Full text of District Notices (Federal Reserve Bank of Dallas) : Emergency Bulletins of the Federal Reserve Bank, Pages to be Inserted Into the Red Loose-Leaf Binder

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federal

Reserve

ban k

Da l l a s

D ALLAS, TEXAS

Sept. 3, 1963

To All Banks in the
Eleventh Federal Reserve District:

Enclosed for insertion in the red loose-leaf binder entitled Emergency
Bulletins of the Federal Reserve Bank o f Dallas a re:
1.
2.
3.
4.
5.

Table o f Contents for Emergency Bulletin Manual
General Emergency Circular
Emergency Bulletin No. 5A — Cash Operations
Emergency Bulletin No. 12A — Discounts and Advances
Emergency Regulation No. 1 of the Board o f Governors of
the Federal Reserve System
6. Emergency Regulation No. 2 o f the Board o f Governors of
the Federal Reserve System
7. Forms (tw o copies) for reporting postattack status o f bank
Knowledge o f the operating capability o f the commercial banking system
will be of the utmost importance immediately following an enemy attack. It is
recommended that your officers and directors take this occasion to review this
material carefully since it is o f extreme importance that all commercial banks
have an exact knowledge of the provisions that have been made for the con
tinuity of the banking system in the event of national emergency and of the
restrictions that will be placed on the use o f money and credit. W e also ask
that you check carefully to see that all documents listed in the Table of
Contents are inserted in your copy o f the manual.
If you have any questions or comments in regard to the emergency
material, we shall appreciate your writing us. Please acknowledge receipt
of these documents by signing and returning the enclosed postal card.
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)

E M E R G E N C Y B U L L E T IN S
OF T H E
FED ER AL RESERVE BAN K OF D ALLAS

TABLE OF CONTENTS

General Emergency Circular, dated September 3, 1963
Summary o f Emergency Planning by the Federal Reserve Bank o f Dallas,
dated November 2, 1959
Information Regarding the Collection of Cash and Noncash Items During an
Emergency, dated November 2, 1959.
Annex 27 to the National Plan for Civil Defense and Defense Mobilization,
issued November 1960
Treasury Department:
Emergency Banking Regulation No. 1, dated January 10, 1961
Statement o f the Secretary concerning Emergency Banking Regulation
No. 1, dated January 10, 1961
Delegation to Board o f Governors o f Federal Reserve System o f Emer
gency Authority, dated January 10, 1961
Board o f Governors o f the Federal Reserve System :
Emergency Regulation No. 1, dated January 15, 1962
Emergency Regulation No. 2, dated January 15, 1962
Emergency Bulletin No. 5A, dated September 3, 1963
Cash Operations During a National Emergency
Emergency Bulletin No. SB, dated October 15, 1959
Collection o f Cash Items During an Emergency
Emergency Bulletin No. 9A, dated October 15, 1959
Collection of Noncash Items During an Emergency
Emergency Bulletin No. 12A, dated September 3, 1963
Advances and Discounts During a National Emergency
Report of Operating Status of Commercial Bank
T o be Prepared and Forwarded to Relocation Office o f Federal Reserve
Bank o f Dallas

Fe d e r a l

Reserve

ban k

Da l l a s

DALLAS, TEXAS

September 3, 1963

GENERAL EMERGENCY CIRCULAR

To All Banks in the
Eleventh Federal Reserve District:

There is presented below for commercial banks in the Eleventh Federal
Reserve District a summary o f the current emergency operating plans of the
Federal Reserve Bank of Dallas. Details o f some of these plans and other
planning material have been furnished from time to tim e; as other plans are
developed, additional material will be distributed in a form suitable for inclu
sion in the emergency binder heretofore provided each commercial bank in
this District.
The Role of Banking in a National War Emergency

1. In the event o f a national emergency, all banks shall remain open and
continue their operations and functions during their regularly established
hours, if at all possible. Such postattack operation of the banking system, which
is provided for in the Treasury Department’s Emergency Banking Regulation
No. 1 and Annex 27 to The National Plan for Civil Defense and Defense
Mobilization, will be necessary in order to assure the continued functioning
of a money and credit economy in undamaged areas and to assure the banking
system’s maximum contribution to economic activity, reconstruction, and
national security.
Effective Date of Emergency Procedures

2. The emergency plans o f this Bank, which include the procedures pre
scribed in the emergency bulletins furnished all commercial banks in the Dis
trict, shall become effective only upon notice given to the commercial banks in
this District by or on behalf o f the Federal Reserve Bank o f Dallas. Such
notice may be given by any regular or relocation office o f this Bank or by any
other Federal Reserve office acting on this Bank’s behalf.
Relocation Office

3. In the event the Head Office o f the Federal Reserve Bank of Dallas is
rendered inoperative by an enemy attack, the headquarters of this Bank will

—2—
be relocated at its San Antonio Branch, which is the primary relocation office.
I f both the Dallas and San Antonio offices become inoperative as a consequence
o f enemy attack, this Bank’s headquarters will relocate at any remaining opera
tive branch or at the secondary relocation office in Denton, Texas. The tele
phone numbers o f these offices are: San Antonio, Texas — 512 C A 7-4153;
El Paso, Texas — 915 532-1681; Houston, Texas — 713 C A 7-8281; and
Denton, Texas — 817 387-2105. Following an attack, all banks will be notified
as promptly as possible of the particular relocation office from which this Bank
will direct its operations during the emergency, or of the establishment o f an
alternate relocation site.
Currency Distribution

4. T o the extent possible, the currency needs o f banks in the Eleventh
District will be handled by those regular offices of this Bank that are in post
attack operation. W hile present plans do not contemplate processing shipments
o f currency at the secondary relocation office at Denton, arrangements have
been made for currency receipt and distribution during an emergency by
designating various member banks strategically located throughout the Eleventh
District to act as agents for this Bank within specified areas. Activation o f the
emergency cash agents will be decided as conditions warrant. It is believed
that these arrangements will provide a sufficient supply o f currency for emer
gency needs, in view of provisions in Treasury Department Emergency Bank
ing Regulation No. 1 pertaining to restrictions on cash withdrawals. N o
provision has been made for the receipt and distribution o f coin. Details
regarding receipt and distribution o f currency by agent banks are contained in
this Bank’s Emergency Bulletin No. 5A, dated September 3, 1963.
Collection of Checks

5. Based upon the assumption that a majority o f the regular Federal R e
serve offices and many of the larger commercial banks in the Eleventh District
would be out of operation following an attack, plans have been made for
decentralization o f this Bank’s check collection operations in an emergency.
For the purpose of this plan, commercial banks in the District have been
divided into 17 emergency check clearing groups, according to location, and a
specified commercial bank or group of commercial banks within each area has
been designated an emergency check agent of this Bank. Activation of the
emergency check agents will be decided as conditions warrant. Details o f the
check agent plan are contained in Emergency Bulletin No. 8B, dated October
15, 1959.
Changes in Areas Served by Agents

6. Postattack conditions may require changes in the areas to be served by
cash and check agents. Such conditions may involve reassignment of part o f an
area or complete reassignment of the entire area. It is possible that an agent
in one Federal Reserve district may be called upon to serve banks in a neigh
boring district.
Participation by Nonmeniber Banks

7. Participation by nonmember banks in the emergency plans of this Bank,
particularly those plans relating to the collection of checks and noncash items

and the distribution o f currency will require that nonmember banks arrange for
settlement for the transactions involved through the reserve account o f a
correspondent member bank. Participation agreement forms requiring execu
tion by both the nonmember bank and the correspondent member bank will be
furnished nonmember banks upon request to the Reserve Bank.
Noncash Items

8. During a national emergency, this Bank will suspend the normal practice
o f physical processing of noncash collection items, except those which are
payable in the city o f an operable office, or in the city o f the relocation office
o f the Federal Reserve Bank o f Dallas. This Bank will facilitate the passing of
credit to participating banks for noncash items by accepting, at its relocation
office, payments in finally collected funds for credit to appropriate reserve
accounts or nonmember clearing bank accounts of the sending banks. Details
are contained in Emergency Bulletin No. 9A, dated October 15, 1959.
Discounts and Advances

9. The primary objective o f the Federal Reserve System in the immediate
postattack period will be to provide liquidity for financing essential activities
and to promote confidence in the continued operation o f the monetary and
banking system. T o accomplish this objective, present lending powers of
Federal Reserve banks will be expanded, and restrictions as to collateral re
quirements and the maturity of loans will be liberalized. It is contemplated
that credit will be made available to member and nonmember commercial
banks, as well as to nonbank borrowers under certain conditions, in order to
promote essential activities. Details concerning the extension of credit in an
emergency are contained in Emergency Bulletin No. 12A, dated September
3, 1963.
Reserve Requirements

10. The schedule o f reserve requirements in effect at the time of an
emergency shall continue to be effective until a member bank receives notice
o f a change from the Board o f Governors of the Federal Reserve System or
from the Federal Reserve Bank o f Dallas or its relocation office. During a
national emergency, this Bank and other Federal Reserve banks are authorized
to (a ) raise or lower reserve requirements for member banks, without regard
to existing statutes or regulations, and vary requirements according to regions
or types of banks; (b ) require reports from nonmember banks for the pur
pose o f determining whether to extend reserve requirements to nonmember
banks; ( c ) extend reserve requirements to nonmember banks; and (d ) waive
penalties on deficient reserves.
Member Bank Reserve Accounts

11. A current record of each member bank’s reserve account balance is
kept at this Bank’s record storage centers for use in a national emergency.
During such an emergency, the effective date o f debits and credits to a member
bank’s reserve account, including entries covering advices received from check
agents, cash agents, and other Federal Reserve banks, will be the date of their
receipt at the relocation office. Because o f a probable longer time lag than at
present between posting dates at the Federal Reserve Bank and at the member

— 4—

bank, as well as in the receipt o f reserve account statements from the Federal
Reserve Bank, a member bank’s record o f its reserve account may be used
as the basis for determining maintenance of required reserves.
Transfers of Funds

12. Requests for transfers of funds to or from any office o f this Bank,
including its relocation office, should be held to a minimum during an emer
gency because o f the strong probability that communications under even the
best conditions may be very limited and because of the likelihood that long and
frequent delays may be encountered. Transfers of funds between banks located
in the Eleventh District which can be functioned on the books o f this Bank
will be completed as of the date requests for such transfers are received by
the Bank or its relocation office.
Securities Held in Safekeeping or as Collateral

13. A record o f securities held by this Bank for member banks in safe
keeping or as collateral is maintained at the Bank’s record storage centers. This
record will be current except for a possible lag due to conditions prevailing
at the time o f a national emergency.
14. Unpledged securities held in safekeeping by this Bank may be used
by the owning bank as collateral for borrowings, even though such securities
may not be physically available. During an emergency period, it might be
preferable for a bank to borrow, if necessary, against its unpledged U. S.
Government securities, rather than attempt to sell them in an unfavorable
market. The Board o f Governors o f the Federal Reserve System has an
nounced that, at such a time, the System would stand ready to promote con
fidence in the Government securities market. Banks could assist materially in
the attainment of this objective by refraining from adding to selling pressures
on the market.
15. Credit for matured issues o f unpledged U. S. Government securities
and coupons held in safekeeping by this Bank for a member bank will be given
to the owning bank’s reserve account as soon as possible.
Purchase and Sale of U. S. Securities in Bearer Form

16. Although Federal Reserve System policy places emphasis on extensions
o f credit rather than the purchase and sale o f bearer U. S. securities, Federal
Reserve planning includes actions for maintaining an orderly Government
securities market under emergency conditions.
Matured U. S. Government Securities and Coupons

17. Matured U. S. Government securities and coupons should be paid to
owners by commercial banks, subject to the cash withdrawal limitations of
Treasury Department Emergency Banking Regulation No. 1, which accom
panied this Bank’s circular letter o f March 16, 1961, to all banks in the
Eleventh District. Paid securities and coupons should not be shipped to the
Federal Reserve Bank of Dallas until appropriate instructions are received.

— 5—
Treasury Tax and Loan Accounts

18. Entries to Treasury tax and loan accounts will be continued during a
national emergency. Notices o f withdrawal calls on Treasury tax and loan
accounts will be given by such means o f communication as are available and
appropriate at the time.
Receipts of Withheld Taxes

19. The provisions o f Treasury Department Emergency Banking Regula
tion No. 1 permit certain kinds o f transfers o f balances that are in depositors’
bank accounts on the date the Regulation becomes effective. Am ong these
are transfers for the payment o f taxes.
20. Banks receiving deposits o f withheld taxes during a national emergency
should continue to make the customary settlement therefor with this Bank, if
at all possible.
Savings Bonds — Issuing Agents

21.
Qualified issuing agents for U . S. savings bonds should continue to
issue bonds in a time o f national emergency, as every source o f funds will be
required to finance the Federal Government. Issuing agents should continue to
send to this Bank periodic settlements for bonds issued; the bond stubs should
be retained by the issuing agents until shipping instructions are received from
the Reserve Bank.
Savings Bonds — Paying Agents

22. Paying agents may continue to redeem U. S. savings bonds, subject
to the cash withdrawal limitations o f Treasury Department Emergency Bank
ing Regulation No. 1. Agents should retain paid savings bonds in their custody
until otherwise notified by this Bank but should submit to the Bank statements
for the amounts paid.
Federal Reserve Bank Stock

23. Following an emergency, the books o f this Bank will be closed insofar
as Federal Reserve Bank stock transactions are concerned until conditions
permit this activity to resume. Dividends will continue to accrue on Federal
Reserve Bank stock outstanding as o f the date the books are closed.
Transactions in Process or in Transit
at the Time of a National Emergency

24. All Federal Reserve offices have plans which call for added pro
tection o f work in process at the time o f a national emergency. There is a
possibility, however, that, as the result o f an attack, some items at the Bank
may be destroyed; also, items which are en route from the Reserve Bank to
drawee banks, or which have reached the premises of drawee banks but have
not been remitted for, may be lost or destroyed.
25. Cash items would undoubtedly constitute the bulk o f lost or destroyed
items. T o effect collection of such items, sending banks will be required either
(a ) to prepare facsimiles o f the destroyed or lost items from microfilm records,

if available, or (b ) to obtain duplicates o f the missing items. The facsimiles
or duplicates should be submitted as “ new business.”
26. A s soon as possible following the occurrence o f a national emergency,
this Bank will endeavor to advise senders concerning items received, processed,
and recorded on its books. Sending banks should delay tracing transactions
with this Bank pending such notification. U pon receipt of statements from the
Federal Reserve Bank, information on unreconciled items should be furnished
the Reserve Bank, which will then give instructions as to disposition and
further action.
27. Banks are urged to maintain duplicates of their essential records at
a location other than their regular banking quarters so that such duplicate
record s may be available if the origin al records are destroyed o r are
inaccessible.
Right to Amend

28. The right is reserved to withdraw, add to, or amend, at any time, any
o f the provisions described in this circular.
Yours very truly,
W atrous H. Irons
President

FEDERAL RESERVE BANK
OF DALLAS

EMERGENCY BULLETIN NO. 5A
SEPTEMBER 3, 1963

(Effective only upon notice
during an emergency)

CASH OPERATIONS DURING A NATIONAL EMERGENCY
T o A ll Banks in the
Eleventh Federal Reserve D istrict:
A s a part o f the national preparedness program, the Federal Reserve
banks have established plans to decentralize the distribution o f currency during
a war or national emergency, in the event some or most of the Federal Reserve
offices are out of operation or are unable to serve some areas because o f trans
portation problems. Designated commercial banks acting as Cash Agents for
the Reserve banks will assume the distribution o f currency under conditions
outlined in the plans.
A list of the Agent banks designated by the Federal Reserve Bank o f Dallas,
and the counties or parishes they will serve, is attached. I f an enemy attack
renders offices o f this bank inoperative or makes it necessary for other reasons
that one or more o f the Agent banks begin operations, banks in the areas
affected will be advised that this supplement to our Bulletin No. 5 is in effect.
Those banks, when so notified, should look to the Agent bank serving their
area for supplies of currency and should make deposits o f surplus currency
with the Agent.
GENERAL TERMS AND CONDITIONS

1. The procedure for member banks in ordering currency and in
returning surplus currency will be the same as that used when such
transactions are with this bank, except that contact will be with the
appropriate Agent banks.
2. A nonmember bank may participate in the plan by making an
agreement in advance with a member correspondent for entries cover
ing its money shipments to be made through the correspondent’s
reserve account, with notification to this bank o f such an agreement.
Forms for this purpose will be furnished on request. A participat
ing nonmember bank may order currency from and ship currency to
its Agent bank in the same manner as a member bank.
3. A nonmember bank also may order currency from its Agent bank
with payment by draft immediately available to the Agent, or through
a member bank served by the Agent. A nonmember bank may make
shipments to the Agent for credit to a member bank whether or not
prior arrangements, as outlined in the foregoing paragraph, have
been made.
4. Orders for currency may be made by mail over an authorized
signature; by telegraph in A .B .A . code, properly tested; or by tele
phone to an officer of the Agent bank. Telegraph and telephone orders
should be confirmed in writing over an official signature.

5. Coin is not included in the emergency distribution plan. Banks
should make their own arrangements for exchanging coin with other
banks to meet their needs.
6. T o reduce the demand on Agent banks, all banks should make
every effort to make direct exchanges o f currency with nearby banks.
Some rationing of available currency stocks may be necessary during
brief periods in an emergency.

7. Currency should be circulated until it is worn out, as the sorting
o f fit from unfit currency will be discontinued during an emergency.
8. Canadian currency should not be sent to Agent banks but should
be held until an office o f this bank is equipped to convert it into
United States funds.
9. Except as amended by this supplement, the terms o f our Bulletin
No. 5 will govern the handling of currency during an emergency.
10. Charges and credits to the reserve accounts o f member banks in
connection with currency shipments will be entered on the books o f
this bank on the day advices are received from Agent banks.
A ny bank shipping or causing or ordering shipments o f currency from
an Agent bank of the Federal Reserve Bank o f Dallas shall, by such action,
be deemed to have agreed to the terms of this Emergency Bulletin No. 5A
and the applicable portions of the current Bulletin No. 5 o f the Federal Reserve
Bank of Dallas. During such time as this Bulletin 5A is in effect, paragraphs
3 to 6, inclusive, o f this bank’s Operating Bulletin No. 5 are suspended, and
the following paragraphs substituted in lieu thereof.
(1) Definition of National Emergency
“ National emergency” is an emergency in which the United States is
involved in war or which may be proclaimed by the President of the
United States to be a national war emergency or in which this Federal
Reserve Bank puts into effect its plan for emergency operations.
(2) Assumption of Risk
During a national emergency, notwithstanding the assumption of risk
provisions o f our Operating Circular No. 5, any bank (member or
nonmember) shipping or causing or ordering shipments o f currency
or coin to, from, or for the account of this bank or any branch thereof
or any bank acting for this bank as its agent to handle cash opera
tions during such emergency (hereinafter referred to as “ Cash Agent
bank” ) shall by such action be deemed to have agreed to the following
terms and conditions with respect to such shipments:
Subject to the terms of this circular, the Federal Reserve
Bank o f Dallas will assume all risks incident to the trans
portation o f such shipments o f currency or coin (a ) by
registered mail and (b ) by such other means o f transpor
tation as may be selected or approved by this bank or its
Cash Agent bank, from the time such shipments leave the
office of the sending bank until delivered at the office o f the
addressee bank, except as enumerated below.

3
Such risks hereby assumed shall include, but not be limited
to, any loss resulting from hostile or warlike action by any
military, naval, air forces, or agents o f domestic, foreign or
revolutionary governments, powers, or forces, whether or
not war has been formally declared and including defending
against an actual or expected attack; or any loss caused by
any weapon o f war employing atomic fission or radioactive
force.
This bank, however, will not assume any risk (other than
the war and nuclear reaction risks described in the preceding
paragraph) for shipments sent by Railway Express Agency,
Inc., while such shipments are in the custody o f the Railway
Express Agency, Inc., as the rate charged by the express
company on such shipments is based on the declared value
and the ordinary risks o f loss are assumed by the express
company under its shipping contract.
EXCEPTIONS

The Federal Reserve Bank of Dallas will not assume any
risk o f loss in any o f the following circumstances, and any
loss thereunder is agreed and understood to be assumed by
the bank shipping or causing or ordering such shipment:
a. A ny loss in excess o f $2,000,000 on all shipments by any
one banking office to this bank and to its Cash Agent banks
on any one day.
b. A ny loss resulting from any dishonest, fraudulent, or
criminal act o f an employee of any bank other than this
bank or its Cash Agent banks, shipping, causing, ordering
or receiving the shipment.
c. Any loss to the extent recoverable from any insurance,
surety or indemnity company pursuant to purchased insur
ance, surety or indemnity (including bankers’ blanket
bon d ), whether primary or excess, carried by or main
tained by any person other than this bank or its Cash Agent
banks.
d. A ny loss on any shipment by any bank, other than a
Federal Reserve Bank or a Cash Agent bank, not made in
conform ity with the provisions o f this circular.
(3) Preparation of Shipments
Any bank shipping or causing shipments of currency or coin to or
for the account o f this bank or any branch thereof shall by such action
be deemed to have agreed that all such shipments shall be prepared
and verified by one or more responsible employees o f the sender and
that the sealed package shall be in charge o f a responsible person
until deposited and registered at the post office, or delivered for
shipment by means of transportation selected or approved by this
bank or any Cash Agent bank and that the contents o f all packages
shall be enclosed in a strong wrapper, envelope, or cloth or canvas
bag, well secured, and sealed in a manner acceptable to the post

office, or the other approved means of transportation at the place of
mailing or dispatch.
DISPOSITION OF MONEY IN POSSESSION OF ARMORED CAR
CARRIER DURING AN ATTACK

This bank’s plan for distribution o f money in a national war emergency
provides for disposition o f money en route to, from, or for the account of
this bank by armored car during an attack. It is provided that, if disposition
is not feasible under certain other described circumstances, then the money
shall be delivered by the armored car representative to the most accessible
and operable commercial bank to be held in custody by such bank as agent for
this bank, pending further instructions from this bank, its “ Cash Agent bank,”
another Federal Reserve bank, or the Board of Governors of the Federal
Reserve System. Commercial banks in the Eleventh Federal Reserve District
are authorized so to act as this bank’s agent under the above circumstances.
This bank will reimburse such bank for all expenses properly incurred by it
as such agent and will indemnify it against all hazards except loss due to the
agent’s failure to maintain its customary security measures in the protection
o f the money insofar as possible under the conditions then existing.
RIGHT TO AMEND

The right is reserved by this bank to withdraw, add to, or amend at any
time any of the terms and conditions o f this Bulletin.

Yours very truly,
Watrous H. Irons
President

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SCHEDULE A
CASH AREA NO. 1

A G E N T N O . 11 — F IR S T N A T IO N A L B A N K
OF DO N A A N A COUNTY
L A S C R U C E S, N E W M E X IC O
Counties to be served by above A gen t:
Arizona

Cochise
Graham

Greenlee
Pima

Catron
Dona Ana
Grant

Hidalgo
Luna
Sierra

Santa Cruz

New Mexico

Socorro

CASH AREA NO. 2

A G E N T N O. 2 1 — A M E R IC A N B A N K O F C A R L S B A D
C A R L S B A D , N E W M E X IC O
Counties to be served by above A gen t:
New Mexico

De Baca
Guadalupe

Lincoln
Q uay

Torrance

A G E N T N O. 22 — C A R L S B A D N A T IO N A L B A N K
C A R L S B A D , N E W M E X IC O
Counties to be served by above A gen t:
New Mexico

Chaves
Curry

Eddy
Lea

Otero
Roosevelt

CASH AREA NO. 3

A G E N T N O. 31 — F IR S T N A T IO N A L B A N K
BORGER, TE X A S
Counties to be served by above A gen t:
Texas

Armstrong
Briscoe
Carson
Castro
Childress
Collingsworth
Dallam
Deaf Smith
Donley

Gray
Hall
Hansford
Hartley
Hemphill
Hutchinson
Lipscomb
Moore
Ochiltree

Oldham
Parmer
Potter
Randall
Roberts
Sherman
Swisher
Wheeler

— 6—
CASH AREA NO. 4

AGENT NO. 41 — FIRST NATIONAL BANK
MIDLAND, TEXAS
Counties to be served by above A g e n t:
Texas

Andrews
Brewster
Crane
Culberson
Ector
El Paso
Glasscock

Howard
Hudspeth
Jeff Davis
Loving
Martin
Midland
Mitchell

Pecos
Presidio
Reagan
Reeves
Upton
W ard
Winkler

A G E N T NO. 4 2 — M ID L A N D N A T IO N A L B A N K
M ID L A N D , T E X A S
Counties to be served by above Agent
Texas

Bailey
Baylor
Borden
Cochran
Cottle
Crosby
Dawson
Dickens
Floyd

Foard
Gaines
Garza
Hale
Hardeman
Hockley
Kent
King
K nox

Lamb
Lubbock
Lynn
Motley
Scurry
Terry
W ilbarger
Yoakum

CASH AREA NO. 5

A G E N T N O. 51 — F IR S T N A T IO N A L B A N K
SAN ANGELO, TE X A S
Counties to be served by above A g e n t:
Texas

Bandera
Blanco
Caldwell
Comal
Crockett
Dimmit
Edwards
Frio
Gillespie

Gonzales
Guadalupe
Hays
Kendall
Kerr
Kimble
Kinney
Maverick
Medina

Menard
Real
Schleicher
Sutton
Terrell
Uvalde
Val Verde
Zavala

7
CASH AREA NO. 5 (Cont’d)

A G E N T N O. 52 — S A N A N G E L O N A T IO N A L B A N K
SAN A N G E L O , T E X A S
Counties to be served by above A g e n t:
Texas

Brown
Burnet
Callahan
Coke
Coleman
Comanche
Concho
Eastland
Fisher

Haskell
Irion
Jones
Lampasas
Llano
Mason
McCulloch
Mills
Nolan

Runnels
San Saba
Shackelford
Sterling
Stonewall
Taylor
Throckmorton
Tom Green
Travis

CASH AREA NO. 6

A G E N T NO. 61 — C IT IZ E N S N A T IO N A L B A N K
D E N IS O N , T E X A S
Counties to be served by above A g e n t:
Oklahoma

Atoka
Bryan
Choctaw

Coal
Johnston
Marshall

McCurtain
Pushmataha

Texas

Grayson
Montague

Clay
Cooke

Wichita

A G E N T N O. 62 — S T A T E N A T IO N A L B A N K
D E N IS O N , T E X A S
Counties to be served by above A g e n t:
Texas

Archer
Collin
Dallas
Denton

Jack
Palo Pinto
Parker
Rockwall

Stephens
Tarrant
W ise
Young

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CASH AREA NO. 7

AGENT NO. 71— FIRST NATIONAL BANK
HARLINGEN, TEXAS
Counties to be served by above A g e n t:
Texas

Atascosa
Bexar
Brooks
Duval
Hidalgo

Jim H ogg
Jim W ells
La Salle
Live Oak
McMullen

Starr
W ebb
W ilson
Zapata

A G E N T N O. 72 — P A N A M E R IC A N S T A T E B A N K
B R O W N S V IL L E , T E X A S
Counties to be served by above A g e n t:
Texas

Aransas
Bee
Calhoun
Cameron
DeW itt

Goliad
Karnes
Kenedy
Kleberg
Nueces

R efugio
San Patricio
Victoria
W illacy

CASH AREA NO. 8

A G E N T N O. 81 — F IR S T N A T IO N A L B A N K
C O R S IC A N A , T E X A S
Counties to be served by above Agent
Texas

Bosque
Coryell
Ellis
Erath

Hamilton
Hill
H ood
Johnson

McLennan
Navarro
Somervell

A G E N T N O . 82 — S T A T E N A T IO N A L B A N K
C O R S IC A N A , T E X A S
Counties to be served by above Agent
Texas

Bell
Falls
Freestone

Leon
Limestone
Milam

Robertson
Williamson

— 9—
CASH AREA NO. 9

A G E N T N O . 91 — C IT IZ E N S F IR S T N A T IO N A L B A N K
TYLER, TEXAS
Counties to be served by above Agent :
Texas

Delta
Fannin
Gregg
Henderson

Hopkins
Hunt
Kaufman
Lamar

Rains
Smith
Van Zandt
W ood

A G E N T ' N O. 92 — P E O P L E S N A T IO N A L B A N K
TYLER, TEXAS
Counties to be served by above Agent
Texas

Bowie
Camp
Cass
Franklin

Harrison
Marion
Morris
Red River

Titus
Upshur

A G E N T NO. 93 — T Y L E R B A N K A N D T R U S T C O M P A N Y
TYLER, TEXAS
Counties to be served by above Agent
Texas

Anderson
Cherokee
Nacogdoches

Panola
Rusk
Sabine

San Augustine
Shelby

CASH AREA NO. 10

A G E N T N O. 101 — F IR S T N A T IO N A L B A N K
H U N T S V IL L E , T E X A S
Counties to be served by above A g e n t:
Texas

Austin
Bastrop
Brazos
Burleson
Colorado

Fayette
Grimes
Lavaca
Lee
Madison

Montgomery
W alker
W aller
Washington

- 1 0 -

CASH AREA NO. 10 (Corn’d)

AGENT NO. 102 — HUNTSVILLE NATIONAL BANK
HUNTSVILLE, TEXAS
Counties to be served by above A g e n t:
Texas

Brazoria
Chambers
Fort Bend

Galveston
Harris
Jackson

Matagorda
W harton

CASH AREA NO. 11

A G E N T N O. I l l — L U F K IN N A T IO N A L B A N K
L U F K IN , T E X A S
Counties to be served by above A g e n t:
Texas

Angelina
Hardin
Houston
Jasper

Jefferson
Liberty
Newton
Orange

Polk
San Jacinto
Trinity
Tyler

CASH AREA NO. 12

A G E N T N O. 121 — O U A C H IT A N A T IO N A L B A N K
M O N R O E , L O U IS IA N A
Parishes to be served by above A g e n t:
Louisiana

Bienville
Bossier
Caddo
Claiborne
East Carroll

Jackson
Lincoln
Madison
Morehouse
Ouachita

Richland
Union
Webster
W est Carroll

A G E N T NO. 122 — C E N T R A L S A V IN G S B A N K
AND TRU ST COM PANY
M O N R O E , L O U IS IA N A
Parishes to be served by above A g e n t:
Louisiana

Caldwell
Catahoula
Concordia
De Soto

Franklin
Grant
La Salle
Natchitoches

Red River
Sabine
Tensas
W inn

FEDERAL RESERVE BANK
OF DALLAS

EMERGENCY BULLETIN NO. 12A
SEPTEMBER 3, 1963

(Effective only upon notice
during an emergency)

ADVANCES AND DISCOUNTS
DURING A NATIONAL EMERGENCY
T o A ll Banks in the
Eleventh Federal Reserve District:
EXTENSIONS OF CREDIT DURING A NATIONAL EMERGENCY

1. During a period o f national emergency resulting from enemy attack,
the primary objective o f the Federal Reserve System in the immediate post
attack period will be to provide liquidity for financing essential activities and to
provide confidence in the continued operation of the monetary and banking
system.
2. In furtherance o f this objective, the Federal Reserve Bank o f Dallas
will make credit available to member and nonmember banks and, under certain
circumstances, to individuals, partnerships and corporations when credit for
essential purposes is not otherwise available on reasonable terms.
RELOCATION OFFICE

3. In the event it becomes necessary for this bank to suspend operations
at our regular offices in Dallas, El Paso, Houston and San Antonio, all com
munications concerning extensions of credit by this bank should be sent to our
Relocation Office in Denton, Texas.
RATES

4. The discount rate charged banks in the immediate postattack period
would be the same rate that prevailed preattack. Credit extended to nonbank
customers would be at rates deemed appropriate under the circumstances by
the Federal Reserve Bank of Dallas.
ADVANCES TO MEMBER AND NONMEMBER BANKS

5. The conditions under which the Federal Reserve Bank o f Dallas cus
tomarily makes advances and discounts are set forth in Regulation A issued
by the Board o f Governors of the Federal Reserve System and in this bank’s
Bulletin No. 12. In time o f national emergency, however, it may be necessary
to modify the provisions of these basic documents in accordance with emer
gency regulations of the Secretary o f the Treasury or the Board o f Governors
o f the Federal Reserve System. Unless and until advised o f a change, banks
should conform as closely as possible to Regulation A and Bulletin No. 12 in
applying for credit. Federal Reserve banks are authorized to restrict credit to
any bank which willfully violates the Emergency Banking Regulations o f the
Secretary o f the Treasury.
6. In the event assets being pledged are inaccessible by reason o f enemy
attack, this bank will rely upon the borrower’s statement that it owns such

— 2 —

identified unencumbered assets acceptable for discount or as security for ad
vances, that such assets are physically unavailable as a result of the attack,
and that such assets will be held in trust for this bank pending their physical
delivery.
7. Proceeds of the advance will be disbursed in one o f the following w ays:
(1 ) By credit to the reserve account of the member bank.
(2 ) By credit to the account o f a correspondent member bank in the
case o f a borrowing nonmember bank.
(3 ) By a cashier’s check of this bank.
8. Repayments o f advances shall be made in one o f the following ways:
(1 ) By charge to the reserve account o f a borrowing member bank.
(2 ) By charge to the account o f a correspondent member bank in the
case o f a nonmember borrowing bank.
(3 ) In other funds or exchange acceptable to this bank.
ADVANCES TO INDIVIDUALS, PARTNERSHIPS AND CORPORATIONS,
SECURED BY DIRECT OBLIGATIONS OF UNITED STATES
OR OTHER ACCEPTABLE ASSETS

9. Such advances in a postattack period would be made in instances in
which credit for essential purposes cannot be obtained by an applicant from
regular banking sources on reasonable terms and provided that all credit ex
tended through advances made pursuant hereto will be used only for purposes
that are in conformity with provisions of Emergency Banking Regulations
o f the Secretary of the Treasury. Provisions as to form of note, pledging o f
collateral security, maturities, etc., will be appropriately determined at the time
o f application for such borrowing according to the circumstances of each
individual case.
FORMS FOR ADVANCES TO BANKS

10. Upon written request this bank will furnish to any member or non
member bank a supply o f the note and application forms for advances. This
bank may require such forms to be used by banking institutions requesting an
advance from it. In addition, this bank will, upon written request, send to any
nonmember bank a copy o f Regulation A o f the Board o f Governors o f the
Federal Reserve System and o f this bank’s Bulletin No. 12.
RIGHT TO AMEND

11. The right is reserved to withdraw, add to, or amend, at any time, any
o f the provisions o f this Emergency Bulletin.
Yours very truly,
Watrous H . Irons
President

BOARD OF GOVERNORS
OF T H E

FE D E R A L R ESERVE SYSTEM

E M E R G E N C Y R E G U L A T IO N

NO. 1

Operations of Federal Reserve Banks

Section

1. Authority

Section

2. Time of Taking Effect

Section

3. Continuance of Operations

Section

4. Curtailment of Operations

Section

5. Change of Quarters

Section

6. Performance of Functions of One Federal Reserve Bank
by Another

Section

7. Distribution of Currency and Coin

Section

8. Collection of Cash Items and Noncash Items

Section

9. Discounts and Advances

Section 10. Purchases, Sales, and Pledges
Section 11. Reserves
Section 12. Fiscal Agency Operations
Section 13. Temporary Appointments
Section 14. Authorization to Directors, Officers, and Employees

BOARD OF GOVERNORS OF TH E FEDERAL RESERVE SYSTEM
EMERGENCY REGULATION NO. 1
Operations o f Federal Reserve Banks
Section 1. Authority. This Regulation is issued pursuant to authority
conferred upon the Board of Governors of the Federal Reserve System by the
Federal Reserve A ct (38 Stat. 251), as amended, by Section 5 (b ) o f the Trad
ing with the Enemy A ct of October 6, 1917, (40 Stat. 415), as amended, by
Delegation Order, January 10, 1961, from the Secretary o f the Treasury to the
Board, and by Emergency Banking Regulation No. 1, January 10, 1961, issued
by the Department o f the Treasury.
Section 2. Time o f Taking Effect. This Regulation shall be effective
immediately after an attack on the United States.
Section 3. Continuance of 0 perations. Except as provided in Section 4,
all Federal Reserve Banks and branches, without regard to whether or not the
head office or any other branch or branches are functioning, shall remain open
and continue their operations and functions and permit the transaction of
business during their regularly established hours.
Section 4. Curtailment o f 0 perations. A ny Federal Reserve Bank or
branch may temporarily curtail, limit, suspend, or delegate any or all o f its
operations and functions to such extent and for such period as it may deem
necessary if located in an area which is unsafe because o f enemy or defensive
action, or if essential personnel or physical facilities become unavailable, or if
the effective performance of its operations and functions has been impaired as
a result of an attack; provided, that the Board o f Governors shall be notified
as soon as practicable o f any action taken pursuant to this Section; provided
further, that operations shall be resumed when the cause o f curtailment, sus
pension, or delegation has been remedied, removed, or dissipated.
Section 5. Change of Quarters. In the event that the main office or any
branch o f any Federal Reserve Bank becomes wholly or partially unusable as
a result of an attack, the Federal Reserve Bank or branch so affected is author
ized to, and, if possible, shall establish temporary substitute quarters, offices,
or facilities at any place within its own or any other district if the establishment
o f such quarters, offices, or facilities will, in the judgment o f such Federal
Reserve Bank or branch, facilitate the transaction or resumption o f operations;
provided, that the Board o f Governors shall be notified as soon as practicable o f
any action taken pursuant to this Section; provided further, that the use o f
substitute quarters, offices, and facilities shall be terminated as soon as
practicable.
Section 6. Performance of Functions o f One Federal Reserve Bank by
Another. A ny Federal Reserve Bank or branch, either as agent or in its own
right, is authorized to perform temporarily any or all operations and functions
of any other Federal Reserve Bank or branch which is unable to perform its
operations and functions effectively as a result o f an attack; provided, that the

— 2—
Board o f Governors shall be notified as soon as practicable of any action taken
pursuant to this Section; provided further, that such temporary performance
o f operations and functions shall cease when the cause o f disability has been
removed.
Section 7. Distribution of Currency and Coin. Each Federal Reserve
Bank is authorized and directed to impose such restrictions and to take such
measures as it may deem necessary to assure the effective and equitable use in
the public interest of all available supplies o f currency and coin. Each Federal
Reserve Bank is authorized to designate selected commercial banks to act as
emergency Cash Agents for the distribution of currency and coin.
Section 8. Collection o f Cash Items and Noncash Items, (a ) Each Fed
eral Reserve Bank is authorized and directed to prescribe such emergency rules
and instructions as it may deem necessary to facilitate the receipt and collection
o f checks, other cash items, and noncash items, including those which cannot
be presented due to transportation difficulties and those drawn on destroyed or
inoperable banks. Each Federal Reserve Bank is authorized to designate
selected commercial banks, clearing house associations, or other facilities to
act as emergency Check Agents for the receipt and collection o f checks, other
cash items, and noncash items.
(b )
The provisions o f the Board’s Regulations J and G shall continue to
apply to the receipt and collection of checks, other cash items, and noncash
items received by or on behalf of any Federal Reserve Bank, except to the
extent that any Federal Reserve Bank by such emergency rules and instruc
tions may otherwise provide as necessary or desirable in the circumstances
then existing.
Section 9. Discounts and Advances, (a ) The provisions of the Board’s
Regulation A , Advances and Discounts by Federal Reserve Banks, shall con
tinue to apply to the making o f discounts or advances immediately following
an attack; except to the extent and for the period that the results o f an attack
make necessary or desirable the use o f the emergency measures described in
this Section for the continuance of banking operations in the national interest.
(b ) Federal Reserve Banks will make credit available to both member
and nonmember banks; provided, that Federal Reserve Banks are authorized
to restrict credit to any bank which willfully violates the Emergency Banking
Regulations o f the Secretary o f the Treasury. In making credit available as
authorized in this Regulation, considerations of formality of contract, security,
and maturity o f advances should be regarded as secondary to the problem o f
meeting the obvious essential needs of banks operating in conformance with
the Treasury’s Emergency Banking Regulation. Federal Reserve Banks are
authorized to make credit available to individuals, partnerships, and corpora
tions when credit for essential purposes is not otherwise available on reason
able terms.
( c ) Federal Reserve Banks are authorized to make advances to any
member or nonmember bank and to nonbank customers for such period or
periods as the Reserve Bank may deem appropriate, (1 ) on the secured or

— 3—
unsecured promissory note o f the borrower, or (2 ) in accordance with
general terms (other than amount) of lines of credit established with
borrower either preattack or postattack, or (3 ) by honoring overdrafts on
reserve accounts o f member banks, or (4 ) by honoring overdrafts on
clearing accounts o f nonmember banks.

the
the
the
the

(d ) Federal Reserve Banks are authorized to rely on the borrower’s state
ment that it owns identified unencumbered assets acceptable for discount or as
security for advances, that such assets are physically unavailable as a result o f
an attack, and that the borrower will hold such assets in trust for the Reserve
Bank pending the physical delivery o f such assets to the Reserve Bank.
(e ) Credit extended by Reserve Banks to banks in the immediate post
attack period should carry the same discount rate that prevailed preattack;
credit extended to nonbank customers should be at rates deemed appropriate
under the circumstances by Reserve Banks.
Section 10. Purchases, Sales, and Pledges, (a ) Federal Reserve Banks
are authorized, subject to the provisions o f Section 12A o f the Federal Reserve
Act, and the provisions o f Resolution o f Federal Open Market Committee
Authorizing Certain Actions by Federal Reserve Banks during an Emergency,
(1 ) to purchase, at prices slightly below those on comparable maturities o f
securities just prior to the attack, and to sell U. S. Government securities on
their own account and to make such transactions with bank and nonbank cus
tomers, (2 ) to buy and sell due bills for direct obligations o f the United States,
and (3 ) to pledge such due bills or notes secured by such due bills as collateral
for Federal Reserve notes.
(b ) Federal Reserve Banks are authorized to rely on the seller’s or
pledgor’s statement that it owns identified unencumbered assets which are the
subject of purchase, repurchase, sale, or pledge, that such assets are physically
unavailable as a result of an attack, and that the seller or pledgor will hold
such assets in trust for the Reserve Bank pending the physical delivery o f such
assets to the Reserve Bank.
Section 11. Reserves, (a ) Each Federal Reserve Bank is authorized to
reduce or disregard its gold certificate reserve requirement when necessary due
to the extension o f Federal Reserve credit pursuant to the provisions of this
Regulation. The Board of Governors shall be notified as soon as practicable
o f a reduction o f reserve ratio below 25 per cent.
(b ) The Federal Reserve Banks are authorized (1 ) to raise or lower
reserve requirements for member banks without regard for provisions o f exist
ing statutes and regulations, and requirements may be varied according to
regions or types o f banks in the light of changes in reserve balances; (2 ) to
require reports from nonmember banks for the purpose o f determining whether
conditions warrant the extension of reserve requirements to nonmember banks;
(3 ) to extend reserve requirements when conditions warrant to nonmember
banks; and (4 ) to waive penalties on deficient reserves; provided, that author
ity under Section 11 shall terminate as soon as postattack conditions permit
the Board to resume such authority.

— 4—
Section 12. Fiscal Agency Operations. Each Federal Reserve Bank is
authorized to take such action as fiscal agent of the United States as authorized
by the Secretary o f the Treasury, and to take such action as fiscal agent o f any
other agency as may be authorized by such agency.
Section 13. Temporary Appointments, (a ) The president or officer in
charge o f any Federal Reserve Bank is authorized to make temporary appoint
ments o f officers without regard to the standing policy on outside business
connections, when necessary as a result o f an attack, and to pay them salaries
consistent with the established salary scale of such Reserve Bank.
(b ) The Federal Reserve Agent or an Assistant Federal Reserve Agent
is authorized to make temporary appointments of Acting Assistant Federal
Reserve Agents when necessary as a result o f an attack. In the event neither
the Federal Reserve Agent nor an Assistant Federal Reserve Agent is avail
able, the board o f directors o f the Reserve Bank is authorized to make such
appointments, and, if the board is unavailable, the president or officer in charge
o f the Reserve Bank is authorized to make such appointments. Each Reserve
Bank is authorized to pay such Acting Assistant Federal Reserve Agents
salaries consistent with the salary scale for the Assistant Federal Reserve Agent
and Alternate Assistant Federal Reserve Agent at that Reserve Bank.
Section 14. Authorisation to Directors, Officers, and Employees, (a ) Any
action authorized or required to be taken by a Federal Reserve Bank or other
banking institution or its management pursuant to this Regulation may, in the
absence o f persons authorized by delegation or otherwise to take such action,
be taken by any director, officer, or employee o f such institution at the time
conducting that part o f the affairs o f the institution to which such action relates.
(b ) Notwithstanding any other provision of law, no banking institution,
nor any director, officer, or employee thereof, nor any employee of the Board
o f Governors of the Federal Reserve System shall be subject to any liability
on account of any action taken or omitted to be taken in good faith pursuant to
this Regulation; provided, that this exculpation shall not apply to any liability
on account of any contractual obligation undertaken pursuant to any provision
o f this Regulation.
BOARD OF GOVERN O RS OF TH E FED ERAL RESERVE SYSTEM

(Signed) Merritt Sherman
Secretary
Washington, D. C.
January 15, 1962.

BOARD OF GOVERNORS OF TH E FEDERAL RESERVE SYSTEM
EMERGENCY REGULATION NO. 2
Use o f Secured Notes to Transfer

Credits

Section 1. Authority. This Regulation is issued pursuant to authority con
ferred upon the Board o f Governors of the Federal Reserve System by the
Federal Reserve A ct (38 Stat. 2 51), as amended, by Section 5 (b ) o f the
Trading with the Enemy Act of October 6, 1917, (40 Stat. 415), as amended,
by Delegation Order, January 10, 1961, from the Secretary o f the Treasury
to the Board, and by Emergency Banking Regulation No. 1, January 10, 1961,
issued by the Department of the Treasury.
Section 2. Time o f Taking Effect. This Regulation shall be effective
immediately after an attack on the United States.
Section 3. Issuance o f Promissory Notes, (a ) Whenever the aggregate
amount due to any banking institution from other banking institutions (includ
ing Federal Reserve Banks) has been seriously reduced as a result o f abnormal
withdrawals or transfers occasioned by circumstances resulting from an attack
and such institution is unable to obtain a loan or to sell securities on reasonable
terms, and whenever the management o f such institution concludes that, as a
result of the foregoing, it will be unable to meet foreseeable demands for
withdrawals, transfers, or other payments not involving disbursement of cash,
such institution is hereby authorized to effect such payments to banking institu
tions by means of its demand promissory notes, which shall be negotiable, pay
able only to the order o f a Federal Reserve Bank or other banking institution
and secured by an equal par value amount of direct obligations o f the United
States owned by such institution and not otherwise pledged.
(b ) The notes described in paragraph (a ) shall not bear interest, except
that during the time such notes are held by a Federal Reserve Bank, they shall
bear interest at a rate o f one per cent per annum above the Federal Reserve
Bank rate currently applicable to discounts o f ninety-day commercial paper
for member banks.
( c ) The collateral security described in paragraph (a ) shall be held in
trust as security for the payment of said notes whether or not the banking
institution issuing said notes has physical possession of such securing obliga
tions. Such notes shall contain the following notation on their face —
“ Issued pursuant to Emergency Regulation No. 2 o f the Board of
Governors o f the Federal Reserve System, and secured by $ ____ par
value o f direct obligations of the United States owned by this banking
institution and held in trust as security for payment o f the amount
due hereon.”
(The dollar amount to be inserted will correspond to the actual dollar amount
shown to be due on the face o f the note.)

(d )
The issuance of said notes containing the notation described in para
graph (c ) will, as an incident thereto, automatically effect a declaration o f
trust o f an equivalent amount o f direct obligations o f the United States
owned by the issuing banking institution and not otherwise pledged, and the
holder o f said notes will be entitled to a lien thereon and preferential payment
out o f the proceeds thereof notwithstanding any other provisions o f law, except
that such lien and preference shall be subordinate to the rights o f a bona fide
purchaser or of any holder in due course of such direct obligations of the
United States.
Section 4. Receipt o f Notes as Payment or for Credit, (a ) Notes issued
pursuant to this Regulation shall be accepted by all banking institutions as pay
ment by the issuers and, when offered by an issuing depositor, shall be honored
by any such institution by credit at par to the account o f the depositor.
(b ) Notes issued pursuant to this Regulation and transferred by a bank
ing institution to a Federal Reserve Bank shall be deemed to have been en
dorsed without recourse by such banking institution, and such notes shall be
accepted by a Federal Reserve Bank as payment by another banking institution
and, when deposited with any Federal Reserve Bank by a banking institution,
immediate credit at par shall be given therefor to the account o f such depositor.
Section 5. Segregation o f Securing Obligations, (a ) If the issuing bank
ing institution has physical possession o f the United States obligations securing
the notes issued, such obligations shall be segregated from other securities in
its assets and earmarked, and proper records shall be maintained as to what
notes are secured thereby.
(b ) I f the United States obligations are held by another banking institu
tion for safekeeping, the same records shall be maintained by the issuing
banking institution and the safekeeping institution shall be notified as soon as
possible as to what United States obligations to segregate from other securities
that may be held for the issuing bank. The safekeeping institution shall segre
gate such designated United States obligations and maintain appropriate
records thereof.
(c ) In the event that obligations securing notes issued by a banking insti
tution pursuant to this Regulation are physically inaccessible because o f cir
cumstances occasioned by an attack, such obligations shall be segregated as
required by this Section as soon as practicable.
Section 6. Records to be Kept. A detailed record o f notes so drawn shall
be maintained. The following general ledger entries are required:
(a ) Credit special liability account “ Notes secured by par value amount
o f direct obligations o f the United States” with amount issued each day. O ff
setting entries normally will be charged against depositors’ accounts.
(b ) Credit United States obligations with amount o f notes issued each
day.
( c ) Debit special general ledger asset account “ United States obligations
pledged against own notes” with amount of notes issued each day.

— 3—
Section 7. Payment. W hen the notes are presented by a Federal Reserve
Bank or other banking institution to the issuer for payment, they shall be paid
by the issuer if it has in the meantime been able to borrow funds or has been
able to liquidate assets in an amount sufficient to provide the necessary funds.
I f this has not been accomplished, payment o f the notes will be effected at the
earliest date such action becomes possible.
Section 8. Limitation on Use o f Procedure. The procedure herein author
ized may be placed in effect by a banking institution only if its management
concludes that there is a definite need for such procedure and shall be dis
continued as soon as funds have become available.
Section 9. Limitation on Aggregate Amount. No banking institution shall
issue notes under this authorization in an aggregate amount exceeding the par
value o f direct obligations o f the United States owned by it and otherwise
unpledged.
BOARD O F GOVERN O RS OF T H E FE D E R A L R E SER V E SYSTEM

(Signed) Merritt Sherman
Secretary
Washington, D. C.
January 15, 1962.

O P E R A T IN G ST A T U S O P C O M M E R C IA L B A N K
FOLLOWING ENEMY ATTACK, TO BE PREPARED IMMEDIATELY
AND SENT TO RELOCATION OFFICE, FEDERAL RESERVE BANK
OF DALLAS, DENTON, TEXAS 76203, BY BEST MEANS AVAILABLE.
(T o be reported by each bank in District,
regardless of whether member or nonmember)
Relocation Office
Federal Reserve Bank of Dallas
Denton, Texas 76203

_____________________________
(Date)

Gentlemen:
The following data reflect our estimate of the damage to our city and the
operating capability of our bank:
A. Assessment of physical damage to city
1. None
Moderate
Heavy
2.

Our city

3.
4.

Estimated number of persons killed_____________ injured_____________
Communications (Indicate whether or not adequate for essential opera
tions at your bank.)
a. Mail
b. Telephone
c. Telegraph
Utilities (including transportation)
Principal industries (by product and normal number of employees)*

5.
6.
B.

nQt subject to fallout.

Operating data pertaining to bank

W e 'have not
Address of relocation office___________________________________________ ..

We ^

The names of our surviving senior personnel are:*

Estimated amount of currency that we now have and is accessible to

Estimated amount of currency that we have but is not accessible to

us $-------------------------- .
Estimated amounts of checks on hand are as follows:

not anticipate relocating in the immediate future.
not capable of handling essential banking operations.
n0£ consider our staff to be adequate.

us $__________________

Damaged checks $_________________

Undamaged checks $_________________

Other Comments*

Telephone number____________________

______________________________________ .
(Name of Bank)

(Address)

By.
(T itle )

*Reverse may be used if additional space is needed.

EO -1X

O P E R A T IN G S T A T U S O P C O M M E R C IA L B A N K
FOLLOWING ENEMY ATTACK, TO BE PREPARED IMMEDIATELY
AND SENT TO RELOCATION OFFICE, FEDERAL RESERVE BANK
OF DALLAS, DENTON, TEXAS 76203, BY BEST MEANS AVAILABLE.
(T o be reported by each bank in District,
regardless of whether member or nonmember)
Relocation O
f
f
Federal Reserve Bank of Dallas
Denton, Texas 76203

_____________________________
(D a te)

Gentlemen:
The following data reflect our estimate of the damage to our city and the
operating capability of our bank:
A. Assessment of physical damage to city
1. None
Moderate
Heavy
2.

Our city j®

3.
4.

5.
6.
B.

t subject to fallout.

Operating data pertaining to bank
'■ W e have not relo“ ted2. Address of relocation office_____________________________________ _______.
3.

nQt anticipate relocating in the immediate future.

We ^

not capable of handling essential banking operations.

The names of our surviving senior personnel are:*

consider our staff to be adequate.

Estimated amount of currency that we now have and is accessible to

Estimated amount of currency that we have but is not accessible to

Estimated amounts of checks on hand are as follows:
a. Damaged checks $______ __________

us $__________________
us $_________________ _

b.
C.

Undamaged checks $__ __ _________ _

Other Comments*

Telephone number____________________ ____________________________________________
(Name of Bank)

(Address)

By.
(Title)
*Reverse may be used if additional space is needed.

EO-1X

Full text of District Notices (Federal Reserve Bank of Dallas) : Emergency Bulletins of the Federal Reserve Bank, Pages to be Inserted Into the Red Loose-Leaf Binder

FRASER