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Given to President 3/23/35 Classification of mattera to be bandied by the Board of Governors of the Federal Heserve System no»mRX POLICI LSlIcLiTIO?< AND PUBLIC IC I MTTERS J Governor A. Chairmen of the Board \ 1, 2. S« 4, 5, 6, Open •ssrket operations, discount rates, and reserve requirements Interest rates of member banks Government finance Legislation affecting Federal Reserve Systeis Public relations of Federal Reserve System Supervision of Board's staff Under the t eras of the B&nicing Act of 1955, the President will designate one member of the Board as Chairnmn &nd one as Vice Chairmen, to serve &s such for a term of four years. The Chairman, subject to the Board's supervision, will be the active executive officer of the Board and efaadLraan of it? Executive Gorsmittee. He will ba the aoilii of contact between the Boerd and the various gov-erniaent deportments and agencies end the federal Advisory Council. The Vice Chairman will perform the duties of the Chairmen in trie absence of the letter. He will also be Vice Chairmen of the Bo^rd'r: Executive Coa^aittee and, in addition to his regular assignments as a Mafe*T of the Board, he should hcndle such other subjects as may be &e£i -ned to him from time to time by the Chairmen with the approval of the Board, IHTSBUIXOKAL BANKING CAPITAL MARKET Governor B 1. 2* S. 4* Relations of Federal Reserve banking systoja with foreign banks International Exchange Acceptance market Institutions sngasred in internetional and foreign banking subject to sections 25 and £5(a) of Federal Reserve Act, end tions thereof 5. Capital market ECONOrllC Sfl Governor C Collection and interpretation of monetary, banking, financial^ and basiiMiM information* • t • FEDERAL REBKftVK BASK AMD UiMBBX BANK CREDIT Governor D !• Loans and investments of member Z» Discounts and advances of Federal Reserve banks (including industrial loan activities) and questions of eligibility of paper for discount $• Purchases by Federal Reserve banks of securities and bills (other than through system investment account) 4* Loans by other Governmental lending agencies ADHXSSIOH TO MEMBERSHIP AND OPERATIONS OF MEMBB : BAHKS Governor £ 1* Admission to, conditions of, and termination of membership l« Supervision and examination of State member banks» branchest mergers, consolidations, adjustments of capital structure, trust powers, maintenance of required reserves, e t c , of member banks} relations regarding these matters v.ith Federal Deposit Insurance Corporation, Reconstruction Finance Corporation, and Comptroller of the Currency 3, Relations with holding company and other affiliates} examination of affiliates) and issuance and revocation of voting permits of holding company affiliates 4* Classification of member tanks and procedure for election of class *A" and class "B* directors of Federal Reserve banks FEDEHAIi M N H H BANK OPERATIONS Governor F Zm 5# 4. 5* 6* and services of Federal Re&erve banks and reimbursement© thereforj reserves for losses; chargeoffs and dividend©; approval of salaries &nd classification plans$ retirement system Examinations of Federal Reserve banks Clearance and collection eysteae, gold certificate settleaent funds, and leased wire system Issuance and cancelstion of Federal B&&errQ bank stock Issuance and redemption of currency Establishment, regulation and discontinuance of branchea and agencies, and determination of district and branch territorial limits —§** immumim statsm wma AHD OTHEE REUTZOSS OF DIEICTOIS, omcsas IBB JiSI%0fHSS OF XBI81R B A M 3 AKD FE$)KEUL B1S1E?B B A M S .» I* ><, L* G Extension and mftitttenemce of credit by bickers, dealers, bunk® and others for purchasing or carrying securities Interlocking relations of direotora^ offio«rs and employees of b&isks serrisg oih@i* banks mud aeeuritj dealer® iE^aaa to ejc®catlv# o.ffic©rs of m^aber baiiks Outsida bnaineas and ot^er relations of directors» »f floats and §* Heaoral ot 4ir©ct©r6f officers and enj&oyeea of Federal mud member baidcsi disposition of crimiis&l oliarges 1* lppr©Tsl of &ppQlafcsi#ni$ of Frenide^t® and ?i@e Presidents of Federal Eeserre bank® S« ippointaents of class n0* directors of Federal B»s^rw% b&nka and director® of brancheisj appoiiteemts and salaries of Federal Eeserre &geats and wmtom& of their staffs 4* In the abseaoe of a quorum of the Board, the transaction In accordance with established principles m& policies of the Board of business which saj require action In %ho absence of The Executive Oosstlttet will b® composed of three members of the Board — the Chairman, the Vic® Chairman, and one of the other meabers of the Board who will be selected in rotation to serve on the Executive Cornaitie© for two months each* The third aaemb@r of the Ooanittee will be Chairman pro tern of the Board In the absence offeeChairman and Vice Chair ma&*
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