The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F E D E R A L R E S E R V E BANK OF SAN FRANCISCO
January
1940
Bank of America Jlatioaal Trust
St Savings
Association,
Sen Francisco,
California.
Sin*
attention:
Mr, \ i t 14,
l e t r « i n receipt of your l a t t e r dated
January 23, 1940, inquiring a® to the formalities involved in the conversion of Bank of Aaerica Rational
Trust it Savings Association into a state SH»b*r bank
under the provisions of the Callfojsiis^ank Act.
understand that this inquiry relates primarily to the
steps to >>e taken for aeabei^hip of the n^w state bank\
in the Federal Eeserve Sys + ^
^
I n / A d d i t i o n ^ the t^rwinrtion of the saaber»hi,p of the/national bank in th^Federal reserve Systea,
i t will be/necessary to follow tiht procedure prescribed
l>y~£ection 9 of the Federjal 1 esaiVe Act end Regulation *H*
of the Boi
of Governors of the Federal Heserve Syaten
issued pursuant thereto/ *kieh will involve the f i l i n g
of an application fgjMienbershlp by the ne* state bank,
i
This is Jhe effect of an opinion of Counsel to ths
V
Federal serve Eoard dated December
1916, and published
on p j ^ e s 117-118 of the 1917 Federal Reserve Bull a t i n .
^-^Ar-eopy of Regulation
i s enclosed for your in; praatian.
»
We trust that this w i l l answer your Inquiry.
Very t r u l y yours,
{Sifl!N€L) W M -
A.
Presidsnt
lacloaura
DAY
@FedFRASER