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. • ~~1··._ ,.' FEDERAL RESERVE BOARD WASHINGTON X-3553 Novamber SUBJECT: 3, 1922. Government Securiti~s Owned by Reporting Member Janks. · Dear Sir: The Treasury Dapartment is desirous of obtaining each week, if ppssible, from reporting member banks information as to the amounts of the differl3nt. kinds of government securities held and owned by them. In a letter to me dated October 9th, Mr. Gilbert requested that the Federal Reserve :Banks and the member l)anks in their reports to the Board itemize their holdings of such securities as follows: (1) 13onds to secure circulation; (2) Liberty bonds; (3) Treasury bonds; (4•) Victory notes; (5) Treasury notes and (6) Treasury certificates of indebtedn'dss. In~· reply to his letter, I stated in effect that the Board could arrange to furnish him once a. month with the detailed information he ~sires with respect to the Federal Reserve Danks' holdings of government securitias, but was reluctant to call upon the member banks for too detailed a weekly report of their assets and liabilities. He has replied stating that the Treasury particularly wants information with respect to the governroent security holdings of the reporting member banks, so as to be able to get some .line upon· the distribution of the new Treasury bonds among inv~stors on a current basis~ To get the information desired would require the substitution of three new items for the item "United States :to11ds" now appearing on the form (St. 5l).furnishad to reporting mamber banks .. The :Board would like to have you advise it whelil:lor • 1n your opinion it would seem advisable to call upon your reporting member banks to furnish the detailed information requested by the Treasury Department. Very- truly yours, Vice G6verp.or. '•
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