The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F ederal Reserve Bank D ALLAS, TE X A S of D allas 75222 C ir c u la r No. 79-163 S eptem ber 2 7, 1979 REGULATION Q—INTEREST ON DEPOSITS Announcement of Rate for F o u r -y ear Money Market Certificates of Deposit TO ALL MEMBER BANKS AND OTHERS CONCERNED IN THE ELEVENTH FEDERAL RESERVE DISTRICT: Beginning J u ly 1, 1979, member banks were permitted to offer a non negotiable time deposit with a maturity of four y e a r s or more at a rate tied to the a v er ag e f o u r- y e a r yield on United States T r e a s u r y s ecu rities . The rate is fixed for the maturity of each f o u r- y e a r deposit, but the ceiling itself varies from month to month. Member banks ar e permitted to compound and compute in te re st on this deposit in accordance with any of the methods authorized by Section 2 17.3 of Regulation Q. For the month of October 1979, the ceiling rate of 8 .2 5 percent is authorized for commercial b a n k s . This rate is the maximum which banks should pay for the f o u r - y e a r money market certificates sold durin g the month. Questions r e g a rd i n g Regulation Q should be directed to the Consumer Affairs Section of our Bank Supervision and Regulations Department, Ext. 6171. Sincerely y o u r s , Robert H . Boykin First Vice President B a n k s a nd o th e rs are e n c o u ra g e d to use th e fo llo w in g in c o m in g W A TS n u m b e rs in c o n ta c tin g th is Bank: 1-800-442-7140 (in tra s ta te ) a nd 1-800-527-9200 (in te rs ta te ). F o r c a lls p la c e d lo c a lly , p le a se use 651 p lu s th e e x te n s io n re fe rre d to above. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
@FedFRASER