N.Y. Comp. Codes R. & Regs. tit. 3 § 204.5

Current through Register Vol. 46, No. 45, November 2, 2024

Section 204.5 - Nordic american banking corporation

The Banking Board hereby authorizes Nordic American Banking Corporation,

(a) to act as financial agent of the United States government in connection with the sale of United States government securities issued under the authority of the Second Liberty Bond Act, as amended, and to receive deposits arising solely as the result of subscriptions made by or through it for such United States Government securities.

(b) to perform all such reasonable duties as may be required of it as depository of the public money comprising such deposits, and as financial agent of the United States government;

(c) to pledge assets or furnish other security, satisfactory in form and amount to the Secretary of the Treasury of the United States, for the safekeeping and prompt payment of such deposits and for the faithful performance of its duties as such financial agent and

(d) to receive money for transmission and to transmit the same from the United States to any foreign country and from any foreign country to the United States.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 204.5