Show i rM 1ST ESTABLISH ABUSH FEDERAL re BANKING SYSTEMS FOR CORPORA CORPORATIONS lIONS Rules Governing Entry of D k- k American Bankers Into nto l tt Foreign Fields r At t If Washington March 21 21 Establish Establish- of or a federal system of ot al b banking practically Ill is provided by by- bythe tho the r recently enacted Edgo o amend amend- neat ment to the tho federal reserve act according ac- ac cording carding c ct t to an n 1 announcement tonight ht by by- by Governor Harding in making pub- pub lie lac rules and regulations governing g the tho entry of American corporations Into the torel foreign banking field fleM While Whilo tho the law was designated rit mn permit American Investors manly to I b by means of or corporations to assist in tho reconstruction of Europe Mr Harding believed that this was was wag a narrower nar- nar r rower Vcr view The organization of or finan- finan c cl cial institutions to assist Europe M should form torm tho basis for a a. new era era of oC 2 International competition he said The immediate effect of oC tho the organization and operation of or such agents would be beto to make available long IonS term credits to tho the war devastated nations but Mr Harding explained this was only ono one M incident to the tho permanent development of ot a greater export market for Am r- r lean ican industries As a n result of oC tho the broad tlc ties opened by tho new law Mr HardIng Hard Hard- 2 ing Ing said sald the federal reserve board an- an that many changes In its first regulations would have havo to bo ho made T I Tho The Tho general rules however aro u-o expected expect expect- ed cd l to remain the same same- |