Full text of Mimeograph Letters and Statements of the Board : Copy of Letter re Views of Federal Reserve Bank of Richmond on Uniform Meeting Date, Number X-9436, Volume 44, Page 105

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105
.,

COPY
FEDERAL RESERVE BANK

X-9436

OF RICHMOND

Jnnuary 10, 1956

Board of Governors of the
Federal Reserve System,
Washington, D. c.
Attention of Mr. Chester Morrill, Secretar,y
Gentlemen:
I wish to advise that at the regular meeting of
.our Board of Directors held yesterday there was read the
Board of Governors' "X" letter 9407, as forwarded us under
date of December 27, 1935, in connection with the adoption
of a uniform date for the holding of the meetings of the
boards ~f directors of the various Federal reserve banks.
Following a discussion of the subject the selection of a suitable date was considered, whereupon our
board voted unanimously in favor of the adoption of a uniform date, as per the enclosed copy ·Jf the moti?n as approved.
In connection with the pr~posnl of the second
Thursday in the month as the preferable date attention is
called to that portion of the motion which states the reasons which actuated our board in their selection.
Yours very truly,
(Signed)

George J. Soay

George J. Seay
Governor

Enclosure



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106
QQll
FEDERAL RESERVE BANK

X-9436-a

OF RICHMOND ·
Action of Directors at Meeting Held JaDU&l'f 9, 1936,
Subject "Desirability of UDi~ora Date for Meeting of
Boards of Directors of Federal Reserve Banks."

That this Board of Directors is in accord with the
suc1estion of the Governors' Conference that it is desirable that
meetings of the boards of directQrs of the twelve Federal reserr~
banks be held on the same date and that this board favors the
second Thursday of the month as the UDifo~ date. The reasons
tor this selection are summarized ae follows:
A greater number of the Federal reserve banks are
at present having the meetings of their directors on Thursday.
The second Thursday is preferable,. in that those
banks baring meetings twice a · mGnth ·could regularly meet on the
second and fo~ Thursdays, while the first Thursday would frequently be too early in the month to permit of the preparation of
the calendar monthly reports and there is not a fifth Thursday
in evory month.
·

**********

I hereb,y certify that the above is a true copy of a
motion adopted at tbe meeting of the Beard of Directors
of the Federal Reeerve Bank of Richmond held at Richmond on Thursday, January 9, 1936.
(Signed)

Geo. H. Keesee

Geo. H. Keesee
Secretary