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Mortgage loans wouldn’t for this reason seem to be for the goal underlying the new conditions regarding eligibility in area 13
Footnotes –
Paragraph step 3 out-of part 1 of the Government Set-aside Operate (twelve U.S.C. 221) defines the brand new continental Us to help you suggest brand new Claims of the All of us while the Area out of Columbia, ergo as well as Alaska and you can The state.
An excellent, 33 FR 17231, concluded from the 34 FR 1113, The month of january
( a beneficial ) Practical question has actually arisen if or not cards given of the home loan banking companies to finance their purchase and you will temporary carrying out of a property mortgage loans meet the requirements to have disregard from the Reserve Banks.
( b ) Less than area thirteen of the Government Put aside Work the latest Board has authority so you can identify exactly what are agricultural, industrial, otherwise commercial aim, which is the statutory expectations having choosing brand new eligibility from notes and you will drafts to have discount. not, for example meaning will most likely not are report level simply opportunities otherwise issued otherwise pulled for the purpose of carrying or trade into the holds, bonds, or other investment bonds.
