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Form F. R. 131 BOARD OF GOVERNORS OP THE FEDERAL RESERVE SYSTEM Office Correspondence o ltr# Eccles Subject: Attached memorandum Apropos of ay memorandum to you of April 17 on the legislative proposals made by the Federal Home Loan Bank Board, you may wish to have the attached summary showing loans and investments made by the Federal Government to assist building and loan associations* 7 LOAMS AMD INVESTMENTS BY FEDERAL GOVERNMENT IN BOILDING AND LOAN ACTIVITIES Bonds of Home Owners1 Loan Corporation as of June 12, 1936, given in exchange for mortgages in distress held by building and loan associations* $ 875,300,000 Paid subscription from Federal funds as of January 1937 for stock of the Federal Home Loan Banks - 99*7$ of whose member institutions are building and loan associations. 119,972,500 Loaned by the Reconstruction Finance Corporation as of November 30, 1936, to building and loan associations (including receivers of building and loan associations). 116,559,180 Paid subscription by the United States Treasury and Home Owners1 Loan Corporation as of January 13, 1937, for shares of the Federal Savings and Loan Associations. 177,084,200 Paid subscription by the Home Owners1 Loan Corporation as of January 13, 1937, for shares of State building and loan associations* Paid subscription by Home Owners1 Loan Corporation as of November 50, 1936, for shares of the Federal Savings and Loan Insurance Corporation - only building and loan associations are eligible for this insurance protection* Total Amount repaid as of November 30, 1936, by building and loan associations to Reconstruction Finance Corporation * Net amount of funds loaned or invested by the Federal Government in building and loan associations and in instrumentalities of the United States serving principally building and loan associations. 22,094,900 100»000«000 #1.411,010,780 115,845,175 #1,297,165,605
@FedFRASER