act Dec. 23, 1913, ch. 6, § 13bJune 19, 1934, ch. 653, § 148 Stat. 1105Aug. 23, 1935, ch. 61449 Stat. 714Section, , as added , ; amended , title III, § 323, , authorized Federal Reserve Banks to make loans to industrial and commercial businesses and to discount or purchase industrial obligations from financial institutions, and created an industrial advisory committee.
Statutory Notes and Related Subsidiaries
Effective Date of Repeal
Pub. L. 85–699, title VI, § 60172 Stat. 697, , , provided that the repeal of this section is effective one year after .
Savings Provision
Pub. L. 85–699, title VI, § 60172 Stat. 697, , , provided that the repeal of this section shall not affect the power of any Federal Reserve bank to carry out, or protect its interest under, any agreement theretofore made or transaction entered into in carrying on operations under this section.
Fund for Management Counseling
Pub. L. 85–699, title VI, § 602(a)72 Stat. 69812 U.S.C. 352asection 636 of Title 15, (b), , , required Federal Reserve banks to repay to the United States certain amounts paid to them under , such amounts to be covered into a special fund for grants under , Commerce and Trade. See text of note set out under that section.