The above analysis has viewed only regulations limiting the amount of loans which a bank may grant to one borrower. Other restrictions apply to the aggregate liabilities which a bank may assume to all its customers in making acceptances. National banks were first given the right to accept drafts by the Federal Reserve Act. Under the provisions of this statute, a national bank may accept in behalf of its customers bills of exchange to a total value of 50 per cent of its capital and surplus. This power to accept drafts may be augmented to 100 per cent of the capital and surplus of the bank if the petition for this privilege is granted by the Federal Reserve Board. A bank may accept drafts arising out of transactions in foreign as well as domestic trade. While the total of these foreign acceptances may possibly equal 100 per cent of its capital and surplus, or its maximum acceptance liability, in no event may the domestic bills of exchange amount to more than 50 per cent. Acceptances based on foreign transactions may have a maturity of six months, but those growing out of domestic business may not run longer than three months. Banks engaged in international trade financing may accept drafts to create dollar exchange in certain foreign countries, provided that the aggregate of the additional drafts does not exceed 50 per cent of their combined capital and surplus, and does not have a maturity longer than three months, or one-fourth of a year. Thus a bank with a combined capital and surplus of $1,000,000 may incur a total acceptance liability of $1,500,000, constituted as follows: (1) $500,000 on acceptances arising out of domestic transactions, (2) $500,000 growing out of foreign transactions, and (3) $500,000 on acceptances drawn to create dollar exchange. Also, 1 and 2 may be combined so that the total of foreign acceptances will amount to $1,000,000, or 100 per cent of the bank's capital and surplus.