To Aid in the Marketing of the Debentures and Other Obligations of the Federal Intermediate Credit Banks: Hearings ... on S. 2409 ... February 3 and 5, 1932United States. Congress. Senate. Banking an Currency Committee, United States. Congress. House. Committee on Banking and Currency U.S. Government Printing Office, 1932 - 53 pages |
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Page 2
... sold by the Federal intermediate credit banks to obtain funds for lending purposes , the proposed amendment would be advan- tageous to the intermediate credit banks by enabling them to procure funds for lending purposes in the ...
... sold by the Federal intermediate credit banks to obtain funds for lending purposes , the proposed amendment would be advan- tageous to the intermediate credit banks by enabling them to procure funds for lending purposes in the ...
Page 8
... sold between the first and tenth of each month for delivery on the fifteenth , and ordinarily are issued for terms ranging from 3 to 12 months , with interest payable at maturity . From organiza- tion to December 31 , 1931 , the Federal ...
... sold between the first and tenth of each month for delivery on the fifteenth , and ordinarily are issued for terms ranging from 3 to 12 months , with interest payable at maturity . From organiza- tion to December 31 , 1931 , the Federal ...
Page 10
... sold to Federal reserve banks or in the open acceptance market . Senator STEIWER . Is there such a lack of authority that in practice the banks have not accepted drafts and bills of exchange when secured by warehouse receipts ? Mr ...
... sold to Federal reserve banks or in the open acceptance market . Senator STEIWER . Is there such a lack of authority that in practice the banks have not accepted drafts and bills of exchange when secured by warehouse receipts ? Mr ...
Page 18
... sold have ranged from three to six months . The mar- ket favors short maturities and recently has not been inclined to take longer term debentures at rates acceptable to the intermediate credit banks . Senator GORE . I wish you would ...
... sold have ranged from three to six months . The mar- ket favors short maturities and recently has not been inclined to take longer term debentures at rates acceptable to the intermediate credit banks . Senator GORE . I wish you would ...
Page 22
... sold on a basis making a net cost to the banks of 5 per cent . On the same day the rate quoted in New York for 90 - day acceptances was around 2 to 3 per cent . Except for the fact that at times the debentures of Federal inter- mediate ...
... sold on a basis making a net cost to the banks of 5 per cent . On the same day the rate quoted in New York for 90 - day acceptances was around 2 to 3 per cent . Except for the fact that at times the debentures of Federal inter- mediate ...
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Common terms and phrases
15-day borrowings 15-day loans accept drafts agricultural credit corporations amended U. S. C. authorizes Federal reserve Banking and Currency basis bills of exchange cent per annum Chairman collateral security commercial banks cooperative marketing associations covering staple agricultural credit bank debentures discount rates discounting institutions documents covering staple drafts or bills earnings eligible for rediscount farm loan act Farm Loan Board farmers Federal Farm Board Federal Farm Loan Federal inter Federal intermediate credit Federal reserve act Federal reserve banks Federal Reserve Board Federal reserve notes Federal reserve system financing institutions franchise tax Glass bill indorsement intermediate credit banks intermediate credit system liability livestock loan companies loans and discounts loans to cooperative maturity mediate credit banks member banks obligations of Federal paid purchase by Federal section 13 secured by warehouse Senator CAREY Senator GORE Senator STEIWER Senator TOWNSEND shipping documents covering staple agricultural products subcommittee tions WILLIAMS
Popular passages
Page 15 - Upon the indorsement of any of its member banks, which shall be deemed a waiver of demand, notice and protest by such bank as to its own indorsement...
Page 6 - USC 352) is further amended by changing the period at the end thereof to a comma, and adding the following: "or for subsistence uses in areas added to the park by the Alaska Conservation Act of 1971* pursuant to section 108 of that Act.".
Page 20 - ... or by the deposit or pledge of debentures or other such obligations of Federal intermediate credit banks which are eligible for purchase by Federal reserve banks under section 13 (a) of this Act.
Page 6 - ... discount notes payable to and bearing the indorsement of any Federal intermediate credit bank, covering loans or advances made by such bank pursuant to the provisions of section "202 (a) of Title II of the Federal Farm Loan Act, as amended (USC, title 12, ch.
Page 5 - States and the balance shall be paid into a surplus fund until it shall amount to 100 per centum of the subscribed capital stock of such bank and that thereafter 10 per centum of such earnings shall be paid into the surplus.
Page 6 - ... Bank, except that no Federal reserve bank shall rediscount for a Federal Intermediate Credit Bank any such note or obligation which bears the indorsement of a nonmember State bank or trust company which is eligible for membership in the Federal reserve system, in accordance with section 9 of this Act. Any Federal reserve bank may...
Page 5 - After the aforesaid dividend claims have been fully met, all the net earnings shall be paid to the United States as a franchise tax, except that one-half of such net earnings shall be paid into a surplus fund until it shall amount to forty per centum of the paid-in capital stock of such bank.
Page 15 - Provided, That notes, drafts, and bills of exchange with maturities in excess of six months shall not be eligible as a basis for the issuance of Federal reserve notes unless secured by warehouse receipts or other such negotiable documents conveying or securing title to readily marketable staple agricultural products or by chattel mortgage upon live stock which is being fattened for market.
Page 6 - Credit bank must bear the endorsement of such bank and must have a maturity at the time of discount of not more than nine months, exclusive of days of grace.
Page 9 - ... (b) No paper shall be purchased from or discounted for any national bank. State bank, trust company, or savings institution under this section, if the amount of such paper added to the aggregate liabilities of such national bank, State bank, trust company or savings institution...