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507 FEDERAL RESERVE BOARD WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE TO THE FEDERAL RESERVE BOARD July 18, 1934 B-1000 SUBJECT: R e v i s i o n of Weekly Reporting Member Bank Report Form. Dear S i r : For some time i t has been evident that the s e l e c t e d items i n cluded i n the weekly report of condition of member banks i n l e a d i n g c i t i e s are not as informative as they should be, p r i n c i p a l l y b e cause loans are not c l a s s i f i e d as between open-market loans and customer loans and because the deposit f i g u r e s r e l a t e not t o a c t u a l d e p o s i t s but t o c e r t a i n s p e c i a l c a t e g o r i e s n e c e s s i t a t e d by the present method of computing reserve requirements. In order t o ob- t a i n data which w i l l enable the System t o b e t t e r appraise the e x t e n t and character of current changes i n the condition of the weekly r e p o r t i n g member banks, the form ( S t . 51a) used by them i n submitting t h e i r reports has been r e v i s e d i n accordance with t h e sample i n closed. I t i s suggested that t h i s form be printed l o c a l l y , i n accordance with the procedure h e r e t o f o r e followed, and t h a t member banks be requested to submit reports i n accordance therewith b e ginning Wednesday, Septeiaber 5« 193%* I t w i l l be noted that the r e v i s e d form provides f o r a balanced statement and a l s o f o r c e r t a i n information regarding d e b i t s t o 508 — 2 -• d e p o s i t accounts. The debit f i g u r e s , a l s o the data on d e p o s i t s , w i l l be used i n connection with tho study of the proposed change i n member bank reserve requirements r e f e r r e d t o i n the Board's l e t t e r of t h i s d a t e . I t i s not intended f o r the present t o change the form i n which t h e f i g u r e s are p u b l i s h e d . Very t r u l y yours ~0>gesQjZv Chester M o r r i l l Secretary. Inclosures TO ALL FEDERAL RESERVE AGENTS* )rT\cnAi
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