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FEDERAL. R ESER VE

Circular No. 6

BANK

Series of 1925.

OF D ALLA S

July 24, 1925.

IN C R E A SE IN LIM ITATION ON A M O U N T FO R W H IC H F E D E R A L
R E SE R V E E X C H A N G E D R A F T S M AY BE D R A W N

To the Member Bank Addressed:

Supplementing our circular No. 14, series of 1919, on the subject of
“ Federal Reserve Exchange and Transfer Drafts,” this is to advise you
that at a recent conference o f Governors of the Federal Reserve Banks
it was decided, effective August 1, 1925, to increase the limitation upon
the amount for which single Federal Reserve exchange drafts may be
drawn from $5,000 to $50,000.
Member banks now using this facility, as well as those contemplating
its use, will be required to execute form o f agreement which may be ob­
tained by addressing a letter to the head office at Dallas or to the Houston
or El Paso Branch, as the case may be.
Yours very truly,

Governor.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)


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