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FEDERAL RESERVE BANK OF DALLAS
F IS C A L A G E N T O F TH E U N ITE D S T A T E S

Dallas, Texas, January 18,1946

IMPORTANT CHANGE IN PROCEDURE IN MAKING WITHDRAWALS
FROM WAR LOAN DEPOSITARY BANKS IN GROUP A

To the War Loan Depositary Bank Addressed:

In view of the termination of periodic War Loan drives, the Treasury
Department has adopted the procedure outlined below in making calls from
War Loan depositaries in Group A. This method will involve a minimum of
work and will for practicable purposes provide a uniform percentage of
withdrawals from Group A and Group B banks.
Under the new procedure, which will be followed until further notice,
the Treasury will aggregate the amount of withdrawals periodically from
Group B depositaries and at the close of such period a call upon Group A
banks in a corresponding amount will be issued for payment in one install­
ment. For example, if at the beginning of January a Group B bank has a
balance of $1,000,000 and there are four calls of four percent each on current
balances, such calls would be equivalent to about fifteen percent on the ini­
tial balance. Consequently, a fifteen percent call would be made near the
end of January on Group A depositaries for payment on February 11 or
thereabouts. Initially a monthly period will be used but later, as the bal­
ances decrease, longer periods may be desirable.

Yours very truly,
R. R. GILBERT
President

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


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