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FED ERAL RE SE R V E BANK
OF NEW YORK
rCircular No. 3 7 0 2 ~ 1
L
May 10, 1951
J

REGULATION X

REAL ESTATE CREDIT
Filing Registration Statements
To all Persons Engaged in the Business o f Extending Real Estate Credit
in the Second Federal Reserve D istrict:

Following is the text o f a statement issued by the Board o f Governors o f the Federal
Reserve System, which was released for publication May 11, 1951:

The Board of Governors of the Federal Reserve System announced today a registration of persons
subject t the Board’ Regulation X covering real e t t c e i . The text of the Board’ announcement
o
s
sae rdt
s
i as follows:
s
PUBLIC A N N O U N C E M E N T OF REGISTRATION UND ER REGULATION X
The Board of Governors of the Federal Reserve System, in accordance with the provisions o
f
sect on 3(b) of Regulation X, hereby announces that every person engaged in the business on May 3 ,
i
1
1951, of extending r al e t t credit with respect t r s d nc s r s de t al property, multi-unit
e
sae
o eie e, ei ni
r s de t l property, or nonresidential property, including any person who a t as an agent for a lender
e i n ia
cs
in arranging for such c e i , must r g s e on or before June 3 , 1951, with the nearest Federal Reserve
rdt
eitr
0
Bank or Branch on Form FR 269, which may be obtained a any such Bank or Branch. Every person
t
who hereafter becomes engaged in the business described above must r g s r within 30 days after the
e i te
date on which he becomes engaged in the b i es .
us n s
For the purposes of Regulation X, a person i deemed t be engaged in such business i, in hi own
s
o
f
s
right or as agent or f d c a , he either ( ) extends or has extended such r a e t t credit more than
i u i ry
1
el sae
three d f e e t times during the current calendar year or during the preceding calendar year, or ( )
ifrn
2
extends or has extended such r e t t credit i an amount or amounts aggregating more than $50,000
eal s a e
n
during the current calendar year or during the preceding calendar year.
The Registration Statement requires only the name and address of the Registrant and certain basic
figu es on mortgage loans held by the Registrant and serviced for o h r . This simplified form was
r
tes
developed after extensive consultation with industry representatives, including those o major trade
f
ascain.
soitos
In connection with the announcement of the r g s r t o , the following Amendment No. 5 t
eitain
o
Regulation X, e f c i e May 1 , 1951, was issued:
fetv
1
REAL ESTATE CREDIT
A M E N D M E N T NO. 5 TO REGULATION X
ISSUED B Y TH E BOARD OF GOVERNORS O F THE FED ER AL RESERVE SYSTEM W IT H THE
CONCURRENCE OF TH E HOUSING AND HOME FINANCE ADM IN ISTRATO R

Regulation X i hereby amended i the following r s e t , e f c i e May 1 , 1951:
s
n
epcs fetv
1
In subsection (b) of sect o 3 add reference 11a after the word “announcement” in the f f h l n ,
in ,
i t ie
and add t i footnote at the bottom of the page:
hs
l a Pursuant t public announcement made by the Board on May 1 , 1951, a l persons so
l
o
1
l
engaged in the business described above on May 3 , 1951, must r g s r with the nearest Federal
1
e i te




Reserve Bank or Branch n ot later than June 30, 1951, on Form F R 269, which may be obtained
at any such Bank or Branch. A ll persons who thereafter become so engaged in business must
register w ithin 30 days.

P ersons required to register whose main offices are located in this district should file their
R egistration Statem ents w ith the head office o f this Bank, F ederal R eserve P ost Office Station,
New Y o rk 45, N. Y . A person o r business w hose main office is located in another district should
register with the F ederal R eserve Bank o r B ranch in that district. A m ap show ing the bound­
aries o f the F ederal R eserve districts appears at the end o f R egulation X .
In order that y ou m ay com ply w ith the registra tion requirem ents o f the regulation, there
are enclosed tw o copies o f the R egistration Statement, one cop y o f which should be com pleted
and executed and returned to this Bank w ithin the prescribed period, the other being retained
fo r you r files. The statement should be com pleted in accordance w ith the instructions accom ­
panying the statement.
W e also enclose a cop y o f Am endm ent No. 5 to Regulation X , printed in a fo rm to fa cili­
tate you r keeping it w ith you r cop y o f the regulation. On the reverse side o f the amendment,
there is also printed the text o f the B o a r d ’s p u blic announcement requiring registration under
R egulation X .
W e shall be pleased to answer any questions you m ay have in connection with register­
in g o r with respect to the other requirem ents o f R egulation X . A dditional copies o f this cir­
cular and o f the enclosures w ill be furnished u p on request.




A

llan

S

proul,

President.

REAL ESTATE CREDIT
AM E N D M E N T NO. 5 TO R E G U L A T IO N X

ISSUED BY T H E BOARD OF GOVERNORS OF T H E FEDERAL RESERVE SYSTEM
W IT H TH E CONCURRENCE OF T H E HOUSING AND HOME
F IN A N C E ADM INISTRATOR

Regulation X is hereby amended in the follow ing respects, effective
M ay 11, 1951:
In subsection ( b ) o f section 3, add reference 11a after the word
“ announcem ent” in the fifth line, and add this footnote at the bottom
o f the page:
lla Pursuant to public announcement made by the Board on
May 11, 1951, all persons so engaged in the business described
above on May 31, 1951, must register with the nearest Federal
Reserve Bank or Branch not later than June 30, 1951, on Form
F R 269, which may be obtained at any such Bank or Branch. All
persons who thereafter become so engaged in business must register
within 30 days.




(over)

P R IN T E D IN N E W Y O R K

PU BLIC A N N O U N CEM EN T OF R E G IS T R A T IO N
U N D ER R E G U L A T IO N X

The B oard o f Governors o f the Federal Reserve System, in accord­
ance with the provisions o f section 3(& ) o f Regulation X , hereby
announces that every person engaged in the business on May 31, 1951,
o f extending real estate credit with respect to residences, residential
property, multi-unit residential property, or nonresidential property,
including any person who acts as an agent fo r a lender in arranging
fo r such credit, must register on or before June 30, 1951, with the
nearest Federal Reserve Bank or Branch on Form F R 269, which may
be obtained at any such Bank or Branch. E very person who hereafter
becomes engaged in the business described above must register within
30 days after the date on which he becomes engaged in the business.
F o r the purposes o f Regulation X , a person is deemed to be engaged
in such business if, in his own right or as agent or fiduciary, he either
( 1 ) extends or has extended such real estate credit more than three
different times during the current calendar year or during the
preceding calendar year, or ( 2 ) extends or has extended such real
estate credit in an amount or amounts aggregating more than $50,000
during the current calendar year or during the preceding calendar
year.




( over)

F o r m F R 269
F orm A p p roved
B u d g e t B u r e a u N o. 5 5 -R -1 8 4

REAL ESTATE CREDIT REGULATION
REGISTRATION STATEMENT UNDER REGULATION X
BOARD OF GOVERNORS OF TH E FEDERAL RESERVE SYSTEM
INSTRUCTIONS
A ll th o s e s u b je c t to R e g u la tio n X , th e R e a l E s ta te C re d it R e g u la tio n o f th e B o a r d o f G o v e rn o rs o f th e F e d e r a l R e se rv e
S y ste m , a re to r e g is t e r in a cco rd a n ce w ith S e ctio n 3 ( b ) o f th e re g u la tio n .
How and where to register— T h o s e s u b je c t t o R e g u la tio n X s h ou ld r e g is te r b y fillin g o u t th is fo r m a n d r e t u r n in g it to th e
n e a r e s t F e d e r a l R e s e rv e B a n k o r F e d e ra l R e s e rv e b ra n ch .
W h en to register— T h ose s u b je c t to R e g u la tio n X a s o f M a y 31, 1951, sh ou ld r e tu rn th is fo r m p r o p e r ly filled o u t n o t la te r
th a n J u n e 30, 1951. T h o s e w h o b ecom e s u b je c t t o th e re g u la tio n a f t e r M a y 31, 1951, sh ou ld re tu rn th is fo r m w ith in 30 d a y s a ft e r
th e y b e co m e s u b je ct.
W h o is to register— A R e g is tr a n t is d efin ed in th e re g u la tio n as a p e r so n w h o e ith e r (1 ) exten d s o r h a s e x ten d ed re a l esta te
c r e d it m o re th a n th re e d iffe r e n t tim es d u r in g th e c u r r e n t ca le n d a r y e a r o r d u r in g th e p r e ce d in g c a le n d a r y e a r , o r ( 2 ) e x te n d s o r
h a s e x te n d e d re a l e s ta te cr e d it in an a m ou n t or a m ou n ts a g g r e g a t in g m o re th a n $50,000 d u r in g th e c u r r e n t ca le n d a r y e a r o r th e
p r e c e d in g c a le n d a r y e a r . In o th e r w o r d s , y o u sh ou ld r e g is t e r i f y o u e x ten d ed rea l esta te cr e d it fo u r tim es o r m o re in e ith e r 1950
o r so f a r in 1951, o r i f y o u e x ten d ed m o re th a n $50,000 o f su ch c r e d it in e ith e r o f th ese y e a r s . E x te n s io n o f re a l e s ta te cre d it
in clu d e s n o t o n ly c r e d it s ecu red b y re a l esta te, b u t a lso c r e d it f o r th e p u rp o s e o f p u rch a s in g , fin a n cin g , o r c a r r y in g re a l e sta te.
T h e n u m b e r a n d a m o u n t o f c r e d it ex te n s io n s in clu d es tr a n s a c tio n s a s a fid u cia ry o r a s a g e n t, a s w ell as f o r y o u r ow n a cco u n t.
E x a m p le s o f th o s e w h o sh ou ld r e g is t e r a re g iv e n b elow . I f a ft e r s tu d y in g th ese in s tru ctio n s a n d ex a m p les y o u
u n c e r ta in w h e th e r o r n o t t o r e g is t e r , y o u m a y c o n s u lt th e n e a r e st F e d e r a l R e s e rv e B a n k o r b ra n ch .

a re

still

( a ) O rg a n iz a tio n s a n d in d iv id u a ls le n d in g on m o r tg a g e s , deed s o f tr u s t, la n d co n tr a c ts , o r th e lik e , w h e th e r first
o r ju n i o r lie n s , o r p u r c h a s in g or d is co u n tin g su ch in stru m en ts.
( b ) B u ild e rs o r o th e r sellers o f re a l esta te s e llin g s u b je ct to , o r w ith a ssu m p tion o f , p r e v io u s ly e x is t in g m o r tg a g e s
on w h ich th e y w e re th e o b lig o rs .
( c ) M o r t g a g e o r re a l es ta te b ro k e rs , or o th e rs w h o a r r a n g e f o r ex te n s io n s o f c r e d it in co n n e ctio n w ith re a l esta te
a s a g e n ts f o r th e len d er.
( d ) L o a n a n d fin a n ce com p a n ies, co m m e rcia l b a n k s a n d tr u s t co m p a n ie s , c r e d it u n ion s, a n d s im ila r o r g a n iz a tio n s
o r in d iv id u a ls le n d in g t o o th e rs f o r th e p u r c h a s in g , c a r r y in g , o r fin a n cin g o f . r e a l esta te, r e g a r d le s s o f th e n a tu r e o f th e
s e c u r ity .
Subsidiaries, affiliates, and branches— S u b sid ia rie s a n d affiliates w h ich a re s u b je c t t o th e re g u la tio n sh ou ld r e g is t e r w h eth er
o r n o t th e p a r e n t o r g a n iz a tio n r e g is te r s . O r g a n iz a tio n s o r oth er p e r so n s m a in ta in in g b ra n ch offices sh ou ld r e g is t e r f o r th e
h ead office a n d a ll b ra n ch offices, s h ow com b in ed fig u r e s in Item s I I I a n d I V f o r all offices, a n d a tta ch a lis t o f b ra n c h offices
u n le ss R e g is t r a n t is a ban k.
Fiduciaries— F id u c ia r ie s , in clu d in g tr u s te e s , tr u s t com p a n ies, a n d tr u s t d e p a rtm e n ts o f co m m e rcia l b a n k s , sh ou ld file s e p a ­
r a te ly fr o m a n y o r g a n iz a tio n s o r o th e r p e r so n s w ith w h ich th e y a re affilia ted. F id u c ia r ie s sh ou ld r e p o r t in Item I I I as “ loa n s
h eld f o r ow n a c c o u n t” lo a n s w h ich th e y h old o r s e r v ic e in a n y fid u cia ry c a p a c it y , re g a r d le s s o f th e d e g re e o f d is cr e tio n o r c o n ­
tr o l in v o lv e d , in c lu d in g lo a n s w h ich th e y h old o r s e rv ice a s a g e n ts f o r oth ers.
FILL O U T T H E STA TEM E N T ON TH E REVERSE O F T H IS FORM AND RETURN T O T H E NEAREST FEDERAL
RESERVE B AN K O R BRANCH. Y O U M U ST RETURN T H IS FORM B Y JUNE 3 0 , 1 9 5 1 , O R W IT H IN 3 0 D AYS AFTE R YO U
BECOME SUBJECT T O TH E R EG U LATIO N, W H IC H E V E R IS LATER.




REAL ESTATE CREDIT REGULATION
REGISTRATION STATEMENT UNDER REGULATION X
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
For instructions refer to reverse o f this form

L e g a l n am e o f R e g is t r a n t ( p r in t o r t y p e )

S tre e t a d d re ss

S ta te a lso tr a d e n am e i f d iffe r e n t fr o m le g a l nam e

C ity

Zone N o.

I. In d ica te b y ch eck m a rk w h e th e r R e g is t r a n t is in b u sin ess as
tio n ---------- , o r ( 4 ) o th e r f o r m

(1 )

C o u n ty

S ta te

i n d i v i d u a l ______ , ( 2 ) p a r t n e r s h i p ______ , ( 3 )

( s p e c i f y ) __________________________________________________________________________________________________

II. Principal business o f Registrant.

(Check only one.)

□

(1 )

C o m m e rcia l b a n k o r tr u s t co m -

□

( 1 0 ) R ea l es ta te b r o k e r o r a g e n t

□

*>any
( 2 ) T r u s t d e p a rtm e n t o f co m m e rcia l b a n k

□
n
^

□

(3 )

S a v in g s b a n k

□

(4 )

S a v in g s a n d loa n a sso c ia tio n

( 1 1 ) B u ild e r o r d e v e lo p e r
n ov n„ ,
,
.
. ,
' D e a le r o r c o n tr a c t o r in h e a t­
in g , p lu m b in g , a ir co n d itio n in & e q u ip m e n t, etc., o r r e n o ­
v a tio n a n d re p a ir s
(1 3 ) gchool> u „ iversity> c h a r i t f b le

□

(5 )

In s u ra n c e c o m p a n y

□

(6 )

S a les fin a n ce c o m p a n y

□

(7 )

S ta te -lice n s e d sm a ll loa n co m -

n

fo u n d a tio n , c h u rch , o r s im i­
la r ed u ca tio n a l, c h a rita b le ,
o r n o n p r o fit o r g a n iz a tio n
^

Pa n y

I n v e s to r

□

(8 )

M ortg a g e com p a n y

□

(9 )

(1 5 )

In d iv id u a l tr u s te e o r e x e cu to r

□

□

(1 6 )

O th er

M o r t g a g e b ro k e r o r a g e n t

( s p e c i f y ) ________________

________________________________

I I I . O u ts ta n d in g a m o u n t o f loa n s secu re d b y rea l esta te, held b y R e g is t r a n t f o r ow n a cco u n t a s o f M a y 31, 1951.
m a te a n y fig u r e s w h ich a re n o t re a d ily a v a ila b le a n d m a rk th em “ e s t.” )
A . On re s id e n ce s , re s id e n tia l p r o p e r tie s , o r m u lti-u n it re s id e n tia l p r o p e r t ie s :
(1 )

corp ora­

In su re d b y th e F e d e ra l H o u s in g A d m in istra tio n

(P le a s e e sti­

A m o u n t o u ts ta n d in g

......................................................................................

$ __ ____________ _____

11

( 2 ) G u a ra n te e d o r in su re d b y th e V e te ra n s A d m in is tr a tio n (in c lu d in g th e V A g u a ra n te e d
se co n d m o r tg a g e p a r t o f “ co m b in a tio n ” lo a n s ) ......................................................................................

$____________________

12

(3 )

N o t in s u re d o r g u a r a n t e e d ........................................................................................................................................... .... $_____________________

(4 )

T o ta l, re s id e n tia l p r o p e r t ie s ............................................................................................................................................. $ _____________________

13
14

B . O n a ll o th e r p r o p e r t ie s :
(1 )

F a r m ............................................................................................................................................................................................... $ _____________________

(2 )

O t h e r ............................................................................................................................................................................................. %_____________________

(3 )

T o t a l, a ll o th e r p r o p e r t ie s ............................................................................................................................................... .... $_____________________

25
26
27

C. T o ta l, lo a n s secu red b y r e a l esta te
(S u m o f A ( 4 )

an d B ( 3 )

a b o v e ) ........................................................................................................................................

IV . O u ts ta n d in g a m o u n t o f lo a n s secu re d b y re a l es ta te w h ich w ere b e in g s e rv ice d b y

*

*

*

............ ........

38

R e g is t r a n t f o r

o th e rs as o f M a y 31, 1 9 5 1 ........................................................................................................................................................................

*

$ ............

$ — ............

....

49

*

I
c e r t ify u n d e r th e p en a lties o f R e g u la tio n X o f th e B o a rd o f G o v e r n o r s o f th e F e d e ra l R e serv e S y ste m th a t t o th e b e s t o f
m y k n o w le d g e a n d b e lie f th e f o r e g o in g fa c t s a re c o r r e c t (e x c e p t a s to a n y item s m a rk e d “ e s t.” w h ich a re e stim a ted in g o o d f a i t h ) .




D a te

S ig n a tu re o f R e g is t r a n t o r o f officer
a u th o r iz e d t o s ig n f o r R e g is t r a n t

T it le

Las sjaj,)

Registration Certificate
%eal Estate Credit
Date____________________

T

h is

IS TO CERTIFY THAT

has filed a Registration Statement pursuant to

R E G U L A T IO N X
concerning Real Estate Credit, issued by the Board
of Governors of the Federal Reserve System purlL *v'l rflpj
t"i •
I^J
suant to Executive Order Nc&/L0l6l and the
Defense Production Act of 1950.

Federal Reserve Bank o f N ew York




Manager, Real Estate and
Consumer Credit Department

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