The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
federal reserve
Ba n k
DALLAS, TE X A S
of
Dallas
7S222
Circular No. 80-191
October 9, 1980
FEDERAL RESERVE SERVICES
TO THE CHIEF EXECUTIVE OFFICER
OF THE INSTITUTION ADDRESSED IN
THE ELEVENTH FEDERAL RESERVE DISTRICT:
The Depository Institutions Deregulation and Monetary Control Act of
1980 entitles any depository institution that holds transaction accounts or
nonpersonal time deposits to the same discount and borrowing privileges that
are allowed Federal Reserve member banks, and the Act also calls on the
Federal Reserve System to price many of its services and provide any
depository institution access to them.
These include check collection and
automated clearinghouse (ACH) services; transportation of currency and coin;
wire transfers of funds; net settlement; the purchase, sale, safekeeping, and
transfer of securities; and noncash collection. Access to these services will
be made available concurrently with pricing, and the System will begin pricing
some services as early as January, 1981.
Printed on the following pages are brief descriptions of these
services and the proposed schedule of prices, along with other services that
will not be priced, some of which the System performs as an agent of the
United States Government.
For additional information on any of the services
described, please call your Federal Reserve Office at the number listed in the
booklet and ask for information regarding the specific services that interest
you.
Enclosed is a questionnaire
to gather
information on your
institution's intended use of Federal Reserve services once pricing is
implemented. Please note, however, that open access to the discount window is
already in effect and this service will not be affected by pricing. Your best
answers to these questions will enable your Federal Reserve Office to prepare
to give you timely service; note that the volumes and other information
requested will be used only for planning purposes and your best estimates will
suffice in the absence of precise numbers.
Please complete the entire
questionnaire and return it in the enclosed post-paid envelope by October 24,
1980.
Your cooperation will assist in completing a smooth transition to the
new environment of open access and pricing.
Sincerely yours,
Robert H. Boykin
First Vice President
Enclosures (2)
Banks and others are encouraged to use the following incoming WATS 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)
THE FEDERAL RESERVE SYS T E M AMD TH E ELEVENTH DISTRICT
The Federal Reserve System is a nationwide network of 12 District
Banks with a
total of 25 additional branches. At the hub of this network is
the Board of Governors in Washington, D.C.
The seven Governors are appointed by the President of the United
States and approved by the Senate for 14-year terms, which are staggered so
that one term expires every two years. Congress set these terms to enable the
System
to act independently within the framework of national goals and
objectives.
Congress also kept the System's
financial support out of the
political arena; earnings from Federal Reserve Banks' holdings of U. S.
Government securities are more than enough to cover operating costs. At the
end of every year, the System transfers the excess earnings to the Treasury
Department. Because of this method of funding and because each District Bank
is
separately
incorporated,
the
Banks
are
called
quasi-governmental
institutions.
The Board of Governors has general responsibility for coordinating
the System.
The District Banks and their
branches
carry out the operations of
the Federal
Reserve System.
They workwith the Board of Governors to set
monetary policy, which involves the regulation of the supply of money and
credit in the nation so as to achieve stable prices, full employment, and
balanced economic growth. Steady development of the nation's resources and a
rising standard of living for its citizens are dependent on the presence of an
efficient means of payment, another Federal Reserve responsibility.
The Head Office of the Eleventh Federal Reserve District is located
in Dallas.
This office directly provides services to the northern half of
Texas and parts of Oklahoma and Louisiana, while each of the three Branch
Offices located in El Paso, Houston, and San Antonio serve the remaining
portions of the District as illustrated by the map on the next page.
This
booklet
describes
services
provided
Eleventh
District
depository institutions by the Federal Reserve Bank of Dallas and its Branch
Offices. The Board of Governors of the Federal Reserve System has published
its final Regulation A concerning the loan service of Federal Reserve Banks
(described first below).
The Board has also published for comment the
following schedule for opening access to and implementing pricing of other
Federal Reserve services:
Service
Access and Pricing
Wire Transfer of Funds
Net Settlement
Check Clearing and Collection
Automated Clearinghouse (ACH)
Currency and Coin
Purchase, Sale, Safekeeping,
and Transfer of Securities
Noncash Collection
January 1981
January 1981
April 1981
April 1981
July 1981
October 1981
October 1981
For answers to questions beyond the scope of this booklet, the
telephone numbers and addresses listed on the last page may be used.
It is
suggested that for questions concerning specific services, the District office
serving your institution's location should be contacted.
DISCOUNT WINDOW (LOANS)
The Monetary Control Act of 1980 provides
that any depository
institution that holds transaction accounts or nonpersonal time deposits shall
be entitled to the same discount and borrowing privileges as member
banks.
Regulation A provides that Federal Reserve credit may be offered
undertwo basic programs — adjustment and extended.
Nonmember depository
institutions that are eligible to borrow from the Federal Reserve would, like
member banks, be expected to rely on other reasonably available sources of
- 2 -
E l e v e n t h
F e d e r e l
R e e e r v e
D i s t r i c t
funds before turning to the discount window for assistance.
Consequently,
institutions that have access to credit programs provided by Federal Home Loan
Banks, credit union centrals, or the Central Liquidity Facility of the
National Credit Union Administration would be expected to seek assistance from
these sources prior to requesting credit from the Federal Reserve.
Short-term adjustment credit is available to assist depository
institutions in meeting temporary requirements for funds, or to cushion more
persistent fund outflows pending an orderly adjustment of the institution's
assets and liabilities. Borrowing is not appropriate solely to take advantage
of a favorable spread between the discount rate and other market rates or to
add to investment portfolios.
Interest on adjustment credit would generally
be at the basic discount rate. However, the Federal Reserve would retain the
option to impose a
surcharge in addition to the basicrate.
Extended
credit in the form of seasonal credit is available
to
smaller institutions that lack ready access to national money markets or to
special industry lenders. In determining eligibility for seasonal credit, the
discount officers
give weight not only to the depository institution's
historical record of seasonally adjusted loan and deposit performance, but
also take account of evidence with regard to changing patterns of recent and
prospective needs for funds and liquidity conditions at the institution.
Extended credit is also available to meet the needs of a depository
institution experiencing severe difficulties unique to that institution.
These would include sustained deposit drains, impaired access to money market
funds, or sudden deterioration in loan repayment performance.
In addition, extended credit is available to accommodate the needs
of depository institutions, including those with longer term asset portfolios,
that may be experiencing difficulties adjusting to changing money market
conditions
over a longer period,
particularly
at
times
of deposit
disintermediation.
Advances made under the seasonal credit program would be at the
basic discount rate; as with adjustment credit, however, the Federal Reserve
- 4 -
would reserve the option to apply a surcharge above the basic rate. The rate
applicable to other extended credit may be above the basic rate, though the
applicable rate would, of course, depend on market conditions at the time.
All advances must be secured to the satisfaction of the Reserve
Bank. Satisfactory collateral generally includes United States government and
Federal agency securities, and, if of acceptable credit quality, mortgage
loans covering 1-4 family residences, municipal securities, and customer
notes.
Prior to borrowing
from the Federal
Reserve, a depository
institution must execute and have on file at the Reserve Bank two documents.
The first is a certified copy of a resolution adopted by the depository
institution's board authorizing designated officers to borrow and pledge
collateral.
The second is a Continuing Lending Agreement which can be
executed by an officer authorized to borrow.
CHECK COLLECTION
One of the original purposes of the Federal Reserve
System was to
provide an efficient nationwide payments mechanism; this is still a major
task. The bulk of the payments mechanism today still consists of the clearing
and collection of checks (including Treasury checks and Postal Money Orders),
NOW account items, and credit union share drafts.1
The Federal Reserve has
made a major
investment in establishing
Regional Check Processing Centers
(RCPCs) in or
near the largest cities of the nation, in order to ensure the
rapid
clearing
of
all
checks
and
a
concurrent
reduction
in
float— responsibilities that have been specifically mandated by Congress.
l-For simplicity, all these various types of payment instruments will
be referred to as "checks" or "cash items".
- 5 -
The public's use of checks and the payments mechanism has increased
dramatically in recent years: over 15 billion checks totaling over $8 trillion
were processed by the Federal Reserve System in 1979. To meet this increased
use, the System has been a leader in encouraging more sophisticated technology
and methods that reduce the time required to process checks.
The result is
that financial institutions can choose from among a number of check clearing
services offered by the Federal Reserve.
For example, if an institution has less than 5,000 items to be
cleared each day, that institution may send to the Federal Reserve each day
all its checks or cash items for clearing in one group or "cash letter". This
is known as the "mixed" or "unsorted cash letter" option. An institution with
larger volume must sort its cash items by deposit type — depending on whether
the
items
are (1) drawn on local
("city")
institutions, (2) drawn on
institutions in RCPC zones, (3) drawn on "country" institutions, (4) drawn on
institutions in other Reserve Bank territories,2 (5) Treasury checks, or (6)
Postal Money Orders.
In addition, there are the group sort and package sort
options, requiring additional item processing prior to deposit.
Credit for
cash letters deposited will be applied either to the institution's account at
the Federal Reserve or to a correspondent's account.
Specific deposit
deadlines and credit availability schedules by type of item can be obtained
from your Federal Reserve Office.
The Federal Reserve offices also "present" checks payable at a
financial institution.
The Reserve office will prepare and deliver cash
letters daily to an institution containing items drawn on that institution.
However, an institution may decide to have its cash letters delivered to a
correspondent bank or central processing facility; in that case, the local
Federal Reserve Bank must be notified so that special arrangements can be
2In the Dallas, Houston, and San Antonio territories, interterritory
items may be sorted by deposit type and destination Reserve Office to qualify
for the "consolidated" option, thereby avoiding processing at one Federal
Reserve office and using the Federal Reserve's interdistrict transportation
system. An institution may also arrange to send items for collection directly
to Federal Reserve offices in other territories, thereby incurring only the
local processing charge at the receiving Federal Reserve office.
- 6 -
made.
As a further service,
a financial institution may choose to have the
amount of its Federal Reserve cash letters debited from its account at the
Reserve Bank or from its correspondent's account.
Federal Reserve cash letters are normally delivered each day; if
they are not received on that basis, the Federal Reserve Bank's Adjustments
division should be notified.
Occasionally, there may be errors in the cash
letters, due to missing checks, extra checks, incorrect amounts listed, etc.
Such errors should be reported on the appropriate form to the Reserve Bank for
immediate adjustment.
Some cash items cannot be processed because the account against
which the check has been drawn has been closed, payment has been stopped, or
there are insufficient funds in the account.
A "return" cash letter
containing such items should be sent each day to the Federal Reserve. Special
telephone notice is required for return items of large dollar amounts.
In
turn, the Federal Reserve notifies financial institutions by phone about any
large items endorsed but returned unpaid, and sends a daily return cash letter
covering all unpaid endorsed items.
While each financial institution is responsible for amount-encoding
its cash items and arranging
and paying for the shipment of checks to the
Federal Reserve, the proposed check prices in the Appendix include charges for
the transportation and presentment of items to the paying institution.
Note
that there will be no fee attached to the deposit of Treasury checks or Postal
Money Orders deposited separately, i.e., in separate cash letters containing
no commercial checks, and no separate charge will be made for return items.
Local Federal Reserve offices will gladly answer any questions about
check services.
- 7 -
ACH
In an effort to increase the efficiency of America's payments
mechanism, the Federal Reserve has played a major role in the development and
operation of the nationwide Automated Clearinghouse (ACH) network.
Most
simply, an ACH provides a vehicle for exchange of paperless debit and
credit entries between financial institutions.
The debit and credit entries
include such items as government, insurance, and utility company payments;
depositary transfer transactions; payroll, pension, and stock dividend
deposits; etc.
In 1979, over 176 million "paperless entries" were processed
by ACHs operated by the Federal Reserve System.
Current Federal Reserve policy allows any depository institution—
bank, savings and loan, credit union, and mutual savings bank— to originate
(send) ACH items to the Reserve Bank as long as the institution is a member of
its local ACH association.
(All member banks of the Federal Reserve System
are eligible for originator status if the proper agreements have been signed.)
The transactions must be presented on magnetic tape or transmitted to the
Reserve Bank via electronic communications.
Each file of transactions
presented must be accompanied by an entry control register from an authorized
individual at the originating institution in order to supply necessary control
total s.
The items deposited will be given availability according to the
effective date specified on the file if that date falls within the Reserve
Bank's deposit schedule.
Settlement for all items deposited is directed to the originating
institution's account at the Reserve Bank or to the account of a designated
correspondent.
The Reserve Bank will charge fees to an originating
institution directly (according to the proposed schedule in the Appendix) if
the originator is not a member of an ACH association; members of ACH
associations will be given the option of being billed directly or through
their ACH association.
- 8 -
Any bank or thrift institution may receive commercial ACH items from
its local Federal Reserve Bank.
Settlement for all items directed to a
receiving financial institution is accomplished through that institution's
accountwith the Reserve Bank
or through a correspondent's account.
Any
financial institution that has signed an agreement may receive government ACH
payments from the Federal Reserve Bank. The Reserve Bank will not charge any
financial institutions any fees for Government electronic payments.
Reserve Banks can provide entries on paper listings, on magnetic
tapes, or by electronic transmission, as designated by the receiving financial
institution. The items may be delivered directly to the receiving institution
or to a processing center specified by the financial institution.
Control
information is provided by the Reserve Bank by means of a call or listing that
indicates the number and dollar amount of entries being sent.
When posting
ACH items
to customers' accounts, the receiving
financial institution occasionally encounters entries for closed accounts, for
accounts with insufficient funds, etc.
These items should be returned on
paper to the local Federal Reserve office in the format specified by the
Operating Rules of the National Automated Clearinghouse Association.
If
automated capability exists, such returns can be transmitted in electronic
form as defined in the Operating Rules. Upon receipt at the Federal Reserve,
proper settlement entries are made for the total of return items.
Return items received at a Federal Reserve office are sorted
returned to the originating institution for resolution.
Items received
electronic form at the Reserve Bank may be returned on electronic media
desired by the originator.
Otherwise, items are returned on
Appropriate settlement
entries are made by the Federal Reserve office
items returned to the originator.
and
in
if
paper.
for
The sending institution is responsible for arrangement and payment
for all transportation of ACH tape files sent to the Federal Reserve office
for processing. The Federal Reserve office is responsible for transportation
- 9 -
of ACH paper and tape files sent to the receiving financial institution. The
receiver is responsible for arrangement and payment for the transportation of
processed magnetic tape files returned to the Reserve Bank.
HIRE TRANSFER OF FUNDS
This service results in the movement of money from the account of
one financial institution to the account of another institution at the same
Reserve Office, or another Reserve Office through a private telegraphic wire
network (commonly called Fed wire) controlled by the Federal Reserve System.
After a financial institution issues instructions to its Federal Reserve Bank
(either on-line^ or via telephone), the funds are dispatched to destination
institutions in a matter of minutes.
Closing hours for the acceptance of
transfers of funds for consummation on the day
transfers to Eastern banks and 3:00 p.m. for all
for the El Paso Office are one hour earlier.
both on-line and off-line banks.
requests to make telegraphic
of receipt are 2:00 p.m. for
other banks.
Closing hours
These closing times apply to
Requesting (sending) institutions are charged for the dollar value
of transfers sent, and receiving institutions are credited with the dollar
value of transfers received. These debits and credits and fees (proposed fees
^Some depository institutions prefer the additional benefit of going
"on-line" for transfers of funds, i.e., initiating transfers and monitoring
their transactions through a direct link to the Federal Reserve's private wire
network.
This link is accomplished through the installation of a terminal
within the financial institution.
Having a terminal of this type permits an
institution to directly send and receive their own transfers of funds while
incurring only the monthly rental cost of the terminal itself. The end result
of this arrangement is faster service for the financial institution and its
customers, more efficient money management by the financial institution, and
lower per-transfer fees.
-
10
-
are described in the Appendix) to the requesting institution^ are posted to
accounts maintained at Federal Reserve Banks through previously established
arrangements.
This service can be utilized by financial institutions to provide a
rapid, secure means of moving funds for their customers, to effect settlement
between financial institutions, to make reserve adjustments, and for the
purchase and sale of funds between financial institutions.
NET SETTLEMENT
The Federal Reserve Banks offer a service commonly referred to as
net settlement, which involves effecting settlement in "finally collected"
funds when a Reserve Bank is not involved in, or responsible for, processing
the items that underlie the settlement.
Settlement is effected through
accounting transactions on Reserve Bank books in accordance with basic
agreements that have been executed by all participating parties.
These
arrangements generally involve two or more institutions that have agreed to
have a third party (frequently one of the institutions involved) create
entries to be posted to all their accounts at their Reserve Bank. Examples of
arrangements utilizing net settlement include local check clearinghouse and
credit card associations. The basic requirement is that the entries for the
group net to zero (total debits must equal total credits.).
Net settlement, as described above, is differentiated from gross
settlement, which occurs when the Reserve Bank is involved in, or responsible
for, processing the items that underlie the settlement.
The cost of gross
settlement is covered by charges resulting from the direct use of Federal
Reserve services to be posted individually to the account of an institution or
to the account of its correspondent.
4 In the case that an institution places a standing order with its
Federal Reserve office that the institution wishes to be advised of all
incoming transfers, the listed telephone advice fee will be charged to the
recipient.
-
11
-
Proposed
charges for net settlement services,
detailed in
the
Appendix, depend on the number of entries (participants) in each settlement
and will be levied through the account of a financial institution against the
agent ordering the settlement, rather than against each financial institution
participating in the settlement.
CURRENCY AND COIN
A major responsibility of the Federal Reserve System is to ensure
that the national economy is provided with enough cash to meet transactions
needs.
The System does this, under delegation from the U. S. Treasury, by
putting currency and coin into circulation. The cash flows through financial
institutions as they supply the needs of their customers.
The distribution
from the Federal Reserve is designed to be equitable and impartial, enabling
all financial institutions to participate.
Federal
Reserve Banks pay out new and
reusable coins and Federal
Reserve notes to depository institutions, and accept for credit, redemption,
exchange or replacement, currency and coin that is unfit for further
circulation or surplus to the needs of the institution. (Special arrangements
have to be made for deposit of severely damaged U. S. coin and currency and
counterfeit bills.)
General policy is for Federal Reserve Banks to pay out reusable
currency and coin before uncirculated items are distributed; orders are filled
in light of this policy and in accordance with inventory on hand. Orders for
coin are filled without regard to mint mark, date, or whether such coin is new
or old.
Your Federal Reserve Office will deliver orders of currency and coin
and pick up deposits for return to the Reserve Office via armored carrier or
registered mail.
The mode of transportation
used is influenced by
the
proximity of your
institution to existing armored carrier routes as well as
the amount of cash being shipped.
- 12 -
Fees will be assessed ordering and depositing institutions only for
Federal Reserve-provided transportation services; therefore, cash can be
picked up or deposited at your Federal Reserve Office at no charge, subject to
reasonable restrictions on scheduling these pickups or deposits when financial
institutions arrange their own transportation.
The Appendix contains the
proposed volume-related and per-stop price list for armored carrier shipments;
in general, cash transportation prices vary by geographic "zone". Information
is included with the price list to allow determination of the zone in which
your institution is located.
The charge for mail shipments will consist of
actual postage expenses incurred by your Federal Reserve Office plus the
listed charge per mail shipment; however, it is proposed that in no case will
the total charge for a mail shipment exceed $32 plus the total volume charge
that would have been applied for over-the-road transportation.
Telephone or mail orders for currency and coin must reach your
Federal Reserve Office by 2:00 p.m. two days prior to the requested delivery
date.
Orders and deposits of currency are packaged in 100-note "straps"
and coin is sacked loose in standard bags.
Furthermore, currency can be
ordered and deposited only in multiples of the following standard units:
Denomination
Standard Dollar Amount
Ones
Twos
Fives
Tens
Twenties
Fifties
Hundreds
$ 1,000
2,000
5,000
10,000
20,000
5,000
10,000
- 13 -
Coin must be ordered and deposited
standard amounts:
loose
in bags holding
the
following
Standard Dollar Amount
Denomi nation
$
Pennies
Nickels
Dimes
Quarters
Halves
Dollars
50
200
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
2 ,0 0 0
SAFEKEEPING
The Federal Reserve Bank will hold securities in safekeeping for
depository institutions and will perform certain services as outlined below.
These services do not relieve the owning financial institution of its duty to
remain informed of maturities, call dates, and other information affecting its
portfolio.
Only securities which are neither assigned nor pledged and are
owned by the depositing institution will be held in custody for the account,
at the risk and subject only to the order, of the financial institution named
as owner in the acknowledgment issued by the Federal Reserve Bank. Securities
acceptable for custody include all bonds, notes, certificates of indebtedness,
Treasury bills issued or guaranteed by the United States Government, and
miscellaneous state, municipal, or corporate bonds.
Securities not eligible
for book-entry will not be held for institutions located in Federal Reserve
Office cities.
Services
covered
by
the
proposed
fee
schedule
in the Appendix
include:
°
Receive l. S. Government, State, Municipal, and Corporate
l
securities and hold for the account of a financial institution,
0
Provide acknowledgment of receipt to a financial institution for
securities held,
°
Enter for collection maturing coupons and securities, and
°
Pledge securities
institutions.
to
third
- 14 -
parties
on
behalf
of
financial
Deposits, withdrawals, or exchanges of securities will be made only
upon receipt of written instructions from an authorized employee of the
financial institution. When dealing with pledged securities, the transaction
must also be approved by the third party.
This safekeeping service can be a useful security measure and an
efficient method of holding collateral to be pledged.
Certain deposits at
financial institutions, such as Treasury tax and loan balances or deposits
from public officials, must be collateralized.
If the collateral is
maintained in a Federal Reserve Safekeeping account, the owner institution
reduces the cost of transfer and shipping.
In addition, if necessary, the
depositing institution can expeditiously use securities in its safekeeping
account as collateral for borrowing from the Federal Reserve Discount Window.
No fees will be imposed for switches for TT&L collateralization or Discount
Window purposes.
The form of safekeeping depends in part on the type of securities
involved. For Treasury and Government Agency issues, a Federal Reserve Bank
will accept only book-entry form.
Any of the depositing institution's
securities eligible for book-entry may be held in that form, including
obligations being held for the institution's customers or trust department.
TRANSFER OF SECURITIES
The Federal Reserve Bank makes telegraphic transfers of outstanding,
unmatured, marketable bearer or book-entry securities of the United States
(Treasury Bonds, Notes, Certificates of Indebtedness, Bills, and certain
agency securities) for the owners of such securities, over the Federal Reserve
wire system.
Financial institutions may access the Federal Reserve wire
system directly through on-line terminals placed in the institution or
off-line via a written or telephone request directing the transfer from a
designated official of the institution.
- 15 -
Transfers may be conducted on any business day prior to the date on
which the security has been called for redemption or the maturity date of the
security involved.
The cut-off time for telegraphic transfers of securities
is 2:30 p.m. for the receiving Federal Reserve Bank.
Securities of two or more different issues may not be combined in a
single transfer, nor may securities to be delivered to two or more recipients
be combined in a single transfer.
The securities to be transferred must be delivered to your Federal
Reserve Office before a transfer can be effected.
Securities deposited for
telegraphic transfer must have all unmatured coupons attached.
The originator of a transfer will be charged (according to the
proposed fee schedule in the Appendix), except that off-line receivers will be
assessed the surcharge for off-line receipt.
PURCHASE AND SALE OF SECURITIES
Upon request, the Federal Reserve Bank will
act as agent in
purchasing and selling United States Government and United States Agency
securities.
These services are limited to "third-party" purchases and sales
and do not include investment advisory services.
The securities to be sold must be in safekeeping at your Federal
Reserve Office or be delivered to the Office before an order to sell the
securities can be effected.
Purchase and sales orders will be placed with recognized dealers
chosen by your Reserve Office.
When the face amount is more than $25,000,
competitive prices will be obtained from more than one dealer and the best
price will be accepted.
- 16 -
Payment for such transactions are effected through the account of
the requesting financial institution or another financial institution with
whom a correspondent relationship exists.
Proposed fees to be assessed
institutions for market transactions are listed in the Appendix.
NON-CASH COLLECTION
Financial institutions
that hold U.
S. Government securities or
securities of Federal Agencies and instrumentalities periodically have coupons
coming due or issues that mature.
As a service, the Federal Reserve Banks
will "receive for collection" these coupons and due obligations and make the
appropriate payment.
This collection process is part of a nationwide system
established by the Federal Reserve.
Financial institutions also hold corporate and municipal securities
that mature, are called, or carry coupons due to mature.
There may also be
bankers'
acceptances and checks or drafts that cannot be handled as cash
items.
As a service, a Federal Reserve Office will accept over the counter
those items that are payable in the Office's geographical territory. Coupons
submitted for collection must be packaged by payor, maturity date, and issue.
A Federal Reserve Office will also present for payment any due coupon or
security that it is
holding in collateral accounts or safekeeping for a
financial institution.
Credit for due items will be passed to the
owner-endorser on a
predetermined schedule,
and
proposed fees for the
collection service to be assessed are listedin the Appendix. A charge based
on a predetermined schedule will be made to the paying agent, if the paying
agent has formally submitted an auto-charge agreement.
NON-PRICED SERVICES
In addition to the services discussed so far for which explicit fees
will be
charged, ReserveBanks also provide other services at no charge to
financial institutions and the public. Five major examples follow.
- 17 -
SAVINGS BONDS
As Fiscal Agents for the U. S. Treasury, the
offer services related to the issuing and redeeming of
the Savings Bond program is
sponsored by the
institutions and corporations operating payroll Savings
employees are eligible to participate through a
Participation can take several forms.
Federal Reserve Banks
Savings Bonds. Since
Treasury, all financial
Bonds plans for their
Federal Reserve Bank.
As an issuing agent,
a depository institution receives unissued
Savings Bonds on consignment for future sale to its customers, its employees
and its
customers' employees.
The Reserve Bank takes care of all shipping
arrangements, and settlement is made to the Federal Reserve only after the
Savings Bonds have been issued.
As a paying agent, a
financial institution can redeem previously
issued Savings Bonds for customers. The Federal Reserve Bank then reimburses
these funds.
The Treasury pays a fee on a per-bond basis to both issuing and
paying agents for performing these Savings Bond functions.
The local Federal Reserve Bank can qualify a financial institution
as an issuing or paying agent, thus enabling the institution to provide these
services to customers.
U. S. GOVERNMENT SECURITIES
The Federal Government carries out an extensive program of borrowing
funds through the sale of Treasury securities.
Most of the borrowing occurs
through routine sales on a weekly, monthly, and quarterly basis, but special
sales may occur in response to larger-than-anticipated needs for funds or the
maturing of outstanding debt.
Treasury borrowing generally represents very
- 18 -
large dollar amounts, and the terms of an issue of bills, notes, or bonds
reflect financial market conditions at the time of the sale. While most new
issues are sold on an auction basis, the prospective buyer can submit a
noncompetitive tender for an allotment at the average price determined by the
auction.
As Fiscal Agents for the U. S. Government, the Federal Reserve Banks
handle operations of sales of new Treasury issues. Tenders for new issues
the
may be obtained from and submitted directly to a Federal Reserve Bank. If a
financial institution submits a tender and is awarded part of the new issues,
the institution will receive its securities from the Reserve Bank in either of
two forms: definitive (paper) form or book-entry (computer-stored) form. The
Federal Reserve System and the Treasury have instituted the book-entry system
in an effort to make the process of issuing new Government securities more
efficient and less vulnerable to theft.
Issues of Treasury bills have been
converted entirely to book-entry form. Treasury notes and bonds, however, are
still issued in definitive form, in which case the buyer can choose to have
the new issues shipped directly.
TREASURY TAX ANO LOAN DEPOSITORY
A Federal Reserve Bank, as Fiscal Agent
for the U. S. Treasury,
maintains special depository accounts for financial
institutions that wish to
participate in the
collection of Federal taxes and to realize short-term use
of these tax funds.
Depositories may qualify under one of two options: the
remittance option or the note option. For both options, depositories are paid
a per-item collection fee by the Treasury.
With the
remittance option, the Treasury "calls" the tax deposit
balances
the day
after the funds are deposited with
the financial
institution. Supporting collateral must be pledged against the tax deposits.
- 19 -
Under the note option, the depository can retain the tax funds in an
on-going balance on which interest must be paid to the Treasury every month.
(The rate of interest is set at a level 25 basis points below the daily
Federal funds rate as reported for the nation.)
Note option balances are
subject to call for payment on demand to the Treasury, and 100 percent
collateral must be pledged against all maintained balances.
INFORMATION SERVICES
The Federal Reserve System, as part of its monetary policy
responsibility, collects, analyzes, and interprets information regarding
economic activity and banking and financial developments.
While most of the
statistics are released by the Board of Governors in Washington, D. C., the
District Banks are responsible for collecting and interpreting information in
their respective regions.
Over the years, each Federal Reserve Bank has
developed a research staff, a library, and a data-collection operation at its
main office. The function of the Reserve Bank's research staff is to analyze
current developments and long-term trends in the nation's economy.
Close
attention is given to the industries that dominate the local economy.
SUPERVISION AND REGULATION
The Bank Supervision and Regulations and Holding Company Supervision
Departments at the Federal Reserve Bank of Dallas will continue to be
responsible for examining state-chartered member banks and bank holding
companies.
The Bank Supervision and Regulations Department also interprets
the rules and regulations governing the conduct of banking and sends
announcements and proposals about Federal Reserve regulations to all concerned
institutions.
In addition, questions and complaints about compliance with
Truth in Lending, Equal Credit Opportunity, acceptable advertising, Community
Reinvestment Act, EFT notification, and other laws are received and handled.
- 20 -
Head Office
400 South Akard Street, Dallas, Texas
Mailing Address:
Telephone Numbers:
Incoming WATS:
Station K
Dallas, Texas 75222
214-651-6111
800-442-7140 (Texas Callers)
800-527-9200 (Out-of-Texas Callers)
El Paso Branch
301 East Main Street, El Paso, Texas
Mailing Address:
Telephone Number:
P. 0. Box 100
El Paso, Texas 79999
915-544-4730
Houston Branch
1701 San Jacinto Street, Houston, Texas
Mailing Address:
Telephone Number:
P. 0. Box 2578
Houston, Texas
77001
713-659-4433
San Antonio Branch
126 East Nueva Street, San Antonio, Texas
Mailing Address:
Telephone Number:
P. 0. Box 1471
San Antonio, Texas 78295
512-224-2141
- 21 -
APPENDIX
POOE FESHDL
RPSD E CEUE
CMECA CEK SRIE
OMRIL HC EVCS
(et pr ie)
cns e tm
CS LTE CNOIAE
AH ETR OSLDTD
WT SIMNS SN FO
IH HPET ET RM
O H R FR O F C S T
T E .. F I E O
POESN FR OFC
RCSIG .. FIE
C S L T E S D P S T D D R C L AT P O E S N F R O F C
AH ETR EOIE IETY
R C S I G .. F I E
FDRL
EEA
Cuty
onr
RSRE
EEV
RP
CC
OhroteNnP
O F C __________ C t ___ i M x d
FIE
iy
i e ___ F d
e _____M c l e b e
a h n a l ____ S r _____ S r ____ C t ________ 4 R P
ot
ot
iy
CC
BSO
OTN
)
16
.4
18
.4
2.I
t
LWSO
EITN
)
14
.*
33
.*
42
.*
05
.4
17
.*
WNSR LCS )
IOO OK
30
.
34
.
NWYR
E OK
51
.
70
.
02
.
25
.
29
.
19
.
21
.
BFAO
UFL
39
.
39
.
06
.
15
.
17
.
.
25
.
JRCO
EIH
43
.
06
.
20
.
27
.
CAFR
RNOO
22
.
45
.
06
.
17
.
24
.
UIA
TC
46
.
06
.
20
.
-
PIAEPI
HLDLHA
05
.
13
.
23
.
41
.
38
.
32
.
36
.
37
.
06
.
06
.
05
.
06
.
06
.
20
.
24
.
ALNA
TAT
BRIGA
IMNHM
JCSNIL
AKOVLE
NSVLE
AHIL
NWOLAS
E REN
MAI
IM
)
)
)
)
)
)
33
.
38
.
25
.
18
.
17
.
12
.
13
.
43
.
45
.
34
.
35
.
38
.
17
.
21
.
14
.
46
.
43
.
06
.
09
.
19
.
34
.
37
.
19
.
18
.
13
.
16
.
18
.
40
.
41
.
34
.
39
.
38
.
12
.
15
.
19
.
12
.
13
.
12
.
15
.
)
)
)
)
18
.
2 .0
2 .2
15
.
17
.
1 .8
-
2 .0
2 .2
04
.
16
.
19
.
41
.
55
.
43
.
34
.
51
.
05
.
04
.
04
.
04
.
03
.
24
.
16
.
17
.
29
.
23
.
21
.
38
.
40
.
03
.
19
.
44
.
48
.
05
.
14
.
17
.
10
.
15
.
13
.
24
.
13
.
17
.
19
.
39
.
33
.
38
.
37
.
40
.
38
.
39
.
36
.
05
.
05
.
05
.
05
.
1 .0
2 .1
2 .8
-
14
.
19
.
17
.
18
.
21
.
23
.
14
.
19
.
38
.
45
.
06
.
15
.
18
.
23
.
59
.
02
.
2 .0
2 .1
1 .6
1 .6
19
.
17
.
2 .1
2 .6
19
.
24
.
)
)
)
)
)
)
KNA CT
ASS IY
ONE
EVR
OLHM CT
KAOA IY
OAA
MH
DLA
ALS
HUTN
OSO
SNATN O
A NOI
E PS
L AO
27
.
22
.
16
.
16
.
11
.
14
.
-
CEEAO
LVLN
CNINT
ICNAI
PTSUG
ITBRH
CLMU
OUBS
RCMN
IHOD
BLIOE
ATMR
CALTE
HROT
CLMI
OUBA
CALSO
HRETN
CIAO
HCG
OTOT
ERI
OS M IE
E ONS
IDAAOI
NINPLS
MLAKE
IWUE
S. L U S
T OI
LTL RC
ITE OK
LUSIL
OIVLE
MMHS
EPI
MNEPLS
INAOI
HLN
EEA
23
.
19
.
)
)
)
)
SN FACSO )
A RNIC
LSAGLS
O NEE
)
PRLN
OTAD
)
15
.
38
.
16
.
SL LK CT )
AT AE IY
SATE
ETL
)
•The Con o ( a e opt i n I nt ava a l a E P s .
sl dtd
o s o' il b e t l a o
AUTOMATED CLEARINGHOUSE SERVICES
(cents per itea)
Intra-ACH Items
Inter-ACH Items
1.0
1.5
WIRE TRANSFER OF FUNDS AND NET SETTLEMENT SERVICE
BASIC CHARGE PER ENTRY
SURCHARGES PER ENTRY:
ENTRY ORIGINATED OFF-LINE
TELEPHONE ADVICE REQUESTED
$0.70
2.45
1.60
CURRENCY AND COIN SHIPPING SERVICE
FEDERAL
RESERVE
OFFICE
MAIL
CITY ENDPOINT
SHIPMENT*
VOLUME SHIPPED
PER STOP
(DELIVERY TO
PER
PER
(PICKUP
OR FROM
BUNDLE** OF BAG OF AND/OR
POST OFFICE) CURRENCY
COIN DELIVERY)
Dallas
Houston
San Antonio
El Paso
$1.82
1.97
2.74
$.20
.10
$.12
.14
$1.88
6.17
.15
6.83
.10
2.74
.10
SUBURBAN ENDPOINT
VOLUME SHIPPED
PER STOP
PER
PER
(PICKUP
BUNDLE BAG OF
AND/OR
CURRENCY COIN DELIVERY)
.19
$10.57
$.40
$.40
-
-
.10
5.99
-
.15
-
3.48
-
-
OVER-THE-ROAD-ENDPOINTS
FEDERAL
RESERVE
OFFICE
Dallas
Houston
San Antonio
El Paso
VOLUME SHIPPED
PER
PER
BUNDLE** OF BAG OF
CURRENCY
COIN
1.20
0.60
1.30
1.70
1.38
0.82
1.77
1.95
PER STOP (PICKUP AND/OR DELIVERY)
ZONE
ZONEZo N e
ZONE""' K M
5 4
1
2
3
22.44
25.70
29.04
13.57
17.81
22.06
26.30
15.38 17.71 20.04 22.38
27.25
31.50
32.00
*Cost of one-way trip to or from U. S. Post Office.
costs will be added.
-
.
-
24.70
-
Actual postage and insurance
** A bundle of currency is 1,000 notes (ten 100-note straps).
CITIES CURRENTLY PROVIDED CURRENCY AND COIN SHIPPING SERVICE SEPARATED BY ZONE
ELEVENTH FEDERAL RESERVE DISTRICT
DALLAS OFFICE
City Endpoints
In Texas
City of Dallas Banks
Suburban Endpoints
In Texas
Banks located in the following Cities:
Carrollton
Duncanvi1le
Farmers Branch
Garland
Over-the-Road Endpoints
Grapevine
Grand Prairie
Irving
Lancaster
Lewisville
Mesquite
Richardson
Zone 1 (Oklahoma)
Antlers
Atoka
Boswell
Caddo
Coalgate
Colbert
Durant
Hugo
Madill
Zone 1 (Texas)
Alvarado
Alvord
Anna
Arlington
Athens
Bells
Belton
Bogata
Bonham
Bowie
Breckenridge
Bremond
Bridgeport
Caddo Mi 11s
Cameron
Canton
Celeste
Cisco
Clarksville
Cleburne
Cl ifton
Colleyville
Comanche
Commerce
Cooper
Copperas Cove
Corsicana
Dawson
Daingerfield
Decatur
De Leon
Denison
Denton
Deport
Dublin
Eastland
Edgewood
Emory
Ennis
Euless
Evant
Fairfield
Farmersvi1le
Ferris
Forney
Franklin
Ft. Worth
Gainesville
Gatesville
Gilmer
G1adewater
Glen Rose
Gordon
Gorman
Graford
Graham
Granbury
Grand Saline
Greenv i11e
Groesbeck
Hallsville
Hamilton
Henderson
Henrietta
Hico
Hillsboro
Honey Grove
Hughes Springs
Hurst
Itasca
Jacksboro
Joshua
Kaufman
Keene
Kemp
Killeen
Dallas Office
Zone 1 (Texas)
Continued
Kilgore
Kosse
Ladonia
Leonard
Lipan
Lone Star
Longview
Mabank
Marlin
Mart
McGregor
McKinney
Mexia
Midlothian
Milford
Mineola
Mineral Wells
Moody
Mt. Calm
Mt. Pleasant
Mt. Vernon
Naples
Newcastle
Nocona
Olney
Paris
Pilot Point
Pittsburgh
Plano
Qui
tman
Ranger
Rhome
Rio Vista
Rockwal1
Rosebud
Roxton
Royse City
Saint Jo
Sanger
Santo
Sherman
Stephenville
Strawn
Sulpher Springs
Teague
Temple
Terrell
Tom Bean
Trenton
Troup
Tyler
Valley Mills
Valley View
Van Alstyne
Waco
Waxahachie
Weatherford
West
Whitehouse
Whitesboro
Whitewright
Whitney
Wichita Falls
Wills Point
Windom
Winnsboro
Wolfe City
Wortham
Zone 2 (Louisiana)
Arcadia
Bossier City
Homer
Mansfield
Minden
Ruston
Shreveport
Zone 2 (Oklahoma)
Idabel
Broken Bow
Zone 2 (Texas)
Abilene
Albany
Anson
Aspermont
Atlanta
Avinger
Baird
Ballinger
Brady “
Bronte
Brownwood
Burkburnett
Carthage
Childress
Chillicothe
Coleman
Colorado City
Crowe11
Dekalb
Eden
Eldorado
Goldwaithe
Holland
Hamlin
Haskell
Iowa Park
Jefferson
Lampasas
Linden
Marshall
M e 1vi
n
Memphi
s
Menard
Merkel
Mertzon
Moran
Munday
New Boston
Paducah
Dallas Off i c e
Quanah
Rockdale
Roscoe
Rowena
Rotan
Rule
San Angelo
Santa Anna
San Saba
Seymour
Snyder
Stanford
Sterling City
Sweetwater
Texarkana
Throckmorton
Vernon
Waskom
Wellington
Winters
Zone 3 (Louisiana)
Bastrop
Delhi
Lake Providence
Monroe
Oak Grove
Rayville
Tallulah
West Monroe
Zone 3 (Texas)
Amarillo
Amherst
Big Lake
Big Spring
Borger
Brownfield
Canadian
Clarendon
Claude
Crosbyton
Dalhart
Darrouzett
Dimmitt
Dumas
Floydada
Follett
Hale Center
Hart
Hereford
Higgins
Kress
Lamesa
Levelland
Littlefield
Lockney
Lubbock
Muleshoe
O'Donnell
Olton
Ozona
Pampa
Panhandle
Perryton
Plainview
Post
Ralls
Rankin
Shamrock
Sonora
Stinnett
Sudan
Sundown
Tahoka
Tul ia
Wheeler
CITIES CURRENTLY PROVIDED CURRENCY AND COIN SHIPPING SERVICE SEPARATED BY ZONE
ELEVENTH FEDERAL RESERVE DISTRICT
EL PASO OFFICE
City Endpoints (Combined with Suburban Endpoints)
m lexas
City of El Paso Banks
Suburban Endpoints (Combined with City Endpoints)
Over-the-Road Endpoints
Zone 1 (New Mexico
Alamogordo
Anthony
Deming
Hatch
Las Cruces
White Sands Missile Range
Zone 2 (New Mexico)
Artesia
Bayard
Carlsbad
Playas
Lordsburg
Roswell
Silver City
Truth or Consequences
Zone 2 (Texas)
Pecos
Van Horn
Zone 3 (New Mexico)
Clovis
Hobbs
Lovington
Portales
Santa Rosa
Tucumcari
Zone 3 (Texas)
Alpine
Andrews
Ft. Stockton
Kermit
Midland
Monahans
Odessa
Stanton
CITIES CURRENTLY P R OVIDED CURRENCY A N D C OIN SHIPPING SERVICE SEPARATED BY ZONE
ELEVENTH FEDERAL RESERVE DISTRICT
H O U STON OFFICE
City Endpoints (Combined with Suburban Endpoints)
In Texas
City of Houston Banks
Suburban Endpoints (Combined with City Endpoints)
Over-the-Road Endpoints
Zone 1 (Texas)
Alvin
Anahuac
Angleton
Conroe
La Marque
Liberty
Richmond
Rosenburg
Texas City
Tomball
West Columbia
Zone 2 (Texas)
Anderson
Bay City
Beaumont
Bellville
Brenham
Bryan
Caldwell
Clute
College Station
Eagle Lake
El Campo
Freeport
Galveston
Giddings
Huntsville
Kountze
La Grange
Lake Jackson
Livingston
Madisonville
Navasota
Port Arthur
Port Neches
Schulenburg
Silsbee
Snook
Trinity
Zone 3 (Texas)
Crockett
Hallettsville
Jasper
Lufkin
Nacogdoches
Newton
Zone 4 (Texas)
Center
Cushing
Jacksonville
Orange
Palestine
Port Lavaca
Victoria
San Augustine
CITIES CURRENTLY PROVIDED CURRENCY AND COIN SHIPPING SERVICE SEPARATED BY ZONE
ELEVENTH FEDERAL RESERVE DISTRICT
SAN ANTONIO OFFICE
r.it.y Fnfjpoints
In Texas
Downtown San Antonio Banks
Suburban Endpoints
In Texas
City of San Antonio banks except those banks
located in downtown San Antonio
Over-the-Road Endpoints
Zone 1 (Texas)
Bandera
Blanco
Boerne
Falls City
Floresville
Hondo
Karnes City
Kenedy
Kerrville
La Coste
Luling
New Braunfels
Pleasanton
Poth
San Marcos
Seguin
Universal City
Zone 2 (Texas)
Austin
Bastrop
Beeville
Carrizo Springs
Cotulla
Fredericksburg
Georgetown
George West
Goliad
Gonzales
Granger
Junction
Kingsland
Lockhart
Mason
Mathis
Nordheim
Refugio
Rocksprings
Round Rock
Taylor
Woodsboro
Yoakum
Yorktown
Zone 3 (Texas)
Brackettville
Corpus Christi
Del Rio
Eagle Pass
Falfurrias
Hebbronville
Kingsville
Laredo
Robstown
Rockport
Taft
Zone 4 (Texas)
Edinburg
Mission
Rio Grande City
Zone 5 (Texas)
Brownsville
Harlingen
La Feria
McAllen
Zapata
Mercedes
Weslaco
SECURITIES SAFEKEEPING AND NON-CASH COLLECTION SERVICE
SECURITIES
BASIC
PRICE PER
TRANSFER
$ 1 .8 0
BOOK-ENTRY SECURITIES
DEFINITIVE SECURITIES*
SURCHARGE
ACCOUNT
DEPOSIT, WITHACCOUNT
COUPON
PER
MAINTENANCE DRAWAL, REDEMPPER
CLIPPING MAINTENANCE
OFF-LINE
PER
TION
ACCOUNT PER
PER PER MILLION $
ISSUE PAR AMOUNT***
TRANSFER**
ACCOUNT*** TRANSACTION* SWITCH
$ 5 .2 5
$ 6 0 .0 0
PURCHASE
AND SALE
PER MARKET
TRANSACTION
$ 1 6 .7 5
$ 1 9 .0 0
$ 1 0 .0 0
$ 4 .5 0
$ 3 4 .0 0
COUPON COLLECTION
PER
PER
$ 1 ,0 0 0
ENVELOPE
OR ITEM
COUPON
PROCESSED*
VALUE SHIPPED
$2.00
$1.00
*Plus out-of-pocket shipping expenses, insurance fees and fees assessed b> other Federal
Reserve Banks if any.
**Assessed for off-line origination and off-line receipt.
***Per annum assessed on a quarterly basis.
Q U E S T I O N N A I R E ON USE OF FEDERAL RESERVE SERVICES
Institution:
Mailing Address:
C i t y _ _ _ _ _ _ _ _ _ _ _ _ _ C o u _ t y_ _ _ _ _ _ _ _ _ _ _ t a t e _ _ _ _ _ _ _ _ Zip
n_
S
Person Completing: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Title:
Phone:
(
)
-
Extension
Please return this completed questionnaire in the envelope
provided to the Operations Analysis Department, Federal
Reserve Bank of Dallas, Station K, Dallas, Texas 75222 by
October 24, 1980.
DISCOUNT WINDOW
1.
If you have not already done so, do you plan to execute the Reserve Bank
Borrowing Resolution and Continuing Lending Agreement in order to have
the documents on file with the Reserve Bank, should the need to borrow
materialize?
Yes
2.
No
If you Intend to file the borrowing documents and believe It 1s likely
you will be Interested 1n accommodation at the discount window within the
next 12 months, what type or types of collateral would you most probably
use?
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ S. Government or Agency Obligations
U.
_ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _
Municipal Securities
Customer Paper
CHECK COLLECTION
How do you plan to
institutions 1n 1981?
deposit
cash
Items
for
presentment
to
paying
Directly to your Federal Reserve Office
To another financial institution
Estimate your average 1981 daily volume (number of Items) to be deposited
with your Federal Reserve Office:
_ _ _ _ _ _ _Commercial checks, NOW
_ _ _ _ _ _ _ Treasury checks
. -Postal money orders
account Items, or share drafts
If your Institution
will offer checking, NOW,
or
share
draft accounts
1n 1981, how wouldyou prefer to receiveItems
for
payment
by
your
Institution? (Check one)
_ _ _ Items fine sorted for direct presentation to your Institution
” from the Federal Reserve Bank.
_ _ _ Items passed to you through another financial institution or
“ processing center. Name: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ Items passed to you through the head office of your own financial
" Institution.
ACH
Do you plan to receive ACH items through the Federal Reserve Bank in 1981?
_ _ _ Yes _ _ _ _ No
If "yes" do you have facilities to accept entries on
magnetic tape? _ _ _ Yes _ _ _ No
Will you originate ACH items from your Institution in 1981?
_ _ _ _Yes _ _ _ _ _ No
Items? (Check one)
If "yes", how frequently will you originate ACH
a * _ _ _ Weekly b. _ _ _ _ Once every two weeks c. _ _ _ _ Monthly
d. _ _ _ Once every two months e . _ _ _ Other; explain_ _ _ _ _ _ _ _ _ _ _ _ _ _
_
T R A N S F E R OF FUNDS
1.
Do you anticipate using the Federal Reserve communication system to make
wire transfer of funds transactions 1n 1981?
_ _ _ Yes _ _ _ _ No
If you may use this service, please answer the following questions:
2.
How many transfers do you estimate handling dally on average 1n 1981?
~~
3.
Sending _ _ _ Receiving
.
Would your institution be Interested in having an on-line terminal
volume statistics warrant such Installation?
If
_ _ _ Yes _ _ _ _ No _ _ _ _ Already o n - H n e
NET SETTLEMENT
1.
Do you plan to use our net settlement service 1n 1981?
_ _ _ Yes _ _ _ _ No
If "yes", through what clearinghouse or other organization do you
anticipate effecting net settlement entries? _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
C O I N AND CURRENCY
When pricing becomes effective, do you plan to receive coin and currency
directly from the Federal Reserve Bank?
_ _ _ Yes _ _ _ _ No
If your above answer is yes, please answer the following questions.
With what frequency will you require this service?
Weekly
_ _ _ _ Once every two weeks
_ _ _ _ _ Monthly_ _ _ _ Other;
s p e c i f y_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
What will be your average dollar amount of
(a) an order of currency and coin?
$_ _ _ _ _ _ _ _
(b) a deposit of currency and coin?
$_ _ _ _ _ _ _ _
Do you plan to use Federal Reserve provided transportation for pickup and
delivery of currency and coin?
Yes
No
T R A N S F E R OF SECURITIES
Does your institution plan to transfer securities through your Federal
Reserve Office In 1981?
Yes
No
If you expect that your institution may use this service 1n 1981, please
answer the following questions.
How do you expect to hold securities which you may wish to transfer?
_ _ _ Safekeeping at^'the Federal Reserve Bank
_ _ _ Your institution's or another institution's own vault
How many transfers of securities, both incoming and outgoing, does your
institution expect to process through your Federal Reserve Office each
month?
_ _ _ Number incoming
_ _ _ _ Number outgoing
How do you anticipate processing these security transfers?
_ _ _ On-line (terminal)
(Check one)
_ _ _ _ Off-line (telephone request)
NON-CASH COLLECTIONS
Will your Institution submit
Office for collection in 1981?
non-cash
Items
to your Federal
Reserve
_ _ _ Yes _ _ _ _ No
If your Institution will use this service, please estimate by type the
average number of non-cash items that your institution anticipates
processing each month through your Federal Reserve Office for collection.
Municipal and corporate coupons
Banker's acceptances
Checks with special instructions attached
Other; explain
SAFEKEEPING
Does your Institution anticipate use of the safekeeping service at your
Federal Reserve Office 1n 1981?
_ _ _ Yes _ _ _ _ No
If you may use this service, please provide the following information:
Estimate the number of pieces per Issue in each of the types of
securities that your institution may deposit for safekeeping with your
Federal Reserve Office.
_ _ _ Municipal and state bonds
_ _ _ Corporate bonds
_ _ _ _ Other
What is the estimated volume of transactions each month?
issues)
_ _ _ Deposits
(Number of
_ _ _ _ Withdrawals
PURCHASE
AND
SALE
OF
S E C U R IT IE S
Will your institution use your Federal Reserve Office for the purchase
and sale of securities 1n 1981?
_ _ _ Yes _ _ _ _ No
If your Institution will
following:
use the Federal
Reserve,
please answer the
How many times a month, on average, do you estimate using your Federal
Reserve Office for this service?
How would you prefer these securities be held?
_ _ _ Safekeeping at your Federal Reserve Office
_ _ _ In your own vault
@FedFRASER