Full text of Federal Reserve Bank of New York Circulars : Regulation D - Reserve Requirements of Depository Institutions

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

-

FEDERAL RESERVE BANK
OF NEW YORK

c

>

ATZ9/Z&

September 4, 1980

REGULATION D -R E S E R V E REQUIREMENTS
OF DEPOSITORY INSTITUTIONS
E ffective November 13, 1980

To the Chief Executive Officer of the Institution Addressed:

As you may already be aware, with the passage of the Monetary Control Act of 1980 (Public
Law 96-221) all depository institutions offering transaction accounts or nonpersonal time deposits
will become subject to the Federal Reserve’s Regulation D, on reserve requirements. The highlights
of the new reserve requirem ent structure are contained in the enclosed press releases. A copy of
Regulation D is also enclosed.
Reporting under the new structure will begin for deposits as of October 30, 1980, and reserve
maintenance under the new structure will begin on November 13, 1980. Detailed information on
both reporting and reserve maintenance will be provided to your institution within the next several
weeks.
Questions regarding these m atters may be directed to one of the following officers of this Bank:
R ich ard J. Gelson, A ssista n t Vice P re sid e n t (Tel. No. 212-791-7904), for questions on reserv e
re p o rtin g pro ced u res.
T hom as J . C am pbell, A cco u n tin g O fficer (Tel
re q u ire m e n ts and reserv e account m ain ten an ce.

No. 212-791-7769), for questions on reserv e

B rad ley K. Sabel, A ssista n t Counsel and A ssistan t S e c re ta ry (Tel. No. 212-791-5033), for questions
on reserv e re q u ire m e n ts — in te rp re ta tiv e and technical issues.

A nthony

(Ref. AT-8912A)




M. S o l o m o n ,
President.