The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
federal R eserve Ba n k o f D allas DALLAS. TEXAS 75222 Circular No. 80-180(B) Septem ber 19, 1980 MONETARY CONTROL ACT - RESERVE REPORTING TO THE CHIEF EXECUTIVE OFFICER OF AFFECTED COMMERCIAL BANKS, SAVINGS AND LOAN ASSOCIATIONS, CREDIT UNIONS, EDGE ACT AND AGREEMENT CORPORATIONS IN THE ELEVENTH FEDERAL RESERVE DISTRICT: On March 31, 1980 the Monetary Control Act of 1980 was enacted, extending reserve requirements to nearly all depository financial institutions. The Act requires your institution to file data reports with a Federal Reserve Bank or Branch office. The Federal Reserve will use this information to compute the amount of reserves that your financial institution will be required to maintain. This procedure is described in Federal Reserve Regulation D which was distributed to your organization with our Circular 80-170 of September 9, 1980. Enclosed are copies of two Federal Reserve reporting forms, instruction booklet. The forms are: and an (1) Report of Transaction Accounts, Other Deposits and Vault Cash (FR 2900) (2) Report of Certain Eurocurrency Transactions (FR 2950) Your financial institution is required by Regulation D to begin filing the FR 2900 with the Federal Reserve office indicated on the report form. The Federal Reserve deferred data reporting and reserve maintenance under the Act for smaller financial institutions. Institutions such as yours that had total deposits of $1 million or more, but less than $5 million, on December 31, 1979 will file quarterly FR 2900 reports beginning January 1981. A copy of form FR 2950 must also be filed if your institution had any eurocurrency borrowings during a reserve computation period. A bulk supply of reporting forms, reporting schedules, pre-addressed envelopes and additional information will be sent to your institution under separate cover at a later date. The forms will be identical to those enclosed, except that identification labels will be affixed to the supply of FR 2900 forms. If there are any questions regarding the report forms or instructions, they should be directed to the Statistical Department at the Dallas Office (214) 651-6141 or Ext. 6142; or to the Accounting Department at the Houston Office, (713) 659-4433; San Antonio Office, (512) 224-2141; or El Paso Office, (915) 544-4730. Sincerely yours, Ernest T. Baughman Enclosures President Banks and others are encouraged to use the following incoming W A T S 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)