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At a Meeting of the Executive Committee of the Federal Reserve Board held in the office of the Board on January 4, 1919, at 12:10 P.M., PRESENT: The Governor Mr. Strauss Mr. Chapman, Assistant Secretary. PRESENT ALSO: Mr. Hamlin Mr. Williams Business was presented and disposed of as follows: Letter dated December 26th, from Mr. S. G. Sargent, Federal Reserve Examiner, Federal Reserve Bank of San Francisco, inquiring if State member banks will be required to report "Interest collected and unearned" and "Interest accrued and uncollected". Voted that the Governor reply that the Board has given consideration to the question but has reached no definite conclusion, and until action is taken, of which all Federal Reserve Banks will be duly advised, State member banks will not be required to report these items to Federal Reserve Banks. At 12:30 P.M., the meeting adjourned. Assistant Secretary. Approved:
@FedFRASER