Full text of Mimeograph Letters and Statements of the Board : Letter From E. L. Smead, Chief, Division of Bank Operations, re Checking of Weekly Report of Debits to Individual Accounts for Errors, Number B-1129, Volume 44, Page 738

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FEDERAL RESERVE BOARD
WASHINGTON
address official correspondence t o
the federal reserve board

January 13, 1936.
B-1129.

Dear Sir:
From time to time errors are discovered in the weekly reports
of debits to individual accounts, reflecting principally either the
inclusion of debits to deposit accounts of other banks or the omission
of debits to the accounts of the United States Government, State®, counties, municipalities, etc.

Since September 193^ the weekly member bank

condition reports, Form B-21, have made it possible to check the reports
of debits to individual accounts, insofar as reporting member banks in
101 cities are concerned, as the weekly condition reports give a classification of debits to deposit accounts.
It will be appreciated if you will kindly have a check made between the figures reported in the weekly condition statements and those
reported through the clearing houses #r ether agencies for the week
ended January 8, 1936, unless such a check has already been made for
some other recent week.

It is suggested that this be done by furnishing

to each clearing-house association or other agency from which weekly
reports ef debits to individual accounts are received, a list of the
member banks in the city from which weekly condition reports, Form B-21,
are received by your bank, with the request that the reporting agency




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show for each such bank the total amount of debits to individual accounts
reported by it for the week ended January 8, 1936.

Upon receipt at your

bank these figures should be checked against the aggregate of code items
PILL, PUKE and P U T on Form 3-21 (revised December 1935) and any differences reconciled with the reporting member bank.

If the figures of debits

to individual accounts furnished by a reporting member bank to the clearing-house association or other reporting agency have been incorrect, such
agency should be requested to have the bank report on a correct basis in
the future.
Please advise the Board of any outstanding differences that are
found in checking, the reports.
Very truly yours,

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E. L. Smead, Chief,
Division of Bank Operations,

TO ALL FEDERAL RESERVE AGENTS