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FEDERAL RESERVE BANK O F NEW YORK r Circular N o. 3 8 3 9 "I A pril 8, 1952 J L CONSUMER CREDIT Amendment No. 8 to Regulation W of the Board of Governors of the Federal Reserve System, Effective April 8, 1952 To all Persons Concerned with Regulation W in the Second Federal Reserve D istrict: The Board of Governors of the Federal Reserve System has adopted Amendment No. 8 to Regulation W , effective April 8, 1952. Following is the text of the Board’s statement released today: The Board of Governors has amended Regulation W effective immedi ately to exempt from down payment requirements all regulated articles costing less than $100. The exemption previously applied to articles costing less than $50. This change will simplify administration of the regulation without substantially affecting the volume of consumer instalment credit out standing. A copy of Amendment No. 8 to Regulation W is enclosed; addi tional copies may be obtained upon request. A llan S pboul, President. CONSUMER CREDIT AM ENDM ENT NO. 8 TO REGULATION W ISSUED B Y T H E BOARD OF GOVERNORS OF T H E FEDERAL RESERVE SYSTEM Regulation W is hereby amended in the follow in g respect, effective A p ril 8, 1952: 1. B y changing “ $50” to “ $100” in the introductory sentence o f P art 1 o f the Supplement. P R IN T E D IN NEW YORK
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