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FEDERAL RESERVE BANK O F N EW YORK Fiscal A g en t o f the U nited States r C ircu lar N o . 4 9 7 6 1 L D e ce m b er 1 6 , 1 9 6 0 J New Maximum Amounts of Tax and Loan Deposits for Which Special Depositaries of Public Moneys May Qualify To A ll Incorporated Banks and Trust Companies in the Second Federal R eserve D istrict, P u erto R ico, the V irgin Islands, and the Panama Canal Z o n e : The Treasury Department has authorized the Federal Reserve Banks to change the deposit limitation of any Special Depositary of Public Moneys to an amount not in excess of 30 per cent o f total deposits, exclusive of the balance in the Tax and Loan Account, based on its latest call report of condition, or 100 per cent of its capital and surplus, whichever is greater. Heretofore, the deposit limitation was an amount not in excess of 30 per cent of total deposits, exclusive of the balance in the Tax and Loan Account, based on the D epositary’s call report o f condition o f June 30, 1945. If, on the basis o f the new deposit limitation, you should desire to change your existing qualification, or to qualify, as a Special Depositary o f Public Moneys, you should submit an application therefor to this Bank on Form H-5, together with a certified copy of a resolution of your board o f directors in accordance with Form J-5; copies o f both forms may be obtained from our Government Bond and Safekeeping Department. The application should be accompanied by information setting forth, as o f the last call date, the amounts of your deposits, capital, and surplus. Additional copies of this circular will be furnished upon request. A l f r e d H a y e s , President.
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