View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

REGULATION NO. 1

FEDERAL RESERVE BOARD
WASHINGTON

PROCEDURE IN APPEALS FROM DECISION OF THE RESERVE BANK
ORGANIZATION COMMITTEE.
1. Petitions for changes I n designation of Federal reserve cities.
Petitions for review of the action of the Reserve Bank Organization Committee in designating
£edmd reserve cities must be signed by duly authorized officers of a majority of the member banks
Seated In the city requesting a review.
Su<$ petitions must set forth briefly, the grounds and reasons relied upon tof such review.
Within five days after muffing said petition the petitioner shall file twenty copies of a brief setting
ibrth fully the grounds relied upon for a review of the action of said Reserve Bank Organization Committee.
"The secretary of the Board shall notify all member banks in the Federal reserve city of the district
in question that such petition has beenfiled,and shall request such banks to designate a representative
to act for such city at the hearing thereon. He shall also send to the representative of such banks, whan
designated, a copy of the brief filed by the petitioner, and said representative shall be given seven days
within which to file twenty copies of his brief in reply.
The Federal Reserve Board will thereupon fix a date for the hearing of oral arguments by counsel,
which arguments will be limited to one hour oh each side.
The Board will not hear testimony! but the parties will be limited to the record before the Organization Committee.
The record need not be printed, but reference may bo made in the briefs by page to the report filed
by the Organization Committee with the Senate of the United States and ordered printed, and may
likewise be made by page and volume to thetypewrittentestimony of the witnesses appearing before
the Organization Committee at the hearings hdd by the Committee.
2. Petitions for changes in the geographical limits of Federal reserve districts.
Petitions for review of the determination of Federal reserve districts by the Organization Committee
must be signed by duly authorized officers of at least two-thirds of the member banks in the territory
which the petition asks to have taken out of one district and annexed to another.
Proceedings as to notice,filingof briefs and arguments shall be the same aa for petitions for changes
in the designation of Federal reserve cities, except that the board of directors of the Federal reserve
bank and not the member bank* in the Fed&rtl reserve city shall select the representative to appear
and answer the petition. Qftss A and B direotoi* elected may act, pending appointment of CSaaa C
dsfectors, in the Selection of such representative.
At sH hearings held .hereunder all questions of Jaw oriact, including jurisdiction and powers of the
Federal Rtaerve- Board, may be argued
FEDERAL RESERVE BOARD.

By
August 28,1914




Goreraof.