BANKING ACT
CONTROL IN AMERICA PRESIDENT'S SIGNATURE WASHINGTON, Aug. 25 Powerful centralised control over banking and credit, vesting unprecedented authority over the ebb and flow of credit in the Federal Reserve Board and the open market committee, was made law yesterday when President Roosevelt signed the Banking Act, 1935. Under this measure the banks may lend on collateral not now regarded as eligible, but which they consider acceptable security, and real estate loans are liberalised. The existing law guaranteeing bank deposits up to 5000 dollars is made permanent.
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New Zealand Herald, Volume LXXII, Issue 22198, 27 August 1935, Page 9
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88BANKING ACT New Zealand Herald, Volume LXXII, Issue 22198, 27 August 1935, Page 9
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