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FEDERAL RESERVE BOARD WASHINGTON address official correspondence to the federal reserve board X-U220 December 19, 1924 SUBJECT: Discontinuance of Member Bank Basic Line Reports. Dear S i r : At the present time, the Federal Reserve Board i s receiving semi-monthly reports from the Federal reserve banks showing borrowings of member banks whose average d a i l y borrowings equal three times t h e i r basic l i n e s , and in addition, i s receiving monthly reports showing average borrowings of those banks which were borrowing continuously in excess of t h e i r c a p i t a l and surplus during the report month. The Board believes the basic l i n e r e p o r t s to be the l e s s valuable of the two reports above r e f e r r e d to, azid the Federal reserve banks are requested to discontinue t h i s report to the Board as of January 1, 1925* Very t r u l y yours, Walter L. Eddy, Secretary. TO THE GOVERNORS OF ALL FEDERAL RESERVE BANKS Copies to Federal Reserve Agents
@FedFRASER