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Federal R eserve Bank OF DALLAS ROBERT D. M c T E E R , J R . DALLAS, TEXAS p re s id e n t A N D C H IE F E X E C U T I V E O F F I C E R 1n flC November 8, 1996 7 5 2 6 5 -5 9 0 6 Notice 96-112 TO: The Chief Executive Officer of each member bank and others concerned in the Eleventh Federal Reserve District SUBJECT Quarterly Table of Factors to Adjust Interest Income DETAILS The Board of Governors of the Federal Reserve System has released its quarterly table of factors to adjust interest income for use by section 20 companies that adopt the Board’s alternative index revenue test to measure compliance with the 10percent limit on bank-ineligible securities activities. This table, intended for use in the current quarter, is based on average interest rates prevailing during the immediately prior quarter. ATTACHMENT The Board’s quarterly table of factors is attached. MORE INFORMATION For more information, please contact Bobby Coberly at (214) 922-6209. For additional copies of this Bank’s notice, please contact the Public Affairs Department at (214) 922-5254. Sincerely yours, For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal Reserve Bank of Dallas: Dallas Office (800) 333 -4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012; Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) Adjustment Factors for Interest Income of Section 20 Subsidiaries October 2, 1996 Ratio of Interest Rates to those in September 1989 1994 Duration 1995 1996 Q4 Ql Q2 Q3 Q4 Ql Q2 Q3 One 1.66 1.42 1.35 1.40 1.43 1.55 1.52 1.52 Three 1.48 1.36 1.39 1.45 1.48 1.58 1.56 1.53 Six 1.36 1.29 1.39 1.46 1.50 1.61 1.53 1.50 Twelve 1.25 1.23 1.39 1.46 1.51 1.61 1.46 1.43 Two 1.16 1.14 1.34 1.40 1.50 1.54 1.32 1.32 Three 1.11 1.12 1.31 1.37 1.47 1.51 1.29 1.28 Four 1.07 1.11 1.29 1.34 1.44 1.47 1.26 1.25 Five 1.08 1.11 1.29 1.34 1.44 1.45 1.25 1.24 Six 1.07 1.11 1.27 1.33 1.43 1.43 1.24 1.24 Seven 1.06 1.10 1.25 1.31 1.42 1.40 1.23 1.22 Ten 1.04 1.08 1.21 1.26 1.37 1.34 1.19 1.19 Twenty 1.00 1.05 1.13 1.17 1.26 1.24 1.13 1.13 Thirty 0.99 1.03 1.12 1.15 1.25 1.23 1.14 1.11 Months Years Note: Adjustment factors were calculated using secondary-market quotes of the yields on Treasury bills for durations of one, three, six, and twelve months and on STRIPs, or zero-coupon Treasury securities, for durations two years and greater. Data are averages of Wednesday observations.
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