Full text of Federal Reserve Bank of New York Circulars : 1623. Board of Governors of the Federal Reserve System Regulation Q, Effective January 1, 1936

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FEDERAL RESERVE BANK
OF NEW YORK

Circular No. 1623
December 30, 1935

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
REGULATION Q, EFFECTIVE JANUARY 1, 1936
Extension of Effective Date of Subsection (jf) "Interest" of Section 1

To all Member Banks in the
Second Federal Reserve District:

This is to advise you that, pending action by the Federal Deposit
Insurance Corporation on its regulations relating to the payment of
interest on deposits by insured nonmember banks, the Board of Governors of the Federal Reserve System defers until such date as may
be fixed by further action of the Board the date upon which subsection
(/), entitled "Interest", of section 1 of revised Regulation Q, becomes
effective. However, all provisions of Regulation Q, other than subsection (/) of section 1, will become effective January 1, 1936.

J. H. CASE,

Federal Beserve Agent.

FEDERAL RESERVE BANK
OF N E W YORK
December 30, 1935.
COMPUTATION OF RESERVE TO BE CARRIED WITH THE
FEDERAL RESERVE BANK OF NEW YORK BY MEMBER BANKS
To Member Banks in the
Second Federal Reserve District:
We are sending you under separate cover a supply of the following forms,
to be used in computing and reporting to us your required reserves
Form B - 15
Form R. B. 13
Form B - 15 has been revised by the Board of Governors of the Federal
Reserve System to conform with the new Regulation D as revised effective January 1,
1936.

Reference is made in this form to Schedules I, J and K of the quarterly con-

dition report (Form 105) and for your convenience you will find a copy of these
schedules on the back of Form B - 15. This form may be used in computing your required reserve and should not be forwarded to us.
Form R. B. 13 has been revised to show the following information:
la
2.
3.
4.

Gross demand deposits.
Balances subject to immediate withdrawal
due from other banks,
Cash items in process of collection.
Net demand deposits.

Time deposits.

If, on any given day, a bank's gross demand deposits are less than the allowable
deductions, net demand deposits on that date should be shown as zero,
Beginning January 1, 1936, please compute your required reserve in accordance with the method shown on Form B - 15, and, as soon as possible after the
15th and last day of each month, furnish us with your report of required reserve
on Form R. B. 13.

George L. Harrison,
Governor.

Board of Governors
of the Federal Reserve System
Form B-15
(Revised Dec. 1935)

FEDERAL RESERVE BANK
OF NEW YORK

COMPUTATION OF RESERVE TO BE CARRIED WITH THE
FEDERAL RESERVE BANK BY MEMBER BANKS
(For definitions of the terms gross demand deposits, deductions allowed in computing reserves, cash items in process of collection, net demand deposits and time deposits, see Regulation D of the Board of Governors of the Federal Reserve System)

1. GROSS DEMAND DEPOSITS, including U. S. Government deposits and demand balances of other
banks
$
(See Schedule J of the quarterly condition report for items constituting demand deposits)
(See copy of Schedule J on other side)
2. DEDUCTIONS ALLOWED IN COMPUTING RESERVES:
(a) Balances subject to immediate withdrawal due from other banks* (except balances due from Federal Reserve banks, from foreign banks or branches thereof,
from foreign branches of domestic banks, or from private banks)
$
(Corresponds to item 1 in Schedule I of the quarterly condition report)
(See copy of Schedule I on other side)
.

(b) Cash items m process of collection, except to the extent included m item 2-a
(including checks with Federal Reserve banks in process of collection and
checks on hand which will be presented for payment or forwarded for collection
on the following business day)
$
(Corresponds to item 2 in Schedule I of the quarterly condition report)
(See copy of Schedule I on other side)

3. NET DEMAND DEPOSITS (item 1 minus item 2)

4. TIME DEPOSITS

(See Schedule K of the quarterly condition report for items constituting time deposits)
(See copy of Schedule K on other side)
5. RESERVE REQUIRED:
(a) On net demand deposits (item 3 above):
Banks in central reserve cities, 13 percent;
Banks in reserve cities, 10 percent;
Banks located elsewhere, 7 percent

(b) On time deposits (item 4 above): 3 percent

(c)

Total reserve to be maintained with Federal Reserve bank

"Including cash items forwarded to a correspondent bank for collection and credit and charged to item "Due from banks."

This form should not be forwarded to the Federal Reserve bank, but is to be used by the member bank
as a guide for figuring its required reserve.
R.B.15-S0M-I-3S
(REVISED DECEMBER, !93s)

SCHEDULE I—CASH, BALANCES WITH OTHER BANKS, EXCHANGES FOR
CLEARING HOUSE, ETC.

DOLLARS

1. Demand balances with other banks in the United States (except private banks and American branches of foreign
banks):
(a) Due from banks in New York City
(&) Due from banks elsewhere in the United States—
2. Cash items in process of collection, including exchanges for clearing house, except to the extent included in
Item 1
SUBTOTAL of Items 1 and 2 (amount deductible from demand deposits in determining amount subject to
reserve).
3. Time balances with other banks in the United States (except private banks and American branches of foreign
banks)

(Amo unt not to be
^tended)

4. Balances with private banks and American branches of foreign banks
5. Balances withlbanks in foreign countries (including balances with foreign branches of other American banks but
excluding amounts due from own foreign branches)
6. Cash in vault.
TOTAL of Items 1 to 6 (must agree with Item 9 of "Assets").
SCHEDULE J—DEMAND DEPOSITS (all deposits other than "time deposits" as defined in
Regulation D of the Board of Governors of the Federal Reserve System)
1. Deposits of individuals, partnerships, and corporations (must agree with Item 14 of "Liabilities")
2. United States Government deposits.3. State, county, and municipal deposits.
4. Deposits of other banks in the United States (except private banks and American branches of foreign banks)....
5. Deposits of private banks and American branches of foreign banks
6. Deposits of banks in foreign countries (including balances of foreign branches of other American banks but excluding amounts due to own foreign branches)
7. Certified and officers' checks, letters of credit and travelers' checks sold for cash, and amounts due to Federal
Reserve Bank (transit account)
TOTAL DEMAND DEPOSITS (Items 1 to 7 of this schedule).

SCHEDULE K—TIME DEPOSITS (as defined in Regulation D of the Board of Governors of the
Federal Reserve System)
1. Deposits (except savings deposits), of individuals, partnerships, and corporations:
(a) Certificates of deposit (other than for money borrowed)
(6) Open accounts
(c) Christmas savings and similar accounts
2. Deposits evidenced by savings pass books

No. of accounts.

SUBTOTAL of Items 1 and 2 (must agree with Item
15 of "Liabilities")
3. Postal Savings deposits
4. State, county, and municipal deposits
5. Deposits of other banks in the United States (except private banks and American branches of foreign banks).-.
6. Deposits of private banks and American branches of foreign banks
7. Deposits of banks in foreign countries (including balances of foreign branches of other American banks but
excluding amounts due to own foreign branches)
TOTAL TIME DEPOSITS (Items 1 to 7 of this schedule).

(Amo unt not to be
e xtended)

FORM R. B. 13 (REVISED DEC. 1935)

REPORT OF NET DEMAND AND TIME DEPOSITS
FOR HALF MONTH ENDING

193

TO ACCOUNTING DEPARTMENT
FEDERAL RESERVE BANK OF NEW YORK
REPORT FIGURES IN NEAREST EVEN HUNDRED AS AT OPENING OF BUSINESS ON DAY INDICATED.
USE SAME FIGURES AS FOR FOLLOWING BUSINESS DAY.
(1)
GROSS DEMAND
DEPOSITS

DATE

(3)
(2)
BALANCES SUBJECT TO (CASH ITEMS IN PROCESS
i IMMEDIATE WITHDRAWAL
OF COLLECTION
DUE FROM OTHER BANKS

FOR SUNDAYS AND HOLIDAYS

NET DEMAND DEPOSITS
COLUMN (I) MINUS
COLUMNS (2 AND 3)

TIME DEPOSITS

18
19

28 j
29

30 •
31

TOTAL
(If gross demand deposits are less than the deductions, net demand
deposits on that date should be shown as zero.)
RESERVE
7% OF $_

3 % OF

AVERAGE

REQUIRED

(AVERAGE NET DEMAND DEPOSITS)

(AVERAGE TIME DEPOSITS)
( AVERAGE RESERVE REQUIRED TO

TOTAL

{ BE ON DEPOSIT WITH THE FEDERAL
( RESERVE BANK OF NEW YORK

Jfo

I HEREBY CERTIFY THAT THE ABOVE STATEMENT IS CORRECT AND IN ACCORDANCE WITH THE BOOKS OF THIS BANK AND THAT
THE FIGURES SHOWN ABOVE UNDER NET DEMAND DEPOSITS AND TIME DEPOSITS RESPECTIVELY HAVE BEEN COMPUTED IN
ACCORDANCE WITH THE FORM PRESCRIBED BY THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM FOR THAT PURPOSE.

THIS REPORT TO BE

OFFICIAL SIGNATURE

FILED BEFORE THE
STH AND 20TH
NAME OF BANK

OF EACH MONTH

http://fraser.stlouisfed.org/
R. B.
13.3-25M-12-3B
Federal
Reserve
Bank of St. Louis

CITY OR TOWN

ORM R. B. IS (REVISED DEC. 1935)

REPORT OF NET DEMAND AND TIME DEPOSITS
193

FOR HALF MONTH ENDING.

TO BUFFALO BRANCH
FEDERAL RESERVE BANK OF NEW YORK
REPORT FIGURES IN NEAREST EVEN HUNDRED AS AT OPENING OF BUSINESS ON DAY INDICATED.
USE SAME FIGURES AS FOR FOLLOWING BUSINESS DAY.
(1)
GROSS DEMAND
DEPOSITS

DATE

(2)
BALANCES SUBJECT TO
IMMEDIATE WITHDRAWAL
DUE FROM OTHER BANKS

(3)
CASH ITEMS IN PROCESS
OF COLLECTION

FOR SUNDAYS AND HOLIDAYS

NET DEMAND DEPOSITS
COLUMN (1) MINUS
COLUMNS (2 AND 3)

TIME DEPOSITS

ao
-

TOTAL
(If gross demand deposits are less than the deductions, net demand
deposits on that date should be shown as zero.)

AVERAGE

RESERVE REQUIRED
7% OF $•

TOTAL

(AVERAGE NET DEMAND DEPOSITS)

$(AVERAGE TIME DEPOSITS)
( AVERAGE RESERVE REQUIRED TO
\ BE ON DEPOSIT WITH THE FEDERAL
( RESERVE BANK OF NEW YORK

THIS REPORT TO BE

OFFICIAL SIGNATURE

FILED BEFORE THE
HTH AND 20TH

NAME OF BANK

OF EACH MONTH

http://fraser.stlouisfed.org/
R. B. 13.3-25M-12-35
Federal
Reserve Bank of St. Louis

CITY OR TOWN

FEDERAL RESERVE BANK
OF NEW YORK

December 30, 1935.
COMPUTATION OF RESERVE TO BE CARRIED WITH THE
FEDERAL RESERVE BANK OF NEW YORK BY MEMBER RANKS
To Member Banks in the
Second Federal Reserve District:
We are sending you under separate cover a supply of the following forms,
to be used in computing and reporting to us your required reserve:
Form B - 15
Form R. B. 20
Form B - 15 has been revised by the Board of Governors of the Federal
Reserve System to conform with the new Regulation D as revised effective January 1,
1936.

Reference is made in this form to Schedules. I, J and K of the quarterly con-

dition report (Form 105) and for your convenience you will find a copy of these
schedules on the back of Form B - 15, This form may be used in computing your required reserve and should not be forwarded to us.
Form R% B. 20 has been revised to show the following information:
1.
2.
3.
4.

Gross demand deposits.
Balances subject to immediate withdrawal
due from other banks.
Cash items in process of collection.
Net demand deposits.

Time deposits.

If, on any given day, a bank's gross demand deposits are less than the allowable
deductions, net demand deposits on that date should be shown as zero.
Beginning January 1, 1936, please compute your required reserve in accordance with the method shown on Form B - 15, and furnish us with your reports of
required reserve on Form R. B. 20.

George L. Harrison,
Governor.

Board of Governors
of the Federal Reserve System
Form B-15
(Revised Dec. 1935)

FEDERAL RESERVE BANK
OF NEW YORK

COMPUTATION OF RESERVE TO BE CARRIED WITH THE
FEDERAL RESERVE BANK BY MEMBER BANKS

(For definitions of the terms gross demand deposits, deductions allowed in computing reserves, cash items in process of collection, net demand deposits and time deposits, see Regulation D of the Board of Governors of the Federal Reserve System)

1. GROSS DEMAND DEPOSITS, including U. S. Government deposits and demand balances of other
banks
!
(See Schedule J of the quarterly condition report for items constituting demand deposits)
(See copy of Schedule J on other side)

2. DEDUCTIONS ALLOWED IN COMPUTING RESERVES:
(a) Balances subject to immediate withdrawal due from other banks* (except balances due from Federal Reserve banks, from foreign banks or branches thereof,
from foreign branches of domestic banks, or from private banks)
$
(Corresponds to item 1 in Schedule I of the quarterly condition report)
(See copy of Schedule I on other side)

(b) Cash items in process of collection, except to the extent included in item 2-a
(including checks with Federal Reserve banks in process of collection and
checks on hand which will be presented for payment or forwarded for collection
on the following business day)
$

(Corresponds to item 2 in Schedule I of the quarterly condition report)
(See copy of Schedule I on other side)

3. NET DEMAND DEPOSITS (item 1 minus item 2)

4. TIME DEPOSITS
(See Schedule K of the quarterly condition report for items constituting time deposits)
(See copy of Schedule K on other side)

5. RESERVE REQUIRED:
(a) On net demand deposits (item 3 above):
Banks in central reserve cities, 13 percent;
Banks in reserve cities, 10 percent;
Banks located elsewhere, 7 percent

(b) On time deposits (item 4 above): 3 percent

(c)

Total reserve to be maintained with Federal Reserve bank

'Including cash items forwarded to a correspondent bank for collection and credit and charged to item "Due from banks."

This form should not be forwarded to the Federal Reserve bank, but is to be used by the member bank
as a guide for figuring its required reserve.
R.B.13-50M-1-35
(REVISED DECEMBER. 1935)

SCHEDULE I—CASH, BALANCES WITH OTHER BANKS, EXCHANGES FOR
CLEARING HOUSE, ETC.

DOLLARS

1. Demand balances with other banks in the United States (except private banks and American branches of foreign
banks):
(a) Due from banks in New York City.—
(&) Due from banks elsewhere in the United States...
2. Cash items in process of collection, including exchanges for clearing house, except to the extent included in
Item 1
SUBTOTAL of Items 1 and 2 (amount deductible from demand deposits in determining amount subject to
reserve).
3. Time balances with other banks in the United States (except private banks and American branches of foreign
banks)

(Amo unt not to be
e xtended)

4. Balances with private banks and American branches of foreign banks
5. Balances with banks in foreign countries (including balances with foreign branches of other American banks but
excluding amounts due from own foreign branches)
6. Cash in vault.
TOTAL of Items 1 to 6 (must agree with Item 9 of "Assets").
SCHEDULE J—DEMAND DEPOSITS (all deposits other than "time deposits" as defined in
Regulation D of the Board of Governors of the Federal Reserve System)
1. Deposits of individuals, partnerships, and corporations (must agree with Item 14 of "Liabilities")
2. United States Government deposits—
3. State, county, and municipal deposits
4. Deposits of other banks in the United States (except private banks and American branches of foreign banks)—.
5. Deposits of private banks and American branches of foreign banks
6. Deposits of banks in foreign countries (including balances of foreign branches of other American banks but excluding amounts due to own foreign branches)
7. Certified and officers' checks, letters of credit and travelers' checks sold for cash, and amounts due to Federal
Reserve Bank (transit account)
TOTAL DEMAND DEPOSITS (Items 1 to 7 of this schedule).

SCHEDULE K—TIME DEPOSITS (as denned in Regulation D of the Board of Governors of the
Federal Reserve System)
1. Deposits (except savings deposits), of individuals, partnerships, and corporations:
(a) Certificates of deposit (other than for money borrowed)
(6) Open accounts
(c) Christmas savings and similar accounts
2. Deposits evidenced by savings pass books

No. of accounts

SUBTOTAL of Items 1 and 2 (must agree with Item
15 of "Liabilities")
3. Postal Savings deposits
4. State, county, and municipal deposits.
5. Deposits of other banks in the United States (except private banks and American branches of foreign banks).
6. Deposits of private banks and American branches of foreign banks
7. Deposits of banks in foreign countries (including balances of foreign branches of other American banks but
excluding amounts due to own foreign branches)
TOTAL TIME DEPOSITS (Items 1 to 7 of this schedule).

(Amo unt not to be
tended)

REPORT OF NET DEMAND AND TIME DEPOSITS

FORM R. B. 20 (REVISED DEC. 183S)

FOR

193

WEEK ENDING FRIDAY__

TO ACCOUNTING DEPARTMENT
FEDERAL RESERVE BANK OF NEW YORK
REPORT FIGURES IN NEAREST EVEN HUNDRED AS AT OPENING OF BUSINESS ON DAY INDICATED.
USE SAME FIGURES AS FOR FOLLOWING BUSINESS DAY.

FOR SUNDAYS AND HOLIDAYS

FIRST PERIOD
ATE

(1)
G R O S S DEMAND
DiEPOSlTS

DAY

(2)
BALANCES SUBJECT TO
IMMEDIATE WITHDRAWAL
DUE FROM OTHER BANKS

(3)
CASH ITEMS IN PROCESS
OF COLLECTION

NET DEMAND DEPOSITS
COLUMN (1) MINUS
COLUMNS (2 AND 3)

TIME DEPOSITS

NET DEMAND DEPOSITS
COLUMN (1) MINUS
COLUMNS (2 AND 3)

TIME DEPOSITS

SAT.
SUN.
MON.
TUES.
TOTAL
<If gross demand deposits are less than the deductions, net demand
deposits on that date should be shown as zero.)

AVERAGE

RESERVE REQUIRED
(AVERAGE NET DEMAND DEPOSITS)

TOTAL.

(AVERAGE TIME DEPOSITS)
AVERAGE RESERVE REQUIRED TO
BE ON DEPOSIT WITH THE FEDERAL
RESERVE BANK OF NEW YORK

SECOND PERIOD
\TE

(1)
GROSS DEMAND
DEPOSITS

DAY

(2)
BALANCES SUBJECT TO
IMMEDIATE WITHDRAWAL
DUE FROM OTHER BANKS

(3)
CASH ITEMS IN PROCESS
OF COLLECTION

WED.
THURS.
FRI.
TOTAL
f

If gross demand deposits are less than the deductions, net demand
deposits on that date should be shown as zero.)

AVERAGE

RESERVE REQUIRED
OR \3<?o OF $ .
(AVERAGE NET DEMAND DEPOSITS)

3% OF $u
(AVERAGE TIME DEPOSITS)

TOTAL

AVERAGE RESERVE REQUIRED TO
BE ON DEPOSIT WITH THE FEDERAL
RESERVE BANK OF NEW YORK

I HEREBY CERTIFY THAT THE ABOVE STATEMENT IS CORRECT AND I N ACCORDANCE W I T H THE BOOKS OF THIS BANK A N D THAT
THE FIGURES S H O W N ABOVE UNDER NET DEMAND DEPOSITS A N D TIME DEPOSITS RESPECTIVELY HAVE BEEN COMPUTED I N
A C C O R D A N C E WITH THE FORM PRESCRIBED BY THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM FOR THAT PURPOSE.

THIS REPORT

OFFICIAL SIGNATURE

TO BE FILED
NOT LATER THAN
NAME OF BANK

MONDAY OF THE
FOLLOWING WEEK

R. B. 20.2-5M-12-3S

CITY OR TOWN

REPORT OF NET DEMAND AND TIME DEPOSITS

FORM R. B. 20 (REVISED D E C 1935)

FOR WEEK ENDING

FRIDAY.

193

TO BUFFALO BRANCH
FEDERAL RESERVE BANK OF NEW YORK

REPORT FIGURES IN NEAREST EVEN HUNDRED AS AT OPENING OF BUSINESS ON DAY INDICATED.
USE SAME FIGURES AS FOR FOLLOWING BUSINESS DAY.

FOR SUNDAYS AND HOLIDAYS

FIRST PERIOD
ATE

(1)
GROSS DEMAND
DEPOSITS

DAY

BALANCES SUBJECT TO
IMMEDIATE WITHDRAWAL
DUE FROM OTHER BANKS

(3)
CASH ITEMS IN PROCESS
OF COLLECTION

NET DEMAND DEPOSITS
COLUMN (1) MINUS
COLUMNS (2 AND 3)

TIME DEPOSITS

NET DEMAND DEPOSITS
COLUMN (1) MINUS
COLUMNS <2 AND 3)

TIME DEPOSITS

SAT.

TUES.
TOTAL
(If gross demand deposits are less than the deductions, net demand
deposits on that date should be shown as zero.)

RESERVE

AVERAGE

REQUIRED

OR 1 3 % OF $L
(AVERAGE NET DEMAND DEPOSITS)

3% OF %.
(AVERAGE TIME DEPOSITS)
AVERAGE RESERVE REQUIRED TO
BE ON DEPOSIT WITH THE FEDERAL
RESERVE BANK OF NEW YORK

TOTAL

SECOND PERIOD
\TE

(1>
GROSS DEMAND
DEPOSITS

DAY

(2)
BALANCES SUBJECT TO
IMMEDIATE WITHDRAWAL
DUE FROM OTHER BANKS

(3)
CASH ITEMS IN PROCESS
OF COLLECTION

WED.
THURS.
FRI.
TOTAL
(If gross demand deposits are less than the deductions, net demand
deposits on that date should be shown as zero.)

AVERAGE

RESERVE REQUIRED
OR 13% OF 9.
(AVERAGE NET DEMAND DEPOSITS)

3 % OF
(AVERAGE TIME DEPOSITS)

TOTAL

i AVERA
AGE RESERVE REQUIRED TO
< BE ON DEPOSIT WITH THE FEDERAL
( RESER
RVE BANK OF NEW YORK

THIS REPORT

OFFICIAL SIGNATURE

TO BE FILED
NOT LATER THAN
NAME OF BANK

MONDAY OF THE
FOLLOWING WEEK

R. B. S0.2-5M-12-3B

CITY OR TOWN

FEDERAL RESERVE BANK
OF NEW YORK

December 31, 1935.

Semiannual Dividend

GENTLEMEN :

The board of directors of Federal Reserve Bank of New York has
declared a thirty-ninth dividend, payable December 31, 1935, at the rate
of 6 per cent per annum on the paid-in capital stock of the bank, for
the period from July 1,1935, to December 31,1935, both dates inclusive.

Your reserve account is therefore being credited today with
, the amount of the dividend due you.

Respectfully,

Governor.

Full text of Federal Reserve Bank of New York Circulars : 1623. Board of Governors of the Federal Reserve System Regulation Q, Effective January 1, 1936

FRASER