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federal

reserve

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Da lla s

FISCA L AGENT O F T H E UNITED STATES
DALLAS. TEXAS 7 5 2 2 2

Circular No. 69-222
September 1, 1969

To the Governing Authority of the State, Municipality,
or Other Political Subdivision Addressed:

On January 1 , 1968, a procedure was adopted to provide, on a
limited basis, for the maintenance of Treasury securities in book-entry
form on the records of this Bank. This procedure has been most successful
and is now being expanded to include Treasury securities deposited with
this Bank as collateral to secure deposits in member banks of public funds
by a State, municipality, or other political subdivision. The attached
Circular No. 69-202 announcing the expansion has been sent to each depos­
itary bank in the Eleventh Federal Reserve District. The enclosures
referred to in the circular are for the use of depositary banks and are,
therefore, not included with this letter.
Under the book-entry procedure, Federal Reserve Banks retire
Treasury securities deposited for custody, and issue in lieu thereof, a
"book-entry" on its records. When such securities are withdrawn from
custody, definitive securities are issued and returned to the depositary
bank. You will note that the expanded book-entry procedure becomes effec­
tive with Treasury securities of the eligible issues on deposit with this
Bank on October 1 , 1969, or are deposited on or after such date. Appro­
priate advice will be furnished as the conversion of present holdings are
made.
Any additional information will be furnished upon request.
FEDERAL RESERVE BANK OF DALLAS
Fiscal Agent of the United States

Enclosure

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


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