...indorsement of any of its member banks, with a waiver of demand, notice and protest by such bank, to "discount notes, drafts and bills of exchange arising...purposes, or the proceeds of which have been used, or are to be used, for such purposes." If the national bank should want to rediscount this note with a...

...will be rediscounted under the Federal reserve system. The Federal Reserve Act defines such paper as "notes, drafts and bills of exchange arising out of...purposes, or the proceeds of which have been used, or are to be used, for such purposes." Considerable authority is given the Federal Reserve Board to ilelinr...

...difficult iris that of framing a definition of commercial paper. The Federal Reserve Act specifies "notes, drafts and bills of exchange issued or drawn...purposes, or the proceeds of which have been used, or are to be used, for such purposes, the Federal Reserve Board to have the right to determine or define...

...acceptances observed in European discount markets as indicated in the provision that Federal Reserve banks may discount notes, drafts and bills of exchange arising out of actual commercial transactions. The Federal board, however, has the right to define the character of eligible paper within the meaning...

...of the system. The only paper which can be discounted by the Federal Reserve Bank is paper such as notes, drafts and bills of exchange arising out of actual commercial transactions, that is, such as are issued or drawn {or agricultural, industrial or commercial purposes or the proceeds of...

...appeal. In view of the determination of the Democratic party to limit the privilege of discount to notes and bills of exchange "issued or drawn for agricultural, industrial or commercial purposes," the question is uppermost: "what will be the effect on the Wall Street call loan market?" That National...

...change the law so as to permit member banks to accept drafts or bills of exchange issued or drawn for industrial or commercial purposes, or the proceeds of which have been used or are to be used for such purposes, (including the financing of international trade) TRUST COMPANIES...

...recent ruling made by the Federal Reserve Board that the section of the Act relating to eligibility of notes, drafts and bills of exchange issued or drawn for agricultural, industrial and commercial purposes also applies to purchase of farm machinery and equipment. 112 TRUST COMPANIES...

...not exceeding 75 per cent of the amount of specified bills held by it, these bills being promissory notes, drafts, and bills of exchange issued or drawn...for agricultural, industrial, or commercial purposes and maturing within 120 days. A reserve of not less than 33% per cent of the outstanding notes must...

...demand, notice and protest by such bank as to its own indorsement exclusively, any Federal reserve bank may discount notes, drafts, and bills of exchange...purposes, or the proceeds of which have been used, or are to be used, for such purposes, the Board of Governors of the Federal Reserve System to have the...