Page:United States Statutes at Large Volume 38 Part 1.djvu/281

 262 SIXTY-THIRD CONGRESS. Sess. II. cs. 6. 1913. assets and liabilities of the Federal remrve banks, single and combined, and shallfurnish full information regarding the character of the money held as reserve and the amount, nature and maturities of the paper and other investments owned or held by Federal reserve anks. R¤¤¤¤¤¤¤¤*·¤1>•P¤· (b) To permit, or, on the affirmative vote of at least five members of the Reserve Board to  Federal reserve banks to rediscount the discounted per of o er Federal reserve banks at rates of m- terest to befixegih the Federal Reserve  _ ,,§ f’""°'"’ (c) To suspend lor a period not exceeding thirty days, and from _ time to time to renew such suspension forédperiods not exceeding {-’§";’,§",,;,,,d_ fifteen days any reserve requirement specrfi m this Act: P _, That it shall establish a graduated tax upon the amounts 131 which Gwumnm the reserve requirements of this Act may be permitted to f below the level hereinafter specihedz And pnwukd further, That when the gold reserve held t Federal reserve notes falls below forty per centum, the Fed Board shall establish a graduated tax of not more than one per centum per annum ulpon such deficiency until the reserves fall to thirty-two and one-ha Blper centum, an when said reserve falls below thirty-two and one—h per centum, a tax at the rate increasingl of not less than one and one-half per centum per annum upon eacln two and one—half per centum or fraction thereof · that such reserve falls below thirty-two and one-half per centum. mg?°•°° °‘ “‘°""‘ The taxshall he paid by the reserveba.uk,butthe reserve bmshall add an amount equal to said tax to the rates of interest and discount C I {Exim fixz%b'1y:theFederalIf1eserveBoarh;·1(hth b d th h °¤'*’° ° osuperv1se_ an re tet e ureauuner ecarge mr of the Comptroller of the &r1iiaxnlcy thiigissue and retirement of Federal reserve notes, and to prescribe es and rqgnlations under which such notes may be delivered by the Oomptro er to the Federal reserve agents applying therefor. B•¤" me (e) To d to the number of cities classified as reserve and central reserve cities under existing law in which national banldng associap,.,,,_m_ tions are subject to the reserve requirements set forth m section twenty of hl11S Act; or to reclassify existing reserve and central reserve cities or to terminate their designation as such. d§;“°"'° "°'* °“‘ (f) To suspend or remove any officer or director of any Federal reserve bank, the cause of such removal to be forthwith communicated in writmdg by the Federal Reserve Board to the removed omcer or director an _ to said bank. ”°“""°’ '“°°'· Ig) To require the writing off of doubtful or worthless assets upon the ks and balance sheets of Federal reserve banks. ,§,"§§,“;{‘gl‘ °‘ '°' (h) To suspend, for the violation of any of the provisions of this Act, the opelrations of any Federal reserve bank, to take possession thereof a ister the same during the period of suspension, and, when d’eemed_advisable, to liquidate or reorganize such bank. ,,,,‘§,?"‘§(,§,,,,"“@,2: (i) To require bonds of Federal reserve agpnts, to make regulations ¤¢¤- for the safeguarding of all collateral, bon, Federal reserve notes, money or property of any kind diposited in the hands of such agents, and said board shal erform e duties, functions, or services specified lll this Act, and make all rules and regulations necessary to enable said board effectively to perform the same. ,§}},"§,,,"Q;§‘f“ °‘ '°‘  To exercise general supervision over said Federal reserve banks. F*=*¤¤¤¤v ¤·’¤¤¤=· ) To grant by special permit to national banks a 1 therefor . PP,Ymg 1 when not m contravention of State or local law, the right to act as trustee, executor, administrator, or registrar of stocks and bonds under such rules and regulations as the said board ma prescribe. E"“"°’°°'· (1) To employ such attorneys, experts, assistants, clerks, or other employees as may be deemed necessary to conduct the business of the board. All salaries and fees shall be fixed in advance by said board and shall be aid in the same manner as the salaries of the P