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To: Toddsterpatriot
Re:Since member banks are only required to pay half the price of their stock

They only get paid for capital they actually contributed, so it's 6%.


Not according to the Fed:

"Member banks must subscribe to stock in their regional Federal Reserve Bank in an amount equal to 6 percent of their capital and surplus, half of which must be paid in while the other half is subject to call by the Board of Governors...... Member banks receive a 6 percent dividend annually on their stock, as specified by law .... "
http://www.federalreserve.gov/pf/pdf/pf_complete.pdf
31 posted on 07/30/2014 11:41:06 AM PDT by khelus
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To: khelus
They have to buy a certain amount of stock. Half now, half if the Board of Governors tells them.

They don't get paid for the stock they didn't buy yet.

32 posted on 07/30/2014 12:15:47 PM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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