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FED ER AL R E SE R V E BANK OF N EW YORK r Circular N o. 3244*1 L CONSUM ER CREDIT R E G U L A T IO N W O F T H E B O A R D OF G O V E R N O R S OF T H E FE D E R A L RESERVE SYSTEM To all Registrants under Regulation W in the Second Federal Reserve District: The Board of Governors of the Federal Reserve System has requested us to advise you that a joint resolution of Congress authorizing the continuation of consumer credit regulation until November 1, 1947, has become law and that the President has indicated that Regulation W should be continued until that time. The terms set forth in the revi sion of that regulation dated December 1, 1946 (a copy of which was forwarded to you in advance o f that date), will accordingly be in full force and effect through November 1, 1947. I f you have any questions concerning the regulation, they should be addressed to us as usual. Additional copies of this circular, and of the regulation, will be furnished upon request. A llan S proul, President. A ugust 11, 1947 J