Full text of Mimeograph Letters and Statements of the Board : Statement for the Press re Amendment of Regulation L, Number R-515, Volume 51, Page 51

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51
R-515

BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
STATEMENT FOR THE PRESS

For immediate release

August 1, 1959

The Board of Governors of the Federal Reserve
System has amended subsections 3(a) and 3(e) of its Regulation L, relating to interlocking bank directorates
under the Clayton Act, effective immediately, so as to
extend until February 1, 1940, the time during which certain persons who have been serving member banks may continue to serve a member bank and not more than one other
bank.