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Federal re s e r v e Ba n k o f Dallas DALLAS, TEXAS 75222 Circular No. 82-62 June 1, 1982 REGULATION Q Temporary Suspension of Early Withdrawal Penalty TO ALL MEMBER BANKS AND OTHERS CONCERNED IN THE ELEVENTH FEDERAL RESERVE DISTRICT: The Board of Governors of the Federal Reserve System has granted a temporary suspension of the Regulation Q penalty for early withdrawal of time deposits from member banks for those depositors affected by the recent severe storms and flooding in Wichita County, Texas. The Board's action permits a member bank, wherever located, to pay a time deposit before maturity without imposing the penalty upon a showing that the depositor suffered property or other financial loss in the disaster area as a result of the storms and flooding. The action has been made retroactive to deposits withdrawn on or after May 25, 1982, and will remain in effect until 12:00 midnight November 25, 1982. A member bank should obtain from a depositor seeking a penalty-free withdrawal a signed statement describing fully the disaster-related loss. The statement should be approved and certified by an officer of the bank. Questions regarding this circular should be directed to Dean A. Pankonien of thisBank's Legal Department, Ext. 6171. Additional copies ofthis circular, the suspension announce ment and the Board's order as it appears in the Federal Register will be furnished upon request to the Department of Communications, Financial and Community Affairs of this Bank, Ext. 6289. Sincerely yours, William H. Wallace First Vice President Banks and others are encouraged to use the following incoming W ATS 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)
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