Full text of District Notices (Federal Reserve Bank of Dallas) : Program for the Further Expansion of the Book-Entry Procedure, Circular No. 75-122

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F e d e r a l Re s e r v e Ba n k
DALLAS, TEXAS

of

Dallas

7S222

C i r c u l a r No. 75-122
A u g u s t 21, 1975

PROGRAM FOR THE FURTHER EXPANSION
OF THE BOOK-ENTRY PROCEDURE

TO ALL MEMBER BANKS IN THE
ELEVENTH FEDERAL RESERVE DISTRICT:
S in c e th e b o o k - e n t r y p r o c e d u r e for G o v e r n m e n t s e c u r i t i e s w a s f i r s t
im p le m e n te d in 1968, t h e r e h a v e b e e n s e v e r a l e x p a n s i o n s to b r o a d e n t h e li s t of
e l i g i b l e U n ited S t a t e s G o v e r n m e n t a g e n c y s e c u r i t i e s a n d to i n c r e a s e th e p u r p o s e s
for w h i c h e l i g i b l e s e c u r i t i e s m a y b e h e ld in b o o k - e n t r y form b y th e F e d e r a l R e ­
serv e Bank.
T e x a s S e n a t e Bill 711 w a s r e c e n t l y s i g n e d into law m a k in g p o s s i b l e a n
a d d i t i o n a l a p p l i c a t i o n o f t h e b o o k - e n t r y p r o c e d u r e . T h e Bill a m e n d s A r t i c l e 2530
of V e r n o n ' s A n n o t a t e d C iv il S t a t u te s so th a t t h e r e is s p e c if i c s t a t u t o r y a u t h o r i t y
to a p p l y t h e b o o k - e n t r y p r o c e d u r e to e l i g i b l e s e c u r i t i e s d e p o s i t e d w ith t h i s B ank
a s c o l l a t e r a l to s e c u r e f u n d s o f t h e S ta te T r e a s u r e r on d e p o s i t in d e p o s i t o r y b a n k s .
A c c o r d i n g l y , all e l i g i b l e s e c u r i t i e s p l e d g e d to th e T r e a s u r e r , S ta t e of T e x a s , a n d
h eld in d e f i n i t i v e form a t th e F e d e r a l R e s e r v e B an k o f D a lla s a n d its B r a n c h e s at
El P a s o , H o u sto n , a n d San A n t o n i o on S e p t e m b e r 2, 1975, will b e c o n v e r t e d to
b o o k - e n t r y form . New a d v i c e s will be i s s u e d to r e f l e c t th e c h a n g e . T h e b o o k e n t r y p r o c e d u r e will a l s o b e a p p l i e d to a n y e l i g i b l e s e c u r i t i e s r e c e i v e d for p l e d g e
o n o r a f t e r t h a t d a t e . T h e form SEC-21 s u p p o r t i n g n e w p l e d g e s h a s b e e n r e v i s e d
to a c c o m m o d a te th e b o o k - e n t r y p r o c e d u r e a n d is a v a i l a b l e on r e q u e s t . New p l e d g e
fo rm s will n o t be r e q u i r e d fo r t h e c o n v e r s i o n o f t h o s e e l i g i b l e s e c u r i t i e s now h e l d .
A n y i n q u i r i e s r e l a t e d to t h e a p p l i c a t i o n o f t h e b o o k - e n t r y p r o c e d u r e
s h o u l d b e d i r e c t e d to C . T . Pat P o w ell, M a n a g e r of th e S e c u r i t i e s D e p a r t m e n t of
th e F e d e r a l R e s e r v e B ank o f D a ll a s , o r to t h e d e p a r t m e n t m a n a g e r r e s p o n s i b l e
for s a f e k e e p i n g a c t i v i t i e s a t t h e El P a s o , H o u sto n , o r S an A n to n io B r a n c h e s .

Sincerely yours,
T. W. Plant
First Vice President

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