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. FEDERAL RESERVE BOARD . WASHINGTON August 18, 1923. X-3Sl4. SUBJECT: Report of Insurance Committee to • Last Governors' Confe~ence • Dea.r. Sir: 'l'he la.s t Governors' Conference , held Ma.rch 26-29, 1923 , considered. a. report· made to the Conference by a. special 11 Insurance Committee'' on the subject· of self-insurance for Federal Reserve Banks. '!his report embodied a. proposed pla.n for self-insurance of the so-called fidelity .or bankers I blanket bond risks in excess of an amount of $500,000, for which sum it wa.s recommended that the banks continue to purchase insurance, for tbe t~me being a.t lea.st. · This repo:-t wa.s approved by the· Govemors' Conference and refe-rred to the Federal Reserve Boa.rd.. Since then, the Board, through its Conmittee on Ecoromy and Efficiency, ha.s been considering the general. subject: of insurance, and the Cotmdttee ha.s obta.ined da.ta. from all banks concerning. insurance •ca.rried. .. In this. connection, there is enclosed herewith a. copy of the repil:rt referred. to a.bove, which it is requested be· submitted. to the Boa.rd of· Directors of your ·bank for their· considera.tion .and such recommenda.tion or a.ction .a.s they may think advisa:ble. It is desired, if possible, tha.t a. definite decision .regarding the plan proposed be rea.ched by all banks, and transmitted. to the Board, before· the next Govemors 1 Conference,. the da.te of which ha.s been set for November· 12th, next-.. By order of the Federal Beserv.e Board. Wm•. W•. Hoxt·on, General~ Secretary• '!CD GHA1.:11MEN OF .AtL BANKS •,
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