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F ederal

reserve

Bank

DALLAS. TEXAS

of

Dallas

75222

Circular No. 80-171
September 8, 1980

MONETARY CONTROL ACT - RESERVE REPORTING

TO THE CHIEF EXECUTIVE OFFICER OF EACH
NONMEMBER COMMERCIAL BANK, SAVINGS
AND LOAN ASSOCIATION, CREDIT UNION, EDGE
ACT AND AGREEMENT CORPORATION IN THE
ELEVENTH FEDERAL RESERVE DISTRICT:
On March 31, 1980 the Monetary Control Act of 1980 was enacted
increasing the responsibilities of the Federal Reserve System. Many institutions,
in addition to member banks, will now be required to file data reports and
maintain reserve balances with a Federal Reserve Bank or branch beginning on
October 30, 1980—or somewhat later for small firms.
In order to aid our
planning for orderly implementation of the Act, we would like to co llect some
basic information from new reporting institutions. Enclosed are two copies of
a one-tim e survey form, an instruction sheet, and a post-paid envelope. One
com pleted copy of this questionnaire should be returned to our Statistical
Department by September 17, 1980.
If actual figures are not available, or would be difficult to calculate
for Section A, please provide estim ates. Nonfederally insured credit unions and
noninsured savings and loan associations should com plete the entire question­
naire. Edge Act and Agreement Corporations need not com plete Sections A and
B.
Nonmember com m ercial banks, insured savings and loan associations, and
federally insured credit unions need not com plete Section B of the questionnaire.
If there are any questions regarding the survey form, they should be directed to
William T. Green, Manager, S tatistical Department, Ext. 6394 or co llect at (214)
651-6394. We appreciate your cooperation.
Sincerely yours,
Ernest T. Baughman
President
Enclosures

Banks and others are encouraged to use the following incoming W A T S numbers In contacting this Bank:
1.800-442-7140 (intrastate) and 1-800-527-9200 (interstate). For calls placed locally, please use 651 plus the
extension referred to above.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

INSTRUCTIONS

Report all dollar amounts to the nearest thousand dollars.

Section A

should reflect data as of the close of business on June 30, 1980, or on the day
nearest to that date for which data are available.
are not available, please provide estimates.

In the event that actual data

Section B should reflect data as of

December 31, 1979.
Deposits denominated in non-U.S. currency should be valued in U.S.
dollars.
Consolidations
U.S. branches and agencies of the same foreign (non-U.S.) bank that
operate within the same State and within the same Federal Reserve District shall
prepare and file this survey on an aggregated basis.
All offices of the same Edge Act or Agreement corporation that operate
within the same State and within the same Federal Reserve District shall prepare
and file this survey on an aggregated basis.
All other depository institutions— i.e., commercial banks, mutual
savings banks, savings and loan associations, and credit unions— shall prepare
a consolidated report that combines amounts outstanding of the following
entities:
(1)

the head office of the reporting institution;

(2)

all branches located in the 50 States of the United States or
the District of Columbia; and

(3)

all operations subsidiaries (other than Edge Act and Agreement
corporations) of the reporting institution that are located in
the 50 States of the United States or the District of Columbia.
An operations subsidiary is defined as a separately incorporated
subsidiary (1) that is majority owned or controlled, either
directly or indirectly, by the depository institution and (2 )
that performs functions that the depository institution is
empowered to perform at locations where the depository institu­
tion is authorized to engage in business. Examples include
credit card companies, mortgage companies, or safe deposit
companies.

-2 -

Item Definitions

For purposes of this survey, item definitions are provided in general
terms.

For more detailed information, please refer to Regulation D, Reserve

Requirements of Depository Institutions.

Detailed instructions for the pre­

paration of reports required for the calculation of required reserves will be
provided at a later date.

Section A, Item 1: Total transaction accounts

Report in this item deposits or accounts on which the depositor or
account holder is permitted to make withdrawals by negotiable or transferable
instruments, payment orders of withdrawal, telephone transfers or other similar
devices for the purpose of making payments to third parties or others.
Transaction accounts include:
1.

demand deposits;

2.

negotiable order of withdrawal (NOW) or share draft accounts;

3.

savings deposits authorized for automatic transfer to demand
deposit or other accounts pursuant to prior written agree­
ment (ATS accounts);

4.

accounts under the terras of which a depositor is permitted
to make more than three preauthorized or telephone trans­
fers per month (whether to another account of the depositor
or to a third party); and

5.

accounts that permit a depositor to make payments to third
parties through automated teller machines or remote service
units.

An account is not regarded as a transaction account merely because it permits
transfers in connection with loans made by the institution itself.

-3-

Sectlon A, Item 2:

Nonpersonal savings deposits not included in Item 1 and

nonpersonal time deposits with original maturities of less than 4 years

Nonpersonal deposits are those in which any beneficial interest is
held by a depositor which is not an individual or sole proprietorship.

A

nonpersonal time or savings deposit does not include funds deposited to the
credit of an Individual Retirement Account or Keogh Plan Account.
A savings deposit is defined as a deposit or account with respect to
which the depositor is not required by the deposit contract but may at any time
be required by the depository institution to give written notice of an intended
withdrawal not less than 14 days before withdrawal is made, and that is not pay­
able on a specified date or at the expiration of a specified time after
of deposit.

the date

A savings deposit includes a regular share account at a credit union

and a regular account at a savings and loan association.
Include in this item all nonpersonal savings deposits that are not
reported in Item 1 as transaction accounts.
A time deposit is defined as funds that the depositor does not have
a right to withdraw for a period of 14 days or more after the date of deposit.
Time deposits include funds:
(1)

payable on a specified date not less than 14 days
after the date of- deposit;

(2 )

payable at the expiration of a specified time not
less than 14 days after the date of deposit;

(3)

payable upon written notice which actually is
required to be given by the depositor not less
than 14 days before the date of repayment; and

-4-

(4)

such as Christmas club accounts and vacation club accounts
that are deposited under written contracts providing that
no withdrawal shall be made until a certain number of
periodic deposits have been made during a period of not
less than three months, even though some of the deposits
are made within 14 days from the end of the period.

A time deposit may be represented by a transferable or nontransferable
instrument, a negotiable or nonnegotiable instrument, a passbook, or otherwise.
A time deposit includes share certificate accounts and certificates of indebted­
ness issued by credit unions, and certificate accounts and notice accounts
issued by savings and loan associations.
Include in this item all time deposits with original maturities of
less than 4 years that were issued to other than individuals or sole pro­
prietorships .

Section A, Item 3:

Vault Cash

Report in this item all United States currency and coin owned and
held by the reporting institution that

may be used to satisfy a depositor's

claims except such currency and coin whose numismatic or bullion value is
substantially in excess of its face value.

All foreign (non-U.S.) currency

and coin is excluded from vault cash.

Section B, Item 1:

Total Deposits

Report in this item the sum of total transaction accounts (as
defined in Section A, Item 1 above); total savings deposits (as defined in
Section A, Item 2 above) that are not classified as transaction accounts,
whether personal or nonpersonal; and total time deposits (as defined in
Section A, Item 2 above), whether personal or nonpersonal and regardless
of maturity.

Section C.

Depository institutions that are not members of the Federal Reserve
System and that must maintain required reserve balances in excess of vault
cash may elect to maintain such balances directly with the Federal Reserve
Bank or, alternatively, to pass such balances through a correspondent to the
Federal Reserve Bank.

The correspondent may be a Federal Home Loan Bank, the

National Credit Union Administration Central Liquidity Facility, or an
institution that holds a reserve balance directly with the Federal Reserve.
In this Section, please indicate how the required reserve balances
(if any) of your institution are expected to be maintained, and provide certain
information regarding the selection of a pass-through correspondent, if
appropriate.

The information provided in this section will be verified by

the Reserve Bank shortly before implementation of the Monetary Control Act
of 1980.

Section D, item 1 :

additional information

The Federal Reserve Bank will be glad to provide financial
institutions with additional information on our various services.

You should

indicate in the appropriate box or boxes in this section if your institution
is interested in receiving detailed information on Federal Reserve services.

Section D. item 2:

normal business hours

The Federal Reserve Bank and its branch offices are normally open from
8:00 a.m. to 5:00 p.m., local time, Monday through Friday.

If we need to contact

your institution for any reason, we will usually try to reach you during these

-6 -

hours.

Please provide the days and hours that your institution is open for

business and we will schedule any telephone calls to reach you during your
usual business hours.

Section D, item 3, after-hours telephone numbers

Please list any "after-hours" telephone numbers your institution
maintains.

Some institutions close their switchboards during the day, or are

open for business a limited number of hours.

We find it convenient to have

a file of "after-hours" telephone numbers, so that we can resolve major
problems without delay.

Federal Reserve Bank of Dallas
Form STAT - 120

ONE-TIME SURVEY OF TRANSACTION ACCOUNTS, OTHER DEPOSITS, AND VAULT CASH

This report is required by law (12 U.S.C. §2i+8(a) and §U6l).

The Federal Reserve Bank regards the information provided by
each respondent as confidential. If it should be determined
subsequently that any information collected on this form must
be released, respondents will be notified.

Name and mailing address of institution
completing this survey (please print)

Name and title of person to be
contacted about this report
(please print)

Telephone number (including
area code and extension)

PLEASE READ INSTRUCTIONS PRIOR TO COMPLETING FORM

Outstandings
as of June 30, 1980
(in thousands of dollars)
Section A :
1.

To be completed by all respondents.

Total transaction accounts

2 . Siam of total nonpersonal savings deposits
(including share accounts) not included in Item

1 above and total nonpersonal time deposits
(including share certificates and certain
certificates of indebtedness) with original
maturities of less than
years.
3.

Vault cash (U.S. currency and coin)

-2 -

Outstandings
as of December 31, 1979
(in thousands of dollars)

Section B: To be completed only by non-FSLIC
insured savings and loan associations and
cooperative banks and by non-Federally insured
credit unions.
1.

Total deposits.

____________

Section C: To be completed by any institution,
other than a current member of the Federal
Reserve System, that currently has transaction
accounts or nonpersonal time and savings
deposits or that expects to have such deposits
in the near future. The information provided
below should reflect the institution's plans
at this time. Verification of this information
will be requested by the Reserve Bank shortly
before implementation of the Monetary Control
Act of 1980.
1.

How does your institution plan to maintain its reserve
balances required by the Federal Reserve System?
(Please check one box).

___ Vault cash only (all reserve requirements will be satisfied
I 1 by vault cash).
Vault cash plus a reserve balance:
| | Deposited directly with theFederalReserve Bank.

| | Passed through a correspondent to the Federal

Reserve Bank.

| ] Undecided at this time.
2.

If you expect to hold required reserve balances on a pass-through basis,
have you selected or decided on an institution to serve as pass-through
correspondent?

|

1Yes

] |No
__

-3-

If no, you are reminded that pass-through arrangements must be completed by
October 1, 1980. If yes, please indicate below who you expect the correspondent
will be.

Name of correspondent institution

Mailing address

City, state, zip code

Section D :
1.

To be completed by all respondents.

We have recently mailed to you our new Regulation A which describes
the loans service of the Federal Reserve Banks. We will soon mail our
new Regulation D which describes reserve requirements. Also, we will
soon mail an announcement of other services and the prices at which
they are available. Please indicate those Federal Reserve services
which your institution may be interested in using by placing an "X"
in the appropriate box.

□
□
□
□
□
□
□
□
□
□

discount window
currency and coin transportation
check clearing and collection
wire transfer of funds
automated clearing house (ACH)
net settlement
noncash collection
purchase and sale of securities
safekeeping of securities
transfer of securities

- h -

2.

List below the days of the week and hours of the day that you are
normally open for business.

3.

List any after-hours telephone number or numbers that the Federal
Reserve may use to contact your institution if we have questions
regarding reserve reporting or maintenance.

U.

List your institution's ABA routing number (9-digxt routing, identification,
and check digit number), if you have one.

PLEASE RETURN ONE COPY OF THE SURVEY FORM TO THE STATISTICAL DEPARTMENT,
FEDERAL RESERVE BANK OF DALLAS, STATION K, DALLAS, TEXAS 75222 BY
WEDNESDAY, SEPTEMBER IT, 1980.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102