Board of Governors of the Federal Reserve System (U.S.), 1935- and Federal Reserve Board, 1914-1935. Interpretation of Law or Regulation: Words "Down Payment" in Section 5(f) of Regulation W Refer to the Down Payment Required by Regulation, Number S-421, Volume 56, Page 106, Mimeograph Letters and Statements of the Board. Board of Governors of the Federal Reserve System (U.S.), 1935-. https://fraser.stlouisfed.org/archival/4957/item/509766, accessed on October 5, 2026.