml tenor and effact audto be _ ia»ug»tI,11mler the same gt-moral t<>rm_a and e:0mlitions» as_tha h {aim}; States 3 per centum bqrida without the circulation privi- t hw amv §sauad_ ated outstanding. . (Dec. 23, $913, c. G, § 18, 38 IJ Statf LMS.) ‘ ‘ . -, ‘ _ ’~ - — a 4”4S.~_Exchaage of cneqear gold notes for 3 per centum gold s héada.——»-——lZp0u applicatién of any Federal Tcserve bank, ap-; A _p¤··m·4l by the Federal Resarve'B0a·rd; fha Secretary may iasge (4 at par such 3 pér·‘cantuu1 bbnxdé in exchange for the 01ia·yaar, ' .;;··!tl mates lxarainxpravided for. (Dec. 23, 1913; c. 6, § 18, 38 E fzat. 268.) ‘ r ’ ~ ·` `it BANK RESERVES l` ¢ E 461. Demand and time d¢pcsita.’deEnéd.~——§})emaud deposits. t adzliia tha meaning of this chapter shall comprise all tleposita lx payal»le_e withiuthirty days, and time deposits ahallcomprise all u 4~i4·;;¤aitta payable after thirty days, all savings accounts and 1· 4-mitiaatas ai deposit which are subject to not less than thirty xi aagva notice before payment, and all postal savings defmsitza c .l1az·<·.‘2f3, 1913, ce.'6, §_ 19, 38 Stat._270.) ·' I. ~ Ac; 462. Balance which member banks muat‘tkeep`Y·in réscrve baal·ta,·-———»Evcry bank, banking association, cir twat cminpany E which is or which becgj>maa`e1,m§1nbat· of any , Federal rasaiva a mak shall establish and maintain raérvé balances with itat g ]`t‘4?g¥l‘;1I reserve bank aa fallmysf I H _ · , _ U m) Ii abt in a reactjva or central rasérva city, aaxxaxvldr-l1ara·' f amer dahaad, it ahalljhold and maintain with the Fadaral *1 l ¤·tt·»¢arw·a bank of its district an actual hat balamié équal to not · t r lt·_»;—4 than Tper caatam at the aggregate amount of its demand I ti~;¤>aita‘aad 3 pct éeatma of its time dépcaits. , _ a ' 1 b) II in a _I‘»éS€I'VB city,t,aa’a0w· at hateaftar dahaad, it ahall `tt v lmld and maintain with tha Federal raaarva bank at ita district a an actuaal act balance equal to act lass than-10-par cc-mtum ot, a Wa aggregate amouat of its demand deposits and 3 par tzantum I at its time deposits; Provided, h0·u:evaé·, That it located fin c
t,. __ `\ AND aezvrczzve ‘ § 467 he outlying distrietsmof a reserveelty or in territory added. o such eity by the `extepsion of its corporatexéharter, it may, zpon the_°afHrmatlve» vote of fire members of the Federal Reerve Boardjhgld and maintain the reserve balances specified ia mragroph (a) hereof. ` · (c) It in a central reserve city, as new or hereafterr_defi11ed, ~ t shallhold and maintain with the- Federal reserve bank of its listriet zinractfual- net balance eqnal to not less than 13 or rentum_ of] the aggregate amoimt of its demand deposits and 3 >er centam 'of its time deposits} 1§’2·o¢:i1Ied; 'hozkceer, That if ocated in theégytlying ¢li'striets`of-a .eeutral·reserre city or ie _ xerritory added to suelr city by the extensidh of its eorporate rharterf it may, uponrthe amrmatixie vote of Qelmembers of the ?ederal Reserve Board, hold. and maintain the reserrerbalaneee l npeeidedjn parag1·`a_phs (a)v or (-b) thereof. _ {Dee,. 23, 1913, ::;.6, 419, 38 Stat. 270; Sept. 26, 1918,_c. 177, § 4, 40 Stat. 970.) . § 463; Limitation on amount of balenee with State bank or 4 rust. companyQ——NoL member bank shall keep on- deposit with my Statebenk or trust company which is not a member barik { l.sumfin excess of·10Yper centum of its own.paid4apj—eapitel ' md-Surplus, (Dec. 23, 1913, c. ·6,·§ 19, 38 Stat. 270;YAag. 15, '° I .9l4,Se. 252,*39 Stat; 691/; June 21, 1917, c. 32, § 10, 48 Stat. 239.) . 464. Checking against and withdrawal of·reeerve`ba1er1ce.¥-- Phe 1‘€(l\li’1;€d‘ balan'ge_`eerried_by-a memherhank with "a Federal ’€Sé1°V€_ bauk_ may; under the regulations and subject to sueh xenalties as ;may_be, prescribed by the Federal Reserve Board, __ »e checked against and withdrawn hy such member bealffor the rurpo:-sc of meeting existing liabilities: P2·=ovided,·ho%oet*er, That. lo bank shall at any timecmake néwrloens orshall pay any M lividends unless- and pmtilthe total balance required bylaw ‘ s~fuDy restored: _( Dee. 23, 1913, c. 6, § 19, 38; Stet..270`i_» Aug. .5, _1914, c. 252, 39·Stat...691,; June 21, 1917, e. 32, §_10, 40 Stat. !39.)~ ” . ,_ —; ‘ `___ 4fi5.`Basis for ascertaining deposits against which required valence is —d_efermihed.-——-In estimating the balances. required by his chapter, thenet difference of amountsrdue to and from other. mnks shall he taken ¤`S,t1a>.1.»ae1S’roraeeertainipg the deposits against which required balances with Federal reserve banks hall be determined; °(Dec. 23, 1913, e. 6, § 19,—39 Stat. 270; &ug._15, 191-1, c. 252, 38 Stat,. 691; J1me_21, 1917, c. 32, § I0, to sm:. 239.) . · —. T ‘ .» ‘ 466. Reserwges ofbanks Qin Alaska or _'insular_poeses»s1ions.—” Qlatioxnal banks, or banks organized under local laws, located n Alaska or in p ar dependency oriinsular possession or any »art of the United States outside—·the continental United States any remain nonmexuher-e—-banks, and shall `ia that event maial. ain reserves and comply with all the conditions new provided •yY‘I8\V__1‘9glll&uI1g them; or said banks may, with the consent » the Beserre Boajrdg become meinber ban'ke of any one of the teserve districts, and shall in"` that evexrtf takeéstoekt maintain. eserves, and be subjectito all fthe other prorisione of. this ·hapterQ (Dec. 23,<_1913, e., 6, § 19, $8 Stat. 270; Aug. 15,1914, ~< ·. 252, 38fStat. 891; Jane 21,*1917, c.·32,A§ 10, 40* Stat. 239.) ‘ ” 467. Deposits of gold coin or gold certideates with United States Treasiu·er.—·-·'1‘he Secretary ot the Treasury is hereliy; nthorlzed and directed to receive deposits of goldeein or of rold certideates with the Treasurer of the United States when endered b$r_ any Federal reserve bank or Federal reserve age]; or credit to its or his account with the Federal Reserve Board. Phe Secretary shall prescribe by regulation the form of receipt o be iésued by the Treasurer to the 'Federel reserve bank or ·`ederal reserve" agent making the deposit, and a duplleate of l- ueh reeelpt: ehall be delivered to thehF'ederal Reeerve Board by · he Treasurer at Washington upon proper advices from any resistant treasurer that such deposit has been made. Deposits o made shall be heldsubjeet to the orders of the l·`oderal leeerve Board and shell be payable .i;1 gold cola? or gold H - ·ei·tiilca.tes on the order of the FederaliReserve Board t¤·_&¤.Y
