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FEDERAL RESERVE BOARD WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE TO THE FEDERAL RESERVE BOARD X-S531 March 10, 1930. SUBJECT: C a l c u l a t i o n of Beserves as a t the Close of Business the Previous Day. Dear S i r ; The Board h a s r e c e i v e d r e p l i e s from a l l F e d e r a l r e s e r v e banks t o i t s l e t t e r of J a n u a r y 31, (X-5489), a s k i n g f o r e x p r e s s i o n s a s to what "benefits i t i s e x p e c t e d member banks would d e r i v e from a p r o p o s e d amendment to the B o a r d ' s R e g u l a t i o n s which would p e r m i t t h e c a l c u l a t i o n of r e s e r v e s a s a t t h e c l o s e of b u s i n e s s t h e p r e v i o u s day. t h e s e r e p l i e s were r e f e r r e d to the r e c e n t l y a p p o i n t e d committee on r e s e r v e s which f e e l s t h a t t h i s q u e s t i o n should be c o n s i d e r e d i n c o n n e c t i o n w i t h a number of o t h e r q u e s t i o n s which a r e bound t o a r i s e i n the c o u r s e of i t s study, and upon i t s recommendation, a t the m e e t i n g of the Board on March 6, i t was v o t e d t h a t t h e p r o p o s a l be l e f t w i t h o u t d e t e r m i n a t i o n u n t i l the committee h a s c o n s i d e r e d the whole r e s e r v e problem. Very t r u l y y o u r s , R. A. Young, Governor. TO GOVERNORS OF AIL F . R. BAMS.
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