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3 At a special meetin of the Federal lieserve: Board held in the office of the Board at 11:00 a. m., Londay, .:. ovember 9th: Lir. Hamlin Warburi7: r. Harding hr. hiller. The Governor read a letter from Jir George Paish relative to the arrangement for carrying through the mission with which Sir George Paish had been entrusted. -- The 3ecrotary of the Board presented the question of a pro:posed circular relatinL; to the computation of reserves by member banks. After discussing the ouestion what to do with the proposed circular, it was referred to the committee already al-_pointed on the subject. The committee was also enlar,:ed by the addition to it of the Comptroller of the Currency and of the Governor and 3ecretary of the Board. The Committee was further directed to co_sider the (:Izestion what should be t,;:e relations between the Comptroller and the Board in regard to supervision of member bank reserve requirements. ;:r. Harding presented to the Board a report regarding the meaning of the term "savings deposits," in the Federal ,ieserve Act. On motion, the report was referred back to the committee. At the request of the Governor, the Secretary of the Board presented a communication from the Federal Reserve Bank of Boston and reply to the same, regarding the kinds of money that might be received in razri.:ent of reserves. The Secretary was directed to communicate with the Reserve Bank of Boston and urge the observance of circular Ho. 10. The Secretary of the Board was directed to send a list classifying banks in the several districts as central reserve, reserve city and country banks to eacil Federal reserve bank. On motion, t:le Secretary of the Board was authorized to refer such matters as he might deem best, direct to the appropriate committees of the Board, in order to facilitate business. On motion, tie Board adjourned to meet at 3:00 P° A Jecretary. APPROVED: ihairman.
@FedFRASER