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ANALYSIS 01 REPLIES RECEIVED FROM THE RESERVE TO QUESTIONS RE FORM, OF "kimiBaRSHJ?" BETTER (Letter 12-17-&6) (1) Bad there been any indication that applicant banks consider the letter too long, formal, coir.plicated, technical, or otherwise objectionable? No complaint: BOSTON NEW YORK PHILADELPHIA CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS KANSAS CITY DALLAS SAN FRANCISCO (2) Do you consider the letter satisfactory? What, if guy, changes do you recommend? In this connection, please consider the folio-;ing more specific questions: (a) Would you consider it advisable to delete the recitation of the standard conditions from the letter and to incorporate them only by reference to Regulation H or so^e other enclosure with the letter? (b) Do you believe th?.t it would be advisable to delete any of the other contents of the Board*s letter, with the view that, insofar as necessary, the Federal Reserve Banks will advise the applicant banks concerning the deleted items? Satisfactory: nm YORK PHILADELPHIA CLEVELAND RICHMOND No changes: NEW YORK PHILADELPHIA CLEVELAND RICHMOND - 2 Changes suggested: BOSTON: Eliminate all conditions and pertinent text. Substitute statement to effect that applicant may re* main stockholder subject to provisions of Section 9 and other applicable provisions of the Act, and to Regulations of the Board. Alter to require advice of proposed charter Changes. Suggest chanr.es only in connection with 2("aT aad 2(b) : c ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 2(a) Delete conditions? No: NEVJ YORK PHILADELPHIA CLEVELAND ATLANTA No, if any pi»escribed. BOSTON No objection, if cited in Director1s resolution: RICHMOND Yes, c (v/ith reference to Regulation ft): CHICAGO LilNNEAPOilS SAN FRANCISCO Yes, (and include in resolution form): KANSAS CITY Yes, ( v t reference to an enclosure): •ih ST. JUOUIS Yes, (and include in application form): DALLAS SAN FRANCISCO suggests inclusion of following: "You will understand, of course, that, by your application for membership in the Federal Reserve System snd its approval by the Board, you have accepted and agreed to coiaply with all of the terns, provisions and conditions contained in Regulation H, as amended, effective , regarding membership of State banking institutions in the Federal Reserve System. Your attention is specifically invited to provisions of Section 6 of said regulation, setting forth conditions upon which you have been admitted to r-ienbership. Your acceptance of membership constitutes acceptance by you of said conditions. The fact of such acceptance should be evidenced by a resolution adopted by your board of directors and spread upon its rr.inutes, and t/o certi fied copies of such resolution should be filed v;ith the Federal Resei^ve Bank." 2(b) Delete any other contents? N o cci.ii.ient: BOSTON No: NF.7 YORK PHILADELPHIA CLEVELAND RICHMOND 3T. OUIS KANSAS CITY ATLANTA; Might delete reference to payment for F. R. stock and deposit of reserves. - 4CH1CAXX3: Delete as far as possible and let Reserve Banks advise. DALLAS: Delete reference to payment for and issuance of F. R. stock and deposit of reserves, stating that Reserve Bank will advise. SAN FRANCISCO: Delete reference to resolution and filing copies thereof. (See suggestion under 2(a}). c