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Show 10 ENLARGE SCOPE OF NATIONAL BANKS AMENDMENTS TO FEDERAL RE-SERVE RE-SERVE LAW DESIGNED TO AID COMMERCE. Proposed Amendments Would Establish Estab-lish Foreign Branches and Accept Foreign Drafts or Exchange Under Board Regulations. Washington. Amendments to the : federal reserve law. designed to equip j national banks to aid commerce fur- j ther by establishing foreign branches and accepting foreign drafts or exchange, ex-change, were presented to the senate sen-ate on Thursday, as agreed upon by the house and senate conference. The federal reserve board will pass ! I on applications to establish branch , banks from banks of more than a mil- I lion dollars' capital which might act j as fiscal agents of the United States and invest 10 per cent of their capital and surp'.us in corporations principally ! engHged In international hanking. Members of the federal system j could accept three months foreign i drafts or bill of exchange under board regulations. Other regulations, widening the j field from which the federal member ' banks may accept paper for discount, would be provided, nnd national banks In places of not more than 5.000 inhabitants in-habitants would be permitted to act as agents of insurance companies. |