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278 BOARD OF GOVERNORS X-9895 OF" THE FEDERAL RESERVE SYSTEM WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE May 24, 1937. TO THE SOARD Dear Sir: The Board's letter. of August 18, 1956 (X-9673) stated, among other things, that X-letters which do not contain rulings or interpretations would not be affected by the new procedure outlined therein but would continue in each case to bear only an X-number as in the past. It also stated that thereafter X-numbers would be applied only to communications sent to all Federal reserve banks so that the numbers on such communications would run consecutively in all cases. Hecently, in reviewing material to which X-numbers have been assigned, it was noted that many routine items were being designated by the "X" symbol and investigation diBclosed that during the past two years approximately forty-five per cent of the items assigned X-numbers were of a routine character. It seems desire.ble, therefore, in the future, to segregate all circular communications sent to all Federal reserve banks into two classifications, one containing rulings, interpretations and instructions and the other including all routj_ne items. To this end it has been suggested that the "X" series of numbers be discontinued as of the close of May 51, 1957 and be superseded by two new series of numbers which shall be known as the "S" and "R" series respectively. The Board has approved this proposal, and beginning June 1, 1937 (1) S-numbers will be af;signed to all mimeographed communications sent to all Federal reserve bru1ks which contain rulings and interpretations of the statutes and the Board's regulations, and instructionE relating to policy or administrative matters; and (2) R-numbers will be assigned to oll routine mimeographed matters, statements, press releases, !3tc. sent to all Federal reserve banks. As a general rule it will be the intention to limit items to which S-numbers will be assigned to those which may be literally classified as rulings, interpretations or instructions, but it will be necesEary to exercise some discretion as to whether "instructions" are of a sufficiently general character or of such a contl.nuing nature that they should be preserved by the Federal reserve banks and possibly indexed and digested for their future guidance. In other words, letters containing instructions which are limited to short 279 -2- X-9895 periods of time or to compliance with a single request for information or reports would not represent the tyre of instructions which it is proposed would fall within the "8" classification and, therefore, such items will be given R-numbers. In addition, items such as those listed below which have heretofore been assigned X-numbers will, beginning June 1, 1957, be clasdfied as routine matters and assigned R-numbers. 1. All statements for the prt~ss (including National Summary of Business Conditions) 2. Letters designating code words to cover new iseues of Treasury bills 5. Letters listing holidays to be observed by the reserve banks and branches during the ensuing month 4. Letters to all Chairmen levying assessments on the reserve banks for expenses of Board 5. Letters reporting on expenses of main lines of leased wire system for preceding month 6. Letters transmitting st~tement of Bur~:au of Engraving and Printing covering cost of preparing Federal reserve notes for precc:Jding month 7. Letters advising of changes in interO.istrict time .::chedule 8. Letters tPansmitting copies of auditor's certificate in connecti::m with periodical audits of Board's accounts 9. Letters transmitting summary of monthly reports received roga.cding bank and public r~::lations activities of the reserve banks 10. Any other mimeographed communicationfi sent to all Federal reserve be.nks which may be regccrded us purely rout~ne, such as, letters requesting specific information, letters of trD.nsmi ttal, etc. -; Certain other items sent to the Federal reserve banks in the past bearing designations prefixed by "B", "Exam" or other division symbols will in the future be given -s- or R-numbers, although S- or R-letters may occusionnlly transmit inclosures bearing symbols used by the various divisions of tHe Board. These symbols are as follows: "Z" - Office of the Secretary; "L" ·• Office of General Counsel; "B" Division of Bank Operations; 11 Exam 11 - Division of Examinations; "R&S" ,_ 280 -3- X-9895 Division of Research and Statistics; ond "SL" - Division of' Security Loans. However, the "S" and 11 R. 11 ser.ies will be confined strictly to mimeographed material sent to all Federal reserve banks and the numbers in er,ch classification will run consecutively, therefore each bank should have no difficulty in checking the completeness of its files of such items. The Board has also approved the discontinuance, beginning June 1, 1937, of the series of numbers heretofore assigned to so-co.lled "trans wires", tmd th~.)reafter routine t,;:;J.egrams sent simultaneously to all Federal reserve banks will no"G.bear any distinguishing symbol or number. However, all telegrams containing rulingB, in terprE)ta tions or instructions sent to all Federal reserve banks will be assigned S-numbers at the time they are dispatchGd. The transmission of the S-number wi.ll have no significance other than to put the Federr~l reserve bank on notice that the particular telegram haB been dispatched to all of the other Federal reserve b<mks and to indicate that in due courne a mimeographGd copy of the wire Ydll be forthcoming for the completion of its file of 11 S" communicn.tions. Under the present procedure it has been customary to send out mimeographed cop:ies of telegrams bearing an appropriate X-numbcJr in all cases where rulings or interpretations are involved. Th<:) proposed method of handling S-telDgn,ms is in reality a continuation of the e:dsting procedure which is being modified onl;T to the extent of EJliminr.A.ting trans numbers and substituting tho proper S-number at the time the wire is dispatch~::ld, rather than indicating it only on thG mimeographed copy of the wire. Since no eood purpose would be served by distributing to the Federal reserve banks mimsographed copies of routine telegrams, the rc::Jvised procedure contemplates, a~ indicated above, thPt R-numbers will not be asnigned to routine telegrams. Vory truly yours, ~t:;;v h1 o-1/0 Chester Morrill, Secretary. ( TO PRESIDENTS OF ALL FEDERAL RESERVE BANKS
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