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Federal R eserve Bank
OF DALLAS
W ILLIAM H. W ALLACE

DALLAS, TEXAS 75222

F IR S T V ICE P R E S ID E N T

June 21, 1985
Circular 85-82

TO: All depository institutions in the
Eleventh Federal Reserve District
SUBJECT
Revised Bulletin 4 - Reserves of Depository Institutions
DETAILS
A revised Bulletin 4, Reserves of Depository Institutions, has been
prepared-as of June 1, 1985. Section 6 has been added to summarize the
current policies and procedures that govern Pass-Through Reserve Balances.
Also, the 1985 Schedule of Computation and Related Reserve Maintenance Periods
is included in Supplement A (for weekly FR 2900 Reporters) and Supplement B
(for quarterly FR 2900 Reporters).
ATTACHMENTS
Attached is a copy of the revised Bulletin 4.
MORE INFORMATION
For further information, please contact Robert Feil at (214)
651-6690, or Evelyn Thomas at (214) 651-6132 at the Head Office.
Sincerely yours,

For additional copies of any circular please contact the Public Affairs Department at (214) 651-6289. Banks and others are
encouraged to use the following incoming WATS numbers in contacting this Bank (800) 442-7140 (intrastate) and (800)
527-9200 (interstate).

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

BULLETIN 4

Reserves of
Depository Institutions

FEDERAL RESERVE BANK OF DALLAS

SCOPE
This bulletin sets forth general information pertaining to reserve balances that depository
institutions are required by Section 19 of the Federal Reserve Act and Regulation D of the
Board of Governors of the Federal Reserve System to m aintain with this bank.

TABLE OF CONTENTS
Section 1, DEFINITIONS

Section 4, RESERVE COMPUTATION

1.00 FR 2900 Report
1.05 Contemporaneous Reserve Requirements
(CRR)
1.10 Computation Period
1.15 M aintenance Period
1.20 Reference to Bulletin 1

4.00 How to compute reserves
4.05 Period to which computation applies
4.10 Reserve balance
Section 5, PENALTIES
5.00
5.05
5.10
5.15

Section 2, TERMS
Section 3, FR 2900 REPORT
3.00 Submission of FR 2900 Report
3.05 FR 2900 Report determ ines reserve
requirem ent
3.10 Determination of balances at close of
the banking day
3.15 Correct completion of
FR 2900 Report

6-85

Penalties for reserve deficiencies
Assessment of penalties
Penalty rate
W aiver of penalties

Section 6, PASS-THROUGH RESERVE
BALANCES
6.00 General
6.05 Designation
6.10 M aintenance of reserves

i

BULLETIN 4

FEDERAL RESERVE BANK OF DALLAS

Computation Period for Non-Personal Time and
Savings Deposits, Eurocurrency Liabilities and
Vault Cash: (for Weeklly Reporters)—A two-week
period which ends on a Monday, 17 days before
the beginning of the corresponding m aintenance
period; also called lagged computation period.
The reserve requirem ents on non-personal time
and savings deposits and Eurocurrency liabilities
are calculated based on d a ta draw n from this
period. M oreover, vault cash from the period is
used to satisfy all reserve requirem ents in the
corresponding m aintenance period. (See Supple­
ment A for c u rren t schedule.)

Section 1, DEFINITIONS
1.00 FR 2900 Report
“FR 2900 Report” m eans the Report of T ran sac­
tion Accounts, O ther Deposits and Vault Cash,
Form FR 2900, sufficient copies of which are an­
nually supplied to depository institutions and
e x tra copies of which may be obtained from this
bank as needed.
1.05 Contemporaneous Reserve Requirements
(CRR)
Effective February 2, 1984, weekly reporting in­
stitutions are required to m aintain reserves on
their transaction account balance “contem­
poraneously,” i.e., with a two-day lag, while
r e s e r v e r e q u ir e m e n ts on n o n - tr a n s a c tio n
liabilities continue to be met on a lagged basis. It
is im portant to note th at CRR places a greater
responsibility on depository institutions to project
their own reserve requirem ents on transaction
accounts because the Reserve Bank will not be
able to supply depository institutions with final
re s e rv e re q u ire m e n ts in ad v a n ce of the
m aintenance period.

Computation period (for Q uarterly Reporters)—A
one-week period beginning on the third Tuesday
of M arch, June, September and December and
ending the following Monday, which corresponds
to a Reporting Period. (See Supplement B for cur­
ren t schedule.)
1.15 Maintenance Period
“M aintenance Period” (for Weekly Reporters)
m eans the two-week— 14 days—reserve period
starting on a Thursday and ending on the second
W ednesday thereafter. In other words, the
m aintenance period will end only two days after
the end of its corresponding contemporaneous
computation period, but 30 days after the end of
its corresponding lagged computation period. Set­
tlement day will then be every other W ednesday.

1.10 Computation Period
“Computation Period” (for Weekly Reporters)—A
two-week period beginning on a Tuesday and end­
ing on the second Monday thereafter, which con­
sists of two Reporting Periods. Data from two
sep ara te computation periods a re required to
calculate the Total Reserve Requirement to be
m aintained during a given M aintenance Period.
These are:

“M aintenance Period” (for Q uarterly Reporters)
means the thirteen one-week periods which begin
on the fourth Thursday following the end of the
M arch, June, September and December computa­
tion period, during which a depository institution
holds Reserve and Clearing Balances to satisfy its
Total Balance Requirement. A given m aintenance
cycle for quarterly reporters ends on the fourth
W ednesday after the close of the institution’s
next computation period.

Computation Period for Transaction Accounts:
(for Weekly Reporters)—A two-week period
which begins on a Tuesday, two days before the
beginning of the corresponding M aintenance
Period; also called the contemporaneous com­
putation period. The reserve requirem ent on
Transaction Accounts is calculated based on d a ta
draw n from this period. (See Supplement A for
current schedule.)

6-85

1.20 Reference to Bulletin 1
Several definitions, rules of Construction, and

1

BULLETIN 4

FEDERAL RESERVE BANK OF DALLAS

balance for a non-banking day will be identical
with the balance for the immediately preceding
banking day. We compute each depository institu­
tion’s balance with us at the end of each day.

other provisions applicable to this Bulletin are
found in our Bulletin 1, “General Provisions,” and
are incorporated herein by reference.
Section 2, TERMS

3.15 Correct completion of FR 2900 Report
Terms used in this Bulletin will have the same
meanings given them in the M onetary Control Act
of 1980 and in Regulation D of the Board of Gover­
nors, unless otherwise indicated.

Detailed instructions for the preparation of the
FR 2900 Report, including a glossary of terms, are
furnished to all reporting depository institutions.
Section 4, RESERVE COMPUTATION

Section 3, FR 2900 REPORT

4.00 How to compute reserves
3.00 Submission of FR 2900 Report

W orksheets are provided by the Federal Reserve
Bank of Dallas for use in determining the amount
of reserves a depository institution must m aintain
with us. Depository institutions are encouraged to
m aintain curren t computations of their required
reserves so th at they will be aw are of their re­
quired reserve position* and be able to verify the
required reserves shown on the Reports of Re­
quired Reserves. Copies of the worksheets are
available upon request.

Each weekly and quarterly reporting depository
institution shall send this Bank a weekly or
quarterly FR 2900 Report. This Report should be
completed and mailed in time to reach this Bank
by the W ednesday following the Monday report
period ending date. Depository institutions
transm itting their d a ta through the Federal
Reserve Bank of D allas’ RESPONSE netw ork via
the Remote Edited Deposits System (REDSYS)
should do so by no late r than 2:00 p.m. on the
Tuesday following the Monday report period end­
ing date.

4.05 Period to which computation applies
For weekly reporters, the reserve computation
m ade by a depository institution represents the
reserves required to be m aintained during the
M aintenance Period, which ends only two days
after the end of its corresponding contem­
poraneous computation period, but 30 days after
the end of its corresponding lagged computation
period. For quarterly reporters, the related
seven-day m aintenance periods begin on the
fourth Thursday following the end of M arch, June,
September and December computation period
and ends on the fourth W ednesday after the close
of the institution’s next computation period.

3.05 FR 2900 Report determines reserve
requirement
The FR 2900 Report of a depository institution will
determine the amount of reserves required to be
m aintained in its reserve balance for the
M aintenance Period. As provided in Section
204.3(c) of Regulation D, the reserve requirem ents
of depository institutions are determ ined on the
basis of average daily deposit balances and
average daily vault cash during the Computation
Period, as set out in the FR 2900 Report(s) for that
period.

4.10 Reserve balance
3.10 Determination of balances at close of the
banking day

The reserve balance of a depository institution
shall consist of the depository institution’s
average daily balance with this Bank a t the end of
each day during the related M aintenance Period.

The balance for each day should reflect the
balance at the close of business th at day. The

6-85

2

BULLETIN 4

FEDERAL RESERVE BANK OF DALLAS

Section 6, PASS-THROUGH RESERVE BALANCES

Section 5, PENALTIES

6.00 General

5.00 Penalties for reserve deficiencies

This section sets forth the term s for pass-through
reserve balances m aintained by pass-through cor­
respondents, including depository institutions
th at m aintain required reserves at this Bank,
Federal Home Loan Banks, the Central Liquidity
Facility of the National Credit Union Adm inistra­
tion, head or bran ch offices of an Edge or Agree­
ment Corporation, United States branches and
agencies of foreign banks, or other authorized in­
stitutions, for respondents located in this Federal
Reserve District, as provided in Section 204.3(i) of
Regulation D of the Board of Governors of the
F e d e r a l R e s e rv e System (“ P a s s -T h ro u g h
C orrespondents” ).

Depository institutions will be notified in writing
of any reserve deficiency. Any excess or deficien­
cy of a depository institution’s required reserves
will be ca rrie d forw ard to the following reserve
m aintenance period to the extent such excess or
deficiency does not exceed 2 % of the reserves re ­
quired in the m aintenance period in which the ex­
cess or deficiency occurred. Any excess or defi­
ciency greater th an 2% will not be ca rrie d for­
w ard. Any portion of the 2% allowable excess or
deficiency not offset in the immediately following
reserve m aintenance period may not be again c a r­
ried forw ard to subsequent m aintenance periods.

A depository institution desiring to serve as a
Pass-Through Correspondent for an institution
located in another Federal Reserve District (a
depository institution, a bran ch or agency of a
foreign bank, or a head or bran ch office of an
Edge or Agreement corporation) should contact
the Federal Reserve Bank of the District in which
the proposed respondent is located. This Bulletin
does not apply to such pass-through a r ­
rangem ents involving respondents located in
other Federal Reserve Districts.

5.05 Assessment of penalties
A deficiency penalty will be assessed on the 25th
day of the month, two months following the month
in which one or more reserve deficiencies are in­
curred. If the 25th day of the month is on a non­
banking day, the penalty will be assessed on the
first banking day following the 25th.
5.10 Penalty rate
Penalties are assessed at a rate of 2 % per annum
greater than the lowest rate in effect for borrow ­
ings from this Bank on the first day of the calen­
d ar month in which the deficiency or deficiencies
occurred as stated in the Supplement A to
Bulletin 2.

6.05 Designation
A nonmember depository institution, a bran ch or
agency of a foreign bank, or a head or branch of­
fice of an Edge and Agreement corporation
located in the Eleventh Federal Reserve District
(“Respondent” ) may elect to m aintain its required
reserve balances with this Bank or through a
Pass-Through Correspondent by designating a
Pass-Through Correspondent in a “Pass-Through
Agreem ent” letter in the form set forth in Exhibit
I of this Bulletin. The Pass-Through Correspon­
dent designated in th at letter must also execute
the letter and forw ard it to us. The designation of
a Pass-Through Correspondent will become effec­
tive on the date specified by us in letters to the

5.15 Waiver of penalties
This Bank has discretionary power to waive
penalties for deficiencies, and such power shall
be exercised on a case-by-case basis with p a r ­
ticular attention given to instances in which the
penalty would be small and the depository institu­
tion is making appropriate efforts to m aintain
adequate reserves.

6-85

3

BULLETIN 4

FEDERAL RESERVE BANK OF DALLAS

and retain for a period of a t least five years
records showing all transactions affecting the
m aintenance of reserve balances by each of its
Respondents.

Pass-Through Correspondent and the Respondent
acknowledging receipt of the Agreement.
If the Pass-Through Correspondent is located in
the Eleventh Federal Reserve District, it may elect
to include its Respondents’ pass-through reserve
balances in its reserve account (“Reserve Ac­
count” ), or may elect to establish at the office
w here it m aintains its Reserve Account a
sep ara te pass-through account with this Bank in
which to hold all reserve balances of only its
Respondents located in this District (“Pass­
Through Account” ), in each case subject to the
term s of this Bulletin. If the Pass-Through Cor­
respondent is located in another Federal Reserve
District, it m ust establish a Pass-Through Account
on our books.

A Pass-Through Correspondent may use a Pass­
Through Account only for tran sactio n s of
Respondents and can either m aintain balances
for weekly respondents only, for quarterly
respondents only, or for both weekly and q u a rte r­
ly respondents. Since quarterly reporters main­
tain reserves on a weekly basis, a Pass-Through
Correspondent th at is a weekly rep o rter must
m aintain sufficient balances in the account for
each week of the two-week m aintenance period to
satisfy the total balance requirem ents of the
quarterly reporters. If the m aintenance balance
in each week does not satisfy the total balance re­
q u irem en ts for e a c h w eek for q u a rte rly
reporters, a penalty may be imposed on the Pass­
Through Correspondent.

The reserve balances of Respondents will be com­
mingled in either the Pass-Through Correspon­
d ent’s Reserve Account or Pass-Through Account.
The balances in the Reserve Account or Pass­
Through Account shall be deemed to be the pro­
perty of the Pass-Through Correspondent and
shall be subject to its sole order.

Inquiries regarding the provision of services by
this Bank directly to Respondents involving the
use of the Reserve Account or the Pass-Through
Account of its Pass-Through Correspondent
should be addressed to the appropriate operating
a re a of this Bank. A respondent th at m aintains
reserves with a Pass-Through Correspondent and
desires direct access to this Bank’s services may,
with our prior approval, open a clearing account
with us for that purpose.

6.10 Maintenance of reserves
At the end of each m aintenance period, this Bank
will issue to each Eleventh Federal Reserve
District depository institution a detailed sta te ­
ment indicating its reserve requirem ent for the
m aintenance period. At the same time, the Pass­
Through Correspondent will be furnished w ith a
summary of the total reserve requirem ent for its
Respondents located in the Eleventh Federal
Reserve District for the m aintenance period. Any
penalty for deficiency in reserve balances for the
m aintenance period will be imposed by this Bank
on the Pass-Through Correspondent by debit to
the Reserve Account, or Pass-Through Account,
in which the deficiency occurs. The Pass-Through
Correspondent may recoup any such penalty from
a Respondent in accordance with any agreem ent
betw een them.

All wire tran sfe rs of funds or payments for wire
tra n sfers of securities from the Reserve Account
or the Pass-Through Account must be made by the
Pass-Through Correspondent and may not be
made by a Respondent. All wire tran sfers of funds
or securities to a Respondent not maintaining
clearing accounts with this Bank must be for the
account of the Pass-Through Correspondent or
other correspondent m aintaining an account with
this Bank and may designate th at the transaction
is for the benefit of the Respondent in the descrip­
tion portion of the tra n sfe r message.

The Pass-Through Correspondent shall m aintain

6-85

A Respondent may term inate a Pass-Through
Agreement by delivering w ritten notice of ter-

4

BULLETIN 4

FEDERAL RESERVE BANK OF DALLAS

mination to our Financial Planning and Control
Departm ent and its Pass-Through Correspondent.
A Pass-Through Correspondent may term inate its
Agreement by delivering w ritten notice of te r­
mination to our Financial Planning and Control
Departm ent and its Respondent. Unless otherwise
specifically agreed to by this Bank, term ination by
either a Respondent or Pass-Through Correspon­
dent will be effective a t our close of business on
the final day of the m aintenance period th a t ends
fourteen days after the m aintenance period in
which the notice is recieved by this Bank. This
Bank will establish a reserve account on its books
in the name of the former Respondent immediate­
ly upon term ination of the Pass-Through Agree­
ment unless a new Pass-Through Agreement has
been established in accordance with the provi­
sions of Section 6.05.
This Bank may term inate a Pass-Through Agree­
ment by issuing w ritten notice of term ination to
the Respondent and the Pass-Through Correspon­
dent. Such term ination shall be effective when
received by the Respondent or at such late r date
as is specified in the notice.

6-85

5

BULLETIN 4

FEDERAL RESERVE BANK OF DALLAS
SUPPLEMENT A
FOR WEEKLY REPORTERS

1985 SCHEDULE OF COMPUTATION AND RELATED RESERVE MAINTENANCE PERIODS
(For Reserves Held Directly with FRB or with a Pass-Through Correspondent)
Reports of T ransaction Accounts, Other Deposits and Vault Cash, Form FR 2900, (and related reports, if
applicable) should be mailed as soon as possible after the end of the computation period.
Listed below are the periods in which the required reserves must be m aintained and the related periods
used for computing required reserves.

Computation Period
Maintenance Period

01/03/85 - 01/16/85
01/17/85 - 01/30/85
01/31/85 - 02/13/85
02/14/85 - 02/27/85
02/28/85 - 03/13/85
03/14/85 - 03/27/85
03/28/85 - 04/10/85
04/11/85 - 04/24/85
04/25/85 - 05/08/85
05/09/85 - 05/22/85
05/23/85 - 06/05/85
06/06/85 - 06/19/85
06/20/85 - 07/03/85
07/04/85 - 07/17/85
07/18/85 - 07/31/85

Non Transaction Accounts
and Vault Cash

12/04/84
12/11/84
12/18/84
12/25/84
01/01/85
01/08/85
01/15/85
01/22/85
01/29/85
02/05/85
02/12/85
02/19/85
02/26/85
03/05/85
03/12/85
03/19/85
03/26/85
04/02/85
04/09/85
04/16/85
04/23/85
04/30/85
05/07/85
05/14/85
05/21/85
05/28/85
06/04/85
06/11/85
06/18/85
06/25/85

- 12/10/84
- 12/17/84
- 12/24/84
- 12/31/84
- 01/07/85
- 01/14/85
- 01/21/85
- 01/28/85
- 02/04/85
- 02/11/85
- 02/18/85
- 02/25/85
- 03/04/85
- 03/11/85
- 03/18/85
- 03/25/85
- 04/01/85
- 04/08/85
- 04/15/85
- 04/22/85
- 04/29/85
- 05/06/85
- 05/13/85
- 05/20/85
- 05/27/85
- 06/03/85
- 06/10/85
-06/17/85
- 06/24/85
- 07/01/85

A-l

Transaction
Accounts

01/01/85
01/08/85
01/15/85
01/22/85
01/29/85
02/05/85
02/12/85
02/19/85
02/26/85
03/05/85
03/12/85
03/19/85
03/26/85
04/02/85
04/09/85
04/16/85
04/23/85
04/30/85
05/07/85
05/14/85
05/21/85
05/28/85
06/04/85
06/11/85
06/18/85
06/25/85
07/02/85
07/09/85
07/16/85
07/23/85

- 01/07/85
- 01/14/85
- 01/21/85
- 01/28/85
- 02/04/85
- 02/11/85
- 02/18/85
- 02/25/85
- 03/04/85
- 03/11/85
- 03/18/85
- 03/25/85
- 04/01/85
- 04/08/85
- 04/15/85
- 04/22/85
- 04/29/85
- 05/06/85
- 05/13/85
- 05/20/85
- 05/27/85
- 06/03/85
- 06/10/85
- 06/17/85
- 06/24/85
- 07/01/85
- 07/08/85
- 07/15/85
- 07/22/85
- 07/29/85

BULLETIN 4

FEDERAL RESERVE BANK OF DALLAS
SUPPLEMENT A (cont.)

Computation Period
Maintenance Period

08/01/85 - 08/14/85
08/15/85 - 08/28/85
08/29/85 -09/11/85
09/12/85 - 09/25/85
09/26/85 - 10/09/85
10/10/85 - 10/23/85
10/24/85 - 11/06/85
11/07/85 - 11/20/85
11/21/85 - 12/04/85
12/05/85

-

12/18/85

12/19/85

-

01/01/86

Non Transaction Accounts
and Vault Cash

07/02/85
07/09/85
07/16/85
07/23/85
07/30/85
08/06/85
08/13/85
08/20/85
08/27/85
09/03/85
09/10/85
09/17/85
09/24/85
10/01/85
10/08/85
10/15/85
10/22/85
10/29/85
11/05/85
11/12/85
11/19/85
11/26/85

- 07/08/85
- 07/15/85
- 07/22/85
- 07/29/85
- 08/05/85
- 08/12/85
- 08/19/85
- 08/26/85
- 09/02/85
- 09/09/85
- 09/16/85
-09/23/85
- 09/30/85
- 10/07/85
- 10/14/85
- 10/21/85
- 10/28/85
- 11/04/85
- 11/11/85
- 11/18/85
- 11/25/85
- 12/02/85

A-2

Transaction
Accounts

07/30/85
08/06/85
08/13/85
08/20/85
08/27/85
09/03/85
09/10/85
09/17/85
09/24/85
10/01/85
10/08/85
10/15/85
10/22/85
10/29/85
11/05/85
11/12/85
11/19/85
11/26/85
12/03/85
12/10/85
12/17/85
12/24/85

- 08/05/85
- 08/12/85
- 08/19/85
- 08/26/85
- 09/02/85
- 09/09/85
- 09/16/85
- 09/23/85
- 09/30/85
- 10/07/85
- 10/14/85
- 10/21/85
- 10/28/85
- 11/04/85
- 11/11/85
- 11/18/85
- 11/25/85
- 12/02/85
- 12/09/85
- 12/16/85
- 12/23/85
- 12/30/85

BULLETIN 4

FEDERAL RESERVE BANK OF DALLAS

SUPPLEMENT B
FOR QUARTERLY REPORTERS
1985 SCHEDULE OF COMPUTATION AND RELATED RESERVE MAINTENANCE PERIODS
(For Reserves Held Directly with FRB or with a Pass-Through Correspondent)
Reports of T ransaction Accounts, Other Deposits and Vault Cash, Form FR 2900, (and related reports, if
applicable) should be m ailed as soon as possible after the end of the computation period.
Listed below are the periods used for computing required reserves and the related periods in which the
required reserves must be m aintained.

COMPUTATION PERIOD

MAINTENANCE PERIOD
(13 Weeks)

12/18/84 - 12/24/84

01/16/85
01/24/85
01/31/85
02/07/85
02/14/85
02/21/85
02/28/85
03/07/85
03/14/85
03/21/85
03/28/85
04/04/85
04/11/85

01/23/85
01/30/85
02/06/85
02/13/85
02/20/85
02/27/85
03/06/85
03/13/85
03/20/85
03/27/85
04/03/85
04/10/85
04/17/85

03/19/85 - 03/25/85

04/18/85
04/25/85
05/02/85
05/09/85
05/16/85
05/23/85
05/30/85
06/06/85
06/13/85
06/20/85
06/27/85
07/04/85
07/11/85

04/24/85
05/01/85
05/08/85
05/15/85
05/22/85
05/29/85
06/05/85
06/12/85
06/19/85
06/26/85
07/03/85
07/10/85
07/17/85

B-1

FEDERAL RESERVE BANK OF DALLAS

BULLETIN 4

SUPPLEMENT B (cont.)
COMPUTATION PERIOD

MAINTENANCE PERIOD
(13 Weeks)

06/18/85 - 06/24/85

07/18/85
07/25/85
08/01/85
08/08/85
08/15/85
08/22/85
08/29/85
09/05/85
09/12/85
09/19/85
09/26/85
10/03/85
10/10/85

- 07/24/85
- 07/31/85
- 08/07/85
- 08/14/85
- 08/21/85
- 08/28/85
- 09/04/85
-09/11/85
- 09/18/85
- 09/25/85
- 10/02/85
- 10/09/85
- 10/16/85

09/17/85 - 09/23/85

10/17/85
10/24/85
10/31/85
11/07/85
11/14/85
11/21/85
11/28/85
12/05/85
12/12/85
12/19/85
12/26/85
01/02/86
01/09/86

- 10/23/85
- 10/30/85
- 11/06/85
- 11/13/85
- 11/20/85
- 11/27/85
- 12/04/85
- 12/11/85
- 12/18/85
- 12/25/85
- 01/01/86
- 01/08/86
- 01/15/86

12/17/85 - 12/23/85

01/16/86
01/23/86
01/30/86
02/06/86
02/13/86
02/20/86
02/27/86
03/06/86
03/13/86
03/20/86
03/27/86
04/03/86
04/10/86

- 01/22/86
- 01/29/86
- 02/05/86
- 02/12/86
- 02/19/86
- 02/26/86
- 03/05/86
- 03/12/86
- 03/19/86
- 03/26/86
- 04/02/86
- 04/09/86
- 04/16/86

B-2

Exhibit I
PASS-THROUGH AGREEMENT
TO:

FEDERAL RESERVE BANK OF DALLAS (Federal)
[
[

] H ead Office
] El Paso Branch

[ ]
[ ]

Houston Branch
San Antonio Branch

The undersigned Respondent and Correspondent agree as follows:
1. Respondent hereby selects Correspondent to pass through Respondent’s required reserves
to Federal.
2. Respondent shall m aintain its reserves in an account at Correspondent, and Correspondent
shall pass through such reserves to an account at Federal established pursu an t to
[
[
[

] § 204.3(i)(3)(i)(A) or
] § 204.3(i)(3)(i)(B) or
] §204.3(i)(3)(iii)

of Regulation D.
3. Regulation D (12 CFR P a rt 204) and F ederal’s Bulletin 4 as they now exist or are hereafter
amended provide additional term s and conditions as to this agreem ent, and the parties agree
to comply therew ith.
4. This agreem ent may be term inated only in accordance with Bulletin 4.
5. Effective date to be supplied by F e d e ra l:_______________________________________________

(Respondent)

__________________

(Correspondent)

Address

By ---------------------------------------------------------------

___________________________________

Address

By

Title

_______________________________________

Title

Date

_______________________________________

Date

ACCEPTED AND AGREED TO:
FEDERAL RESERVE BANK OF DALLAS

By
Title
Date
(Note: Prepare in triplicate. After execution by both Respondent and Correspondent, forward all copies to Federal for acceptance.
Upon acceptance, Federal will supply an effective date and return one copy each to Respondent and Correspondent.)