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F e d e r a l R e s e r v e B a n k o f D a lla s DALLAS. TEXAS 75222 Circular No. 82-151 N ovem ber 22, 1982 BULLETIN 4 RESERVES OF DEPOSITORY INSTITUTIONS TO ALL DEPOSITORY INSTITUTIONS IN THE ELEVENTH FEDERAL RESERVE DISTRICT: A revised Bulletin 4, R e se r v es o f D epository Institutions, has been prepared e f f e c t i v e D e c e m b er 1, 1982. This Bulletin has been revised in order to provide a clearer and more co n c ise p resen tation o f the subject and is merely a form alization o f procedures currently in place. Q uestions regarding the Bulletin should be directed to Evelyn Thomas, (214) 651-6132 or Allan N eale, (214) 651-6334 at the Head O ffice; Ralph Olivas or Javier J im e n e z at the El Paso Branch, (915) 544-4730; Shirley H ancock or Rodney Franklin at the Houston Branch, (713) 659-4433; and P at Schultz or Jack Sprawling at the San Antonio Branch, (512) 224-2141. Additional copies o f this circular and enclosure will be furnished upon request to the D ep artm en t o f C om m unications, Financial and Com m unity Affairs, Extension 6289. Sin cerely yours, William H. Wallace First Vice President Enclosure Banks and others are encouraged to use the following incoming W A TS numbers in contacting this Bank: 1-800-442-7140 (intrastate) and 1-800-527-9200 (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) BULLETIN 4 Reserves of Depository Institutions FEDERAL RESERVE BANK OF DALLAS SCOPE This bulletin sets forth g en e ral inform ation p ertain in g to re serv e b ala n ces that depository institutions a re re q u ire d by Section 19 of the F ederal R eserve Act an d Regulation D ol the B oard of G overnors of the Federal R eserve System to m aintain with this bank. TABLE OF CONTENTS 3 .1 5 C orrect completion ol FR 2 9 0 0 Report S e c t io n 1, DEFINITIONS 1.0 0 FR 2 9 0 0 Report 1 .0 5 Computation Period S e c tio n 4, RESERVE COM PUTATION 1.10 M ain ten a n ce Period 4 .0 0 How to com pute reserv es 4 .0 5 Period to which com putation applies 4 .1 0 Reserve b alan ce 1.1 5 R eference to Bulletin 1 S e c t io n 2, REFERENCES S e c t io n 3, FR 2 9 0 0 REPORT S e c tio n 5, PENALTIES 3 .0 0 Submission of FR 2 9 0 0 Report 3 .0 5 FR 2 9 0 0 Report determ in es re s e rv e 5 .0 0 5 .0 5 5 .1 0 5 .1 5 re q u irem en t 3 .1 0 D eterm ination of b ala n ces at close of the banking day 1 2 -8 2 i Penalties lor re serv e deficiencies A ssessm ent of penalties Penalty r a te W a iv er of penalties B U LLE TIN 4 FEDERAL RESERVE BAN K OF DALLAS S e c t io n 1, DEFINITIONS 1 .0 0 FR 2 9 0 0 R ep o rt “ FR 2900 R ep o rt” m eans the Report of T r a n s a c tion Accounts, O th er Deposits an d Vault Cash, Form FR 2900, sufficient copies of w hich a re a n nually supplied to depository institutions and e x tr a copies of w hich may be o b tain ed from this b ank as needed. 1 .0 5 C o m p u ta tio n P er io d “ Computation P eriod" (for weekly re p o rters) m ean s the seven-day re serv e period which ends at the close of business ea c h W ed n esd ay an d lor which the FR 2900 Report is subm itted. (See Sup plem ent A for c u r re n t schedule) “ Computation P erio d ” (for q u a rte rly re p o rters) m ean s the seven-day re se rv e period th a t begins on the third T h u rsd ay of a given month during the c a le n d a r q u a r te r b a se d upon the com putation period schedule applicable to the reporting group lo w hich the depository institution is assigned. 1'he depository institutions th at quality u n d er Section 204.3(d) of Regulation D in this District are assigned to a reporting group in o rd e r to report once during ea ch c a le n d a r q u a rte r. (See Supple m ent B for c u r re n t schedule) 1 .1 0 M a in t e n a n c e P eriod “ M ain ten an ce Period” (for weekly rep o rters) m eans the seven-day reserv e period beginning eight c a le n d a r d ays an d ending fourteen c a le n d a r days afte r the close of the com putation period. It is the period during which the re s e rv e re q u irem ents com puted from the FR 2900 Report lor the com putation period must be m aintained. “ M ain ten a n ce P erio d ” (for q u arte rly re p o rters) m eans the seven-day re serv e p eriod th at begins on the fourth T h u rsd ay following the end of the in stitu tio n ’s com putation period a n d ends on the th ird W e d n e s d a y a f te r the clo se ot the institution's next com putation period. During these m ain ten an ce periods, the reserv e re q u irem ents com puted lrom the FR 2900 Report tor the com putation p eriod must be m aintained. For q u a rte rly re p o rters, ea ch seven-day reserv e m ain ten an ce period s ta n d s alone in the d e te r m ination ol the a d e q u a te m a in te n a n c e of reserves. However, q u a rte rly re p o rte rs benefit lrom the lact that the reserv e req u irem en t does not tlu ctu ate lrom one seven-day m ain ten an ce period to an o th er during the q u a rte r. 1.15 R e f e r e n c e to B u lle tin 1 Several definitions, rules of construction, and other provisions applicable to this bulletin a re lound in our Bulletin 1, "G eneral Provisions,” and a re in co rp o rated herein by re leren ce. S e c tio n 2, REFERENCES S ec tio n 204.2 o f R eg u la tio n D d e fin e s : (1) (2) (3) (4) (5) various classes ol deposits cash items in pro cess ol collection tran sactio n accounts nonpersonal time deposits vault cash O ther re la ted therein. delim tions a re also provided S ec tio n 3, FR 2 9 0 0 REPORT 3 .0 0 S u b m is sio n o f FR 2 9 0 0 Report Each w eekly reporting depository institution shall send this bank a weekly FR 2900 Report. This Report should be sent as soon as p ra c tic a b le a lte r the close ol business ea ch W ednesday. Each q u a rte rly reporting depository institution should submit the FR 2900 Report as soon as p ra c tic a b le a lte r the close ol business on W ednesday of the q u a rte rly com putation period. B U LLE TIN 4 FEDERAL RESERVE B A N K OF D ALLA S 3 .0 5 FR 2 9 0 0 R ep o rt d e t e r m in e s r e s e r v e r e q u ir e m e n t The FR 2900 R eport of a depository institution will determ in e th e am ount of re se rv e s re q u ire d to be m ain tain ed in its re serv e b ala n ce for the M ain ten a n ce Period. As provided in Section 204.3(c) of Regulation D, the re se rv e req u irem en ts of depository institutions a r e d ete rm in e d on the b a s is of a v e rag e daily deposit b a la n c e s an d a v e ra g e daily vault c a s h during the Computation Period, as set out in the FR 2900 Report for th a t period. 3 .1 0 D e te r m in a tio n o f b a la n c e s a t c l o s e o f th e b a n k in g d ay The b a la n c e for e a c h day should reflect the b a la n c e at the close of business th a t day. The b a la n c e for a non-banking day will be identical with th e b ala n ce for the im mediately preceding banking day. W e com pute e a c h depository institu tion’s b ala n c e with us a t our close of business e a c h day. 3 .1 5 C o rr ec t c o m p le t io n o f FR 2 9 0 0 R ep ort Detailed instructions for the p re p a ra tio n of the FR 2900 Report, including a glossary of term s, are fu rn ish ed to all reporting depository institutions. S e c t io n 4 , RESERVE COM PU TA TION 4 .0 0 H o w to c o m p u t e r e s e r v e s A formula is provided in the M an u al for R eserve Computation a n d Reserve M ain ten a n ce for use in determ ining the am ount of re serv e s a depository institution m ust m aintain w ith us. Depository in stitutions a r e en c o u rag e d to m aintain c u r re n t com putations of th eir re q u ir e d re s e rv e s so th a t they will be a w a re of th eir re q u ire d re se rv e posi tion, a n d be able to verify the re q u ire d re serv e s show n on the P restatem en t. A copy of the M an u al is available upon req u est. 4 .0 5 P e r io d to w h i c h c o m p u ta tio n a p p lie s For weekly re p o rte rs , th e re s e rv e com putation m ad e by a depository institution re p re s e n ts the re se rv e s re q u ire d to be m ain tain ed during the M ain ten a n ce Period, the second re s e rv e period following the Computation Period. For q u a rte rly re p o rte rs , the re la te d seven-day m ain ten an ce p eriods begin on th e fourth T h u rsd a y following the en d of the in stitu tio n ’s com putation p erio d an d end on the th ird W ed n esd ay a fte r the close of the institu tio n ’s n ext com putation period. 4.10 R e s e r v e b a la n c e The re se rv e b a la n c e of a depository institution shall consist of the depository in stitution’s a v e ra g e daily b ala n ce w ith this ban k a t the close of b u sin ess e a c h d ay d u rin g the r e la te d M ain ten a n ce Period. S e c t io n 5, PENALTIES 5.00 P e n a lt ie s fo r r e s e r v e d e f ic i e n c i e s Depository institutions will be notified in writing of any re s e rv e deficiency. Any ex cess o r defi ciency of a depository in stitution’s re q u ire d re serv e s will be c a r r ie d fo rw a rd to the following re serv e m ain ten a n ce period to the e x te n t su ch ex cess or deficiency does not ex c eed 2% of the re serv e s re q u ired in the m ain ten an ce p eriod in which the ex cess or deficiency o ccu rred . Any e x cess o r deficiency g r e a te r th an 2% will not be c a r r ie d fo rw ard . Any portion of the 2% allowable ex cess or deficiency not offset in the immediately following re serv e m ain ten a n ce p eriod may not be a g a i n c a r r i e d f o r w a r d to s u b s e q u e n t m ain ten a n ce periods. 5.05 A s s e s s m e n t o f p e n a lt ie s A deficiency penalty will be asse sse d on the 25th day of the m onth following the month in which one or m ore re s e rv e deficiencies a r e in cu rred . If the 25th day of the m onth is on a non-banking day, the p en alty will be a s s e ss e d on the first banking day p receding the 25th. B U LLETIN 4 FEDERAL RESERVE B A N K OF D A LLA S 5 .1 0 P e n a lty r a t e P enalties a re as s e ss e d a t a r a te of 2% p e r annum g re a te r th an the c u r re n t discount ra te , a s s ta te d in th e Supplem ent A to Bulletin 2, in effect on the first day of the c a le n d a r m onth in w hich the defi ciency or deficiencies occu rred . 5 .1 5 W a iv e r o f p e n a lt ie s This ban k h a s d iscre tio n a ry pow er to w aive p en alties for deficiencies, a n d su ch p o w er shall be e x e rc is e d on a case-by-case b asis w ith p a r ticu lar attention given to in stan ces in w hich the p en alty would be small a n d the depository institu tion is making a p p ro p ria te efforts to m aintain ad e q u a te reserv es. 12-82 3 B U LLE TIN 4 FEDERAL RESERVE B A N K OF DALLA S SUPPLEMENT A FOR WEEKLY REPORTERS 1983 SCHEDULE OF COMPUTATION AND RELATED RESERVE MAINTENANCE PERIODS (For R eserves Held Directly w ith FRB or on Pass-Through) Reports of T ra n sactio n Accounts, O th er Deposits a n d Vault Cash, Form FR 2900, (and re la te d re p o rts, if applicable) should be m ailed as soon as possible afte r th e e n d of the com putation period. Listed below a r e the p eriods u sed for computing re q u ire d r e s e rv e s a n d the re la te d p erio d s in w hich the re q u ire d re s e rv e s m ust be m aintained. COMPUTATION PERIOD RELATED MAINTENANCE PERIOD For Reporting T ra n sa c tio n A ccounts, O th er Deposits a n d Vault Cash For M ain tain ed R eserves Begins Ends Begins Ends 12/23/82 12/30/82 1/ 6/83 1/13/83 1/20/83 1/27/83 21 3/83 2/10/83 2/17/83 2/24/83 3/ 3/83 3/10/83 3/17/83 3/24/83 3/31/83 4/ 7/83 4/14/83 4/21/83 4/28/83 5/ 5/83 5/12/83 5/19/83 5/26/83 6/ 2/83 6/ 9/83 6/16/83 6/23/83 6/30/83 12/29/82 1/ 5/83 1/12/83 1/19/83 1/26/83 21 2/83 21 9/83 2/16/83 2/23/83 3/ 2/83 3/ 9/83 3/16/83 3/23/83 3/30/83 4/ 6/83 4/13/83 4/20/83 4/27/83 5/ 4/83 5/11/83 5/18/83 5/25/83 6/ 1/83 6/ 8/83 6/15/83 6/22/83 6/29/83 7/ 6/83 1/ 6/83 1/13/83 1/20/83 1/27/83 21 3/83 2/10/83 2/17/83 2/24/83 3/ 3/83 3/10/83 3/17/83 3/24/83 3/31/83 4/ 7/83 4/14/83 4/21/83 4/28/83 5/ 5/83 5/12/83 5/19/83 5/26/83 6/ 2/83 6/ 9/83 6/16/83 6/23/83 6/30/83 7/ 7/83 7/14/83 1/12/83 1/19/83 1/26/83 2/ 2/83 2/ 9/83 2/16/83 2/23/83 3/ 2/83 3/ 9/83 3/16/83 3/23/83 3/30/83 4/ 6/83 4/13/83 4/20/83 4/27/83 5/ 4/83 5/11/83 5/18/83 5/25/83 6/ 1/83 6/ 8/83 6/15/83 6/22/83 6/29/83 7/ 6/83 7/13/83 7/20/83 B U LLE TIN 4 FEDERAL RESERVE B A N K OF D ALLA S 12-82 COMPUTATION PERIOD RELATED MAINTENANCE PERIOD For Reporting T ra n s a c tio n Accounts, O th er Deposits a n d V ault Cash For M ain tain ed Reserves Begins Ends Begins Ends 71 7/83 7/14/83 7/21/83 7/28/83 8/ 4/83 8/11/83 8/18/83 8/25/83 9/ 1/83 9/ 8/83 9/15/83 9/22/83 9/29/83 10/ 6/83 10/13/83 10/20/83 10/27/83 11/ 3/83 11/10/83 11/17/83 11/24/83 12/ 1/83 12/ 8/83 12/15/83 12/22/83 12/29/83 1/ 5/84 1/12/84 1/19/84 1/26/84 2/ 2/84 7/13/83 7/20/83 7/27/83 8/ 3/83 8/10/83 8/17/83 8/24/83 8/31/83 9/ 7/83 9/14/83 9/21/83 9/28/83 10/ 5/83 10/12/83 10/19/83 10/26/83 11/ 2/83 11/ 9/83 11/16/83 11/23/83 11/30/83 12/ 7/83 12/14/83 12/21/83 12/28/83 11 4/84 1/11/84 1/18/84 1/25/84 2/ 1/84 2/ 8/84 7/21/83 7/28/83 8/ 4/83 8/11/83 8/18/83 8/25/83 9/ 1/83 9/ 8/83 9/15/83 9/22/83 9/29/83 10/ 6/83 10/13/83 10/20/83 10/27/83 11/ 3/83 11/10/83 11/17/83 11/24/83 12/ 1/83 12/ 8/83 12/15/83 12/22/83 12/29/83 1/ 5/84 1/12/84 1/19/84 1/26/84 2/ 2/84 2/ 9/84 2/16/84 7/27/83 8/ 3/83 8/10/83 8/17/83 8/24/83 8/31/83 9/ 7/83 9/14/83 9/21/83 9/28/83 10/ 5/83 10/12/83 10/19/83 10/26/83 11/ 2/83 11/ 9/83 11/16/83 11/23/83 11/30/83 12/ 7/83 12/14/83 12/21/83 12/28/83 1/ 4/84 1/11/84 1/18/84 1/25/84 2/ 1/84 2/ 8/84 2/15/84 2/22/84 A-2 B U LLE TIN 4 FEDERAL RESERVE B AN K OF DALLA S SUPPLEMENT B FOR QUARTERLY REPORTERS 1983 SCHEDULE OF COMPUTATION A N D RELATED RESERVE MAINTENANCE PERIODS (For R eserves Held Directly w ith FRB or on Pass-Through) R eports of T ra n s a c tio n Accounts, O ther Deposits a n d Vault Cash, Form FR 2900, (and re la te d re p o rts, if applicable) should be m ailed as soon a s possible a fte r the en d of th e com putation period. Listed below a r e the p eriods u se d for computing re q u ire d re s e rv e s a n d th e re la te d periods in w hich the re q u ire d re s e rv e s m ust be m aintained. GROUP “A ” COMPUTATION PERIOD MAINTENANCE PERIOD J an u a ry 20 - Jan u ary 26, 1983 April 21 - April 27, 1983 July 21 - July 27, 1983 O ctober 20 - O ctober 26, 1983 F e b ru a ry 17 - M ay 18, 1983 M ay 19 - August 17, 1983 August 18 - November 16, 1983 November 17 - F eb ru a ry 15, 1984 G R O U P “B” COMPUTATION PERIOD MAINTENANCE PERIOD F e b ru a ry 17 - F e b ru a ry 23, 1983 M ay 19 - M ay 25, 1983 August 18 - August 24, 1983 Novem ber 17 - November 23, 1983 M a rc h 17 - June 15, 1983 June 16 - S eptem ber 14, 1983 S eptem ber 15 - D ecem ber 14, 1983 D ecem ber 15 - M a rc h 14, 1984 G R O U P “C” COMPUTATION PERIOD MAINTENANCE PERIOD M a rc h 17 - M a rc h 23, 1983 June 16 - June 22, 1983 S eptem ber 15 - Septem ber 21, 1983 D ecem ber 15 - D ecem ber 21, 1983 April 14 July 14 O ctober Jan u ary 12-82 B-1 - July 13, 1983 O ctober 12, 1983 13 - January 11, 1984 12 - April 11, 1984
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