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F ederal reserve Bank DALLAS, TEXAS of Dallas 75222 Circular No. 82-19 February 18, 1982 REPORT OF TRANSACTION ACCOUNTS, OTHER DEPOSITS AND VAULT CASH (FR 2900) TO THE FINANCIAL INSTITUTION ADDRESSED IN THE ELEVENTH FEDERAL RESERVE DISTRICT: The Econom ic R eco v ery Tax A c t o f 1981 broadens elig ib ility for Individual R e tir e m en t A ccounts (IRAs) and increases the maximum con tribution allow able for both IRAs and Keogh Plan accou n ts. As part o f the deregulation o f in terest rate ceilin g s, the D epository Institutions D eregulation C o m m itte e (DIDC) authorized depository institu tions to o ffe r a new c e ilin g fr e e IRA /K eogh tim e deposit e f f e c t i v e D e cem b er 1, 1981. Consequently, IRAs and Keogh Plan accou n ts could grow rapidly this year. In order to assist the Federal R e se r v e in its in terpretation o f m o vem en ts in the m onetary a g g reg ates, inform ation on the to ta l volum e o f IRA and Keogh dep osits is needed. The Federal R ese r v e System is conducting a survey to obtain monthly inform ation on the am ount outstanding in IRA and Keogh Plan a ccou n ts. This survey is e n title d "Monthly Survey o f IRA and Keogh Plan Accounts" (FR 2970; OMB No. 7100-0164), and will be conducted for the months o f February, March and April o f 1982. All depository institu tions that subm it the Report o f Transaction A ccounts, Other D ep osits and Vault Cash (FR 2900) on a w eekly basis are required to submit this new monthly report. The amount outstanding o f all tim e and savings d ep osits held in IRA and Keogh Plan accou n ts as o f the la st Wednesday o f each month beginning with the month o f February 1982 are to be reported. If you are unable to provide data as o f the la st Wednesday o f the month, data as o f the la st business day o f the month is a c c ep ta b le . IR A /K eogh accounts are now included in personal and nonpersonal savings and tim e d ep osits (Item s 10, 11, 13, and 14) on the Report o f Transaction A ccou n ts, Other D ep osits and Vault Cash (FR 2900), but are not shown sep a ra tely on that report. The new FR 2970 report does not change the reporting o f this inform ation on the FR 2900. Banks and others are encouraged to use the following incoming W A T S numbers in contacting this Bank; 1-800-442-7140 (intrastate) and 1-800-527-9200 (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) - 2 - C opies o f th e new reporting form and self-ad d ressed en velop es are en clo sed for your use. February reports are due to this Bank on Tuesday, March 2. March reports will be due Tuesday, April 6 and April reports will be due Tuesday, May 4. Q uestions regarding the survey should be d ir e c te d to Stephen Welch o f our S ta tis tic a l D ep artm en t at (214) 651-6294. If you cannot m ail the form s by th e d a te s lis te d above, p le a se telep h on e the inform ation to Tara Kuban, (214) 651-6141; Linda R o c k e tt (214) 651-6254; or Deborah Perkins (214) 651-6645. Your cooperation in c o m p le tin g and returning th e se reports in a tim e ly manner will be very much appreciated. Additional c o p ies o f this circular w ill be furnished upon request to th e D ep artm en t o f C om m unications, Financial and C om m unity A ffairs, Ext. 6289. S incerely yours, William H. W allace First Vice President Enclosure FR 2970 OMB No. 7100-0164 Approval expires— April 1982 Monthly Survey of IRA and Keogh Plan Accounts as of ____________ 19 (month) (year) This report is required by law [12 U.S.C. §248(a) and §461]. The Federal Reserve System regards the infor mation provided by each respondent as con fidential. If it should be determined subsequently that any information collected on this form must be released, respondents will be notified. If you have no IRA or Keogh Plan deposits, please check this box, sign the form, and return it to the Reserve Bank. If you have any IRA or Keogh Plan deposits, please complete this form. Please check one of the boxes below: Data are as of the last Wednesday of the month Data are as of the last business day of the month Amount Outstanding (in thousands of dollars) Mils. Thous. Bils. All time and savings deposits held in IRA and Keogh Instructions: Report the total amount outstanding of all time and savings deposits held in IRA and Keogh Plans as of the last Wednesday of the month. (If you are unable to provide data as of the last Wednesday of the month, you may report as of the last business day of the month. Please indicate which as-of date your report reflects by checking one of the boxes above.) Include all IRA and Keogh Plan time and savings deposits regardless of size, maturity, interest rate paid, or applicability of interest rate ceilings. (Such deposits are included in Items 10, 11, 13, and 14 on the Report of Transaction Accounts, Other Deposits and Vault Cash (FR 2900).) Individual Retirement Accounts (IRAs) are established under the Internal Revenue Code to encourage savings for retirement by individuals. Keogh Plans (H.R.10) are similar to IRAs but are established by self-employed individuals for themselves and/or their employees. Person to be contacted concerning this report (Area Code) Telephone Number and Extension