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Federal reserve Bank OF DALLAS Dallas, Texas, October 6,1944 METHOD OF REPORTING REDEEMED UNITED STATES SAVINGS BONDS IN RENDERING REPORTS OF DEPOSITS AND CONDITION REPORTS To Member Banks in the Eleventh Federal Reserve District: This refers to Treasury Department Circular No. 750 and related docu ments regarding the redemption of United States savings bonds on and after October 2,1944. Inquiries have been received as to how member banks should report bonds redeemed in reports of condition, whether the redemp tion will affect net demand deposits subject to reserve, and how reimburse ments received for services in paying bonds should be shown in reports of earnings and dividends. If the banks’ practice is to forward the bonds daily or every other day, the redeemed bonds should be reported as cash items in process of collection in weekly and semimonthly reports of deposits submitted for reserve pur poses and in call reports of condition. If the banks’ practice is to hold the bonds for a longer period, the redeemed bonds should be reported as cash items not in process of collection, Schedule H, item 4, in call reports of con dition, until such time as they are forwarded for collection, when, as de scribed above, they should be reported as cash items in process of collection. The reimbursements received for services in paying savings bonds should be reported in earnings and dividends reports against item 1(e), other service charges, commissions, fees, collection and exchange charges, etc. Yours very truly, R. R. GILBERT President ICTORY BUY V K IT 6D STATES W AR BO N D S AMO STAMPS This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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