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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 reviĀ­
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


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102