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FED ERAL RESER VE BANK
O F N EW YORK
Fiscal Agent o f the United States

f Circular No 3 9 3 5 I
I January 13,1953 I

RESULTS OF BIDDING FOR TREASURY BILLS
DATED JANUARY 15, 1953
To all Incorporated Banks and Trust Companies, and Others
Concerned, in the Second Federal Reserve D istrict:

A t the time o f printing our Circular No. 3932, dated January 13,1953, announcing
an offerin g o f 91-day T reasury bills, to be dated January 22, 1953, the results o f
bidding fo r the previous w eek ’ s issue o f 91-day T reasury bills, to be dated January
15,1953, and m aturing A p ril 16,1953, were not available. The results, now available,
a re:
Total applied fo r ..

$2,035,956,000

Total a cce p te d .........

1,400,121,000

Average price .................

99.463-f-

Range o f accepted competitive bids:
H i g h ..............................
99.550
L ow

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

99.454

(includes $257,027,000 entered on a non­
competitive basis and accepted in full
at the average price shown below )
Equivalent rate o f discount approx.
2.124% per annum
Equivalent rate o f discount approx.
1.780% per annum
Equivalent rate o f discount approx.
2.160% per annum

(31 percent o f the amount bid for at the low price was accepted)
Federal Reserve
District

Boston ................................................... $
New Y o r k .............................................
Philadelphia .........................................
C lev ela n d ...............................................
Richmond .............................................
Atlanta .................................................
Chicago .................................................
St. L o u i s ...............................................
Minneapolis .........................................
Kansas City .........................................
Dallas ...................................................
San Francisco ....................................
Total




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

Total
Applied fo r

,15,005,000
$
1,386,028,000
32,924,000
56,398,000
27,941,000
40,428.000
206,685,000
54,997,000
14,119,000
71,791.000
62,759,000
66,881,000
$2,035,956,000

Total
Accepted

14.805,000
809,343,000
19,474,000
56,398,000
27,441.000
40,428,000
161,685,000
54,997,000
14,119,000
71,791,000
62,759,000
66,881,000
$1,400,121,000
A

llan

S

proul,

P resident.

FED ERAL RESER VE BANK
O F NEW YORK

January 15, 1953.

To all Member and Nonmember Clearing Banks in the
Second Federal Reserve District, and Others Concerned:

On the reverse side o f this letter there are set forth lists showing
(1 ) the currently effective operating circulars o f this Bank, and the
supplements thereto, and (2 ) the currently effective R egulations o f the
B oa rd o f G overnors o f the F ederal R eserve System , and the amend­
ments and supplements thereto. The lists w ill enable you to determine
whether you r sets o f those docum ents are com plete. W e shall be pleased
to furnish upon request copies o f any which you do not have.
W e transm it herewith revised tables o f contents o f the operating
circulars and o f the regulations to replace those now in you r binders.




A

llan

S

proul,

President.

(o v e r )

C U R R E N T L Y E F F E C T IV E
O P E R A T IN G C IR C U L A R S O F F E D E R A L R E S E R V E B A N K OF N E W Y O R K
and
R E G U L A T IO N S O F T H E B O A R D O F 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 S Y S T E M

January 15, 1953

Operating Circulars
.

Operating Circular No. 1

Regulations

. January 12,1953

Operating C ircular No. 2

.

. October 18,1949

Operating Circular No. 3

.

.

.

May 27,1952

.
.

. . July 1,1951
. October 29,1952

Operating Circular No. 5

.

.

. July

1,1951

Operating C ircular No.

.

.

.

1,1951

Operating C ircular No. 4
F irst Supplement . .

.

Regulation A

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

Amendment . . . .
Amendment . . . .
Amendment . . . .
Regulation B

1937
1942
February 17 1949
2 1 1951
1

20

.

.

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

15 1930

Regulation C ......................

31 1946

Regulation D ......................
Supplement . . . .

16 1948
28 1950

J uly

1

Regulation F
6

Regulation E ......................

5 1951

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

Regulation G ......................
Regulation I I ......................

1940

1

.

. September

1940

Operating C ircular No.

Operating Circular No. 10
F irst Supplement . .

.
.

Operating Circular No. 11

.

Operating Circular No. 12
F irst Supplement . .

.
.

Operating Circular No. 13

.

1,1952

November

1, .1949

December

.

8

. October

8,1947
8,1951

. September 29,1952

1

1952

Regulation I

.

Operating Circular No. 7

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

1

1936

Regulation J

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

1

1949

Regulation K ......................
Amendment . . . .
Amendm ent . . . .
Amendm ent . . . .
Regulation L

.

.
.

. June 17,1949
. A p ril 10,1951

.

.

August 18,1950

.
.

.
.

29 1930
1 1937
November 1 1943
February 2 1945

.

.

.

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

Amendm ent . . . .

1

.

July

Regulation M ......................

1

1940
1948

14 1937

Regulation N ......................

Operating Circular No. 14
Operating Circular No. 15

.
.

.
.

November 13,1950
.

.

J uly

1,1952

Operating Circular No. 16

.

.

.

. June 25,1951

Operating Circular No. 17

.

.

. January

9,1951

Operating Circular No. 18

.

.

.

2,1951

1

1944

Regulation O ......................

1

1939

1

1936

11

1937
1936
1952

Regulation P

Regulation Q .....................
Supplement . . . .
Amendm ent . . . .

Operating C ircular No. 19
Operating Circular No. 20




.
.

.
.

.

March 24,1950

. January 10,1952

1

.

Regulation R ......................
Regulation S

. J u ly

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

.

.

.

J u ly

1

4 1936

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

30 1942

Regulation T ......................
Supplement . . . .
Amendm ent No. 11 .

2 0 1949
17 1951
. September 3 1951

Regulation U ......................
Supplement . . . .
Regulation V

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

.

20

1949

17 1951
27 1950

F

ed eral
o f

R
N

eserve

ew

Y

B

ank

o rk

CONTENTS
Title o f Operating Circular

No.

Authorized S ign a tu res.............................................................................

1

Reserves o f Member Banks.......................................................................

2

Paper Currency and C oin.........................................................................

3

Collection o f Cash Item s...........................................................................

4

New Y ork Head Office Time Schedule....................................................

5

Buffalo Branch Time Schedule..............................................................

6

Saturday C lo s in g ......................................................................................

7

Collection o f Noncash Item s.....................................................................

8

Transfers o f F u n d s....................................................................................

10

Schedule o f Time Limits fo r Telegraphic Transfers of
Funds to Other Federal Reserve Banks and Branches...............

11

Advances and Discounts U nder Sections 13, 13a and 1 0 (b )
o f the Federal Reserve A c t ................................................................

12

Discount Rates............................................................................................

13

Safekeeping, H andling and Shipment o f Securities..........................

14

Payment o f Interest on Time and Savings D eposits........................

15

Federal Reserve Bank Stock ...................................................................

16

Transactions in Marketable Securities o f the United States.........

17

Deposit o f Federal Taxes W ith Depositary Banks..........................

18

Reports o f Transactions in Foreign Exchange, Transfers of
Credit, and the E xport o f Coin and C u rrency............................

19

United States Savings Bonds, Series E , Instructions to
Issuing Agents ......................................................................................

20

(Rev. 1-15-53)




F

R

e d e r a l
o f

N

eserve

ew

Y

B

ank

o r k

BOARD OF GOVERNORS
OF T H E FE D E R A L R E SE R V E SYSTEM
RULES
Rules o f Organization and Rules o f Procedure
REGULATIONS
D iscounts f o r and Advances to Member Banks by
Federal Reserve B anks.......................................................................................

A

Open M arket Purchases o f B ills o f Exchange, Trade Acceptances and
Bankers’ Acceptances U nder Section 1 4 ........................................................

B

A cceptance b y Member Banks o f D rafts or Bills o f E x ch a n ge................

C

Reserves o f Member B a n k s..................................................................................

D

Purchase o f W a rran ts.............................................................................................

E

Trust Pow ers o f National B ank s.........................................................................

F

Collection o f Noncash Item s................................................................................

G

Membership o f State Banking Institutions in the
Federal Reserve System ....................................................................................

H

Increase or Decrease o f Capital Stock o f Federal Reserve Banks and
Cancelation o f Old and Issue o f New Stock Certificates........................

I

Cheek Clearing and C ollection ..............................................................................

J

Banking C orporations Authorized to do F oreign Banking Business
U nder the Term s o f Section 2 5 (a ) o f the Federal Reserve A c t ...........

K

Interlocking Bank D irectorates U nder the Clayton A c t .............................

L

F oreign Branches o f National Banks and o f Corporations Organized
U nder the Provisions o f Section 2 5 (a ) o f the Federal Reserve A c t . .

M

Relations with F oreign Banks and B ankers...................................................

N

Loans to Executive Officers o f Member B ank s...............................................

0

H oldin g Com pany Affiliates— V otin g P erm its...............................................

P

Payment o f Interest on D eposits.......................................................................

Q

Relationships with Dealers in Securities Under Section 32 o f the Bank­
in g A c t o f 1933....................................................................................................

R

Industrial Loans by Federal Reserve B ank s...................................................

S

Extension and M aintenance o f Credit by Brokers, Dealers, and Members
o f National Securities E xchanges...................................................................

T

Loans by Banks fo r the Purpose o f Purchasing o r C arrying Stocks
Registered on a National Securities E xchange..........................................

U

Loan Guarantees fo r D efense P rod u ction ........................................................

V

(Rev. 1-15-53)




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