The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BOARD WASHINGTON a d d r e s s o f f i c i a l c o r r e s p o n d e n c e TO the federal reserve board X-7716 December 14, 1933, Dear Sir: In the Board's l e t t e r X-7499 of July 15, 1933, on the subject "Interpretations of Banking Act of 1933" reference was made to the arrangement under which l e t t e r s and telegrams containing interpretations of the Banking Act of 1933 are mimeographed and sent to a l l Federal reserve agents, each such mimeographed communication being given an X number, and the statement being made that "* * * unless otherwise indicated, the communications received from the Board i n t h i s form are not for distribution outside of the Federal reserve bank". It has been assumed that i t was generally understood that the same rule applied to other X l e t t e r s , but i t has come to the a t t e n t i o n of the Board that X l e t t e r s have been made a v a i l a b l e to persons outside the Federal reserve banks without prior permission from the Board, For example, in a recent hearing before the Board a representative of a bank applying for membership referred to an X l e t t e r by number, date, and name of the Federal reserve agent to whom the l e t t e r i n i t s original form had been addressed, and quoted from i t . In addition, several service organizations have requested that they be placed on the Board's mailing l i s t s for copies of X X-7716 4 2 *• letters. Such requests, of course, have not "been granted. In the circumstances, the Board w i l l appreciate i t i f you w i l l see that appropriate instructions are issued to a l l members of your s t a f f and a l l o f f i c e r s and employees of the Federal reserve bank that, while the information contained in X l e t t e r s may he u t i l i z e d to the extent that may he appropriate according to circumstances i n answering inquiries and otherwise i n performing their duties, such communications, unless otherwise indicated therein or subsequently authorized "by the Board, are not to he used for d i s t r i b u t i o n or made available to persons outside of the Federal reserve bank. Very truly yours, Chester Morrill, Secretary. TO ALL F. R. AGEHTS.
@FedFRASER