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FEDERAL R ESER VE BANK OF DALLAS
Station K, Dallas, Texas 7 5 2 2 2

Circular No. 84-88
August 20, 1984

TO:

All nonmember depository institutions addressed in the
Eleventh Federal Reserve District

ATTENTION:

Reserve Account Manager

SUBJECT:

Update on transitional phase-in for
reserve
requirements of nonmember depository institutions

DETAILS:

The Monetary Control Act of 1980 specified a definite
phase-in schedule for reserve requirements of
nonmember depository
institutions.
Specifically,
Section 204.4 (a) of the Act covers the
required
reserves of a depository institution that was engaged
in business on July 1, 1979, but was not a member of
the Federal Reserve System on or after that date.
This circular will serve as reminder that the next
one-year interval of the transitional
adjustment
schedule for nonmember institutions begins with the
reserve maintenance period September 13, 1984, and
continues through September 11, 1985. During this
period, computed reserves will be
reduced by 37.5
percent.
This
is down from the 50 percent
transitional adjustment applied
to the reserve
maintenance periods occurring between September 1,
1983, through September 12, 1984.

MORE INFORMATION:

Robert Feil, Extension
Extension 6132

ADDITIONAL COPIES:

Public Affairs Department, Extension 6289

6690, or

Evelyn

Thomas,

Banks and others are encouraged to use the following in coming W A T S numbers in contactin g 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)