Full text of Federal Reserve Bank of New York Circulars : 6724. Effective Date of Margin Requirements as to Borrowers

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FEDERAL RESERVE BANK
OF NEW YORK

Circular N o. 6724
April 29, 1971

E

']

EFFECTIVE DATE OF MARGIN REQUIREMENTS AS TO BORROWERS

To A ll Persons Extending Securities Credit
in the Second Federal R eserv e D istrict:

Our Circular No. 6721, dated April 27, 1971, contained the texts of a
statement and a notice issued by the Board of Governors of the Federal
Reserve

System,

which state that the amendment to the Securities and

Exchange Act of 1934 contained in Title III of Public Law 91-508 will be­
come effective as to borrowers in both foreign and domestic securities
transactions at a date not later than December 1, 1971.
We have now been informed by the Board of Governors that this date,
in both the statement and the notice, should be corrected to read M
November
1, 1971."




ALFRED HAYES,
President.