Full text of District Notices (Federal Reserve Bank of Dallas) : Reclassification of Treasury Tax and Loan Depositaries, Circular No. 72-105

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

of

Dallas

F IS C A L A G E N T O F T H E U N ITED S T A T E S
D A L L A S ,T E X A S

75222

Circular No. 72-105
June 2, 1972
RECLASSIFICATION OF TREASURY TAX AND
LOAN DEPOSITARIES
To the Treasury Tax and Loan Depositary Bank Addressed:
At the direction of the Treasury Department, Treasury Tax and Loan deposi­
taries are to be reclassified into three groups as of the close of business June 20,
1972. The reclassification is being made on the basis of the total of each bank's de­
posits in the tax and loan account, as shown on the records of this Bank, during the
period April 1 through December 31, 1971. Included in the total are all items depos­
ited in the account other than new borrowings by the Treasury in connection with the
purchase of marketable government securities. The three groups are as follows:
Group A - All depositaries which had total deposits of less than $5?000,000
during the period.
Group B - (l) All depositaries which had total deposits between $5,000,000
and $^9 ,999,999 during the period, and (2) depositaries which had
total deposits between $50,000,000 and $100,000,000 during the
period, but whose total deposit liability (both demand and time)
was less than $100,000,000 on December 31, 1971*
Group C - (l) All depositaries which had total deposits of $100,000,000 or
more during the period, and (2 ) depositaries which had total de­
posits between $50,000,000 and $100,000,000 during the period,
but whose total deposit liability (both demand and time) exceeded
$100,000,000 on December 31, 1971* (The total deposit figures
for Group C banks do not include redeposits.)
The group designations assigned to banks will prevail from June 20, 1972, un­
til further notice. Banks whose designations are changed will be notified.
In the future, the Treasury proposes to reclassify depositaries annually on
the basis of the total deposits in each bank’s tax and loan account for the previous
calendar year, exclusive of redeposits with Group C depositaries. In 1973 depositaries
will be reclassified by combining (l) total deposits, excluding payments for subscrip­
tions to government securities and redeposits in Group C banks for the first six months
of 1972, with (2) total deposits, excluding redeposits in Group C banks for the last
six months of 1972. Thereafter reclassification will be based on total deposits in
tax and loan accounts, excluding redeposits in Group C banks.
Yours very truly,

P. E. Coldwell
President

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