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310 BOARD O F G O V E R N O R S OF THE federal reserve system WASHINGTON S-195 a d d r e s s official c o r r e s p o n d e n c e to the s o a r d December 14, 1939 Bear Sir: The Board concurs in the action of the Conference of Presidents, held December 12, 1959, in approving, with certain modifications, the recommendations contained in the report of the Standing Committee on Collections, dated November 8, 1959, with respect to the inclusion of certain uniform paragraphs in the noncash collection circulars of the Reserve banks and the insertion of additional paragraphs in the cash collection circulars when the occasion arises for the reprinting of such circulars. As stated in the Board's letter, S-182, of September 15, 1959, Regulation G, "Collection of Noncash Items", in the form enclosed with that letter, will be adopted by the Board when drafts of the revised noncash collection circulars of the Federal Reserve banks have been received and reviewed so that an effective date for the regulation may be fixed. The effective date will be sufficiently far in advance to allow for the printing of the regulation, and the noncash collection circulars, and their simultaneous release by all Federal Reserve banks about two weeks in advance of the effective date. It will be appreciated if you will forward to the Board as soon as practicable two copies of your revised noncash collection circular. It is requested that no Federal Reserve bank make public the revised circular until the effective date has been established and the regulation released by the Board. Very truly yours, L. P• Be thea, Assistant Secretary. TO THE PRESIDENTS OF ALL FEDERAL RESERVE BANKS
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