Full text of Federal Reserve Bank of New York Circulars : 1419. Correspondent Relationships Between Member Banks and Dealers in Securities

View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL RESERVE BANK
OF NEW YORK
•Circular No. 1419, September 19, 1934"]
' 'meriting Circular Nc
Supplementing
No. 1403
dated July 23, 1934

CORRESPONDENT RELATIONSHIPS BETWEEN MEMBER BANKS
AND DEALERS IN SECURITIES

Information to be Submitted by Member Banks Operating Under Blanket Permit
(SECTION 32 OF THE BANKING ACT OF 1933)

To all Member Banks in the
Second Federal Reserve District:

My circular No. 1403, dated July 23,1934, referred to the revocable permit granted by the
Federal Reserve Board under Section 32 of the Banking Act of 1933 for a period until
December 1, 1934, for correspondent relationships between any member bank or banks and
any dealer or dealers in securities in connection with underwriting and dealing in the types of
securities mentioned in the permit, and requested each bank availing itself of the privilege
granted by such permit to submit to me promptly information describing the nature of the relationship and certain detailed information regarding each syndicate operation in which the
member bank participated. To assist in reporting such information each such member bank is
requested to use the attached form (Rep. 29). The information to be given in this form, with a
few additional details, is substantially the same as that requested in my Circular No. 1403.
As stated in Circular No. 1403, the Federal Reserve Board in its letter of July 17,1934, also
requested me to obtain such additional information from a member bank as I deem advisable,
if in any case I feel that the information submitted is not sufficient to enable me to form a conclusion as to whether or not the permit in the particular case is in the public interest.
Additional copies of form Rep. 29 will be furnished upon request.

J. H. CASE,

Federal Reserve Agent.

REP. 29
Sept. 1934.

CORRESPONDENT RELATIONSHIPS BETWEEN MEMBER BANKS
AND DEALERS IN SECURITIES
Information to be Submitted to Federal Reserve Bank of New York by Member Banks Operating
Under Blanket Permit
(SECTION 32 OF THE BANKING ACT OF

1933)

1. Description of issue, including name of the issuer, nature of the obligations (whether bonds, notes, or
other obligations), amount of the issue, maturity, and rate of interest

2. (a) Names of members of the syndicate or group, including yourselves, which participated in the
transaction, and amount of each member's original participation

(b) Name of syndicate manager

3. (a) Amount of the issue actually withdrawn from the account by the reporting member bank

(b) Amount of the issue apportioned to reporting member bank on termination of the account

(d) Total of a, b, and c

4. (a) The amount of the issue sold by the reporting member bank during the term of the account

(b) The amount of the issue retained by the reporting member bank as investment

(d) Total of a. b, and c (Should equal 3d)

5. (a) Purchase price paid to issuer of securities by the buying syndicate or group

(b) Average offering price to public

(Please forward above information as of close of account, as promptly as possible after its termination.)

(Name of Bank)

(Official signature)

(Date)

Full text of Federal Reserve Bank of New York Circulars : 1419. Correspondent Relationships Between Member Banks and Dealers in Securities

FRASER