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Federal reserve



Dallas, Texas, June 30, 1952


To A ll Persons Engaged in the Business of Extending Real Estate Credit in
the Eleventh Federal R eserve D istrict:

There is quoted below a statement issued June 30, 1952,
jointly by the Board of Governors of the Federal Reserve System
and the Housing and Home Finance Administrator.
“ The Board of Governors of the Federal Reserve
System and the Administrator of the Housing and Home
Finance Agency announced today that there is no present
change in Regulation X and companion real estate credit
regulations resulting from passage of the Defense Pro­
duction Act Amendments of 1952.
“ The Board and the Administrator pointed out the
statement of the conference managers on the bill that the
amendments affecting Regulation X are prospective and
that procedures looking to the possible subsequent relaxa­
tion of the regulations do not begin to operate until the
effective date of the Act, July 1, 1952.”
Any information which may be desired concerning the Regu­
lation will be gladly furnished by this bank and its branches in
El Paso, Houston and San Antonio, Texas.
Yours very truly,
R . R. G I L B E R T

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