Full text of Federal Reserve Bank of New York Circulars : 1011. Special Deposits of Public Moneys under the Act of Congress Approved September 24, 1917, as Amended.

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FEDERAL RESERVE BANK
OF NEW YORK

L

Circular No. 1011, November 28, 1930-1
Reference to Treasury Department
Circular No. 92 Revised
J

Special Deposits of Public Moneys under the Act of Congress
Approved September 24, 1917, as Amended.

To designated special depositaries of public moneys and all other banks
and trust companies in the Second Federal Reserve District:

Enclosed will be found a copy of the 1930 Second Supplement to Treasury
Department Circular No. 92 Revised, from which you will note that the rate of
interest to be paid by special depositaries upon "War Loan Deposit accounts has
been reduced from 2 per cent per annum to l1/^ per cent per annum, effective
December 1, 1930.
Special depositaries should accordingly compute interest on War Loan
Deposit accounts at the rate of 2 per cent per annum to and including November 30, 1930, and at the rate of \xh per cent per annum beginning December 1,
1930, until further advised to the contrary.
This information will also be of interest in connection with the new Treasury
offering which may be expected shortly.




GEOBGE L. HABEISON,

Governor.

SPECIAL DEPOSITS OF PUBLIC MONEYS UNDER THE ACT OF CONGRESS APPROVED SEPTEMBER 24,1917,
AS AMENDED

1930
Second Supplement to
DepartmemCircular No. 92

Division of Deposits.

TREASURY DEPARTMENT,
O F p | c E Q p ^
SECRETARY

Washington, November 26, 1930.

To Federal Reserve Banks and other banks and trust companies incorporated under the laws of
the United States or of any State:
Effective as of December 1, 1930, Treasury Department Circular No. 92, dated October 1,
1928, is hereby amended by changing the paragraph under the caption "Interest on Deposits,"
to read as follows:
'' Until further notice, each depositary will be required to pay interest at the rate
of V/o P e r c e n t per annum on daily balances."
Accordingly, on and after December 1, 1930, the rate of interest to be paid on daily balances in the " W a r Loan Deposit Accounts" by special depositaries will be 1% per cent per
annum, instead of 2 per cent per annum as heretofore.




A. W. MELLON,
Secretary of the Treasury.