The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F ed e r al r e s e r v e B DALLAS. TEXAS a n k o f D a lla s 75222 C ir c u la r No. 79-111 June 27, 1979 REGULATION Q— INTEREST ON DEPOSITS A n no u n ce m e n t o f Rate fo r F o u r-y e a r Money M a rk e t C e rtific a te s o f D eposit TO A L L MEMBER BANKS AND OTHERS CONCERNED IN THE ELEVENTH FEDERAL RESERVE D IS T R IC T : B e g in n in g J u ly 1, 1979, m em ber ban ks a re p e rm itte d to o ffe r a n o n n e g o tia b le tim e d e p o s it w ith a m a tu rity o f fo u r y e a rs o r m ore at a ra te tie d to the a ve ra g e fo u r - y e a r y ie ld on U n ite d States T r e a s u r y s e c u ritie s . T h e ra te is fix e d fo r the m a tu rity o f each fo u r - y e a r d e p o s it, b u t the c e ilin g its e lf v a rie s fro m month to m onth. M em ber b a n ks a re p e rm itte d to com pound and com pute in te re s t on th is d e p o s it in acco rd a n ce w ith a n y o f the m ethods a u th o riz e d by S ection 217.3 o f R e g u la tio n Q . For the m onth o f J u ly 1979, the c e ilin g ra te o f 7.60 p e rc e n t is a u th o riz e d fo r com m e rcial b a n k s . T h is ra te is the m axim um w h ic h ban ks s h o u ld pay fo r the fo u r -y e a r m oney m a rke t c e rtific a te s sold d u r in g the m onth. M em ber banks w ill be a d v is e d each m onth o f th e m axim um c e ilin g ra te fo r the su ccee ding m onth. Q uestions re g a rd in g R e g u la tio n Q sh o u ld be d ire c te d to the C onsum er A ffa ir s S ection o f o u r B ank S u p e rv is io n and R e g u la tio n s D e p a rtm e n t, E x t. 6171. S in c e re ly y o u r s , R o b e rt H . B o y k in F ir s t v ic e P re s id e n t Banks and others are encouraged to use the following incoming WATS numbers in contacting this Bank: 1-800-492-4403 (intrastate) and 1-800-527-4970 (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)
@FedFRASER