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BULLETIN No. 2 SEPTEMBER 15,1939 FEDERAL RESERVE BANK OF DALLAS BANKERS’ ACCEPTANCES Evidences o f Eligibility fo r Purchase or Discount by Federal Reserve Banks To the Member Banks of the Eleventh Federal Reserve District: Subdivision (e ) of Section 6 of Regulation A of the Board of Governors of the Federal Reserve System, revised effective October 1, 1937, provides: “ A Federal Reserve bank must be satisfied, either by reference to the accept ance itself or otherwise, that the acceptance is eligible for discount under the terms of the law and the provisions of this regulation. The bill itself should be drawn so as to evidence the character of the underlying transaction, but if it is not so drawn evidence of eligibility may consist of a stamp or certificate affixed by the acceptor in form satisfactory to the Federal Reserve bank.” The Board of Governors of the Federal Reserve System and all Federal Reserve banks have approved the following standard certificate forms and, accordingly, if the bill as drawn does not clearly disclose on its face the char acter of the underlying transaction, certificates as follows should either be stamped on or affixed to the acceptance: Underlying Transaction Form o f Certificate DOMESTIC SHIPMENTS: “ At time of acceptance, this bill was ac companied by shipping documents evi dencing the domestic shipment of (name o f com m odity) from (point o f ship ment) to (place of destination). (Name of Acceptor)” IMPORT AND EXPORT TRANSACTIONS: “ The transaction which gives rise to this instrument is the ( importation) 0£ ( name (exportation) ot com m odity) from (point o f ship ment) to (place of destination). (Name of Acceptor)” WAREHOUSE SECURED CREDIT: “ This bill was secured at the time of ac ceptance by independent warehouse, terminal, or other similar receipt con veying security title to (name of readily marketable staple) stored in (country where stored). (Name of Acceptor)” Yours very truly, P. E. Coldwell President April 10, 1969 This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
@FedFRASER