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federal reserve bank of DALLAS, TEXAS Dallas 75222 Circular No. 81-175 August 28, 1981 TO THE CHIEF EXECUTIVE OFFICER OF EV ERY COM ERCIAL BANK, SAVINGS & LO N M A ASSOCIATION, A D ED E ACT O A N G R GREEM T CORPORATION IN THE ELEVENTH EN FEDERAL RESERVE DISTRICT FILING W LY REPORTS OF TRANSACTION ACCOUNTS, EEK OTHER DEPOSITS A D V N AULT CA (FR 2900): SH The Federal Reserve System is concerned about the apparent increase in the use of Retail Repurchase Agreements (RPs) by financial i n s t i t u t i o n s during July and August. At presen t, no separate information on r e t a i l RPs is collected fo r commercial banks or for savings banks. These transac tio ns are embedded in o th e r , more broadly defined, data items. W need accurate and current information e on the amount of RPs outstanding. RPs are those tran sac tions in denominations of l e s s than $100,000 maturing in ninety (90) days or le s s which are secured by U.S. Government or federal agency s e c u r i t i e s . These transactions have a d i r e c t impact on monetary policy. The Federal Reserve's money supply figures must be adjusted to r e f l e c t changes in the amounts of RPs outstanding. The Board of Governors of the Federal Reserve System has decided to conduct a one-time survey of a ll financial i n s t i t u t i o n s , except c r e d i t unions, t h a t f i l e weekly Reports of Transaction Accounts, Other Deposits, and Vault Cash (FR 2900). The survey will be conducted as of the close of business on Monday, August 31, 1981. Financial i n s t i t u t i o n s will be required to rep o rt the to ta l d o lla r amount of RPs outstanding a t t h a t time. Enclosed are two blank reporting forms, Survey of Retail Repurchase Agreements (FR 3017), for your use. One completed form should be returned to us in the enclosed pre-addressed envelope. The second survey form is fo r your f i l e s . I t i s e sse n tia l t h a t the survey be completed quickly. The survey form c a l l s for one lin e of information. Financial i n s t i t u t i o n s th a t do not o f f e r RPs may check the special box on the form and return i t . Complete in stru ctio n s are prin ted on the survey form. W would l ik e to receive your completed survey form by e the close of business on Wednesday, September 2. If you or your s t a f f have any questions regarding the survey, please telephone Ms. Karen Salisbury, Group Supervisor, S t a t i s t i c a l Department, a t area code 214-698-4205. If you find you cannot mail the form so t h a t i t reaches us by September 2, please telephone the information to one of the individuals l i s t e d below. You may use the t o l l - f r e e numbers l i s t e d a t the bottom of t h i s l e t t e r , or telephone c o l l e c t to: Ms. Carolyn S. Bishop - A 214-651-6645, Ms. Tara Kuban - A 214-651-6254, or Ms. Alice Oliver C C A 214-651-6141. C W appreciate your cooperation in providing t h is c r i t i c a l information to us e on short notice. Additional copies of t h i s c i r c u l a r may be obtained by c a llin g our Department of Communications, Financial and Community A ffa irs, Ext. 6289. Sincerely yours, Robert H. Boykin President 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) FR 3017 OMB No. 7100-0152 Approved by the Federal Reserve Board and OMB August 27, 1981 Approval expires October 31, 1981 The Federal Reserve System regards the information provided by each respondent as confidential. If it should be determined subsequently that any information collected on this form must be released, respondents will be notified. This report is required by law [12 U.S.C. para 248(a) and para 461]. SURVEY OF RETAIL REPURCHASE AGREEMENTS ("RPs") As of August 31, 1981 Instructions. For purposes of this report, retail RPs are definedas repurchase agreements in denominations of less than $100,000 with maturities of less than 90 days that arise from the transfer of direct obligations of, or obligations fully guaranteed as to principal and interest by, the U.S. government or an agency thereof. If your institution had no outstanding retail RPs as of the survey date, please check this box, sign the report, and return it to the Federal Reserve Bank of Dallas. Otherwise, please report below outstanding as of the close of i I I ____ | the amount of retail RPs business on the survey date. Amount outstanding of retail RPs (in thousands of dollars) Person to be contacted concerning this report Mils. Thous. (Area code) telephone number and extension Please return this report by Wednesday, September 2, 1981 to the Statistical Department, Federal Reserve Bank of Dallas, Station K, Dallas, Texas 75222 (AC 214/651-6645, 6254, or 6141).