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federal R eserve b a n k of Dallas FIS C A L A G E N T OF T H E U N IT E D STATES DALLAS. TEXAS 75222 Circular No. 6ty-k6 February 26 , 1969 To the Chief Executive Officer of the Treasury Tax and Loan Account Depositary Addressed: As you are aware, all depositary banks are presently authorized to maintain Treasury Tax and Loan Accounts by the execution of the applica tion Form H-5, J-5* This form limits the dollar amount that may be on deposit at any one time, and designates specific officers authorized to handle collateral transactions in the account. These limitations have created some problems over the years. The Treasury Department has now given the Federal Reserve Banks more latitude in qualifying banks as depositaries for Treasury Tax and Loan Accounts. To take advantage of the greater flexibility permitted under the regulations, and to reduce the administrative burden on deposi tary banks we are requalifying all depositaries at this time. A new qualification Form FA-1012 is enclosed for this purpose. Please present the new qualification to your Board of Directors for approval at its next meeting and return the completed form to this Bank as soon as possible. You will note that the resolution has no limitation on the dollar amount that may be on deposit in the Treasury Tax and Loan Account at any one time. However, the deposit balance must be fully collateralized at all times. You will also note that the resolution authorizes each officer and employee on the official signature card on file with this Bank to conduct transactions related to the Treasury Tax and Loan Account. The current revision of Treasury Department Circular No. 92 which contains the regulations governing special depositaries of public money and their authorization to maintain Treasury Tax and Loan Accounts is enclosed for your reference. If you have any questions regarding this requalification, please let us know. Yours very truly, P. E. Coldwell President Enclosures (2) This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
@FedFRASER