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F ederal r e s e r v e Bank OF DALLAS Dallas, Texas, June 6, 1961 To the Member Banks in the Eleventh Federal Reserve District: On May 25, 1960, we sent you a description of a coding system for demand deposit accounts which might be used to compile information for official reports, such as the Report of Condition, by banks utilizing electronic accounting and data-processing equipment. In the interim period, a Federal Reserve committee has developed a proposed classification of savings and other time deposits for possible use by such banks. A copy of the proposed classification is enclosed. We are sending this material to the member banks in the Eleventh Dis trict with the thought that it will be helpful for those using automated accounting or planning to do so. The classification is not sent as a request for additional data from member banks but merely as a guide for auto mating banks. If you have any questions about this classification, please contact Mr. Zenas B. Smith of our Research Department, who will help you in any way he can. Yours very truly, Watrous H. Irons President Enclosure This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM PROPOSED CLASSIFICATION OF SAVINGS AND OTHER TIME DEPOSITS OF COMMERCIAL BANKS I. II. III. IV . V. S a v in g s d e p o sits]./ A. Dom estic n o n p r o fit o r g a n iz a tio n s B. O ther s a v in g s d e p o s its D e p o sits accum ulated f o r payment o f p e r s o n a l lo an s C h ristm as s a v in g s and s im ila r acco u n ts N e g o tia b le tim e c e r t i f i c a t e s o f d e p o s it A. Iss u e d to dom estic h o ld e rs B. Issu e d t o f o r e ig n h o ld e r s l/ O ther tim e d e p o s its o f i n d iv id u a ls , p a r tn e r s h ip s , and c o r p o r a tio n s in th e U n ite d S t a t e s A. N o n p ro fit o r g a n iz a tio n s B. I n d iv id u a ls and n o n co rp o rate n o n fin a n c ia l b u sin e ss C. C o rp o ra te n o n fin a n c ia l b u sin e ss D. F in a n c ia l b u s in e s s 1. 2. VI. T r u s t departm ents o f banks a. Own bank b. O ther com m ercial banks O ther f i n a n c i a l b u s in e s s Dom estic government A. B. U . S . Government 1. P o s t a l S a v in g s System 2. O ther U. S . Government d e p o s its S t a t e s and p o l i t i c a l s u b d iv is io n s 2 V II. V III. Banks in th e U n ite d S t a t e s A. Com m ercial hanks (e x c lu d in g t r u s t departm ents o f com m ercial h a n k s) B. M utual s a v in g s banks O ther tim e d e p o s its o f f o r e ig n h o ld e r s l/ A. F o re ig n governm ents and o f f i c i a l i n s t i t u t i o n s , c e n t r a l hanks, and i n t e r n a t i o n a l i n s t i t u t i o n s B. Banks in f o r e ig n c o u n tr ie s (in c lu d in g b a la n c e s o f fo r e ig n bran ch es o f o th e r Am erican hanks) C. O ther f o r e i g n h o ld e rs l / A l l hanks o r h an kin g o f f i c e s h a v in g l i a b i l i t i e s to fo r e ig n e r s on t h e i r own a cco u n t o r f o r th e a cco u n t o f o th e rs a v e r a g in g $500,000 or more o v e r any 6-month p e r io d a re r e q u ir e d to r e p o r t t o th e T re a s u ry on th e s e l i a b i l i t i e s b y c o u n tr y . The T re a s u ry Form B - l p ro v id e s a 2 - d i g i t c o u n try co d e , w hich c o u ld he u sed to i d e n t i f y each o f th e a p p ro x im a te ly 60 c o u n tr ie s f o r w hich a s e p a ra te f i g u r e must be su b m itte d . Banks r e p o r t in g on t h i s form a l s o need to p ro v id e a 3-way breakdown o f f o r e i g n h e ld s a v in g s d e p o s its (item I ) and n e g o tia b le tim e c e r t i f i c a t e s is s u e d t o fo r e ig n e r s (ite m IV-B) i d e n t i c a l w ith t h a t shown f o r f o r e ig n h o ld in g s o f o th e r tim e d e p o s its (item V I I I ) . NOTE.--Banks d e s ir in g to s e g r e g a te n o n n e g o tia b le tim e c e r t i f i c a t e s o f d e p o s it from tim e d e p o s it s , open a c c o u n t, may w ish t o d evelo p a d d it io n a l codes w ith in t h i s c l a s s i f i c a t i o n s t r u c t u r e or to use an overpunch i f a punch c a rd t a b u la t in g system i s u se d . Banks d e s ir in g to in c o r p o r a te a m a tu r ity c l a s s i f i c a t i o n , such as t h a t e s t a b li s h e d in R e g u la tio n Q f o r d eterm in in g i n t e r e s t r a t e c e i l i n g s , may w ish to d e ve lo p a d d i t i o n a l codes w ith in t h i s c l a s s i f i c a t i o n s t r u c t u r e . A c l a s s i f i c a t i o n b a se d on tim e to m a tu r ity m ight be o f s p e c i a l i n t e r e s t f o r i n t e r n a l management p u r p o s e s .
@FedFRASER