Full text of Federal Reserve Bank of New York Circulars : 4121. Change in Classification of Member Banks for Voting Purposes

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F E D E R A L R E S E R V E BANK
OF NEW YORK

f Circular No. 4 1
I
July 1, 1954

CHANGE IN CLASSIFICATION OF MEMBER BANKS
FOR VOTING PURPOSES

T o M em ber Banks in the
Second Federal R eserve D istrict:

The Board of Governors of the Federal Reserve System has changed
the classification of member banks in the Second Federal Reserve District
for the purpose of electing class A and class B directors of the Federal
Reserve Bank of New York so that Group 3 consists of banks having capital
and surplus of $500,000 and less, instead of $400,000 and less, as heretofore.
Accordingly the present classification is as follow s:
Group 1 consists of banks having capital and surplus of $10,000,000 or over;
Group 2, of banks with capital and surplus over $500,000 but less than
$10,000,000; and
Group 3, of banks having capital and surplus of $500,000 and less.




J

E. C r a n e ,
Chairman of the Board.

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