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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).
