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F ederal R eserve B ank
,
OF DALLAS
December 10, 1923.

TO THE MEMBER BARK ADDRESSED:
There is enclosed a supply of Form B-62, "Report of Net
Deposits," for use commencing the first period in January, 1924.
Any cf the forms now in use which are on hand should be destroyed
after the last report for this year has been rendered.
A formula
for calculating demand and time deposits on which member banks are
required to carry a reserve appears on the reverse side of the new
form, and it is suggested this formula be followed in detail in
preparing reports of net deposits.
From a recent analysis of reports of net deposits it was
found that a great many barks were not thoroughly familiar with
the manner in which such reports should be prepared and as a
matter of information, the items which were most often reported
incorrectly are listed below:
UNPAID DIVIDENDS.

This item should be reported
as a demand deposit.

DIFFERENCE BETWEEN "DUE TO" BANKS AND "DUE FROM"
BANKS.
This should be added to demand deposits
when the total "Due to" banks is in excess of the
total "Due from" banks.
Should the aggregate
amount "Due from" banks exceed the aggregate
amount "Due to" banks, both amounts must be
omitted from the calculation.
CERTIFICATES CF DEPOSIT HAVING LESS TUAN THIRTY DAYS
TO RUN,
These should be reported as demand deposits.
CASHIER’S CHECKS.
These should be taken into con­
sideration only in the total "Due to" banks and
should not be otherwise reported as demand deposits.
Section 19 of the Federal Reserve Act provides, in part
as follows:
*
1
"Demand deposits within the meaning of this
Act shall comprise all deposits payable within
thirty days, and time deposits shall comprise
all deposits payable after thirty days, all
savings accounts and certificates of deposit
which are subject to not less than thirty days'
notice before payment, and all postal savings
deposits."

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


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