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FED ERAL RESERVE BANK O F NEW YORK r Circular No. T o e s ' ] U December 26, 1972 J Redemption of Federal Agency Securities at A ll Federal Reserve Banks To A ll Banking Institutions, and O thers Concerned, in the Second Federal Reserve D istrict: The Federal Reserve Banks, in cooperation with the U nited States T reasury D epartm ent and the several Federal Agencies that are the m ajor issuers of Federal Agency securities in the market, have developed a program to perm it the redemption of virtually all types of such securities and m atured interest coupons at all Federal Reserve Banks and Branches throughout the country. The program has now been completed, and new procedures to imple ment the program are being put into effect at all Federal Reserve Banks. U nder the new program , all Reserve Banks are authorized to redeem those Agency securities and coupons that are set forth on the following pages of this circular. In addition to such securities, the Federal Reserve Bank of New Y ork will continue to make payment at m aturity on other types of Agency obligations, including Federal N ational M ortgage Association Discount Notes, securities of the Small Business A dm inistration and the F arm ers Home A dm inistra tion, and obligations of the various international organizations. W hile some issues of Agency securities have been redeemable at all Federal Reserve Banks, until the new program was developed the redemption of many other Agency issues was restricted either to the Federal Reserve Bank of New Y ork alone, or to the Federal Reserve Banks of New York, Chicago, and San Francisco. The new program is designed to provide uniform treatm ent for as many classes of Agency securities as is practicable, and at the same time to provide facilities at all Federal Reserve Banks and Branches for the redemp tion of such securities and the payment of the coupons thereon. Furtherm ore, by establishing a nationwide payment network for Federal Agency securities, the new procedures constitute another step tow ard the implementation of the program to make such securities available in book-entry form. Such program was referred to in our Circular No. 6976, dated July 21, 1972. The officers of our Government Bond and Safekeeping D epartm ent would be pleased to discuss any questions you may have concerning the redemption of Agency securities under the new procedures. A lfred H a y es, President. Federal Agency Securities Redeemable at All Federal Reserve Banks and Branches SECURITIES OF TYPE OF SECURITY District of Columbia Armory Board District of Columbia Armory Board Securities (D. C. Stadium Bonds) Export-Import Bank Debentures Participation Certificates Farm Credit Administration Consolidated Federal Farm Loan Bonds Federal Intermediate Credit Bank Debentures Banks for Cooperatives Debentures Federal Farm Mortgage Corporation Federal Farm Mortgage Corporation Bonds Federal Home Loan Bank Board Consolidated Securities of the Federal Home Loan Banks Federal Home Loan Mortgage Corporation FH LM C Mortgage Backed Bonds Federal Housing Administration Federal Housing Administration Debentures Federal National Mortgage Association Federal National Mortgage Association Securities (SM Debentures) F N M A Capital Debentures FN M A Mortgage Backed Bonds Government National Mortgage Association Government National Mortgage Association Participation Certificates Home Owners’ Loan Corporation Home Owners’ Loan Corporation Securities Tennessee Valley Authority T V A Power Notes U. S. Postal Service U. S. Postal Service Securities Federal Agency Coupons Redeemable at All Federal Reserve Banks COUPONS ON S E C U R IT IE S OF T Y P E O F S E C U R IT Y Commodity Credit Corporation Commodity Credit Corporation Securities District of Columbia Armory Board District of Columbia Armory Board Securities Export-Import Bank Eximbank Debentures Eximbank Participation Certificates Farm Credit Administration Consolidated Federal Farm Loan Bonds Federal Intermediate Credit Bank Debentures Banks for Cooperatives Debentures Federal Farm Mortgage Corporation Federal Farm Mortgage Corporation Bonds Federal Home Loan Bank Board Consolidated Debentures of the Federal Home Loan Banks Federal Home Loan Mortage Corporation FH LM C Mortgage Backed Bonds Federal National Mortgage Association Federal National Mortgage Association Securities (SM Debentures and M L Notes) FN M A Capital Debentures F N M A Mortgage Backed Bonds Government National Mortgage Association Government National Mortgage Association Participation Certificates Home Owners’ Loan Corporation Home Owners’ Loan Corporation Securities Philippine Islands Philippine Island Securities Puerto Rico Puerto Rican Securities Reconstruction Finance Corporation Reconstruction Finance Corporation Securities U. S. Postal Service U. S. Postal Service Securities
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