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424 BOARD OF GOVERNORS S-16 OF" THE FEDERAL RESERVE SYSTEM WASHIN13TON ADDRESS OFFICIAL. CORRESPONDENCE TO THE SOARD Juiy 19, 1907. Dear Sir: There is inclosed for your information a copy of a letter which the Board is send:5.ng today to Mr. Hill, Vice President of the Federal Reserve Bank of Philadelphia., with reference to the question of whether the term "records" as used in the Board's letter X-9842-a of March 15, 1937, regarding the destruction of records, should apply to working papers compiled qy examiners for the Fedoral reserve banks in the course of their field <:;Xamina tions. Very truly yours, ·_ ~~ ~ L. P. Bethea, Assistant Secretary. Inclosure. TO PRESIDENTS OF ALL FEDERAL RESERVE BANKS. 425 S-16-a. July 19, 1957. Mr. E. c. Hill, Vice President, Federal Reserve Bank of Philadt~lphia, Philadelphia, Pennsylvania. Dear Mr. Hill: This refers to your letter of July 8, 1957, inquiring whether the term "records" in the request made in the Board's letter of March 15, ot the bank examination departments of the Federal reserve banks be destroyed wi tbout tho advance approval of the Board ot Governors, should be construed to include examiners • working papers which are oompiled during the course of field examinations. 1957, X-9842-a, that no records It was not intended that the term "records" as used in the Board's letter X-9842-a should app]J' to examiners' working papers, and accordingly the determination of the period of time during which such papers are retained and the disposition thereof are matters which are left to the diacretion of the respective Federal reserve banks. Very truly yours, (Signed) L. P. Bethea L. P •. Bethea, Assistant Secretar,y.
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