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FEDERAL RESERVE OF NEW BANK YORK f Circular No. 2 9 8 3 1 I July 30, 1945 J CONSUMER CREDIT A M E N D M E N T NO. 17 T O R E G U L A T I O N W OF T H E B O A R D OF G O V E R N O R S OF T H E F E D E R A L R E S E R V E SYSTEM To Registrants under Regulation W, and Others Concerned, in the Second Federal Reserve District: The Board of Governors of the Federal Reserve System has adopted, effective July 27, 1945, the following amendment to Regulation W dealing with consumer credit. A M E N D M E N T NO. 17 TO R E G U L A T I O N W ISSUED BY THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Regulation W is hereby amended in the following respects, effective July 27, 1945. 1. B y changing section 8(d) to read as follows: (d) Military Aircraft Credits.—Any extension of credit to finance the purchase of military aircraft other than a primary trainer. 2. B y inserting in clause (1) of section 8(h) entitled " A g r i c u l tural L o a n s " the words " o r by any Federal land b a n k " following the words " F e d e r a l Farm Mortgage Corporation". 3. B y changing section 8(1) to read as follows: (I) Railroad Watches.—Any extension of credit to finance the purchase of a railroad standard watch (whether new or used) by a railroad time service employee, provided the Registrant obtains a statement signed by the division superintendent of the railroad by which the purchaser is employed certifying that the purchaser is required to carry such a watch in the performance of his duties and has no watch suitable for the purpose. 4. B y changing Item 3 in Group " L i s t e d A r t i c l e s " to read as follows: A of section 1 3 ( a ) entitled 3. A i r c r a f t (including gliders) designed f o r a useful load of 1,000 pounds or less. Additional copies of this circular may be obtained upon request. ALLAN SPROUL, President.