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F ederal Reserve
bank
DALLAS, TEXAS
of
Dallas
75222
C irc u la r No. 75-159
October 20, 1975
American Revolution Bicentennial
DECREASE IN RESERVE REQUIREMENTS
ON MEMBER BANK TIM E DEPOSITS
WITH AN ORIGINAL M A T U R IT Y OF FOUR YEARS OR MORE
TO A L L MEMBER BANKS IN THE
ELEVENTH FEDERAL RESERVE D IS T R IC T :
T h e re is quoted below the text of a press release issued Wednesday, October 15, 1975,
by the Board of G overnors of the Federal Reserve System announcing a change in Regulation D
reducing the re se rve requirements on member bank time deposits w ith an o rig in al m aturity of
four years or more.
T h e Board of Governors of the Federal Reserve System announced today a r e
duction in re se rve requirem ents on member bank time deposits w ith an o riginal
m aturity of fo ur years o r more. T h e action w ill release about $330 million in re
serves to the banking system.
T his action is designed p r i m a r i ly to encourage banks to lengthen the s tr u c
tu re of th e ir lia b ilitie s . It w ill also help meet the seasonal need for bank reserves
over the coming weeks and facilitate moderate gro w th in the monetary aggregates.
Under the re s tru c tu rin g action, re s e rve requirem ents on time deposits with
an o rig in al m a tu rity of four years or more w ill be reduced from three percent to
one p erc en t. In no case, how ev er, may the average of reserves on time and sav
ings deposits at each bank be less than th ree perc en t, the minimum level specified
by law.
T h e new reserve ratio w ill ap p ly to the level of deposits beginning the week
of October 16-22, and w ill affect re q u ire d reserves beginning the statement week
of October 30-November 5.
T h e one percent re q u ire d re serves w ill also ap p ly to obligations issued by affiliates
and the proceeds channeled to the bank and ine lig ible acceptances with time remaining to m a tur
ity at the time funds w ere channeled to the bank of g re a te r than or equal to four years but less
than seven ye ars.
A new form entitled "Supplem entary Report of Deposits and Related Data for D eterm in
ing O rig in al M atu rity of Four Y ea rs o r More" has been designed to be submitted in addition to the
re g u la r re p o rt of deposits data that a r e fo rw ard ed by the member banks to th e ir ap p ro p ria te Fed
eral Reserve Office on a w e e kly basis. Five copies of this form are attached for reporting the
level of deposits beginning w ith the w eek of October 16-22.
T h e subject form w ill be discontinued after a p p ro p ria te revisions a r e completed on
Form A C -8 (Reports of Deposits and Related Data) and Form FR 414a (Supplementary Report of
Deposits) . A supply of these forms w ill be fo rw ard ed to the member banks in the near fu ture
when revisions are complete. Also, an a p p ro p ria te supplement to Regulation D , suitable for in
sertion in yo u r b in d e r of Bulletins and Regulations, w ill be fo rw ard ed to you in the near fu tu re.
S inc erely yo u rs,
T . W. Plant
F irst V ice President
Enclosures
This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
SUPPLEMENTARY REPORT OF DEPOSITS A N D RELATED DATA
FOR DETERMINING O R IG IN A L MATURITY OF FOUR YEARS OR MORE
(Submit along w ith Report o f D eposit and Related Data (A C -8 ) fo r ALL Member Banks.Those banks
that norm ally subm it completed form F R -41 4a should continue to do so.)
FROM:
TO:
Federal Reserve Bank o f ___________________
(N am e o f Bank)
Closing Balances for the Reserve
Com putation Week Ending Wednesday
( S tr e e t Ad dre s s )
( M o n t h , D a y , Y e ar)
( C it y , S ta te , Z i p C od e )
Report all balances as of the close of business each day to the nearest thousand dollars.
OTHER T IM E D EPO S ITS
Date
Day
of
Week
Month
Day
IN ITIA L
M ATU RITIE S
INITIA L
M ATURITIE S
18 0 D A Y S —
LESS THAN 4 YRS.
4 y r s . or mor e
Mils.
Thous.
Mils.
Thous.
Amounts outstanding of funds obtained
by the bank through issuance of
obligations by affiliates maturing in
1
8 0 DAYS —
LE SS THAN 4 YRS
Mils.
Thous.
4
YEARS
LESS
THAN
Mils.
—
7
YRS.
Thous.
Amounts outstanding of funds obtained
by the bank through its use of ineligible
acceptances ("finance bills") maturing in
1
8 0 DAYS LESS THAN 4 YRS.
Mils.
Thous.
TH U R S .
F R I.
S A T.
S U N.
MON.
TU ES.
W ED .
TO TAL
I certify that the reported closing balances are correct for the above dates.
(A u th o riz e d S ignature)
(T itle )
4 YEARS
LESS
THAN
Mils.
7
YRS.
Thous.
@FedFRASER