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Authorized for public release by the FOMC Secretariat on 5/27/2020 t TELEGRAM LEASED WIRE SERVICE BOARD OF GOVERNORS OF THE FEDERAL RESERVE PTY. CONFIDENTIAL (FR) WASHINGTON TO PRESIDENTS OF ALL FEDERAL RESERVE _M September 29, 1969 BANKS At its September meeting with the Board the Federal Advisory Council expressed willingness to shift its regular meeting dates from the third Tuesday (and preceding Monday) of the months of February, May, September, and November of each year to the first Friday (and preceding Thursday) of those months, beginning in 1970. The Council indicated that it would amend its by-laws to that effect at its November meeting if the Board and the Reserve Banks are agreeable. The Council's position was taken partly in response to the interest expressed by a number of members of the Federal Open Market Committee in recent years in having the dates on which Council meetings are currently held freed for possible meetings of the Committee. Other considerations included (1) the desirability of opening to Council membership the echelon of bankers who have effectively been made ineligible in the past by the fact that their own board meetings conflict with the traditional FAC meeting dates, and (2) the desirability of avoiding conflict with a Monday holiday in February that will arise beginning in 1971 under recent Federal legislation relating to national holidays. Authorized for public release by the FOMC Secretariat on 5/27/2020 TELEGRAM LEASED WIRE SERVICE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM WASHINGTON -2- At its meeting today the Board concurred in the proposed action of the Council. Information about the attitudes of the Reserve Bank Presidents would be desirable fairly quickly, since current plans call for at least preliminary consideration of tentative Federal Open Market Committee meeting schedules at the Committee meeting to be held on October 7, 1969, and prospective Federal Advisory Council meeting dates are, of course, highly relevant to that subject. Accordingly, we would be grateful if you would advise by wire whether you would have any objections to the proposed change in FAC meeting dates. HOLLAND ALB:nlo
@FedFRASER