Full text of Federal Reserve Bank of New York Circulars : 6516. Amendment to Treasury Department Circular No. 92

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F E D E R A L R E S E R V E BANK
O F N E W YORK
Fiscal A gent of the U nited S tates

C i r c u l a r N o . 6516
A p r il 2, 1970

AMENDMENT TO TREASURY D EPA R TM EN T CIRCULAR NO. 92

To A ll T rea su ry T ax and Loan D e p o s ita r ie s
in th e S e c o n d F e d era l R e s e r v e D is tr ic t:

P r i n t e d b e lo w i s a n e x c e r p t f r o m th e F e d e r a l R e g i s t e r o f M a r c h 12, c o n ­
t a i n i n g t h e t e x t o f a n a m e n d m e n t to T r e a s u r y D e p a r t m e n t C i r c u l a r N o . 92. T h e
a m e n d m e n t e x te n d s th e m a t u r i t y o f c o m m e r c i a l a n d a g r i c u l t u r a l p a p e r a n d
b a n k e r s ’ a c c e p t a n c e s t h a t m a y b e p le d g e d a s c o l l a t e r a l f o r b a l a n c e s in T r e a s u r y
T a x a n d L o a n A c c o u n ts f r o m ’’n o t to e x c e e d 6 m o n th s " to ’’n o t to e x c e e d 1 y e a r ”
a t th e t i m e o f p le d g e a n d i n c r e a s e s th e a m o u n t o f s u c h c o l l a t e r a l f r o m 80 p e r ­
c e n t o f f a c e v a lu e to 90 p e r c e n t o f f a c e v a lu e .
A d d itio n a l c o p i e s o f t h i s c i r c u l a r w ill b e f u r n i s h e d u p o n r e q u e s t .
A L F R E D H A Y E S,
P re s id e n t.

Title 31— MONEY AND
FINANCE: TREASURY
Chapter II— Fiscal Service, Depart­
ment of the Treasury
SUBCHAPTER A— BUREAU OF ACCOUNTS

PART 203— SPECIAL DEPOSITARIES
OF PUBLIC MONEY
Acceptable Collateral Security

The Department of the Treasury finds
that it is necessary to amend its regula­
tions governing the designation of special
Depositaries of Public Money at 31 CFR
Part 203 (also appearing as Department
Circular No. 92, Second Revision) by re­
vising the description of the terms under
which certain securities are acceptable
for pledging as collateral for deposits to
a Treasury Tax and Loan Account. The
Department also finds, in accord with 5
U.S.C. 553, that notice and public pro­




cedure thereon are not necessary since
the amendment involves a matter relat­
ing to public contracts.
Accordingly, Part 203, Chapter II of
Title 31 of the Code of Federal Regula­
tions is amended by revising $ 203.8(b)
(9) to read:
§ 2 0 3 .8
*

Collateral serurily.
*

*

*

*

(b) A c c e p ta b le se c u ritie s. * * *
(9> Commercial and agricultural pa­
per and bankers’ acceptances approved
by the Federal Reserve Bank of the dis­
trict and having a maturity at the time
of pledge of not to exceed one year at
90 percent of face value.
•
•
•
•
»
(6 U.S.C. 301)

Dated: March 9, 1970.
[ seal ]
J ohn K. C arlock ,
Fiscal A ssistant Secretary.
(P R . Doc. 70-3023; Filed, Mar. 11, 1970;
8:61 a m .|