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45 R-962 BOARD OF GOVERNORS o:B' THE FEDERAL RB:f.EitllE CifS'l'ElJ. STA'l'FJ,.i.ENT I!'OR TllE PriESS February 21, 1942 For illmLediate release. Under Regulation D of the Board of Governors of the Federal Reser1e System, defi cioncies in reser•re balances of member baJ:l.kS in c.i ties where Federal Reserve Banks m· branches thereof are located an.d in a few otLer reserve cities are at present co:ilputed on the basis of average daily net deposit balances covering semiw'iekly periods. Sucll co1n.puta- tions by rr..ember bar.J:es in o t;her rese!"re cities are ma(le on a weekly besis. The Board has <ii.I•Eind.ed Regtllation D, effective with the reserve ·coraputat:~on period beginning February 2$, 1942, so as to provide that member b£;rJcs in all central reoE;rve end reserve cities shall make such computations.on a weekly basis. This change places banks in all these cities, includ1ng those in vtnich Fed(~ral Reserve :!:2anks or branches are located, on the same ba.s1.s in this respect and has been made fer the convenience of' lher:ibor banks in these cities in adjusting their reserve po8itions. Country banks, i.e., those located. outside or reserve cities, will continue as hE:r8tOl~Ore in rcoe:rve 'Jalances on u ser:liraonthly basis. o~ central reserve to compute deficiencies
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