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May 13, 1987 To the Addressee: Your institution has a complimentary set of Board regulations and operating circulars of this Bank; you receive updates for this service through a special mailing list (Code FB). Additionally, the head office of your institution receives on a regular basis most of the circulars mailed by this Bank over the name of our President, including updates to the regulations and operating circulars. We have found that this procedure generates a certain amount of duplication in our mailing as the copy mailed to the head office often is the one used to update the institutions' binders. Therefore, we now plan to discontinue the specialized mailing addressed to the "Holder of Federal Reserve Binders" (Code FB); we will of course continue to mail these materials to the head office of your institution. If, however, you have found it more convenient to receive the updates to the Board's regulations or our operating circulars directly, we will be more than happy to reinstate your mailing label on one of our other mailing lists if you will advise us of your preference by letter. Circulars Division FEDERAL RESERVE BANK OF NEW YORK 1405C