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F ederal Reserve Ban k DALLAS. TE X A S of Dallas 75222 Circular No. 79-176 October 29, 1979 REGULATION Q—INTEREST ON DEPOSITS Announcement of Rate for F o u r-y e a r 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 w ere perm itted to offer a non negotiable time deposit with a m aturity of four y e a rs o r more at a ra te tied to the av erag e fo u r-y e a r yield on United States T r e a s u ry s e c u ritie s . T he rate is fixed for the m aturity of each fo u r-y e a r deposit, b u t the ceiling itself v aries from month to month. Member banks a r e perm itted to compound and compute in tere st on this deposit in accordance with any of the methods authorized by Section 2 1 7 .3 of Regulation Q . For the month of November 1979, the ceiling rate of 10.30 p ercen t is authorized for commercial b a n k s . T h is rate is the maximum which banks should pay for the fo u r-y e a r money m arket certificates sold d u rin g the month. Questions re g a rd in g Regulation Q should be d ire cted to the Consumer Affairs Section of ou r Bank S upervision and Regulations Department, Ext. 6171. S incerely y o u r s , Robert H . Boykin F irs t Vice P resid en t B a n k s and 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 T S 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 ) and 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 s e 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)
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