Volume 41
Public Law 66–128
To amend the Act approved December 23, 1913, known as the Federal Reserve Act.
Approved April 13, 1920
Statutory text
An Act
To amend the Act approved December 23, 1913, known as the Federal Reserve Act.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That section 14 of the Federal Reserve Act as amended by the Acts approved September 7, 1916, and June 21, 1917, be further amended by striking out the semicolon after the word “business” at the end of subparagraph (d) and insert in lieu thereof the following: “and which, subject to the approval, review, and determination of the Federal Reserve Board, may be graduated or progressed on the basis of the amount of the advances and discount accommodations extended by the Federal reserve bank to the borrowing bank.”
Approved, April 13, 1920.