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F E D E R A L RESERVE BANK
O F NEW Y O R K

r Circular No. 2 9 6 8
I
July 2, 1945

REGULATION D, RESERVES OF MEMBER BANKS
Amendment Effective August 1, 1945

To each Member Bank in the
Second Federal Reserve
District:

T h e B o a r d o f G o v e r n o r s o f the F e d e r a l R e s e r v e System has adopted the f o l l o w ing amendment to its Regulation D , to become effective A u g u s t 1,1945, with respect
to the computation of reserves o f member banks having out-of-town branches.
RESERVES OF MEMBER BANKS
AMENDMENT TO REGULATION D
ISSUED BY T H E BOARD OF GOVERNORS OP T H E FEDERAL RESERVE S Y S T E M

Section 2, subsection (a) of Regulation D is amended, effective August 1, 1945, by
inserting immediately before the last paragraph of such subsection the following new
paragraph:
" F o r the purposes of this subsection and of paragraph (1) of subsection (a) of
section 3 of this regulation, a member bank shall be considered to be in a central reserve
city if the head office or any branch of such bank is located in a central reserve city,
and a member bank shall be considered to be in a reserve city if the head office or any
branch thereof is located in a reserve city and neither the head office nor any branch
thereof is located in a central reserve city; provided that, if a member bank is considered to be in a central reserve city or a reserve city under this paragraph solely by
reason of the location of an office of such bank in an outlying district of such a city or
in territory added to such city by the extension of the city's corporate limits, such
bank may, upon the affirmative vote of five members of the Board of Governors of the
Federal Reserve System, be permitted to maintain lower reserve balances as above provided in this subsection."
A d d i t i o n a l copies of this circular will be furnished u p o n request.




ALLAN

SPEOUL,

President.

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