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FED ERAL RESER VE BANK O F N EW YORK Fiscal Agent o f the United States f Circular No 3 9 3 5 I I January 13,1953 I RESULTS OF BIDDING FOR TREASURY BILLS DATED JANUARY 15, 1953 To all Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve D istrict: A t the time o f printing our Circular No. 3932, dated January 13,1953, announcing an offerin g o f 91-day T reasury bills, to be dated January 22, 1953, the results o f bidding fo r the previous w eek ’ s issue o f 91-day T reasury bills, to be dated January 15,1953, and m aturing A p ril 16,1953, were not available. The results, now available, a re: Total applied fo r .. $2,035,956,000 Total a cce p te d ......... 1,400,121,000 Average price ................. 99.463-f- Range o f accepted competitive bids: H i g h .............................. 99.550 L ow .............................. 99.454 (includes $257,027,000 entered on a non competitive basis and accepted in full at the average price shown below ) Equivalent rate o f discount approx. 2.124% per annum Equivalent rate o f discount approx. 1.780% per annum Equivalent rate o f discount approx. 2.160% per annum (31 percent o f the amount bid for at the low price was accepted) Federal Reserve District Boston ................................................... $ New Y o r k ............................................. Philadelphia ......................................... C lev ela n d ............................................... Richmond ............................................. Atlanta ................................................. Chicago ................................................. St. L o u i s ............................................... Minneapolis ......................................... Kansas City ......................................... Dallas ................................................... San Francisco .................................... Total ............................................. Total Applied fo r ,15,005,000 $ 1,386,028,000 32,924,000 56,398,000 27,941,000 40,428.000 206,685,000 54,997,000 14,119,000 71,791.000 62,759,000 66,881,000 $2,035,956,000 Total Accepted 14.805,000 809,343,000 19,474,000 56,398,000 27,441.000 40,428,000 161,685,000 54,997,000 14,119,000 71,791,000 62,759,000 66,881,000 $1,400,121,000 A llan S proul, P resident. FED ERAL RESER VE BANK O F NEW YORK January 15, 1953. To all Member and Nonmember Clearing Banks in the Second Federal Reserve District, and Others Concerned: On the reverse side o f this letter there are set forth lists showing (1 ) the currently effective operating circulars o f this Bank, and the supplements thereto, and (2 ) the currently effective R egulations o f the B oa rd o f G overnors o f the F ederal R eserve System , and the amend ments and supplements thereto. The lists w ill enable you to determine whether you r sets o f those docum ents are com plete. W e shall be pleased to furnish upon request copies o f any which you do not have. W e transm it herewith revised tables o f contents o f the operating circulars and o f the regulations to replace those now in you r binders. A llan S proul, President. (o v e r ) C U R R E N T L Y E F F E C T IV E O P E R A T IN G C IR C U L A R S O F F E D E R A L R E S E R V E B A N K OF N E W Y O R K and R E G U L A T IO N S O F T H E B O A R D O F G O V E R N O R S OF T H E F E D E R A L R E S E R V E S Y S T E M January 15, 1953 Operating Circulars . Operating Circular No. 1 Regulations . January 12,1953 Operating C ircular No. 2 . . October 18,1949 Operating Circular No. 3 . . . May 27,1952 . . . . July 1,1951 . October 29,1952 Operating Circular No. 5 . . . July 1,1951 Operating C ircular No. . . . 1,1951 Operating C ircular No. 4 F irst Supplement . . . 6 . Operating Circular No. 7 Operating C ircular No. . 8 Operating Circular No. 10 F irst Supplement . . . . Operating Circular No. 11 . Operating Circular No. 12 F irst Supplement . . . . Operating Circular No. 13 . J uly . October 1,1952 November 1, .1949 December 8,1947 8,1951 . September 29,1952 Regulation A Regulation B Operating Circular No. 14 Operating Circular No. 15 . . . . June 17,1949 . A p ril 10,1951 . . August 18,1950 . . November 13,1950 . . J uly 1,1952 Operating Circular No. 16 . . . . June 25,1951 Operating Circular No. 17 . . . January 9,1951 Operating Circular No. 18 . . . 2,1951 Operating C ircular No. 19 Operating Circular No. 20 . . . . . March 24,1950 . January 10,1952 . . 15 1930 Regulation C ...................... 31 1946 Regulation D ...................... Supplement . . . . 16 1948 28 1950 Regulation E ...................... 1 Regulation F 5 1951 ...................... Regulation G ...................... Regulation I I ...................... . . September 1940 1 1940 1 1952 Regulation I ..................... 1 1936 Regulation J ...................... 1 1949 Regulation K ...................... Amendment . . . . Amendm ent . . . . Amendm ent . . . . . . . . 29 1930 1 1937 November 1 1943 February 2 1945 . . . ...................... Amendm ent . . . . 1 . July Regulation M ...................... 1 1940 1948 14 1937 Regulation N ...................... 1 1944 Regulation O ...................... 1 1939 1 1936 11 1937 1936 1952 Regulation P ...................... Regulation Q ..................... Supplement . . . . Amendm ent . . . . 1 . Regulation R ...................... Regulation S . J u ly 1937 1942 February 17 1949 2 1 1951 1 20 ...................... Regulation L . . ...................... Amendment . . . . Amendment . . . . Amendment . . . . . . . J u ly 1 4 1936 ...................... 30 1942 Regulation T ...................... Supplement . . . . Amendm ent No. 11 . 2 0 1949 17 1951 . September 3 1951 Regulation U ...................... Supplement . . . . Regulation V ..................... . 20 1949 17 1951 27 1950 F ed eral o f R N eserve ew Y B ank o rk CONTENTS Title o f Operating Circular No. Authorized S ign a tu res............................................................................. 1 Reserves o f Member Banks....................................................................... 2 Paper Currency and C oin......................................................................... 3 Collection o f Cash Item s........................................................................... 4 New Y ork Head Office Time Schedule.................................................... 5 Buffalo Branch Time Schedule.............................................................. 6 Saturday C lo s in g ...................................................................................... 7 Collection o f Noncash Item s..................................................................... 8 Transfers o f F u n d s.................................................................................... 10 Schedule o f Time Limits fo r Telegraphic Transfers of Funds to Other Federal Reserve Banks and Branches............... 11 Advances and Discounts U nder Sections 13, 13a and 1 0 (b ) o f the Federal Reserve A c t ................................................................ 12 Discount Rates............................................................................................ 13 Safekeeping, H andling and Shipment o f Securities.......................... 14 Payment o f Interest on Time and Savings D eposits........................ 15 Federal Reserve Bank Stock ................................................................... 16 Transactions in Marketable Securities o f the United States......... 17 Deposit o f Federal Taxes W ith Depositary Banks.......................... 18 Reports o f Transactions in Foreign Exchange, Transfers of Credit, and the E xport o f Coin and C u rrency............................ 19 United States Savings Bonds, Series E , Instructions to Issuing Agents ...................................................................................... 20 (Rev. 1-15-53) F R e d e r a l o f N eserve ew Y B ank o r k BOARD OF GOVERNORS OF T H E FE D E R A L R E SE R V E SYSTEM RULES Rules o f Organization and Rules o f Procedure REGULATIONS D iscounts f o r and Advances to Member Banks by Federal Reserve B anks....................................................................................... A Open M arket Purchases o f B ills o f Exchange, Trade Acceptances and Bankers’ Acceptances U nder Section 1 4 ........................................................ B A cceptance b y Member Banks o f D rafts or Bills o f E x ch a n ge................ C Reserves o f Member B a n k s.................................................................................. D Purchase o f W a rran ts............................................................................................. E Trust Pow ers o f National B ank s......................................................................... F Collection o f Noncash Item s................................................................................ G Membership o f State Banking Institutions in the Federal Reserve System .................................................................................... H Increase or Decrease o f Capital Stock o f Federal Reserve Banks and Cancelation o f Old and Issue o f New Stock Certificates........................ I Cheek Clearing and C ollection .............................................................................. J Banking C orporations Authorized to do F oreign Banking Business U nder the Term s o f Section 2 5 (a ) o f the Federal Reserve A c t ........... K Interlocking Bank D irectorates U nder the Clayton A c t ............................. L F oreign Branches o f National Banks and o f Corporations Organized U nder the Provisions o f Section 2 5 (a ) o f the Federal Reserve A c t . . M Relations with F oreign Banks and B ankers................................................... N Loans to Executive Officers o f Member B ank s............................................... 0 H oldin g Com pany Affiliates— V otin g P erm its............................................... P Payment o f Interest on D eposits....................................................................... Q Relationships with Dealers in Securities Under Section 32 o f the Bank in g A c t o f 1933.................................................................................................... R Industrial Loans by Federal Reserve B ank s................................................... S Extension and M aintenance o f Credit by Brokers, Dealers, and Members o f National Securities E xchanges................................................................... T Loans by Banks fo r the Purpose o f Purchasing o r C arrying Stocks Registered on a National Securities E xchange.......................................... U Loan Guarantees fo r D efense P rod u ction ........................................................ V (Rev. 1-15-53)
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