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FEDERAL RESERVE
OF NEW

BANK

YORK

r Circular No. 2 » 0 0 1
I February 6, 1945 J

CONSUMER

CREDIT

AMENDMENT NO. 15 TO REGULATION W OF THE BOARD OF GOVERNORS
OF T H E FEDERAL RESERVE SYSTEM

To all Financial Institutions Subject to Regulation IV, and
Others Concerned, in the Second Federal Reserve
District:

The Board of Governors of the Federal Reserve System has adopted, effective
February 5, 1945, the following amendment to Regulation W dealing with consumer
credit.
AMENDMENT NO. 15 TO REGULATION W
ISSUED BY THE BOARD OF GOVERNORS OP THE FEDERAL RESERVE SYSTEM

Regulation W is hereby amended, effective February 5, 1945,
by adding " o r by any State agency pursuant to similar State legislation" at the end of subsection (q) of section 8 entitled " E x c e p t i o n s "
so that subsection (q) will read as follows:
(q) Servicemen's Guaranteed Loans. — Any extension of
credit guaranteed in whole or in part by the Administrator of
Veterans' Affairs pursuant to the provisions of Title I I I of the
Servicemen's Readjustment Act of 1944, or by any State agency
pursuant to similar State legislation.

Additional copies of this circular may be obtained upon request.




ALLAN SPROUL,

President.

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