First Revision of "Operations and Collection Charges," Sec. 15
Title
First Revision of "Operations and Collection Charges," Sec. 15
Creator
Strong, Benjamin, 1872-1928
Identifier
WWP18867
Date
No date
Source
Benjamin Strong Jr. Papers, New York Federal Reserve Bank
Language
English
Text
First Revise.
OPERATION AND COLLECTION CHARGES.
Sec. 15. The Federal reserve bank and each of its branches and sub-branches shall receive at par all checks, drafts or other obligations of the said bank and each of its branches or sub-branches. The Executive Committee of each branch shall from time to time, subject to the approval of the Federal Reserve Board, determine and publish exchange and collection charges to be made with respect to all checks, drafts and other exchange and collection items of banks and trust companies, other than those hereinbefore mentioned, received in accordance with paragraph (c), Section 14 of this Act. Such charges shall not be in excess of the approximate actual cost of collection of such checks, drafts and other items.
OPERATION AND COLLECTION CHARGES.
Sec. 15. The Federal reserve bank and each of its branches and sub-branches shall receive at par all checks, drafts or other obligations of the said bank and each of its branches or sub-branches. The Executive Committee of each branch shall from time to time, subject to the approval of the Federal Reserve Board, determine and publish exchange and collection charges to be made with respect to all checks, drafts and other exchange and collection items of banks and trust companies, other than those hereinbefore mentioned, received in accordance with paragraph (c), Section 14 of this Act. Such charges shall not be in excess of the approximate actual cost of collection of such checks, drafts and other items.
Original Format
Miscellaneous
Files
Collection
Citation
Strong, Benjamin, 1872-1928, “First Revision of "Operations and Collection Charges," Sec. 15,” No date, WWP18867, Benjamin Strong Jr. Papers, Woodrow Wilson Presidential Library & Museum, Staunton, Virginia.