The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F ederal reserve bank of Dallas DALLAS. TEXAS 75222 Circular No. 70-155 July 1, 1970 AMENDMENTS TO REGULATIONS D AND Q, (Subordinated Notes and Debentures) To All Member Banks in the Eleventh Federal Reserve District: On June 29? 1970* the Board of Governors of the Federal Re serve System announced the issuance of amendments to Regulations D and Q, effective June 30? 1970, on the subject of subordinated notes and debentures. You were furnished a copy of the BoardTs press statement announcing these amendments in our Circular No. 70-15^. Copies of these amendments for insertion in your ring binder containing the Federal Reserve regulations are attached. For your con venience you will find on the reverse a list of the items which should be included in current versions of Regulations D and Q. We will be pleased to supply any items necessary to bring your copies of the regula tions up to date. Yours very truly, P. E. Coldwell President Attachments This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) CURRENT VERSIONS OF REGULATIONS D AMD Q Current versions of Regulations D and Q, should now consist of the following items: Regulation D Pamphlet Effective February 12, 1970 Supplement Effective February 12, 1970 Amendment to section 20^.1 Effective June 30, 1970 Regulation Q Pamphlet Effective February 12, 1970 Supplement Effective June 2 b , 1970 Amendment to section 217.1 Effective June 30, 1970 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM RESERVES OF MEMBER BANKS A M E N D M E N T TO REGULATION D Effective June 30, 1970, section 204.1(f)(3) is amended to read as follows: (3)(i) Bears on its face, in bold-face type, the following: “This obligation is not a deposit and is not insured by the Federal Deposit Insurance Corporation”; states expressly that it is subordi nated to the claims of depositors and ineligible as collateral for a loan by the issuing bank; is un secured; has an original maturity of 7 years or more; is in an amount of at least $500; and has been approved by the Comptroller of the Currency, in the case of a national bank, or by the Board of Governors, in the case of a State member bank, as an addition to the bank’s capital structure; or (ii) meets all of the requirements in the preceding clause except maturity and with respect to which the Comptroller, in the case of a national bank, or the Board, in the case of a State member bank, has determined that exigent circumstances require the issuance of such obligation without regard to the provisions of this Part; or (iii) was issued or pub licly offered before June 30, 1970, with an original maturity of more than 2 years; or BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM INTEREST ON DEPOSITS A M E N D M E N T TO REGULATION Q Effective June 30, 1970, section 217.1(f)(3) is amended to read as follows: (3)(i) Bears on its face, in bold-face type, the following: “This obligation is not a deposit and is not insured by the Federal Deposit Insurance Corporation”; states expressly that it is subordi nated to the claims of depositors and ineligible as collateral for a loan by the issuing bank; is un secured; has an original maturity of 7 years or more; is in an amount of at least $500; and has been approved by the Comptroller of the Currency, in the case of a national bank, or by the Board of Governors, in the case of a State member bank, as an addition to the bank’s capital structure; or (ii) meets all of the requirements in the preceding clause except maturity and with respect to which the Comptroller, in the case of a national bank, or the Board, in the case of a State member bank, has determined that exigent circumstances require the issuance of such obligation without regard to the provisions of this Part; or (iii) was issued or pub licly offered before June 30, 1970, with an original maturity of more than 2 years; or
@FedFRASER