The Banking And Currency Bill

Author : United States
Publisher : Rarebooksclub.com
ISBN 13 : 9781230093352
Total Pages : 38 pages
Book Rating : 4.0/5 (933 download)

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Download or read book Banking and Currency Bill; Comparative Print Showing H. R. 7837, an Act to Provide for the Establishment of Federal Reserve Banks, to Furnish an Elast written by United States and published by Rarebooksclub.com. This book was released on 2013-09 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. 1913 edition. Excerpt: ...There is hereby created a Federal Advisory Council, which shall consist of as many members as there are Federal reserve districts. Each Federal reserve bank b its board of directors shall annua ly select from its own Federal reserve district one member of said council, who shall receive no com ensation for his services, but may be reimbursed for actual necessary expenses. The meetin of said advisory council shall lie held at Washington, District of Columbia, at least four times each year, and oftener if called by the Federal Reserve Board. The council may select its own ofiicers and adopt its own methods of procedure, and a majority of its members shall constitute a quorum for the transaction of business. Vacancies in the council shall be filled b the respective reserve banks, an members selected to fill vacancies shall serve for the unexpired term. The Federal Advisory Council shall have power (1) to meet and confer directl with the Federal Reserve Boar on general business conditions; (2) to make oral or written representations concerning matters within the jurisdiction of said board; (3) to call for complete information and to make recommendations in re ard to discount rates, rediscount usiness, note issues, reserve conditions in the various districts, the purchase and sale of gold or securities by reserve banks, o en-market operations by said ban, and the general affairs of the reserve banking system. SECTION 13. PASSED BY SENATE. FEDERAL ADVISORY COUNCIL. SEC.-13 I2. There is hereby created a Federal Advisory Council, which shall consist of as many members as there are Federal reserve districts. Each Federal reserve bank bv its board of directors shall annually select from its own Federal reserve district one member of said council, ..