Full text of Mimeograph Letters and Statements of the Board : Letter From Secretary Morrill re Forms of Time Certificates of Deposit, Number X-7651, Volume 39, Page 373

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373

FEDERAL RESERVE BOARD
WASHINGTON

X-7651

ADDRESS OFFICIAL CORRESPONDENCE T O
T H E FEDERAL RESERVE BOARD

October 23, 1933
SUBJECT:

Forms of Time C e r t i f i c a t e s of D e p o s i t .

Dear S i r :
Counsel f o r one of the F e d e r a l r e s e r v e banks r e c e n t l y s u b m i t t e d t o t h e F e d e r a l Reserve Board s e v e r a l forms w i t h t h e r e q u e s t t h a t
he be a d v i s e d whether t h e y conform to the r e q u i r e m e n t s of R e g u l a t i o n %
w i t h r e s p e c t t o time c e r t i f i c a t e s of d e p o s i t .

Upon c o n s i d e r a t i o n of t h e

m a t t e r , t h e Board a d v i s e d t h a t t h e forms s u b m i t t e d , w i t h c e r t a i n s u g g e s t ed changes, would appear t o comply w i t h t h e d e f i n i t i o n of time c e r t i f i c a t e s of d e p o s i t c o n t a i n e d i n the B o a r d ' s R e g u l a t i o n Q, and t h e r e i s i n c l o s e d h e r e w i t h , f o r your i n f o r m a t i o n , a copy of each of t h e forms as
m o d i f i e d i n t h e manner suggested by t h e Board.

No p a r t i c u l a r form of

time c e r t i f i c a t e of d e p o s i t i s r e q u i r e d , however, and a d e p o s i t evidenced
by any form which complies i n a l l r e s p e c t s w i t h t h e d e f i n i t i o n of time
c e r t i f i c a t e s of d e p o s i t s e t f o r t h i n R e g u l a t i o n Q, may, of c o u r s e , be t r e a t ed as a time d e p o s i t f o r t h e purposes of t h e r e g u l a t i o n .
Very t r u l y y o u r s ,

Inclosures

TO ALL FEDERAL


Chester M o r r i l l
Secretary.
RESERVE AGENTS EXCEPT CLEVELAND

X-7651-a
(Form Ho. l )

THE FIRST NATIONAL BANK OF
Place

Number

(Date)

;

h a s d e p o s i t e d not s u b j e c t t o

check

D o l l a r s ($

)

payable t o t h e o r d e r of
i n c u r r e n t f u n d s on

19

, upon

(not l e s s t h a n 30 days hence)
.surrender of t h i s c e r t i f i c a t e p r o p e r l y i n d o r s e d , w i t h i n t e r e s t a t
t h e r a t e of 3% p e r annum from d a t e t o m a t u r i t y o n l y .




(Cashier)

375
X-7651-Td
(Form Ho. 2)

THE FIRST NATIONAL BANK OF
Place

Number
(Date)
has d e p o s i t e d not s u b j e c t t o check
D o l l a r s ($

)

payable to the order of
in current funds
(Not l e s s than 30 days)

a f t e r d a t e , upon

s u r r e n d e r of t h i s c e r t i f i c a t e p r o p e r l y i n d o r s e d , w i t h i n t e r e s t a t t h e
r a t e of 3fo per annum from d a t e t o m a t u r i t y o n l y .




(Cashier)

X-7651-C
(Form Ho. 3)

THE FIRST NATIONAL BAH OF
Place _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

Number
(Date)
h a s d e p o s i t e d not s u b j e c t t o check
D o l l a r s ($

p a y a b l e t o t h e o r d e r of

)
_____________

i n c u r r e n t f u n d s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ days a f t e r n o t i c e i n
(Not l e s s t h a n 30 days)
w r i t i n g of i n t e n d e d w i t h d r a w a l s h a l l have b e e n g i v e n t o t h e bank and
upon s u r r e n d e r of t h i s c e r t i f i c a t e p r o p e r l y i n d o r s e d , w i t h i n t e r e s t
as h e r e i n provided.

I n t e r e s t p a y a b l e f o r f u l l months o n l y a t

p e r annum i f l e f t

or

$ i f l e f t more t h a n

(days o r months)
(days or months)

.

No i n t e r e s t a f t e r e x p i r a t i o n of n o t i c e of

withdrawal.




(Cashier)

$

X-7651-d
(Form Ho. 4)

THE FIRST NATIONAL BAH OF
P l a c e _______________________

Number
(Date)

,

has d e p o s i t e d not s u b j e c t t o check
D o l l a r s ($

)

payable t o t h e o r d e r of
i n c u r r e n t f u n d s only upon t h e e x p i r a t i o n of a p e r i o d of
•

(Not l e s s t h a n 30 days)

days a f t e r n o t i c e i n w r i t i n g of i n t e n d e d

withdrawal s h a l l have been g i v e n t o t h e bank and upon s u r r e n d e r of
t h i s c e r t i f i c a t e p r o p e r l y i n d o r s e d , w i t h i n t e r e s t as h e r e i n p r o vided.

I n t e r e s t payable f o r f u l l months only a t

annum i f l e f t

(days or months)

(days or months)

.

or

$ per

i f l e f t more t h a n

No i n t e r e s t a f t e r e x p i r a t i o n of n o t i c e of

withdrawal.




(Cashier)