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8-75 BOARD OF GOVERNORS 379 of the FEDERAL RESERVE SYSTEM washington a d d r e s s official t o t h e c o r r e s p o n d e n c e b o a r d February 14, 1938. SUBJECT: Industrial Loan Advances to Protect Collateral. Dear Sir: For your information there is inclosed a copy of a letter sent to the Federal Reserve Bank of Richmond with respect to advances to protect collateral held by the Federal Reserve banks as security for Section 15b loans. Very truly yours, L. P. Bethea, Assistant Secretary. Inclosure. TO PRESIDENTS OF ALL FEDERAL RESERVE BANKS EXCEPT RICHMOND \ S-75-a February 14, 1938. Mr. J. S. Walden, Jr., First Vice President, Federal Reserve Bank of Richmond, Richmond, Virginia. Dear Mr. Walden: In response to your inquiry of Februaiy £, advances to protect collateral held by the Federal Reserve banks as security for Section 15b loans should be included in the calculation of the amount of Federal Reserve bank funds advanced and under commitment as reported on Form B-23. Very truly yours, (Signed) L. P. Bethea L. P. Bethea, Assistant Secretary.
@FedFRASER