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1274 A meeting of the Board of Governors of the Federal Reserve Systell 'Was held in Washington on Friday, September 6, 1946, at 2:30 p.m. PRESENT: Mr. Ransom, Vice Chairman Mr. Draper Mr. Vardaman Mr. Carpenter, Secretary The action stated with respect to each of the matters herein- after referred to was taken by the Board: Telegrams to Mr. Treiber, Secretary of the Federal Reserve kalt of New York; Mr. Walden, First Vice President of the Federal Re8erve Bank of Richmond; Mr. McLarin, President of the Federal Reserve 8allk of Atlanta; Mr. Dillard, Vice President of the Federal Reserve Balik of Chicago; Mr. Stewart, Vice President of the Federal Reserve Bank of St. Louis; Mr. Ziemer, Vice President of the Federal Reserve 441t of Minneapolis; Mr. Caldwell, Chairman of the Federal Reserve Bank of Kansas City; and Mr. Mangels, Vice PresLdent of the Federal Ileeierve Bank of San Francisco, stating that the Board approves the etablishment without change by the Federal Reserve Bank of San Franon September 31 by the Federal Reserve Banks of Atlanta and St. Louis on September 4, and by the Federal Reserve Banks of New York, hmond, Chicago, Minneapolis, and Kansas City on September 6, of the l'4teS of discount and purchase in their existing schedules. Approved unanimously. 1275 W46 -2Telegrams to Mr. Blair, Secretary of the Federal Reserve Bank of Cleveland, and Mr. Mangels, Vice President of the Federal Reserve 8a4c of San Francisco, stating that the Board approves for the respective Banks, effective September 72 1946, a minimum buying rate of °Ile per cent for the purchase of bankers' acceptances, and the establis hment by the Banks, without change, of other rates of discount and Purchase in their existing schedules. Approved unanimously. Telegram to Mr. McCreedy, Vice President of the Federal Re" I've Bank of Philadelphia, stating that the Board approves for the /3441c, effective September 7, 1946, a minimum buying rate of one per cent for the purchase of bankers' acceptances for all maturities, and the establishment by the Bank, Aithout change, of other rates of disCo t and purchase in its existing schedule. Approved unanimously. Memorandum dated September 4, 1946, from Mr. Thomas, Director the Division of Research and Statistics, submitting the resignation Of Mrs. Bonnie Blake Anderton, a clerk in that Division, to become effective as of the close of business September 7, 1946, and recommending thn 'LI- the resignation be accepted as of that date and that appropriate P8•Yzent, be made for the accumulated annual leave remaining to her el di.t at that time. The resignation was accepted as recommended. 1276 W46 Telegram to Mr. Knoke, Vice President of the Federal Reserve Bank of New York, reading as follows: "In compliance with the request in your letter of September 4 and your telegram of September 5 the Board aPproves the opening and maintenance of an account on Your books for the Reserve Bank of India subject to the usual terms and conditions upon which you maintain ac— counts for foreign central banks. It is understood that You will offer participation in this account to the other Federal Reserve Banks." Approved unanimously. Letter to the Presidents of all the Federal Reserve Banks, rea,1'A-L4_ ag as follows: "Reference is made to the Board's letter of June 3, 1942 (8-502, F.R.L.S. 0501), concerning the policy of the Federal Reserve System with respect to giving out information on Regulation V loans. "It is believed that at the present time there is no objection to supplying, if you so desire, statisti— cal information requested on guaranteed loans under Regulation V) without reference to the War Department, Navy Department, or Maritime Commission, so long, of course, as the data furnished cannot be identified as to any individual borrower." Approved unanimously. Thereupon the meeting Secretary. Vice Chair.ilan.
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