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F ederal Reserve Ban k of Dallas DALLAS, TEXAS 75222 C i r c u l a r No. 78-60 May 16, 1978 ANNUAL PERCENTAGE RATE CALCULATION—COMPUTER PROGRAM TO ALL MEMBER BANKS IN THE ELEVENTH FEDERAL RESERVE DISTRICT: T h e Federal R e s e r v e B ank of Dallas u tiliz e s a FORTRAN c o m p u te r p ro g ra m r e c e iv e d from th e Board of G o v e rn o rs of th e Federal R e s e r v e System to c alcu late th e actual Annual P e r c e n ta g e Rate of c o n s u m e r installm ent loans made by member b a n k s . T h e p r o g ra m a c c e p ts c a r d in p ut c o n ta in in g data a b o u t one o r more loans in q u e s ti o n . C alculations a r e m ade, a n d a r e p o r t is p r i n t e d d is c lo s in g the actual Annual P e rc e n ta g e Rate on a g iv e n loan a n d th e a d ju s tm e n t of p a y m e n ts n e c e s s a r y in o r d e r to satisfy a specific ra te . T h e Board h a s r e c e n tly a u th o r iz e d th e r e le a s e of the p r o g r a m to member b a n k s . T h e p r o g r a m sho u ld p r o v e useful p r i m a r i l y in allow ing each m em ber b a n k to d e te rm in e the a c c u r a c y of its own Annual P e r c e n ta g e Rate c a l c u la tio n s . T h e p r o g r a m will be re le a s e d in th e form of a s o u rc e c a r d d e ck w hich is compiled on an IBM 370/158 u n d e r MVS re le a s e 3.7 u s in g the FORTRAN G c o m p ile r. P r o c e d u r e s for u s e , to g e th e r with sam ple test c a s e s , will a lso be p r o v i d e d . In view of t h e p o s s ib ility th a t e r r o r s may o c cu r w h e n u s e r b a n k s in stall the Fed eral R e s e r v e S y s te m 's A nnual P e rc e n ta g e Rate c o m p u te r p r o g r a m into th e ir own c o m p u te r co n fig u ra tio n a n d o p e r a tio n s , the Federal R e s e rv e Bank of Dallas will not a s s u m e r e s p o n s i bility for th e a c c u r a c y of r e s u l t s o b tain ed by a b a n k th r o u g h the u s e of the p r o g r a m . T h e p a r t i c u l a r s of the limitations of r e s p o n s ib il ity will b e fu r n is h e d those b a n k s re q u e s ti n g the program . Any m em ber b a n k d e s i r i n g the p r o g r a m sh o u ld c o n ta ct by letter this B a n k 's C o n su m e r Affairs S e ction , Fed eral R e s e r v e Bank of D allas, Station K, D allas, T e x a s 75222. No c h a r g e will be made for th e p r o g r a m . S in c e r e ly y o u r s , R o b ert H . Boykin F ir s t Vice P r e s id e n t Banks and others are encouraged to use the following incoming W A T S numbers in contacting this Bank: 1 -8 00 -492 -440 3 (intrastate) and 1 -8 00 -527 -497 0 (interstate). For calls placed locally, please use 651 plus the extension referred to above. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
@FedFRASER