Full text of Mimeograph Letters and Statements of the Board : Letter From Leo Paulger, Chief, Division of Examinations, re Chart of Bond Rating by Standard Statistics Company Sent to Federal Reserve Banks, Number R-268, Volume 48, Page 337

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337
BOARD OF GOVERNORS
of the

FEDERAL RESERVE SYSTEM
washington
division

R-268
of

examinations

June 24, 1938.

Dear Sir:
In connection with a study recently made as to
the ratings on January 1, 1938, of bonds rated Bl/ or
higher on January 1, 1928, Standard Statistics Company,
Inc., has prepared a chart showing the record of its
bond quality ratings for the 10-year bond cycle. It
has occurred to us that this chart, together with the
brief statement on the reverse side regarding bond quality ratings, might be of interest to you and your examiners.
Accordingly, there are inclosed several copies of the chart
for your use.
You will understand, of course, that it is not
the purpose of this letter to recommend any particular
rating service and that the material is being sent to
you merely as a matter of information in view of the
general interest in bond quality ratings.
Very truly yours,

LEO H.
Chief, Division of Examinations.

Inclosures.

TO VICE PRESIDENTS IN CHARGE OF EXAMINATIONS AT ALL FEDERAL
RESERVE BANKS.