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F E D E R A L R E S E R V E BA N K O F N EW YORK Fiscal Agent of the United States r Circular N o. 4 7 1 9 1 L March 26, 1959 J TREASURY’S CURRENT CASH OFFERINGS OF BONDS AND NOTES Bases of Allotments and Amounts of Subscriptions T o A ll Banking Institutions, and Others Concerned, in the Second Federal R eserve D istrict: The follow in g statement was made public tod a y: The Treasury today announced a 65 percent allotment to savings-type investors, a 35 percent allotment to commercial banks fo r their own account, and a 20 percent allotment to all other subscribers fo r the current cash offering o f an additional $500 m illion, or there abouts, o f 4 percent Treasury Bonds o f 1969. Subscriptions fo r $25,000 or less from savings-type investors and commercial banks, and fo r $10,000 or less from all others, were allotted in full. Subscriptions fo r more than these minimums were allotted not less than the minimums. In addition to the amount allotted to the public, $50 m illion o f these bonds were allotted to Government Investment Accounts. Reports received thus far from the Federal Reserve Banks show that subscriptions fo r the bonds total about $1,477 million, o f which about $238 m illion were received from sub scribers in the savings-type investor groups, $918 m illion from commercial banks fo r their own account, and $321 m illion from all others. The savings-type investors whose subscriptions were given a 65 percent allotment are as follow s: Pension and retirement funds— public and private Endowm ent funds Insurance companies Mutual savings banks Fraternal benefit assocations and labor unions’ insurance funds Savings and loan associations Credit unions Other savings organizations (not including commercial banks) States, political subdivisions or instrumentalities thereof, and public funds. On a com panion cash offering o f $1,500 million, or thereabouts, o f 4 percent Treasury Notes o f Series B-1963, the Treasury announced a 50 percent allotment on subscriptions in excess o f $100,000. Subscriptions fo r $100,000 or less were allotted in full. Subscriptions fo r more than $100,000 were allotted not less than $100,000. In addition to the amount allotted to the public, $100 m illion o f these notes were allotted to Government Investment Accounts. Reports received thus fa r show that subscriptions fo r the notes total about $2,981 million. Details by Federal Reserve Districts as to subscriptions and allotments will announced when final reports are received from the Federal Reserve Banks. A lfred H ayes, President. be At U719 F E D E R A L R E S E R V E BA N K O F N EW YORK M arch 26, 1959 T o A ll M em ber and Non mem ber Clearing Banks in the Second Federal R eserve D istrict, and Others C on cern ed: 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 your sets o f those documents are com plete. W e shall be pleased to furnish upon request copies o f any you do not have. W e transmit herewith a revised table o f contents o f the Operating Circulars to replace the one now in you r binder. A lfred H ayes, P resident. ( over) 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 O F 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 OF G O V E R N O R S O F T H E F E D E R A L R E S E R V E SY S T E M March 26, 1959 Operating Circulars Operating Circular No. 1 F irst Supplement . . Operating Circular No. 2 Operating Circular No. 3 F irst Supplement . . . . . . Regulations . January 15 1959 2 1959 . October 18 1949 . . . . A pril . . . . July 4 1956 2 1957 Regulation A ................................ February 15 1955 Regulation B ................................ 15 1930 Regulation C ................................ 31 1946 Regulation D ................................ A m e n d m e n t........................... S u p p le m e n t........................... September 16 1948 . . May 16 1955 17 1958 Regulation E ................................ Operating Circular No. 4 F irst Supplement . . Second Supplement . . . . . . . . J uly 15 1954 5 1957 20 March 1959 1 1940 Regulation F ................................ A m e n d m e n t........................... Regulation G . ........................... Operating C ircular No. 5 . . . October 28 1957 Operating Circular No. 6 . . . October 28 1957 Regulation I ................................ A m e n d m e n t........................... Operating Circular No. 7 . . . October 28 1957 Regulation J . . November 1 1949 . . . . July 15 1954 . . . March 20 1959 Operating Circular No. 10 . Operating Circular No. 11 . . . . . . . . . 5 1951 13 1955 3 1959 Regulation H ................................ A m e n d m e n t........................... Operating Circular No. 8 First Supplement . . Second Supplement . February September 1 1952 3 1959 . January 1 1936 3 1959 . 3 1959 Regulation K ................................ A m e n d m e n t........................... 15 1957 November 12 1958 Regulation L ................................ A m e n d m e n t........................... F ebruary . . July 1 1940 1 1948 Regulation M ................................ 14 1937 Regulation N ................................. 1 1944 November 20 1958 Regulation O ................................ 1 1939 1 1936 9 1959 . January 15 1957 Operating Circular No. 12 . . February 15 1955 Regulation P ................................ A m e n d m e n t........................... Operating Circular No. 13 . . . March 6 1959 Regulation Q ................................ February 11 1937 Operating Circular No. 14 . . . March 9 1959 A m e n d m e n t........................... A m e n d m e n t........................... S u p p le m e n t........................... 1 1952 16 1955 . January 1 1957 Operating Circular No. 15 . . . January 1 1957 Regulation R ................................ 4 1936 Operating Circular No. 16 . . . Operating Circular No. 17 A p p e n d ix ...................... . . . . Operating C ircular No. 18 F irst Supplement . . . Operating Circular No. 19 F irst Supplement . . Operating Circular No. 20 F irst Supplement . . Second Supplement . . J une 25 1951 Ma y 17 1957 18 1959 . . . J u ly 28 1953 7 1954 . . 31 1954 December 8 1955 . . . . . . March . 3 1955 20 1955 J u ly 23 1958 Regulation S ................................ 30 1942 Regulation T (includes Amendments Nos. 1 -1 0) . . . . July Amendm ent No. 11 . September 3 and Amendm ent No. 12 . . . . . May Amendm ent No. 13 . . . S u p p le m e n t........................... . October 20 17 1 27 16 1949 1951 1956 1957 1958 Regulation U (includes Amendments Nos. 1 -1 1 ) . . Amendment No. 12 . . . Amendm ent No. 13 . . . S u p p le m e n t........................... . . July 20 1949 . August 1 1953 . January 3 1959 16 1958 Regulation V ................................ September 27 1950 Regulation Y ................................ September 1 1956 F ed er a l o f R N eserv e ew Y B ank ork CONTENTS T itle o f O perating Circular No. Authorized S ig n a tu r e s ............................................................................. 1 Reserves o f Member B a n k s .................................................................... 2 Paper Currency and C o i n ....................................................................... 3 Collection o f Cash I t e m s ......................................................................... 4 New Y ork Head Office Time S c h e d u le ................................................. 5 Buffalo Branch Time S c h e d u le .............................................................. 6 Saturday C lo s in g ........................................................................................ 7 Collection o f Noncash I t e m s .................................................................. 8 Transfers o f F u n d s ................................................................................... 10 Schedule o f Time Limits for Telegraphic Transfers o f Funds to Other Federal Reserve Banks and B ra n ch e s ............... 11 Advances and Discounts Under Sections 13, 13a and 1 0(b) o f the Federal Reserve A c t ................................................................ 12 Discount R a t e s ............................................................................................ 13 Safekeeping, H andling and Shipment o f S e c u r itie s ....................... 14 Payment o f Interest on Time and Savings D e p o s its ........................ 15 Federal Reserve Bank S t o c k ...................................................... ......... 16 Transactions in United States Securities Other Than Savings B o n d s .................................................................. ...................................... 17 Deposit o f Federal Taxes W ith Depositary B a n k s .......................... 18 Reports o f Transactions in Foreign Exchange, Transfers of Credit, and the E xport o f Coin and C u r r e n c y ............................ 1!) United States Savings Bonds, Series E, Instructions to Issuing A g e n t s ........................................................................................ 20 ( R e v . 3-26-59)
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