Full text of Mimeograph Letters and Statements of the Board : Interpretation of Law or Regulation: Building of New Farm Structure Where There Is Existing Structure, Materials and Services Not in Group E-1, Number S-407, Volume 55, Page 391

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391

S—l.1.07
Reg. ¥
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
INTERPRETATION OF LAW OR REGULATION
December 17, 1941

W-dl7.

Inquiries have been received as -to the appli-

cation of Regulation W to loans of $1,000 or less for the purpose of constructing new farm buildings, such as barns, silos,
poultry houses and the like, on property where there are existing buildings, such as*a farm house. The question is whether or
not the materials and services used in such construction are included in Group E-l of the Supplement. The Board has ruled that
the building of a completely new structure is not a repair, alteration, or improvement in connection with existing structures
and the materials and services would not be in Group E-l.




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