The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
1606 A meeting of the Board of Governors of the Federal Reserve SYstem was held in Washington on Saturday, October 21, 1944, at 10:30 PRESENT: Mr. Ur. Mr. Mr. Mr. Ransom, Vice Chairman Szymczak McKee Draper Evans Mr. Morrill, Secretary Mr. Bethea, Assistant Secretary Mr. Clayton, Assistant to the Chairman The action stated with respect to each of the matters hereinafter referred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Federal Mously Reserve System held on October 20, 1944, were approved unani- Telegram to Mr. Flanders, President of the Federal Reserve Batik of Boston, reading as follows: "Retel October 20. Establishment for other Federal Reserve Banks of maximum commitment rate on 15b loans '.11aranteed under Regulation V of one-quarter of one per cent per annum based on average daily unused balance of t e maximum principal amount of the loan or in the al, ernative a flat fee of not to exceed 50 allows such fanks to elect to make a uniform commitment charge of e-quarter per cent per annum on such loans if they so R:'ire. Since language used in wires to the eleven other -serve Banks has been uniform would it be agreeable to Y iOur Bank to adopt same language with understanding that ! 0 such case Bank may if desired apply a uniform fee of 8n:quarter per cent per annum? Otherwise in published fn'ments special note will have to be appended to rate -r Your Bank." r Approved unanimously. 1607 10/21/44 -2- Memorandum dated October 20, 1944, from Mr. Morrill submitting the re signation of Fred Parquette as a guard in the Secretary's Office and recannending that the resignation be accepted as of the close of business on December 30, 1944, or at an appropriate earlier date if he uses any annual leave prior to leaving the service of the Board. The resignation was accepted as recommended. Memorandum dated October 20, 1944, from Mr. Parry, Director °lithe Division of Security Loans, submitting the resignation of Miss Catherine ". ti Hall as Research Assistant in that Division, to become effective as of the close of business on October 23, 1944, and recommending that the resignation be accepted as of that date. The resignation was accepted as recommended. Telegram to Mr. Evans, Vice President of the Federal Reserve Bank of Dallas, reading as follows: me ?f "Reference letter October 14. Board approves appointof E. J. Barber as examiner for Federal Reserve Bank o'L Dallas. If appointment is not made effective November Please advise us." Approved unanimously. Telegram to Mr. Evans, Vice President of the Federal Reserve Bank of Dallas, reading as follows: "Pursuant to request your wire October 20, Board a P !fpProves designation of L. G. Davis as special assistant exn,,4 ner for the Federal Reserve Bank of Dallas." Approved unanimously. 1608 10/21/44 Thereupon the meeting adjourned. 6ge,ctiti Vice Chairman. Secreta