Full text of District Notices (Federal Reserve Bank of Dallas) : Regulations Issued by the Secretary of the Treasury Under the President's Proclamation Declaring a Bank Holiday - Continued

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FEDERAL RESERVE BANK
OF DALLAS

Dallas, Texas, March 29,1933.

Regulations Issued by the Secretary o f the Treasury under the President’ s
Proclamation Declaring a Bank Holiday — Continued

To the Bank Addressed:
Supplementing our Circulars of March 18, 21 and 23 on the above subject, I quote the
following regulation received from the Secretary of the Treasury:
Regulation 30.
“ Banking institutions which are members of the Federal Reserve System and of
which actual possession and control have been taken (A) by Conservators appointed
pursuant to the Act of March 9, 1933, or (B) by appropriate state officials appointed
pursuant to state law, as permitted by the President’s executive order of March 18,
1933, are permitted to transact such limited banking functions as may be authorized
in accordance with law by the Comptroller of the Currency, in the case of national
banks, or by the appropriate state officials, in the case of state member banks; pro­
vided, however, that no such banking institution shall reopen for the performance of
its usual and normal functions until it shall have received a license from the Secre­
tary of the Treasury.
“ This regulation shall not authorize any transaction with respect to the export or
paying out of gold, or gold certificates, withdrawalj>f currency,!'ox hoarding’ or trans­
actions in foreign exchange prohibited or restrictedTBy the executive order of March
10, 1933.”
Very truly yours,

Governor.

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