Full text of Mimeograph Letters and Statements of the Board : Memorandum for the Board, re State Bank Reports, by J. A. Broderick., Number X-485, Volume 6, Page 2925

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.r E S E R V
WASHINGTON.

B O A R D

Memorandum for the Feaerul Reserve Board.
In re - State Bank Reports.
Section 9 of the Federal Reserve Act provides:
(State banks) "Shall be required to make reports of con­
dition and of the payment of dividends to the Federal Reserve Bank of
which they become a member. Not less tnan three of such reports shall
be made annually on cu.ll of the Federal Reserve Bank on dates to be
fixed by the Federal Reserve Board."
1.

Reports of the Payment of Dividends.
It is recommended that tne report used by the office of
the Comptroller of tne Currency be adopted for use by State Member Banks
in reporting to the Federal Reserve Banks.

2.

Reports of Condition.
The law provides that not less than three of sucn re­
ports be made annually to tne Federal Reserve Bank on dates to be fixed
by the Federal Reserve Board.
It is recommended that during tne year of 1918 five
calls be made for reports of condition on dates corresponding to those
fixed by the Comptroller of the Currency for National Banks.
These reports to be made to tne Federal Reserve Bunk
in duplicate, one copy to be retained by tne Federal Reserve Bank ana the
other to be sent to tne Federal Reserve Board. Compilation of statistics
will be made by tne statistical division of tne Federal Reserve Board.
3.

Form.

Form of report attached to this memorandum is submitted
for tne consideration and approval of the Board*
.
The foim of the report is sufficiently uniform with that
used by the Office of the Comptroller of tne Currency as to permit of the
consolidation of tne more important items for all members of tne Federal
Reserve system*
4*

Publisher*s Certificate.
Form of the published Certificate submitted for the con­
sideration ana approval.
'
It is recommended that when a call is made simultaneously
by the State Banking Department and Federal Reserve Bank, that the State
Member Banks be permitted to forward a copy of the Publisher's Certificate
furnished the State Banking Department in lieu of the one suggested by
the Board.
Respectfully,
.
November j>1 I 9I 7 .




(Signed) J. A. Broderick