The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BOARD WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE TO T H E FEDERAL RESERVE BOARD ANRIL -F ^ SUBJECT: 2 3 1QPQ S L J O Quarterly r e p o r t of Member Banks "borrowing from Federal reserve bank. Dear S i r : Daring the p a s t several y e a r s , you have been f u r n i s h i n g the Board with r e p o r t s on Form S t . 3677, coveri n g member "banks "borrowing from the Federal r e s e r v e "bank continuously i n excess of c a p i t a l and s u r p l u s d u r i n g the r e p o r t mdnth. The Board would l i k e to expand t h i s report to include a l l s u b s t a n t i a l l y continuous "borrowers, and accordingly i t w i l l be a p p r e c i a t e d i f , beginning with the f i r s t q u a r t e r of t h i s y e a r , you w i l l f u r n i s h the Board with q u a r t e r l y r e p o r t s on Form S t . 6l%0, a copy of irhich i s a t t a c h e d , i n l i e u of r e p o r t s on form S t . 3o77ยป which may be d i s c o n t i n u e d . The new form, you w i l l n o t e , c a l l s f o r r e p o r t i n g the c a p i t a l and surplus and average d a i l y borrowings of inember banks t h a t were s u b s t a n t i a l l y cons t a n t borrowers during the q u a r t e r , i . e . , banks borrowi n g f o u r - f i f t h s of the time (on 73 o r more days of the q u a r t e r ) , a l s o the number of days on which the member bank was i n debt to the Federal r e s e r v e bank d u r i n g the l a s t four quarterly periods. F i f t y copies of the new form a r e b e i n g f o r * warded to you today under separate cover. By -order of t h e Federal Reserve Board. Very t r u l y y o u r s , E. M. McClelland, Assistant Secretary. COPY TO ALL GOVERNORS* F. % Rt Board form S t . GlJO A p r i l 1929 474 MEMBER BAITKS BORROVJIITG- FROM THE FEDERAL RESERVE BAHlt OF POUR-FIFTHS OF THE TIME* DURING THE QUARTER ENDING Location Name of bank Average Capital Number of days t h a t hank was i n debt borrowand to F. R. Bank during . ings surplus the ].ast during a t end quarter of 6 12 3 9 quarter months months months months (In thousands) $ # *On 73 or more days, i n c l u d i n g Sundays and Holidays.
@FedFRASER