Full text of Federal Reserve Bank of New York Circulars : 4037. Payment of Interest on Deposits, Revision of Operating Circular No. 15

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FED ERAL RE SE R V E BANK
OF NEW YORK
T Circular No. 4 0 3 7 T
L October 30, 1953 J

PAYMENT OF INTEREST ON DEPOSITS

Revision of Operating Circular No. 15

To all M em ber B anks in the
Second Federal R eserve D is tr ic t:

Operating Circular No. 15, entitled “ Payment o f Interest on Time
and Savings D eposits,” has been revised to reflect an amendment,
effective October 7, 1953, made by the Banking Board o f the State of
New Y ork to its General Regulation No. 3.
A copy o f the revised operating circular is enclosed; additional
copies will be furnished upon request.




A

llan

S proul,

President.