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220 BOARD OF GOVERNORS .. OF" THE FEDERAL RESERVE SYSTEM WASHINGTON ADDRESS DF"F"ICIAL CORRESPONDENCE TO THE BOARD May 16, 1942 • Dear Sir: Enclot>ed for your info:r;r,ation and. files ... is a copy of a letter addrr:;ss8d to a Federal He·serve Bank Nith referencP to the. classification of • certain items for ~~urposes of Regulation W. Very truly yours, .. ~p--:..:..··;;_:, /-::· . •' ~ .,?.-" - .. .. -- .· · ;'/ .--·/ trc,l-t-·UA--· L. P. BethetJ., Assistant Secretary • Enclosure TO THE PRESIDENTS OF ALL .fi'EDEhAL RESERVE BANKS • 221 S-481-a May 13, 1942 .-• Mr. , First Vice President, .______________________,f - - - - - - - - - Federal Reserve Bank o Dear Mr. .. • • Receipt is acknowledged of your letter of May 7, 191+2, in which you :point out that according to common trade terminology, as used in many department stores, "wearing :tpparel" covers outer garments such as coats, suits, dresses, blouses, skirts, etc., and that the term "accessories" has been used to apply to such items as gloves, hosier,y, underuear, negligees, and the like. However, you have stated , definitely that for the purposes of Regulation W, the term "wearing apparel" as used in section 13, includes all such accessory items and any other items of apparel whether under or outer garments, including infants' wear • The Board agrees with your interpretation. VerJ truly yours, .. • • (Signed) L. P. Bethea L. P. Bethea, Assistant Secretary •
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