I want to know about...

LUTER
SCRIPTA I

VOLUME 21

%

,
9 3 4

V /.

a/iteo

Washington, Friday, December 7, 1956

1
On any time deposit except CONTENTS
Postal Savings deposits which constitute Pag9
time deposits having a maturity date Agricultural Marketing Service Chapter II Federal Reserve System less than 6 months and not less than 90 Proposed rule making:
Milk in Columbus, Ohio, mar days after the date of deposit or payable Reg. Q
keting area______________ - 9716
upon written notice of less than 6 months Rules and regulations:
and not less than 90 days.
P art 217P ayment op I nterest on c Maximum rate of 1 percent. No Oranges, navel; grown in Ari D eposits zona and designated part of member bank shall pay interest accruing MAXIMUM RATES OP INTEREST
California; limitation of han at a rate in excess of 1 percent per dling__________________1___ 9716
annum, compounded quarterly, regard 1.
Effective January 1, 1957, 217.6
Supplement to Regulation Q is amend less of the tjasis upon which such interest Agricultural Research Service may be computed:
ed to read as follows:
1 On any time deposit except Postal Proposed rule making:
Psittacosis or ornithosis in 217.6 Maximum rates of interest Savings deposits which constitute time poultry____________________ 9724
payable on time and savings deposits by deposits having a maturity date less member banks. Pursuant to the pro than 90 days after the date of deposit Rules and regulations:
Nursery stock, plants, and seeds;
visions of section 19 of the Federal Re or payable upon written notice of less serve Act and 217.3, the Board of than 90 days.
postentry quarantine______ _ 9715
Governors of the Federal Reserve Sys 2.
a. The purpose of the amendmentAgriculture Department tem hereby prescribes the following to increase the maximum permissible See Agricultural Marketing Serv maximum rates1 of interest payable by Is ice; Agricultural Research Serv rates of interest which member banks of member banks of the Federal Reserve the Federal Reserve System may pay on ice ; Commodity Stabilization System on time and savings deposits:
Service.
any savings deposit, and on any time a Maximum rate of 3 percent. No deposit having a maturity date not less member bank shall pay interest accruing than 90 days after the date of deposit or Civil Aeronautics Administra tion at a rate in excess of 3 percent per an payable upon written notice of not less num, compounded quarterly, regardless than 90 days. The amendment also elim Rules and regulations:
Standard instrument approach of the basis upon which such interest inates provisions as to maximum rates procedures; alterations 2
payable under deposit contracts entered may be computed:
documents ____________ 9693,9700
into before specified dates prior to 1936, 1 On any savings deposit, 2 On any time deposit having a ma since, with the passage of time, these pro Commerce Department turity date 6 months or more after the visions have become obsolete and of no See also Civil Aeronautics Admin istration.
date of deposit or payable upon written significance.
b. The notice and public procedure Notices:
notice of 6 months or more, described in sections 4 a and 4 b of McKinney, Arthur W. ; report 3 On any Postal Savings deposit the Administrative Procedure Act, and of appointment and statement which constitutes a time deposit.
the prior publication described in sec of financial interests ___ 9727
b Maximum rate of 2% percent. tion 4 c of such act, are not followed No member bank shall pay interest ac in connection with this amendment for Commodity Stabilization Service cruing at a rate in excess of 2% percent the reasons and good cause found, as Rules and regulations:
Marketing quota review regula per annum, compounded quarterly, re stated in section 2 e of the Boards tions; correction___________ 9716
gardless of the basis upon which such rules of procedure 12 CFR 202.2 e, and especially because in connection with Peanuts; allotment and mar interest may be computed:
this liberalizing amendment such pro keting quota for 1957 and sub sequent crops; correction__ 9716
1The maximum rates of interest payable cedures would prevent the action from by member banks of the Federal Reserve becoming effective as promptly as Federal Communications Com System on time and savings deposits as pre necessary.
mission scribed herein are not applicable to any Sec. 11 1, 38 stat. 262; 12 U. S. C. 248 1.
deposit which is payable only at an office Interprets or applies secs. 19, 24, 38 Stat. 270, Notices:
of a member bank located outside of the 273, as amended, sec. 8, 48 Stat. 168, as CONELRAD manual or guide for States of the United States and the District amended;V12 U. S. C. 264 c 7, 371, 371a, industrial radio services____ 9732
of Columbia.
371b, 461
West Shore Broadcasting Co., s This limitation is not to be interpreted B oard of G overnors of the et al.; applications for con as preventing the compounding of interest F ederal R eserve S ystem , struction permits conference at other than quarterly intervals, provided seal S. R . Carpenter, and hearing continued_____ 9731
that the aggregate amount of such interest Secretary.
Rules and regulations:
so compounded does not exceed the aggregate amount of interest at the rate above pre F. R. Doc. 56-10033; Filed, Dec. 6, 1956;
International fixed p u b l i c scribed when compounded quarterly.
8:50, a. m.
radiocommunication services. 9704
9691

TITLE 12 BANKS AND
BANKING