The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
X-4739 federal reserve board WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE TO THE FEDERAL RESERVE BOARD SUBJECT: DECEMFCAT 1 9 2 6 * Review of S i t u a t i o n of Member Banks in Outlying Sections Granted Reserve Reductions. Dear S i r : R e f e r r i n g to the Board's l e t t e r of October 12, 1926, X-4689, and the c o n s i d e r a t i o n of the s u b j e c t thereof a t t h e r e c e n t Conference of Federal Reserve Agents, the Board has voted to r e q u e s t each Federal Reserve Agent to review a t the end of the year t h e s i t u a t i o n w i t h r e s p e c t to member banks l o c a t e d in o u t l y i n g s e c t i o n s of r e s e r v e and c e n t r a l r e s e r v e c i t i e s , which have been granted permission to c a r r y reduced r e s e r v e s on demand d e p o s i t s under the p r o v i s i o n s of Section 19 of the Federal Reserve Act. The Board would l i k e to have the f i r s t review of the s i t u a t i o n made as of December 31, 1926, and a r e p o r t thereon from each Federal Reserve Agent as soon a f t e r the end of t h e year as p r a c t i c a b l e . I t i s expected t h a t the r e p o r t of each Federal Reserve Agent w i l l deal i n d i v i d u a l l y with each bank which has been granted the reduced r e s e r v e p r i v i l e g e , and t h a t in each case, in a d d i t i o n to such d a t a and comment as the Agent may deem i t d e s i r a b l e to submit, t h e r e w i l l be s e t f o r t h (1) Total d e p o s i t s as of the d a t e of approval of the b a n k ' s a p p l i c a t i o n . (2) Total d e p o s i t s as of the d a t e of t h e survey. (3) Amount due to banks as of the d a t e of approval of the bank 1 s a p p l i c a t i o n . (4) Amount due to banks a s of the date of the survey. (5) Ratio of bank d e p o s i t s to t o t a l d e p o s i t s . Very t r u l y yours, Walter L. Eddy, Secretary, TO ALL F. R. AGENTS.
@FedFRASER