Bankers' Balances: A Study of the Effects of the Federal Reserve System on Banking Relationships |
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Common terms and phrases
Abstracts of Reports amounts due Annual Report balances held bank reserves bankers banks and trust Banks Banks Banks banks increased banks reported bonds borrowings cash central reserve city checks Chicago banks clearing house collection commercial banks commercial loans commercial paper Comptroller correspondent loans country banks country national banks Currency December 31 decline demand deposits deposits held deposits maintained due from banks due to banks extent Federal Reserve Act Federal Reserve banks Federal Reserve Board Federal Reserve Bulletin Federal Reserve System financial centers held for banks important individual deposits inter-bank deposits interior banks January June 30 Kansas City larger loans and investments March ment millions of dollars movement nonmember banks November November 15 percentage period rates ratio rediscount relatively reserve agents reserve city banks reserve requirements security loans security market Sept September September 15 Table tion total loans trust companies York banks York City
Popular passages
Page 129 - Any Federal reserve bank may, under rules and regulations prescribed by the Federal Reserve Board, 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 bankers...
Page 164 - 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 exclusively, any Federal reserve bank may discount notes, drafts, and bills of exchange arising out of actual commercial transactions; that is, notes, drafts, and bills of exchange issued or drawn for agricultural, industrial, or commercial purposes, or the proceeds of which have been used, or are to be used, for such purposes, the Federal Reserve Board...
Page 114 - Every Federal reserve bank shall receive on deposit at par from member banks or from Federal reserve banks checks and drafts drawn upon any of its depositors, and when remitted by a Federal reserve bank, checks and drafts drawn by any depositor in any other Federal reserve bank or member bank upon funds to the credit of said depositor in said reserve bank or member bank.
Page 128 - Board, to open and maintain banking accounts in foreign countries, appoint correspondents, and establish agencies in such countries wheresoever it may deem best for the purpose of purchasing, selling, and collecting bills of exchange, and to buy and sell, with or without its indorsement, through such correspondents or agencies, bills of exchange arising out of actual commercial transactions...
Page 162 - No national banking association shall at any time be indebted, or in any way liable, to an amount exceeding the amount of its capital stock at such time actually paid in and remaining undiminished by losses or otherwise, except on account of demands of the nature following: "First.
Page 179 - These warnings, however, were only a transitory expedient and were given only momentary attention by many banks. The board was prepared, as soon as Treasury exigencies permitted, to resort to the well-known method of advancing the rate of discount.
Page 193 - Except as thus provided, no member bank shall keep on deposit with any nonmember bank a sum in excess of ten per centum of its own paid-up capital and surplus. No member bank shall act as the medium or agent of a nonmember bank in applying for or receiving discounts from a Federal reserve bank under the provisions of this Act except by permission of the Federal Reserve Board.
Page 201 - ... about turned out that way. The money is in New York. Here is the charge made to the governor of the Federal Reserve Board by a responsible public official who knows: While there is a scarcity of money for the producing sections of the West and Northwest, the South and Southwest, "we find that individual banks in New York City are borrowing from the Reserve System, in a number of cases, more than $100,000,000 each; and sometimes as much as $145,000,000 is loaned there to a single bank — twice...
Page 128 - Board and under regulations to be prescribed by said board, to open and maintain accounts in foreign countries, appoint correspondents, and establish agencies in such countries wheresoever it may be deemed best for the purpose of purchasing, selling, and collecting bills of exchange, and to buy and sell, with or without its indorsement, through such correspondents or agencies, bills of exchange...
Page 114 - The Federal Reserve Board shall make and promulgate from time to time regulations governing the transfer of funds and charges therefor among Federal reserve banks and their branches, and may at its discretion exercise the functions of a clearing house for such Federal reserve banks, or may designate a Federal reserve bank to exercise such functions, and may also require each such bank to exercise the functions of a clearing house for its member banks.