Commercial Banking Practice Under the Federal Reserve Act; the Law And the Regulations, Rulings And Opinions of Counsel of the Federal Reserve Board Governing Bank Acceptances, Rediscounts, Advances And Open Market Transactions of the Federal Reserve Bank
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In our eReader you can find the full English version of the book. Read Commercial Banking Practice Under the Federal Reserve Act; the Law And the Regulations, Rulings And Opinions of Counsel of the Federal Reserve Board Governing Bank Acceptances, Rediscounts, Advances And Open Market Transactions of the Federal Reserve Bank Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Commercial Banking Practice Under the Federal Reserve Act; the Law And the Regulations, Rulings And Opinions of Counsel of the Federal Reserve Board Governing Bank Acceptances, Rediscounts, Advances And Open Market Transactions of the Federal Reserve Bank
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The mere fact that a borrower on a given note is a cotton factor does not of itself render that note ineligible since its eligibility is a matter to be determined by the use to which the proceeds of that particular note are put.
(Ruling, Federal Reserve Bulletin, November, 1919, page 1054.) If a cotton factor's loans to customers are evi- denced by the customers' notes, these notes could be indorsed and discounted by the factor and might then be eligible for rediscount upon satisfactory evidenc...e that the proceeds of the loans have been or are to be used for agricultural or commercial purposes. Moreover, when a factor sells cotton on credit terms which are customary and which are not unnecessarily or unreasonably long, a note or accepted draft for the amount of the purchaser's obligation will have been issued or drawn for a com- mercial purpose and may be eligible for rediscount.
(Ruling, Federal Reserve Bulletin, November, 1920, page 1176.) A note given by a corporation furnishing motor transportation to the seller in payment for motor trucks purchased is commercial paper in the hands of the seller and may therefore be eligible for redis- count after it has been discounted by the seller.
What to read after Commercial Banking Practice Under the Federal Reserve Act; the Law And the Regulations, Rulings And Opinions of Counsel of the Federal Reserve Board Governing Bank Acceptances, Rediscounts, Advances And Open Market Transactions of the Federal Reserve Bank?
You can find similar books in the "Read Also" column, or choose other free books by Bank of Commerce in New York to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The mere fact that a borrower on a given note is a cotton factor does not of itself render that note ineligible since its eligibility is a matter to be determined by the use to which the proceeds of that particular note are put.
(Ruling, Federal Reserve Bulletin, November, 1919, page 1054.) If a cotton factor's loans to customers are evi- denced by the customers' notes, these notes could be indorsed and discounted by the factor and might then be eligible for rediscount upon satisfactory evidenc...e that the proceeds of the loans have been or are to be used for agricultural or commercial purposes. Moreover, when a factor sells cotton on credit terms which are customary and which are not unnecessarily or unreasonably long, a note or accepted draft for the amount of the purchaser's obligation will have been issued or drawn for a com- mercial purpose and may be eligible for rediscount.
(Ruling, Federal Reserve Bulletin, November, 1920, page 1176.) A note given by a corporation furnishing motor transportation to the seller in payment for motor trucks purchased is commercial paper in the hands of the seller and may therefore be eligible for redis- count after it has been discounted by the seller.
What to read after Commercial Banking Practice Under the Federal Reserve Act; the Law And the Regulations, Rulings And Opinions of Counsel of the Federal Reserve Board Governing Bank Acceptances, Rediscounts, Advances And Open Market Transactions of the Federal Reserve Bank?
You can find similar books in the "Read Also" column, or choose other free books by Bank of Commerce in New York to read onlineMoreLess
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