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F ederal

reserve

Ba n k

DALLAS, TEXAS

of

Dallas

75222

C irc u la r No. 81-8
J a n u a r y 13, 1981

OFFICIAL ANNOUNCEMENT

TO ALL BANKS IN THE
ELEVENTH FEDERAL RESERVE DISTRICT:

The B o ard of D ire c to rs a t its m eeting on D ecem ber 11, 1980,
re e le c te d a ll of the o fficers of th e F e d e ra l R e s e rv e Bank of Dallas a nd its
B ra n c h e s a t El P a so , H ouston, a n d San A ntonio, T e x a s .
A com plete lis t of th e officers of the B ank a nd its B ra n c h e s ,
effective J a n u a r y 1, 1981, is shown on the r e v e r s e of th is c i r c u l a r .
S in c e re ly y o u r s ,
R o b ert H . Boykin
P r e s id e n t

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

FEDERAL RESERVE BANK OF DALLAS
DISTRICT NO. 11
O fficers
Name

Position

R o b e rt H . Boykin -------------------------------------------------William H. W a lla c e -------------------------------------------------Jo s e p h E. B u rn s
-------------------------------------------------G eorge C . C o c h ra n , I I I ------------------------------------------H a rry E. R o b in so n , J r . ---------------------------------------Neil B. R yan -------------------------------------------------------Tony J . S a l v a g g i o -------------------------------------------------R o b ert A . B row n -------------------------------------------------A nthony J . M ontelaro ------------------------------------------L a rr y J . R e c k -------------------------------------------------------G eorge F . R udy ----------------------------------------------------Sammy T . S c h u l z e -------------------------------------------------R o b ert Sm ith, III -------------------------------------------------E. W. V orlop, J r . -------------------------------------------------U zziah A n d e rso n -------------------------------------------------F o r r e s t E. Coleman ----------------------------------------------Billy J . D u s e k -------------------------------------------------------L a r r y N . Hill -------------------------------------------------------R ic h ard D. I n g r a m -------------------------------------------------M ary M . Rosas ----------------------------------------------------Thomas H. R u st ----------------------------------------------------J e s se D . S a n d e rs -------------------------------------------------Phillip E. S e lle rs -------------------------------------------------E. A. T h a x to n , J r . ----------------------------------------------C arla M . W arberg -------------------------------------------------M illard E. Sw eatt, J r . ------------------------------------------C. L. Vick ------------------------------------------------------------

P r e s id e n t
F i r s t Vice P r e s id e n t
S en io r Vice P r e s id e n t
S enio r Vice P r e s id e n t
S enior Vice P r e s id e n t
S enio r Vice P r e s id e n t
S enior Vice P r e s id e n t
G e n era l A uditor
Vice P r e s id e n t
Vice P r e s id e n t
Vice P r e s id e n t and G en eral C ounsel
Vice P r e s id e n t
Vice P r e s id e n t and S e c re ta r y
Vice P r e s id e n t a n d C o n tro lle r
A s s is ta n t Vice P r e s id e n t
A s s is ta n t Vice P r e s id e n t
A s s is ta n t Vice P r e s id e n t
A ss is ta n t Vice P r e s id e n t
A ss is ta n t Vice P r e s id e n t and
A s s is ta n t S e c re ta r y
A s s is ta n t Vice P r e s id e n t
A s s is ta n t Vice P r e s id e n t
A s s is ta n t Vice P r e s id e n t
A s s is ta n t Vice P r e s id e n t
A s s is ta n t Vice P r e s id e n t
A ss is ta n t Vice P r e s id e n t and
A s s is ta n t C o n tro lle r
A s s is ta n t G eneral
C ounsel
A ss is ta n t G en eral
A uditor

El Paso B ra n ch
Joel L. Koonce, J r . ----------------------------------------------R o b ert W. Schultz --------------------------------------------------

Vice P r e s id e n t in C h arg e
A s s is ta n t Vice P r e s id e n t

Houston B ra n c h
J . Z. Rowe -----------------------------------------------------------V erno n L. B artee -----------------------------------------------Sammie C . C lay ---------------------------------------------------C . O. Holt, J r . -----------------------------------------------------

Vice P r e s id e n t in C h a rg e
A ss is ta n t Vice P r e s id e n t
A s s is ta n t Vice P r e s id e n t
A ss is ta n t Vice P r e s id e n t

San Antonio B ra n c h
C arl H. M o o r e -------------------------------------------------------Thomas C . Cole ---------------------------------------------------Thomas H. R o bertson -----------------------------------------J a n u a r y 1, 1981

Vice P r e s id e n t in C h a rg e
A s s is ta n t Vice P r e s id e n t
A s s is ta n t Vice P r e s id e n t

FEDERAL

RESERVE BANK

OF DALLAS
RICHARD
a s s is t a n t

D. I N G R A M

v ic e

p r e s id e n t

AN D
a s s is t a n t

s e c r e t a r y

J a n u a r y 12, 1981

D a l l a s ,t e x a s 752 2 2

To t h e C hief O p e r a t i n g O f f i c e r
of t h e D e p o s i t o r y I n s t i t u t i o n A d d r e s s e d :
The Federal R e s e r v e Bank o f D a llas is c o n s i d e r i n g o f f e r i n g a n e w
c o m m u n i c a t i o n s s e r v i c e that m a y be o f inte r e s t to y o u r f i n a n c i a l i n s t i ­
tution. B a s i c a l l y , this s e r v i c e w o u l d e n a b l e E l e v e n t h D i s t r i c t d e p o s i t o r y
i n s t i t u t i o n s to send and r e c e i v e f unds t r a n s f e r s , and p o s s i b l y o t h e r t ypes
of t r a n s a c t i o n s , on t h e i r own t y p e w r i t e r - 1 ike c o m p u t e r t e r m i n a l s . W h e t h e r
the s e r v i c e will be o f f e r e d d e p e n d s on the e x t e n t of i n t e r e s t e x p r e s s e d by
fina n c i a l i n s t i t u t i o n s such as yours.
A c c o r d i n g l y , this letter b r i e f l y
e x p l a i n s the service, and asks y o u to let us k n o w on the e n c l o s e d s u r v e y
f o r m if y o u r bank w o u l d be i n t e r e s t e d in p a r t i c i p a t i n g .
B e c a u s e f u n d s t r a n s f e r s w o u l d be the m o s t i m p o r t a n t a p p l i c a t i o n
of the serv i c e for m o s t d e p o s i t o r y i n s t i t u t i o n s , t h e s e t r a n s a c t i o n s w o u l d
be m a d e a v a i l a b l e first.
O t h e r t y p e s of t r a n s a c t i o n s w h i c h c o u l d be
s u p p o r t e d in the f u t u r e include s e n d i n g and r e c e i v i n g s e c u r i t i e s t r a n s ­
fers, s e n d i n g and r e c e i v i n g large r e t u r n items ( p r e s e n t l y $ 2 , 5 0 0 or more ) ,
i n q u i r i n g about y o u r r e s e r v e a c c o u n t b a l a n c e at the e n d of the day, p l a c i n g
c u r r e n c y and c o i n o r d e r s , and n o t i f y i n g y o u of the a m o u n t s o f a c c e l e r a t e d
T T & L w i t h d r a w a l s on the e f f e c t i v e date.
T h e use o f e a c h type of
t r a n s a c t i o n w o u l d be optional w i t h e a c h p a r t i c i p a t i n g fina n c i a l i n s t i ­
tution.
A m a j o r a d v a n t a g e o f the s e r v i c e w o u l d be t h a t the p r i n t e d c o pies
of i n c o m i n g and o u t g o i n g t r a n s a c t i o n s f r o m y o u r terminal s h o u l d m i n i m i z e
the pote n t i a l for e r r o r a s s o c i a t e d w i t h verbal c o m m u n i c a t i o n s b e t w e e n y o u r
f inancial i n s t i t u t i o n and us. In a d d i t i o n to i m m e d i a t e r e c e i p t by terminal
o f all t r a n s f e r s c r e d i t e d to y o u r account, a s u m m a r y w o u l d be p r o v i d e d e a c h
d a y l i s ting all t r a n s f e r s sent and r e c e i v e d , p e r m i t t i n g b e t t e r control by
t h o s e r e s p o n s i b l e for m a n a g i n g y o u r fina n c i a l i n s t i t u t i o n ' s c a s h p osition.
A n o t h e r a d v a n t a g e w o u l d be that the t i m e n e c e s s a r y to send and r e c e i v e
t r a n s a c t i o n s , p a r t i c u l a r l y f u n d s and s e c u r i t i e s t r a n s f e r s , shou l d be
s i g n i f i c a n t l y reduced; p r e s e n t t e l e p h o n e p r o c e d u r e s w h i c h i n c lude c o d e
v e r i f i c a t i o n s and c a l l - b a c k s w o u l d be e l i m i n a t e d .
To use this n e w service, y o u r fina n c i a l i n s t i t u t i o n w o u l d need
to lease a terminal f r o m the Federal R e s e r v e Bank of Dallas.
We have
d e t e r m i n e d t h a t the terminal can be leas e d for a b o u t $85 a month.
Your
fina n c i a l i n s t i t u t i o n w o u l d also n e e d a s e p a r a t e local t e l e p h o n e n u m b e r

-

2

-

for the t e r m i n a l , c o s t i n g a b o u t $25 a mont h .
A n y c o s t s incidental to the
i n s t a l l a t i o n or use of the term i n a l itself w o u l d also be the r e s p o n s i b i l i t y
of y o u r fina n c i a l i n s t i tution.
The Federal R e s e r v e Bank of D a llas w o u l d p r o v i d e t o l l - f r e e
t e l e p h o n e line s e r v i c e for y o u r terminal
and the r e q u i r e d c o m p u t e r
r e s o u r c e s to i m p l e m e n t and o p e r a t e this service.
Any necessary training
and i n s t r u c t i o n s w o uld, of c o u rse, also be p r o v i d e d b y our staff.
The terminal at y o u r f i nancial i n s t i t u t i o n w o u l d be c o n n e c t e d to
a t e l e p h o n e line in m u c h the same w a y as a normal t e l e p h o n e , and w o u l d have
its own t e l e p h o n e number.
W h e n one o r m o r e f u n d s t r a n s f e r s o r o t h e r
t r a n s a c t i o n s for y o u r fina n c i a l i n s t i t u t i o n were r e c e i v e d by our comp u t e r ,
y o u r t e r m i n a l ' s t e l e p h o n e n u m b e r w o u l d be a u t o m a t i c a l l y c a l l e d and the
t r a n s a c t i o n s printed.
Your terminal w o u l d not need to be a t t e n d e d to
r e c e i v e and p r i n t t r a n s a c t i o n s .
To send one or m o r e f u n d s t r a n s f e r s or o t h e r t y p e s of t r a n s ­
actions, the i n f o r m a t i o n w o u l d f i r s t be t y ped on y o u r t erminal.
The
t erminal w o u l d a u t o m a t i c a l l y r e c o r d the t r a n s a c t i o n s in m e m o r y d u r i n g this
t y p i n g process. The t r a n s a c t i o n s w o u l d be t r a n s m i t t e d to us by d i a l i n g our
c o m p u t e r ' s t o l l - f r e e n u m b e r on the a s s o c i a t e d tel e p h o n e .
F e a t u r e s o f the
c o m p u t e r i z e d s y s t e m w o u l d m a x i m i z e the s e c u r i t y of all t r a n s a c t i o n s sent
or r e c e i v e d o n y o u r t erminal.
We hope y o u will take a f e w m i n u t e s to c o m p l e t e and r e t u r n the
e n c l o s e d s u r v e y f o r m b y J a n u a r y 23, if p ossible.
If y o u have any q u e s t i o n s
a bout the service, p l e a s e call Mr. Bob B o y a n t o n in o u r T r a n s f e r s of Funds
Division.
Yours v e r y truly,

R i c h a r d D. Ingram
Enclosure

Depository Institution Survey
on
Proposed Communications Service
Dece m b e r , 1980

T o a s s i s t us in e v a l u a t i n g d e p o s i t o r y i n s t i t u t i o n i n t e r e s t in t h e p r o p o s e d
service, p l e a s e c h e c k the a p p r o p r i a t e c o l u m n to i n d i c a t e y o u r t e n t a t i v e p o s i t i o n on e a c h
of the items listed.
T h e n r e t u r n this f o r m in t h e e n c l o s e d p o s t a g e - p a i d e n v e l o p e to:
Mr. R o b e r t E. B o y a n t o n
S u p e r v i s o r , T r a n s f e r s of Funds
Federal R e s e r v e Bank of Dallas
Station K
Dallas, T e x a s
7 5 222

Interested

Not
Inte r e s t e d

Need More
Information

Overall p o s i t i o n on p r o p o s e d s e r v i c e
Inte r e s t in s p e c i f i c t ypes
of t r a n s a c t i o n s :
F u nds t r a n s f e r s
Securities transfers
R e t u r n item a d v i c e s
Reserve account inquiry
C u r r e n c y and c o i n o r d e r s
TT&L withdrawal notification
P l e a s e n o t e a n y o t h e r t y p e s of t r a n s a c t i o n s y o u w o u l d like to see m a d e
__
a v a i l a b l e a n d / o r p r o v i d e c o m m e n t s a b out the p r o p o s e d c o m m u n i c a t i o n s service. _ _ _

Name
Title _ _ _
Institution
Location

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