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DIVJSIOK M of Janvary 27, 1956* Scope of Activities The Division: Field: A. Examines: 1. Federal reserve banks and their branchesj 2. The Head Office of The Chase Bank, New York, the only "Edge Bankft now operating (organized under Section 25A of the Federal Reserve Act); 3. Upon occasion, corporations operating under agreements with the Board made in accordance tf&th Section 25 of the Federal Reserve Act; 4. On rare occasions, when directed by the Board, the Division participates in examinations of member banks or banks applying for membership, or for other reasons. Office: B« Analyzes, and prepares reports to the Board, on applications and data regarding: 1. State banks for membership in the Federal Reserve System j 2« Holding company affiliates for voting permits; 5. National banks for trust powers; 4. Consolidations, mergers, establishment of branches* eijc, involving State member banks* 5. Interlocking Directorates, C. Reviews reports of examination of State member banks and upon occasion reports of examination by other authorities, D. Drafts communications regarding the various matters enumerated* E. Cooperates with other Divisions in consideration Q £ various matters and preparation of data for the Board. F. Has been actively engaged, in cooperation with the Federal Reserve Agents, the Reconstruction Finance Corporation, and the Treasury ^Department, in pressing the recapitalisation program for State member banks which was inaugurated in 1955 • DIVISION of January £7, 1956,, LEO H. PAULGER Chief ft. F. Leonard Asst. Chief C. E. Cagle Asst, Chief Applications Membership Reviews Examination Reports General Correspondence Voting Permits Interlocking Directorates Review fcork Prepares Correspondence F. J* Drinnen Fed* Reserve Examiner (Works in the Field) Examines Federal Reererve Banks R. B. Chamberlin Fed. Reserve Examiner Applications for Trust Powers; Consolidations; Mergers, etc. Prepares Correspondence II. R. Wilkes Fed* Reserve Examiner Recapitalization Program State Member Banks Corporations Operating Under Sec. 25 and
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