Show TO ENLARGE SCOPE OF NATIONAL BANKS amendments TO FEDERAL RE SERVE LAW DESIGNED TO AID COMMERCE proposed amendments would establish foreign branches and accept foreign drafts or exchange i under board regulations s washington amendments to the federal reserve lawi law designed to equip national banks to aid commerce further by establishing foreign branches and accept accepting ilig foreign drafts or exchange were vere pres presented anted to the senate on thursday day 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 act as fiscal agents of the united states and invest 10 per cent of their capital and surplus in corporations principally engaged la in international banking members of the federal system dyste m could accept three tareo months foreign drafts or bills of exchange under board regulations other regulations widening the field from which the federal member banks may accept paper for discount would be provided and national banks banki in places of not more than inhabitants would accas act as gents agents of insurance companies |