View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Federal

reserve

Bank

OF DALLAS

Dallas, Texas, October 6,1944

METHOD OF REPORTING REDEEMED UNITED STATES SAVINGS
BONDS IN RENDERING REPORTS OF DEPOSITS AND
CONDITION REPORTS

To Member Banks in the
Eleventh Federal Reserve District:
This refers to Treasury Department Circular No. 750 and related docu­
ments regarding the redemption of United States savings bonds on and
after October 2,1944. Inquiries have been received as to how member banks
should report bonds redeemed in reports of condition, whether the redemp­
tion will affect net demand deposits subject to reserve, and how reimburse­
ments received for services in paying bonds should be shown in reports of
earnings and dividends.
If the banks’ practice is to forward the bonds daily or every other day,
the redeemed bonds should be reported as cash items in process of collection
in weekly and semimonthly reports of deposits submitted for reserve pur­
poses and in call reports of condition. If the banks’ practice is to hold the
bonds for a longer period, the redeemed bonds should be reported as cash
items not in process of collection, Schedule H, item 4, in call reports of con­
dition, until such time as they are forwarded for collection, when, as de­
scribed above, they should be reported as cash items in process of collection.
The reimbursements received for services in paying savings bonds should
be reported in earnings and dividends reports against item 1(e), other
service charges, commissions, fees, collection and exchange charges, etc.

Yours very truly,
R. R. GILBERT
President

ICTORY
BUY
V K IT 6D
STATES

W AR
BO N D S
AMO

STAMPS

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102