Full text of Mimeograph Letters and Statements of the Board : Letter From Mr. Emerson, Asst. to Governor, re Reports of Paper Pledged with Federal Reserve Agents, Number St. 1710, Volume 14, Page 696

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FEDERAL RESERVE BOARD
WASHINGTON

January 6, 1921.
St .1710.
SUBJECT:

Reports of Paper pledged
with Federal Reserve Agents.

Dear Sir:

With reference to the Board's letter St. 1653,
dated December 16, 1920, there is quoted below a telegram sent.· to you on the above subject under date of

January 3:
TRANS 54'- Referring Board's letter St.l653,
dated December 16~ when paper rediscounted . ·.
with or sold to other Federal Reserve Bariks
is delivered by borrowing bank to ~ts Federal
Reserve Agent to be held for account of Federal Reserve Agent of lending bank as security
against Federal Reserve notes, schedules BD-4
or BD-7 covering such rediscounts or sales
should bear statement signed by the Federal
Reserve Agent of borrowing bank, or his assistant, readin~ substantially as follows:
"Receipt is acknowledged of
notes and
bills aggregating $
as reported
above to le held for the account of the Federal
Reserve A6ent at
as collateral
security against outstanding Federal Reserve
If
notes of Federal Reserve funk: of

------

Very truly yours,

R. G. Enerson,
Assistant to Governor.

(Letter sent to each F. R. Agent)