Full text of District Notices (Federal Reserve Bank of Dallas) : Continued Reporting of Eurodollar Borrowings, Circular No. 78-137

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F ederal R eserve Bank o f D allas
DALLAS, TEXAS

75222

C irc u la r No. 78-137
October 2, 1978

CONTINUED REPORTING OF EURODOLLAR BORROWINGS

TO A LL MEMBER BANKS IN THE
ELEVENTH FEDERAL RESERVE D ISTR IC T:
On August 28, 1978, the Board of Governors of the Federal
Reserve System announced a reduction to zero on reserves re q u ire d on
Eurodollar borrow ings under Regulations D and M as furnished to you in
our C irc u la r No. 78-123, dated August 30, 1978. In its announcement in
the Federal R e g i s t e r , the Board stated that although the reserve r e q u ir e ­
ment percentages against E u rodollars had been reduced to zero, member
banks w ill continue to be req u ire d to submit reports on th eir Eurodollar
b orrow in gs. The statistics on d a ily average borrow ings a r e necessary to
enable the Board to monitor Eurodollar borrow ings on a timely basis.
In view of the Board's action, it is requested that member banks
that maintained reserves on Eurodollars in the re s e rv e computation period
ending on August 23 continue filin g reports of th e ir E u rodollar transactions
even though reserve requirem ents on these transactions a re c u rre n tly
zero. In add itio n, some banks have been rep o rtin g zero in the column
"Net Balances Due to Foreign Branches" when these amounts have been
negative. For statistical purposes, reportin g banks a re requested to r e ­
port the outstanding amounts even if net balances to th e ir own foreign
branches a re negative.
Any questions should be directed to A llan Y . Neale at the Head
Office (E xt. 6334), or the Manager of the Accounting Department at our
El Paso Branch (9 1 5 /5 4 4 -4 7 3 0 ), Houston Branch (7 1 3 /6 5 9 -4 4 3 3 ), or our
San Antonio Branch (512/224-2141) .
S in ce re ly you rs,
Robert H . Boykin
F irs t V ice President

Banks and others are encouraged to use the fo llo w in g incoming W ATS numbers in contacting this Bank:
1-800-492-4403 (intrastate) and 1-800-527-4970 (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)