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FEDERAL RESERVE BANK
OF D A LL A S

June 7, 1929
PRESERVATION OF MEMBER BANK RECORDS
To the Member Bank Addressed:

For your information, and by order of the Federal Reserve Board, there is quoted
below a communication received by the Board from the Department of Justice with ref­
erence to the above subject.
Yours very truly,
Federal Reserve Agent
“DEPARTMENT OF JUSTICE
Washington, D. C.

April 29, 1929
“The Governor
The Federal Reserve Board
Sir:

“It has been brought to my attention that the Special Accountants of this
Department assigned to investigate alleged violations of the Federal criminal
statutes at member banks not infrequently find difficulty in locating the neces­
sary records to support the criminal charges, and it has been suggested that
this condition would be remedied if such banks were to preserve all bank rec­
ords, subsidiary and otherwise, for the period named in the Statute of Limita­
tions, that is, the term of three years.
“The question whether the proposed practice is desirable, and, if so, what
steps, if any, may properly be taken by your Board to bring it about, is sub­
mitted for your consideration.
Respectfully,
For the Attorney General
(Signed) 0. R. LUHRING,
Assistant Attorney General ”

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


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