An Act to amend section 14(b) of the Federal Reserve Act, as amended, to extend for 2 years the authority of Federal Reserve banks to purchase U.S. obligations directly from the Treasury
PL 88-344 (H.R.11499), enacted 06/30/1964

78 STAT. ] 
PUBLIC LAW 88-345-JUNE 30, 1964 
235 
Public Law 88-343 
AN ACT 
To extend the Defense Production Act of 1950, and for other purposes. 
June 30, 1964 
[H. R. 10000] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assemhled^ That section 717(a) 
of the Defense Production Act of 1950 is amended by striking out 
"June 30,1964" in the first sentence and inserting in lieu thereof 'vTune 
30, 1966". 
SEC. 2. Section 303(b) of the Defense Production Act of 1950 is 
amended by striking out "June 30, 1965" and inserting in lieu thereof 
"June 30,1975". 
SEC. 3. Section 304(b) of the Defense Production Act of 1950 is 
amended by striking out the period at the end of the next to last sen-
tence and inserting in lieu thereof a colon and the following: '•''Pro-
vided^ That no new purchases or commitments to purchase under sec^ 
tion 303 shall be made or entered into after June 30,1964 (except pur-
chases made pursuant to commitments entered into on or before such 
date), unless the President makes a finding that such new purchases or 
commitments are essential to the national security: Provided 
further^ 
That the total of such new purchases and commitments, includmg con-
tingent liabilities, made or incurred under section 303 after June 30, 
1964, shall not exceed $100,000,000." 
Approved June 30, 1964. 
Defense Produc-
tion Act of 1950. 
Extension. 
67 Stat. 131; 
76 Stat. 112. 
50 u s e app. 
2166. 
70 Stat. 408. 
50 u s e app. 
2093. 
New purchases, 
restriction. 
50 u s e app. 
2094. 
65 Stat. J3<3. 
eontingent liabil-
ities, limitation. 
Public Law 88-344 
AN ACT 
To amend section 14(b) of the Federal Reserve Act, as amended, to extend for 
two years the authority of Federal Reserve banljs to purchase United States 
obligations directly from the Treasury. 
June 30, 1964 
[H. R, 11499] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled^ That section 14(b) 
of the Federal Reserve Act, as amended (12 U.S.C. 355), is amended 
by striking out "July 1, 1964" and inserting in lieu thereof "July 1, 
1966" and by striking out "June 30,1964" and inserting in lieu thereof 
"June 30, 1966". 
Approved June 30, 1964. 
Federal Reserve 
Act, amendment. 
61 Stat. 56; 
76 Stat. 112. 
Public Law 88-345 
AN ACT 
To extend the period dui'ing which responsibility for the placement and foster 
care of dependent children, under the program of aid to families with depend-
ent children under title IV of the Social Security Act, may be exercised by a 
public agency other than the agency administering such aid under the State 
plan. 
June 30, 1964 
[H. R. 9688] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled^ That section 155(b) 
of the Public Welfare Amendments of 1962 is amended by striking 
out "June 30, 1964" and inserting in lieu thereof "June 30, 1967". 
Approved June 30, 1964. 
76 Stat. 207. 
42 u s e 608 note.