Full text of Mimeograph Letters and Statements of the Board : Letter From Mr. Emerson, Asst. to Governor, re Report of Loans Granted Member Banks in Excess of Basic Line, Number St. 1949, Volume 14, Page 717

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FEDERAL RESERVE BOARD
WASHINGTON

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Aprl )v, rcr"l

•

St.l949.
SUBJECT:

Heport of Loans Granted liie:J!1ber
Banks in Excess of Basic Line.

Dear Sir:

At th..; recent conference of Governors of the Federal
Reserve Banks it was recommended that reports of loans bran ted
melliber tla.'1ks in excess of the basic line be rr,ade twice a month
hereafter, instead of every 10 days as is done at

~::,resent.

T:ne

Board has approved this recommendation, 3Yld the instructions con.
tained in its letter St. 1133 dctted May 5, 1920 are
ified accordinc;ly.
be

suomi tted for

:r~ereby

mod-

In future, therefore, only two reports shoul:i

e~l.<;h

montL, the first to cover t.r.c: period. be-

g,inning on the first and. endin.c: on the fifte.::nt1l day of tr.e
month, a"1d. the secon:i to cover the period besinning on the sixteen th and. ending on the l.:1s t day of tte month.
Very truly yours,

R. G. Emerson,
Assistant to Governor.

(Letter sent to each Governor and F. R. Agent)




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