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FEDERAL RESERVE BANK OF NEW YORK TCircularNo. 16O1 "1 L October 19, 1935 J AMENDMENT OF REGULATION T OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM. To Members of National Securities Exchanges, Brokers and Dealers in Securities, and Banking Institutions, in the Second Federal Reserve District: For your information I quote below Amendment No. 6 (effective October 29, 1935) of Regulation T of the Board of Governors of the Federal Reserve System: Amendment No. 6 of Regulation T—Effective October 29, 1935. Section 3 of Regulation T is hereby amended by adding at the end thereof a new subsection reading as follows: "(») Warrants.—Notwithstanding any other provision of this regulation, the maximum loan value of any warrant or certificate which evidences a right to subscribe to or otherwise acquire any security and which by its terms expires within ninety days of issuance shall be nothing: Provided, That in any case in which an account contains, in addition to such warrant or certificate, the security in respect of which such warrant or certificate has been issued, the current market value of such security shall, for the purpose of calculating its maximum loan value, be increased by the current market value of such warrant or certificate." Additional copies of this circular will be furnished upon request. J. H. CASE, Federal Reserve Agent.
@FedFRASER