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554 FEDERAL RESERVE BOARD WASHINGTON address official correspondence t o September 1], 1932. t h e federal reserve board B-839. SUBJECT: Reports of Member Banks Borrowing from federal Reserve Banks. Dear Sir; Since April, 1929» each Federal reserve bank has been sending the Board quarterly reports on Form St. 6170 covering member banks borrowing 80 per cent or more of the time during the quarter. The Board feels that a report which would require considerably less time to compile would answer its purposes satisfactorily at the present time and, accordingly, requests that these reports be submitted semi-annually hereafter, in accordance with the attached form, covering all member banks which were borrowing 80 per cent or more of the time during the twelve-month periods ending June J>0 and December 31, respectively. You will note that the form calls for the average daily bor- rowings of each such member bank during the last month of the period covered by the report; the number of days on which each bank was in debt to the Federal reserve bank during the last month and year; and the amount of the bank's capital and surplus. Very truly yours, Chester Morrill, Secretary. TO GOVERNORS OF ALL F. R. BAFKS*. MEMBER BANKS BORROWING FROM THE FEDERAL RESERVE B A M OF FOUR-FIFTHS OF THE TIME*DURING THE YEAR EKDIFG Location Fame of bank Capital and surplus at end of report period Average daily borrowings during last month of report period Uumber of days bank was in debt to F. R. Bank during Year covered Last month by of renort report period Ox 01 Oi •On 292 or more days, including Sundays and holidays. (B-l4)
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