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CONFIDENTIAL
P R O G R A M
GOVERNORS
CONFERENCE
April 19, 1933
Washington, D . C.
CREDIT TRANSACTIONS A N D POLICIES
de O p e n market operations a n d discount r a t e s a n d their
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Federal Reserve Bank of St. Louis
relation t o National program o f recovery.
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Gold a n d foreign exchanges:
3 G o l d movements a n d g o l d export licenses; »
2. F o r e i g n exchange control. on
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Relations with foreign banks:
l. R e p o r t o f operations.
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Discount operations:
“Ly L o a n s o n Government securities u n d e r
Section 403, A c t o f March 9, 1933;
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as L o a n s t o nonmember banks a n d trust companies,
Act o f March 24, 1933;
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Policy o f making 10(b) loans t o member and
nonmember banks.
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Handling o f paper hypothecated with Federal reserve
banks b y unlicensed member banks, with particular) )\”
reference to e
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1. Whether renewals should be allowed;.
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es W h e t h e r Federal reserve banks should insist
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that all interest, a s well as all p r i n c i ”-«
pal, collected o n hypothecated paper be*<
forwarded t o them;
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Whether suits should be instituted by Fed.~\',
eral reserve banks o n matured notes; us a s
Possible divergence b e t w e e n practice o f ;
Federal reserve banks and that o f the
Reconstruction Finance Corporation.
P h i l a d e l p h i a
Reorganization o f banks n o t licensed t o resume f u l l
banking operations:
Le D e p o s i t s o f Conservators i n Federal reserve
banks.
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Admission requirements f o r State banks a n d trust companies applying f o r membership i n t h e Federal Reserve
System: 5
1. Advisability of some relaxation in the Board's\ » ~
requirements for admission to the System. 4.0" :
New York
Philadelphia
Policy i n taking c a r e o f licensed banks i f heavy
withdrawals c a l l f o r highly unliquid loans.
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OPERATION AND ADMINISTRATION
A. S e t t i n g u p reserves against possible losses.
Bi P e n s i o n plan,
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LEGISLATIVE PROBLEMS
A. P r o p o s a l s pending before Congress, s u c h a s Glass
Banking Bill.
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COIN, CURRENCY, A N D CIRCULATION
A. I s s u a n c e o f Federal Reserve B a n k notes:
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tbe S h o u l d t h e y b e issued o n l y against
10(b) loans.
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REPORTS O F COMMITTEES
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Federal Reserve Bank of St. Louis
Committee o n Development o f Acceptance Practice.
Insurance Committee.
Leased Wire Committee.
Pension Committee.
Sub-committee o f General Committee o n Bankers
Acceptances.
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