Full text of Federal Reserve Bank of New York Circulars : 7157. Treasury Tax and Loan Depositaries

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FED ER A L R ESER VE BANK
O F N E W YORK
Fiscal Agent of the United States

I"Circular No. 7157~1
June 5, 1973
J

I

TREASURY TAX AND LOAN DEPOSITARIES
-Groups A, B, and C Reclassified as of June 26, 1973
— Basis for Future Annual Reclassification

T o A ll Treasury T a x and Loan D epositaries
in the Second Federal R eserve D istrict:

The Treasury Department has authorized and requested this Bank to reclassify the Treasury Tax
and Loan Depositaries in this District into Groups A, B, and C as of June 26, 1973, upon the basis
of the total deposits credited to tax and loan accounts during the period January 1 through December
31, 1972, exclusive of payments for subscriptions to Government securities during the first six months
of 1972, and exclusive of redeposits with Group C banks for the entire period. Accordingly, deposi­
taries that made a total of such deposits in this period in the amounts indicated below will be grouped
as follows:
Group A— Less than $7,500,000.
Group B— (1) $7,500,000 or more, but less than $80,000,000, and
(2) $80,000,000 or more, but whose total deposit liability (de­
mand and time) was less than $100,000,000 as of December 31,
1972.
Group C— $80,000,000 or more, and whose total deposit liability (demand
and time) was $100,000,000 or more as of December 31, 1972.
The new groupings will be continued until further notice, regardless of any subsequent increase
or decrease in tax and loan deposit levels of any depositary. Any depositary whose group classifica­
tion will change on June 26, 1973 will be so notified by letter.
Reclassifications in 1974 and subsequent years will be based on total credits to tax and loan
accounts for the previous calendar year, exclusive of redeposits with Group C banks.




A lfr e d H ayes,

President.