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FEDERAL RESERVE BOARD WASHINGTON address official correspondence t o the federal reserve board March 17, 1931. B-277. SUBJECT: Monthly report of discount and open market operations, Form B-3* Dear S i r : There i s "being forwarded under separate cover a supply of form B-3 (superseding Form A) , "Discount and open market operations during the month of " for use of your hank beginning with the month of March. I t will "be noted that the form c a l l s for the t t o t a l discount and open market operations exclusive of "bills ^payable in foreign currencies purchased abroad, and of United States s e c u r i t i e s bought for or from the System's Special Investment Account. Very truly yours, B. L. Smead, Chief, Division of Bank Operations. TO ALL GOVERNORS EXCEPT NEW YORK*