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X-8072 FEDERAL RESERVE BOARD STATEMENT FOR THE PRESS For immediate r e l e a s e October 13, 1934, CALCULATION OF NET DEBIT BALANCE IN ARBITRAGE ACCOUNTS RULING NO. 23 INTERPRETING REGULATION T. I n r e s p o n s e t o an i n q u i r y t h e F e d e r a l Reserve Board has r u l e d t h a t , i n c a l c u l a t i n g t h e n e t d e b i t balance of an a r b i t r a g e account w i t h i n t h e meaning of S e c t i o n 3(d) of R e g u l a t i o n T, b o t h t h e long commitments and t h e s h o r t commitments i n s e c u r i t i e s should be t a k e n i n t o c o n s i d e r a t i o n .
@FedFRASER