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FEDERAL RESERVE BANK
OF NEW YORK

(•Circular No. 7691
L March 4, 1927 J

To each Bank and Trust Company
in the Second Federal Reserve District:

Pending the issuance of a new edition of the Federal Reserve Act
amended up to date and including the provisions of the McFaddenPepper Bill, we are sending you herewith for your information a copy
of the McFadden-Pepper Bill itself as approved by the President on
February 25, 1927.
We plan to send you a copy of the full Federal Reserve Act, as
amended, as soon as the printing is completed.




Very truly yours,
BENJ. STRONG,

Governor.