Full text of District Notices (Federal Reserve Bank of Dallas) : Amendment to Regulation M

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Federal Reserve

bank

of

Da llas

DALLAS, TEXAS

March 8 ,1 9 6 5

A M END M ENT TO REGULATION M

To All Member Banks in the
Eleventh Federal Reserve District:
There is enclosed an amendment to section 213.4 of Regula­
tion M, Foreign Branches of National Banks, issued by the Board
of Governors of the Federal Reserve System effective March 1,
1965. The purpose of the am endm ent is to perm it overseas
branches of member banks to pay preferential rates of interest
on deposits of their officers and employees if the branches are
located in countries where it is consistent with law and practice
to do so.
Member banks are requested to insert this amendment in
their ring binders containing the Regulations of the Board of
Governors and the Bulletins of this bank.
Yours very truly,
Watrous H. Irons
President

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

FOREIGN BRANCHES OF NATIONAL BANKS
AMENDMENT TO REGULATION M
(1 2 CFR Part 2 1 3 )
I ssu ed

by th e

B oard

of

G overnors

of the

F eder al R eser ve S y s t e m

Effective March 1, 1965, section 213.4 is amended by adding the
following paragraph thereto:
(g)

Pay to any officer or employee of the branch a greater rate of

interest on deposits than that paid to other depositors on similar deposits
with the branch.