First Revision of "Acceptances," Sec. 19
Title
First Revision of "Acceptances," Sec. 19
Creator
Strong, Benjamin, 1872-1928
Identifier
WWP18863
Date
No date
Source
Benjamin Strong Jr. Papers, New York Federal Reserve Bank
Language
English
Text
First Revise.
ACCEPTANCES.
Sec. 19. Any National banking association may at its discretion accept drafts or bills of exchange drawn upon it, having not more than six months’ sight to run, and growing out of commercial transactions as described in this Section and as defined by the Federal Reserve Board, but no National banking association shall accept such drafts or bills of exchange to an amount at any time exceeding in the aggregate one-half of its paid-up and unimpaired capital and surplus.
ACCEPTANCES.
Sec. 19. Any National banking association may at its discretion accept drafts or bills of exchange drawn upon it, having not more than six months’ sight to run, and growing out of commercial transactions as described in this Section and as defined by the Federal Reserve Board, but no National banking association shall accept such drafts or bills of exchange to an amount at any time exceeding in the aggregate one-half of its paid-up and unimpaired capital and surplus.
Original Format
Miscellaneous
Files
Collection
Citation
Strong, Benjamin, 1872-1928, “First Revision of "Acceptances," Sec. 19,” No date, WWP18863, Benjamin Strong Jr. Papers, Woodrow Wilson Presidential Library & Museum, Staunton, Virginia.