Page:United States Statutes at Large Volume 56 Part 1.djvu/384

 U12U. S.S. SE. 8. Section 5200 of the Revised Statutes, as amended, is amended by adding at the end thereof a new paragraph reading as follows: Obligations secCud "(10) Obligations shall not be subject under this section to any limitation based upon such capital and surplus to the extent that such obligations are secured or covered by guaranties, or by commitments or agreements to take over or to purchase, made by any Federal Reserve bank or by the United States or any department, bureau, board, commission, or establishment of the United States, including any corporation wholly owned directly or indirectly by the United Promiso. States: Provided, That such guaranties, agreements, or commitments are unconditional and must be performed by payment of cash or its equivalent within sixty days after demand. The Comptroller of the Currency is hereby authorized to define the terms herein used if and when he may deem it necessary." nance Corporation. SEC. 9. Subparagraph (2) of the fourth paragraph of section 5d 54Stat. 573, 6. of the Reconstruction Finance Corporation Act, as amended, is 15U. S.C. §606b; Snpp. i, § 606b. hereby amended to read as follows: Ans for 74national "(2) To make loans to and purchase the obligations of any defensepurposes. business enterprise, including, when requested by the Secretary of Commerce, subscription to the capital stock thereof, for any purpose deemed by the Corporation to be advantageous to the national defense. Such loans, purchases, or subscriptions shall be made under such terms and conditions and with such maturi- Participation by ties as the Corporation may determine. The War Department partments. and the Navy Department are hereby authorized to participate in or to guarantee any loans made by the Reconstruction Finance Corporation pursuant to this provision, and, in connection there- with, they may use any funds heretofore or hereafter made available for purposes of procuring war materials, supplies, and equipment." Deposit of public SE. 10. All insured banks designated for that purpose by the banks. Secretary of the Treasury shall be depositaries of public money of the United States (including, without being limited to, revenues and funds of the United States, and any funds the deposit of which is subject to the control or regulation of the United States or any of its officers, agents, or employees, and Postal Savings funds), and the Secretary is hereby authorized to deposit public money in such depositaries, under such regulations as may be prescribed by the fnlEnclaente " Secretary; and they may also be employed as financial agents of the Government; and they shall perform all such reasonable duties, as depositaries of public money and financial agents of the Govern- security required. ment as may be required of them. The Secretary of the Treasury shall require of the insured banks thus designated satisfactory security by the deposit of United States bonds or otherwise, for the safe- keeping and prompt payment of public money deposited with them and for the faithful performance of their duties as financial agents of Insured deposits. the Government: Provided, That no such security shall be required for the safekeeping and prompt payment of such parts of the deposits of the public money in such banks as are insured deposits and each officer, employee, or agent of the United States having official custody of public funds and lawfully depositing the same in an insured bank shall, for the purpose of determining the amount of the insured deposits, be deemed a depositor in such custodial capacity separate and distinct from any other officer, employee, or agent of the United States having official custody of ublic funds and lawfully deposit- rteen banks, restri- ing the sme in the same insured bank in custodial capacity. Not- ton. withstanding any other provision of law, no department, board, [56 STAT. 356 PUBLIC LAWS-CH. 404 -JUNE 11, 1942

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