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X-8065 LER1B: A h BOARD STATEMENT FOR THE PRESS For immediate r e l e a s e October 12, 1934. MARGIN REQUIREMENTS ™ TIME ALLOWED FOR OBTAINING MARGIN. RULING NO. 19 INTERPRETING REGULATION T. The F e d e r a l Reserve Board has been asked whether under s e c t i o n 4 ( e ) of Regulation T, i n t h e case of a purchase of s e c u r i t i e s on a Monday, t h e t h r e e - d a y p e r i o d allowed f o r obt a i n i n g margin e x p i r e s a t midnight Wednesday or a t midnight Thursday, i f the days s p e c i f i e d and a l l t h e i n t e r v e n i n g days are f u l l b u s i n e s s d a y s . In r e p l y t h e Board advised t h a t t h e t h r e e - d a y p e r i o d s p e c i f i e d means t h r e e f u l l b u s i n e s s days f o l l o w i n g t h e date of the t r a n s a c t i o n and t h a t , i n the case i n d i c a t e d , t h e t h r e e - d a y period allowed by s e c t i o n 4 ( e ) would not e x p i r e u n t i l midnight on Thursday.
@FedFRASER