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Ar Federal Reserve N ew York, Bank of N ew York N.Y. 10045 AREA CODE 2 1 2 7 3 2 - 5 7 0 0 March 15, 1972 To the Commercial Bank Addressed: Enclosed is a copy of our Circular #6912, dated March 10, 1972, an amendment to the Voluntary Foreign Credit Restraint guidelines for banks, a copy of which you received earlier this week. The Board of Governors has asked me to inform you that the first sentence of the amended paragraph, which reads: "A bank subsidiary (including a bank holding company) may elect to consolidate ... previous guidelines." should read as follows: "A bank subsidiary (including a bank, Edge Act Corporation, or Agreement Corporation) of a bank holding company may elect to consolidate ... previous guidelines." Thank you once again for your continued cooperation. Very truly y o u r s , Assistant Vice President Enclosure
@FedFRASER