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207 A meeting of the Board of Governors of the Federal Reserve 8Ystem waS held in Washington on Tuesday, February 6, 1945, at 10:00 PRESENT: Mr. Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Ransom, Vice Chairman Szymczak McKee Draper Evans Mr. Morrill, Secretary Mr. Carpenter, Assistant Secretary Mr. Thurston, Assistant to the Chairman The action stated with respect to each of the matters hereinfter r eferred to was taken by the Board: The minutes of the meeting of the Board of Governors of the 4cieral Reserve System held on February 5, 1945, were approved unani4:11184 . ream Letter to the Presidents of all the Federal Reserve Banks as follows: tl Reference is made to the Board's letter of January ' 5 1945 S-P -24, with which was enclosed a memorandum from the " mavY Department suggesting a definition of 'cancelled Contra ' to be included in loan agreements under the 1944 ot, leg guarantee agreement. We are now in receipt of a dated January 30, 1945, from Lieutenant Commander tirlli fith, Assistant to Director of Finance of the Marithee Commission, advising that the Commission joins in of _J'equest set forth in the Navy Department memorandum 'January 3, 1945.11 Approved unanimously. re,k44 Letter to the Presidents g as follows: of all of the Federal Reserve Banks 208 2/6/45 -2"For your information there is enclosed a copy of a memorandura from the War Department, dated January 25, 945, signed by Colonel Paul Cleveland, Chief, Advance Payment and Loan Branch, regarding extensions of guaranteed loans under the 1942 or 1943 forms of guarantee a greements. "When outstan ingguarantees are cancelled and reissued on the September 1 or September 15, 1944, forms f of guarantee agreements, the guarantee fee, commitment e, and interest rate must conform to the rates effective September 11, 1944, as set forth in the Board's uts andinst er S-782 of September 6, 1944. Nhen the maturity of f o Outstanding guarantee agreements executed on the 1942 Or_ 1943 forms of guarantee agreements is extended with?1 t the use of the 1944 form of guarantee agreement, the interest rate and the guarantee fee and commitment fee Ust li gual ps te:ithin the limitations in effect at the time the s were issued. There is no requirement that be made to conform to the rates prescribed effec'.J-vs S eptember 11, 1944." j Approved unanimously. Letter to the Presidents of all of the Federal Reserve Banks -441g as follows: 31 "There is attached a copy of a letter, dated January 45, from the Treasury Department requesting inforre 4.01.1 regarding the disposition of certain Fiscal Agency t42rds- The authorization to dispose of the records re! 4 was transmitted to you with my letter of April 22,1; 1 14t m4419 be "It is believed that the letter from the is self-explanatory, and it will beTreasuypt appreciated thj°u will forward the desired information to us in order We may comply with the Treasury's request." Approved unanimously. brern -Loranduin dated February 3, 1945, from the Division of Examinaec°mmending, for the reasons stated in the memorandum, that $592.50 209 244045 -3- be added to the item of Furniture and Equipment in the 1945 nonpersonal 1:114t of the Division of Examinations. Approved unanimously Thereupon the meeting adjourned. 0ary Approv Chairman.
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