1937 - Complete Issue (53.5M) - Fraser - Federal Reserve Bank of ...

Bank lo a n s on s e c u r it ie s : (C ontinued) ^ ^
B .ta n n ia a tion o f market value o f stock fa r
t io n U, m l i n c t o be p u b lish e d in F R B u lle tin 3 /1 8
D igest o f R egu lation U. FRBank o f San F r a n c is c o , q u e s tio n s su g -
g ested f o r in c lu s io n 3 / 3
Indebtedness fo r purpose o f plOOO exem ption in R e g u la tio n U,
re p ly t o M anufacturers N a tion a l Bamf o f D e t r o it
that r e a l e s ta te lo a n s and n o n co n tin g e n t l i a ­
b i l i t i e s on com m ercial p aper sh ou ld be i n ­
cluded ^
L im ited guaranty o f th ir d p a rty in c a lc u la t in g maximum lo a n
valu e Of c o l l a t e r a l t o lo a n under R e g u la tio n U,
re p ly t o FRBank o f M in n ea p olis a g r e e in g th a t
guaranty should n ot be taken i n t o c o n s id e r a t io n 1 / 5
Loan by bank f o r purpose o f en a b lin g w arrant h o ld e r s t o p u rch ase
stock o f S ea rs, Roebuck and Co. exempt from
R egu lation U in circu m sta n ce s, r e p ly t o FRBank
o f Chicago l / 9
Loan to customer o f 45& but b e fo r e n o te and c o l l a t e r a l a re deliv
e r e d market p r ic e d e c lin e s , r e p ly t o Mr.
S ih le r a g reein g th a t p ro p e r tim e o f d eterm in a ­
t io n o f valu e i s tim e o f making agreem ent 2 /2 3
Loan made by C entral Bank o f Oakland, C a l i f . , t o d e a le r t o p u rchase
s e c u r it ie s m ost o f which a re u n r e g is t e r e d ,
h eld s u b je c t to R egu la tion U 4 / 5
Loans to member film s fo r c e r ta in p u rp o ses, a p p l i c a b i l i t y o f
R egu lation U to th re e ty p e s p r e s e n te d by
Chemical Bank and T ru st C o ., amendment t o
R egu lation n ot a d v is a b le 5 / 7
Loans on l i s t e d s e c u r it ie s o f investm ent c h a r a c t e r , s u g g e s tio n
o f C a lifo r n ia S e c u r ity D e a le r s A s s o c ia t io n
that R egu lation U be amended t o p erm it la r g e r
loa n s on, Board u n w illin g t o p a ss on r e l a t i v e
m erits o f s e c u r i t i e s 6 /1 0
Loan t o investment tr u s t t o r e t i r e d e b e n tu re s, r u lin g r e app
l i c a b i l i t y o f R e g u la tio n U t o , t o be p u b lis h e d
in F R B u lletin 7 /2 2
Old lo a n s, c o lla t e r a l, r e p ly t o Mr. Sargent th a t s u b s t it u t io n
o f cash f o r s e c u r i t i e s and r e s u b s t it u t io n o f
r e g is t e r e d s e c u r i t i e s a s , does n ot change s t a tu s
as o ld lo a n 8 / 5
a ib s tit u t io n o f r e g is t e r e d s to c k s as c o l l a t e r a l f o r lo a n made
t o purchase u n r e g is te r e d s t o c k s , in q u ir y o f
S e a t t le -F ir s t N a tion a l Bank 6 /2 5
"Suggestions to Examiners r e R egu la tion U ", memo p repared by
Mr. Rounds, FRBank o f New Y ork , f o r d is t r ib u ­
t io n to S ta te banking departm ents in d i s t r i c t
to FDIC, change su ggested and mano approved 7 /2 2
ir a n s fe r o f lo a n , e s s e n tia ls o f , in d eb ted n ess and c o l l a t e r a l t o
be tra n s fe rred , and d eterm in ation o f f a c t s r e ­
garding, r u lin g s in t e r p r e t in g R e g u la tio n U,
re p ly t o Mr. Rounds 7 / 1 5
R ulings to be p u blish ed in F R B ulletin 7 / 2 2
Digitized for FRASER
Federal Reserve Bank of St. Louis
437
655
917
10
59
333
508
668
810
1024
1109
888
1022
960
1023