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FEDERAL I RESERVE BOARD STATEJVJENT FOR THE "CRESS. X-1905 For release on Monday morning, April 19th, 1920. On Saturday, April 17, 1920, the Federal Reserve Board approved the articles of association and organization . certificate of the First Federal Foreign Banking Association, ' a corooration organized under the terms of Section 25 (a) of the Federal Reserve Act, commonly lmown as the "Edge Act. The home office of the cornoration is New York. is $2 1 000,000. 11 Its capital It is inco~orated for the purnose of engaging in the business of international or foreign banking or other international or foreign financial operations. Pending the issue by the Federal Reserve Boarcl. of a final permit to c ornmence business the corporation has authority to exercise only those ~owers which are incidental and preliminary to its organization. Washington, D.C. A-pril 17,1920.
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