View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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

D ALLAS, T E X A S

F IR S T VICE P R E S ID E N T

75222

January 14, 1985
Circular 85-3

TO:

The Chief Executive Officer of all depository
institutions in the Eleventh Federal Reserve
District
SUBJECT

Revised slip sheet to Regulation D —
Requirements of Depository Institutions

Reserve

DETAILS
The Board of Governors of the Federal
Reserve
System has issued a slip sheet to Regulation D which
includes its latest amendment.
This slip sheet became
effective January 1, 1985. The new slip sheet should
be filed with Regulation D in the regulation binders
furnished by this Bank.
ATTACHMENTS
The

new

slip

sheet

for

Regulation

D

is

attached.
MORE INFORMATION
For more information, please call Robert Feil
at (214) 651-6690 or Evelyn Thomas at (214) 651-6132.
Sincerely yours,

For a dditional copies of any c ircu lar please conta c t the Public A ffairs D ep artm en t at (214) 6 5 1 -6 2 8 9 . Banks
and others are encouraged to use the follow ing incom ing W A TS numbers in contacting this Bank (800)
4 4 2 -7 1 4 0 (intrastate) and (800) 5 2 7 -9 2 0 0 (interstate).

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

Board o f Governors of the Federal Reserve System

Amendments to Regulation D
Reserve Requirements of Depository Institutions
November 1984*

not less than three months even
though some of the deposits may be
made within seven days from the
end of the period; or
(E)
that constitute a “savings de­
posit” which is not regarded as a
“transaction account;” and
(ii) borrowings, regardless of maturi­
ty, represented by a promissory note,
an acknowledgment of advance, or
similar obligation described in section
204.2(a) (1) (vii) that is issued to, or
any bankers acceptance (other than
the type described in 12 USC 372) of
the depository institution held by, any
office located outside the United
States of another depository institu­
tion or Edge or agreement corporation
organized under the laws of the Unit­
ed States, to any office located outside
the United States of a foreign bank, or
to institutions whose time deposits are
exempt from interest rate limitations
under section 217.3(g) of Regulation
Q (12 CFR 217.3(g)(e)).

1. Effective October 1, 1983, subparagraphs
(b)(1) and (d)(1) o f section 204.2 are
amended by substituting "seven” fo r “14"
wherever it appears.

2. Effective October 1. 1983, subparagraphs
(b)(2), (c)(1), and (f)(l)(v) are amended to
read as follows:
(b )(1 ) * * *
(2) A “demand deposit” does not in­
clude checks or drafts drawn by the
depository institution on the Federal
Reserve or on another depository
institution.
(c) (1) “Time deposit" means (i) a depos­
it that the depositor does not have a
right to withdraw for a period of seven
days or more after the date of deposit.
“Time deposit” includes funds—
(A ) payable on a specified date not
less than seven days after the date
of deposit;
(B) payable at the expiration of a
specified time not less than seven
days after the date of deposit;
(C) payable upon written notice
which actually is required to be giv­
en by the depositor not less than
seven days before the date of
repayment;
(D ) such as “Christmas club” ac­
counts and “vacation club” ac­
counts, that are deposited under
written contracts providing that no
withdrawal shall be made until a
certain number of periodic deposits
have been made during a period of
• A complete Regulation D. as amended effective Janu­
ary 1, I98S. consists of—
• the pamphlet dated September 1983 (see inside cov­
e r) and
• this slip sheet.
Items I and 2 were included in the January 1984 slip sheet.
Item 3 is new.

*

*

*

*

*

(0 ( 1) * * *
(v) a time deposit represented by a
promissory note, an acknowledgment
of advance, or similar obligation de­
scribed in section 204.2(a)(l)(vii)
that is issued to, or any bankers ac­
ceptances (other than the type de­
scribed in 12 USC 372) of the deposi­
tory institution held by, any office lo­
cated outside the United States of an­
other depository institution or Edge
or agreement corporation organized
under the laws of the United States, to
any office located outside the United
States of a foreign bank, or to institu­
tions whose time deposits are exempt
from interest rate limitations under

Regulation 0

section 217.3(g) of Regulation Q (12
CFR 217.3(g)).
*

*

*

*

3. Effective January 1. 1985, section 204.9(a)
is amended to read as follows:
(a)(1 ) Reserve percentages. The following
reserve ratios are prescribed for all de­
pository institutions, Edge and agree­
ment corporations and United States
branches and agencies of foreign banks:
Category

Reserve requirement

N E T TRANSACTION
ACCOUNTS
$0-529.8 million
Over $29.8 million

1% of amount
$894,000 plus 12%
of amount over
$29.8 million

N O NPER SO N A L
T IM E DEPOSITS
By original maturity
(o r notice period):
less than 1^ years

3%

1J years or more

0%

EU ROCU RREN CY
LIABILITIES

3%

(2) Exemption from reserve require­
ments. Each depository institution. Edge
or agreement corporation, and U.S.
branch or agency of a foreign bank is
subject to a zero percent reserve require­
ment on an amount of its transaction ac­
counts subject to the low reserve tranche
in paragraph (a )(1 ), nonpersonal time
deposits, or Eurocurrency liabilities or
any combination thereof not in excess of
$2.4 million determined in accordance
with section 204.3(a)(3) of this part.

2