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Federal r e s e r v e Ba n k of D allas DALLAS, TEXAS 75222 C ircu lar No. 80-180(C ) September 19, 1980 MONETARY CONTROL ACT - RESERVE REPORTING TO THE CHIEF EXECUTIVE OFFICER OF AFFECTED MEMBER BANKS IN THE ELEVENTH FEDERAL RESERVE DISTRICT: On March 31, 1980 the Monetary Control Act of 1980 was enacted, extending reserve requirements to nearly all depository financial institutions. The Act requires member banks to continue filing data reports with a Federal Reserve Bank or Branch office. The Federal Reserve uses this information to compute the amount of reserves that your bank will be required to maintain. This procedure is described in Federal Reserve Regulation D which was distributed to your bank with our Circular 80 170 of September 9, 1980. Enclosed are copies of two Federal Reserve reporting forms, and an instruction booklet. The forms are: (1) Report of Transaction Accounts, Other Deposits and Vault Cash (FR 2900) (2) Report of Certain Eurocurrency Transactions (FR 295>0) Your bank is required by Regulation D to continue filing weekly reserve reports with the Federal Reserve office indicated on the report form. However, the Federal Reserve reduced the frequency of data reporting under the Act for some smaller financial institutions. Member banks, such as yours, that had total deposits of $1 million or more, but less than $5 million, on December 31, 1979 will file weekly FR 2900 reports through the end of 1980. During January 1981, your bank will shift from weekly reporting to quarterly reporting. Aspecific reporting and reserve maintenance schedule will be sent to you shortly. A copy of form FR 2950 must also be filed if your bank had any eurocurrency borrowings during a reserve computation period. A bulk supply of reporting forms, pre-addressed envelopes and additional information will be sent to your bank under separate cover at a later date. The forms will be identical to those enclosed, except that identification labels will be affixed to the supply of FR 2900 forms. If there are any questions regarding the report forms or instructions, they should be directed to the Statistical Department at the Dallas Office (214) 651-6141 or Ext. 6142; or to the Accounting Department at the Houston Office, (713) 659-4433; San Antonio Office, (512) 224-2141; or El Paso Office, (915) 544-4730. Sincerely yours, Ernest T. Baughman President Enclosures Banks and others are encouraged to use the following incoming W AT 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)
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