The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
38 BOARD OF G O V E R N O R S • F THE FEDERAL RESERVE SYSTEM X-9797 WASHINGTON ADDRESS OFFICIAL C O R R E S P O N D E N C E TO THE BOARD January 19, 1937 Dear Sir: Reference is made to the Board's letter of December 23, 1936 (X-9768) supplying certain code words for use in telegrams between the Federal Reserve Bank of New York and other Federal Reserve banks in connection with transactions in United States Government securities in the System Open Market Account. Under the procedure adopted effective January 1, 1937, the number of telegrams and the number of entries in the Interdistrict Settlement Fund involved in purchase and sale transactions could be reduced considerably by making settlement between the New York bank and each other Federal Reserve bank in a single amount representing the net amount due to the Federal Reserve Bank of New York, or due from the Federal Reserve Bank of New York, as a result of such transactions on a given day. Ac- cordingly, Mr. W. Randolph Burgess, Manager of the System Open Market Account, has suggested that two new code words be furnished for use in this manner in lieu of the code words furnished in the Board's letter referred to above. Pursuant to this suggestion the following code words have been designated for use in connection with transactions in United States Government securities in the System Open Market Account and should be inserted X-9797 - 39 2 on page 154 of the Federal Reserve Telegraph Code, following the word >• A •" JUMTOLD: JUMTYNE - We credit you today in the Interdistrict Settlement Fund, (A) S representing the net amount due you as a result of transactions today in United States Government securities in System Open Market Account as follows: Credits due you, (B) & par value, (C) $ premium, (D) $ accrued interest, (E) # discount, (?) $ profit on sale, less credits due us, (G) 4 premium, (H) i accrued interest, (I) $ discount, (J) $ loss on sale. The classification of your pro rata share in total holdings at the close of business today is (K) # par value Treasury bills, (L) $ par value Treasury notes, (l«l) $ par value Treasury bonds. JUMYAK - Credit us today in the Interdistrict Settlement Fund, (A) $ representing the net amount due us as a result of transactions today in United States Government securities in System Open Market Account as follows: Credits due us, (B) ijp par value, (C) $ premium, (D) $ accrued interest, (e) 8 discount, (F) § loss on sale, less credits due you, (u) $ premium, (H) $ accrued interest, (I) $_ discount, (J) $ profit on sale. The classification of your pro rata share in total holdings at the close of business today is (K) # par value Treasury bills, (L) par value Treasury notes, (M) $ par value Treasury bonds. Very truly yours, Assistant Secretary. TO PRESIDENTS OF ALL FEDERAL RESERVE BANKS
@FedFRASER