Show TO ENI 6 PE OF NATIONAL amendments TO FEDER FEDERAL AL RE SERVE LAW DESIGNED TO AID COMMERCE proposed amendments would establish foreign branches and accept foreign drafts or exchange under board regulations washington ras hington amendments to the federal reserve law designed to equip national banks to aid commerce fua further by establishing foreign branches branche and accepting foreign drafts or exchange were presented to the senate on thursday as agreed upon by the house and senate conference the federal reserve board will pass on applications to establish branch banks from banks of more than a million dollars capital which might t act a ns 8 fiscal agents of tho the united states and invest 10 per cent ot of their capital oud and surplus in corporations principally engaged in Int international ernat tonal banking members of bf abe lie federal system ca could uld accept three months foreign drafts or bills of ex exchange chanke un under der be board rd regulations other regulations widening the field from which the federal member bunks banus may accept paper for di discount would and national banks in places of not moro more than inhabitants would be permitted to act as ag agents ants of at insurance companies |