Washington, Sept. 26.
The United States Federal Reserve Board to-day announced the revision of its rules to broaden the Reserve System's, lending function thereby further implementing the policy of maintaining easy money conditions.
The revision will extend credit to the member banks in order to meet seasonal and other credit requirements of commerce, industry and agriculture. The regulations will make eligible for discount a large amount of commission companys and finance companys paper including paper drawn to finance installment seles of a commercial character.
"Experience has demonstrated that the solvency of banks is better safeguarded by careful regard to the quality of paper acquired instead of the strict observance of the form the ent it is i portant that the Reserve System lend with the greatest freedom consistent with safety," the order said.—United
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