This letter is in regard to the election of directors of this Bank to succeed Mr. Sanford L. Michelman, a Class B director, elected by banks in Group One, and Mr. Steven R. Gardner, a Class A director, elected by banks in Group Two, whose terms end on December 31, 2019, respectively. These elections have been duly held in accordance with the requirements of Section 4 of the Federal Reserve Act and the provisions of the circulars issued by this office dated July 10 and August 21, 2019.