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844 X-9020 > FEDERAL RESERVE BOARD STATEMENT FOR THE PRESS For immediate r e l e a s e . November 14, 1934. WITHDRAWAL OF INTEREST AID HASH DIVIDENDS FROM RESTRICTED ACCOUNTS. Ruling Ho. 38 interpreting Regulation T. In response to several i n q u i r i e s , the Federal Reserve Board rules that i n t e r e s t and cash dividends on s e c u r i t i e s i n any r e s t r i c t e d account may, at the option of the creditor, he paid to the customer i f they are paid on the same day on which, i n accordance with the c r e d i t o r ' s usual p r a c t i c e , they are credited to the customer's account. This ruling applies t o i n t e r e s t on coupon bonds as well as to i n t e r e s t on registered "bonds and cash dividends on stocks.
@FedFRASER