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MONETARY
OL
HEARINGS
BEFORE THE
COMMITTEE ON
BANKING, FINANCE AND URBAN AFFAIRS
HOUSE OF REPRESENTATIVES
NINETY-SIXTH CONGRESS
FIRST SESSION
ON
H.R. 7
A BILL TO FACILITATE THE IMPLEMENTATION OF MONETARY POLICY AND TO PROMOTE COMPETI'l'IVE EQUALITY
AMONG DEPOSITORY INSTITUTIONS
JANUARY 22, 24; FEBRUARY 13, 15, 28; MARCH 2 AND 5, 1979
Serial 96-6
!Printed for the u~e of the
Committee on Banking, Finance and Urban Affairs
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Federal Reserve Bank of St. Louis
HASTINGS COLLEGE
rJF THE LAW LIBRARY
U
\.it_jrj
C
2 '/ 1979
DEPOSITORY
198 McAllister St., S.F.
MONETARY CONTROL
HEARINGS
BEFORE THE
COMMITTEE ON
BANKING, FINANCE A.ND URBA.N A.FFA.IRS
HOUSE OF REPRESENTATIVES
NINETY-SIXTH CONGRESS
FIRST SESSION
ON
H.R. 7
A BILL TO FACILITATE THE IMPLEMENTATION OF MONETARY POLICY AND TO PROMOTE COMPETITIVE EQUALITY
AMONG DEPOSITORY INSTITUTIONS
JANUARY 22, 24; FEBRUARY 13, 15, 28; MARCH 2 AND 5, 1979
Serial 96-6
!Printed for the use of the
Committee on Banking, Finance and Urban Affairs
U.S. GOVERNMENT PRINTING OFFICE
40--911i 0
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Federal Reserve Bank of St. Louis
WASHINGTON : 1979
HOUSE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS
HENRY S. REUSS, Wisconsin, Chairman
THOMAS L. ASHLEY, Ohio
J. WILLIAM STANTON, Ohio
WILLIAM S. MOORHEAD, Pennsylvania
CHALMERS P. WYLIE, Ohio
FERNAND J. ST GERMAIN, Rhode Island
STEWART B. McKINNEY, Connecticut
GEORGE HANSEN, Idaho
HENRY B. GONZALEZ, Texas
HENRY J. HYDE, Illinois
JOSEPH G. MINISH, New Jersey
RICHARD KELLY, Florida
FRANK ANNUNZIO, Illinois
JIM LEACH, Iowa
JAMES M. HANLEY, New York
PARREN J. MITCHELL, Maryland
THOMAS B. EVANS, JR., Delaware
S. WILLIAM GREEN, New York
WALTER E. FAUNTROY,
RON PAUL, Texas
District of Columbia
ED BETHUNE, Arkansas
STEPHEN L. NEAL, North Carolina
NORMAND. SHUMWAY, California
JERRY M. PATTERSON, California
CARROLL A. CAMPBELL, JR.,
JAMES J. BLANCHARD, Michigan
South Carolina
CARROLL HUBBARD, JR., Kentucky
JOHN J. LAFALCE, New York
DON RITTER, Pennsylvania
JON HINSON, Mississippi
GLADYS NOON SPELLMAN, Maryland
LES AuCOIN, Oregon
DAVID W. EVANS, Indiana
NORMAN E. D'AMOURS, New Hampshire
STANLEY N. LUNDINE, New York
JOHN J. CAVANAUGH, Nebraska
MARY ROSE OAKAR, Ohio
JIM MATTOX, Texas
BRUCE F. VENTO, Minnesota
DOUG BARNARD, Georgia
WES WATKINS, Oklahoma
ROBERT GARCIA, New York
MICHAEL LOWRY, Washington
PAUL NEUION, Clerk and Staff Director
MICHAEL P. FLAHERTY, General Counsel
MERCER L. JACKSON, Minority Staff Director
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Federal Reserve Bank of St. Louis
(II)
CONTENTS
Hearings held onJanuary 22, 1979 ......................................................................................................
January 24, 1979 ......................................................................................................
February 13, 1979 ....................................................................................................
February 15, 1979 ....................................................................................................
February 28, 1979 ....................................................................................................
March 2, 1979 ...........................................................................................................
March 5, 1979 ...........................................................................................................
Text of H.R. 7 ...................................................................................................................
Page
1
63
367
431
483
653
729
2
STATEMENTS
Akaka, .~on. Daniel K., a Representative in Congress from the State of
Hawau ········--··············································································································
Campbell, Raymond D., first vice president/president elect, Independent Bankers Association of America, accompanied by Richard W. Peterson, chief
legislative counsel of the IBAA ................................................................................
Carswell, Hon. Robert, Deputy Secretary, Department of the Treasury..............
Ching, Dennis Y. M., president, Hawaii Bankers Association, and chairman of
the board and chief executive officer, American Security Bank, accompanied
by Wilson P. Cannon, Jr., chairman and chief executive officer, Bank of
Hawaii; Hugh R. Pingree, executive vice president, First Hawaiian Bank; and
Dr. Thomas K. Hitch, senior vice president and economist, First Hawaiian
Bank...............................................................................................................................
Delay, Jay J., president, Huron Valley National Bank, Ann Arbor, Mich..........
Dunn, E. D. 'Jack", commissioner of banking and finance for the State of
Georgia, president of the Conference of State Bank Supervisors accompanied
by Dr. Lawrence E. Kreider, executive vice president-economist of the
conference......................................................................................................................
Greenbaum, Dr. Stuart I., Harold L. Stuart professor of banking and finance,
and director, Banking Research Center, Graduate School of Management,
Northwestern University, Evanston, l11..................................................................
Heftel, Hon Cecil, a Representative in Congress from the State of Hawaii.........
Hollihan, Roy, president, National Association of Federal Credit Unions
(NAFCU), accompanied by Richard M. M. McConnell, executive vice president of NAFCU ................................................................................•.... ~...................
McKay, Hon. Gunn, a Representative in Congress from the State of Utah ........
Malarkey, John E., State bank commissioner, Dover, Del····························-········
Miller, Hon. G. William, Chairman, Board of Governors, Federal Reserve
System...........................................................................................................................
Perkins, John, president, American Bankers Association (ABA), accompanied
by William H. Kennedy, chairman, Government Relations Council; and
Robert W. Renner, chairman, Community Bankers Division ............... '..............
Schechter, Henry B., director, department of urban affairs, American Federation of Labor-Congress of Industrial Organizations (AFL-CIO) ....................
Shea, Jeremiah P., president, Bank of Delaware, Wilmington, Del .......... :...........
Whitesell, Dr. William E., professor of economics, Franklin and Marshall
College, Lancaster, Pa................................................................................................
Wright, David S., chairman of the board, Credit Union National Association,
accompanied by Jim R. Williams.............................................................................
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Federal Reserve Bank of St. Louis
(III)
444
556
21
431
477
367
780
439
653
483
751
63
492
465
743
759
655
IV
ADDITIONAL INFORMATION SUBMITIED FOR INCLUSION IN THE RECORD
Akaka, Hon. Daniel K., prepared statement ............................................................ .
American Bankers Association:
Analysis of total Treasury revenue effects of Federal membership
proposals ............................................................................................................... .
Letter from Charles F. Haywood, dated March 1, 1979, setting forth the
ABA's calculations comparing the costs to the Treasury of ABA's proposed EPA scheme and the H.R. 7 exemptions ............................................. .
Letter from Charles F. Haywood, dated March 30, 1979, re Federal Reserve
Board comment on memorandum ................................................................... .
Memorandum entitled "The Fed's Error About Non-Member Banks and
Monetary Policy" by Charles F. Haywood, dated February 26, 1979 ....... .
Response to questions of:
Hon. Thomas L. Ashley ................................................................................. .
Hon. Bruce F. Vento ...................................................................................... .
Board of Governors of the Federal Reserve System:
Letter dated March 19, 1979, responding to the American Bankers Association memorandum "The Fed's Error About Non-Member Banks and
Monetary Policy" ................................................................................................ .
Letter dated April 4, 1979, from Messrs. Kopecky, Parke, and Porter
responding to ABA letter of March 30, 1979 ................................................. .
Campbell, Raymond D.:
Prepared statement on behalf of the Independent Bankers Association of
America, with an attached appendix entitled "Does the Federal Reserve
Invest Member Bank Reserves?'' ................................................................ ,.... .
Response to question of Hon. Thomas L. Ashley .............................................. .
Carswell, Hon. Robert:
"Estimated Revenue Effects of H.R. 7, Fiscf4 Years 1980-84," table ........... .
Response to questions of:
Hon. Les AuCoin .............................................................................................. .
Hon. Mary Rose Oakar ................................................................................... .
Hon. Don Ritter ............................................................................... :............... .
Ching, Dennis Y. M., tables accompanying statement ............................................ .
Corrada, Hon. Baltasar, Resident Commissioner of Puerto Rico, statement ...... .
Dunn, E. D. "Jack":
"Optional Fed Membership, Equitable Treatment and the Bank Regulatory
Structure," recent analysis summary submitted .......................................... .
Prepared statement on behalf of the Conference of State Bank Supervisors .
Proposed language of conference re reporting and reserve requirements ...
Response to questions of:
Chairman Henry S. Reuss ............................................................................. .
Hon. Carroll A. Campbell, Jr ....................................................................... .
Hon. Henry B. Gonzalez ................................................................................ .
Hon. Norman D. Shumway ........................................................................... .
Hon. Bruce F. Vento ...................................................................................... .
Edwards, Franklin R., statement ................................................................................. .
Greenbaum, Dr. Stuart I., prepared statement ......................................................... .
Haywood, Charles F., economic and financial research division, American
Bankers Association, letter dated March 1, 1979, setting forth the ABA's
calculations comparing the costs to the Treasury of ABA's proposed EPA
scheme and the H.R. 7 exemptions with attached comment from the staff of
the House Banking Committee ................................................................................ .
Heftel, Hon. Cecil, prepared statement ..................................................................... .
McKay, Hon. Gunn, prepared statement ................................................................... .
McKinney, Chairman Robert H., letter dated January 23, 1979, commenting on
the Federal Home Loan Bank Board's position on H.R. 7 ................................. .
Malarkey, John E., prepared statement .................................................................... .
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Federal Reserve Bank of St. Louis
Page
445
649
647
626
610
651
628
618
651
563
651
24
40
41
56
434
672
386
372
393
400
426
406
408
423
782
735
647
440
485
57
754
V
Miller, Hon. G. William:
Letter to Chairman Henry S. Reuss dated March 16, 1979 enclosing a table
showing the number of national banks that converted to State nonmember banks from 1950 through 1978...........................................................
Prepared statement with attachments on behalf of the Board of Governors
of the Federal Reserve System ..........................................................................
Response to questions of:
Hon. Carroll A. Campbell, Jr ........................................................................
Hon. Norman E. D'Amours............................................................................
Hon. Bill Green .. ... .. ..... .. ..... ......... ... .. .. ... ..... .. ......... ... .. .. ... ... ... .. ... ... ... ... .. ... .. .....
Hon. J. William Stanton.................................................................................
Hon. Chalmers P. Wylie.................................................................................
Mitchell, Hon. Parren J., press release dated January 22, 1979, re loss that
American taxpayers have sustained as a result of the Federal Reserve's
intervention in the foreign exchange markets ......................................................
National Association of Mutual Savings Banks, statement on behalf by Albert
B. Hooke, chairman of the committee on liaison with Federal agencies .........
National Association of State Savings and Loan Supervisors, statement on
behalf by Kenneth E. Pickering, vice president.....................................................
National. Sa~ngs an~ Loan League, statement on behalf by Jonathan Lindley,
executive vice president ........ :....................................................................................
Perkins, John:
Prepared statement on behalf of the American Bankers Association ..........
Attachments:
"An Interim Summary Report to the ABA Leadership Conference
by ABT Associates" ..............................................................................
Letter dated February 5, 1979, to Chairman G. William Miller of
the Federal Reserve Board with an attached report of the ABA
pricing task force ... ... ..... .. ........... ....... ..... .. ... .. ... .. ... ... .. ... ... ... .. ..... .. ... .. ...
Renner, Robert, letter to participants in the community bank meeting on the
Federal Reserve issue, dated February 2, 1979 ......................................................
Reuss, Chairman Henry S.:
American Bankers Association, (ABA) statement from "Perspective" dated
February 6, 1979, saying: "There should be a uniform, universal reserve
requirement on all banks and other depository institutions, members or
not".........................................................................................................................
Opening statement from July 27, 1978, hearing on "Monetary Control and
the Membership Problem," portion submitted ..............................................
Press release of Independent Bankers Association of America, dated September 1, 1978 ......................................................................................................
Shea, Jeremiah P., prepared statement on behalf of the Delaware Bankers
Association .... .. ... ..... ... .. ..... ..... .. ..... ..... ... .. ... .. .. ......... .. ... .. ... .. ..... ... .. ... .............................
Stanton, Hon. J. William, letter from the Conference of State Bank Supervisors
dated February 26, 1979, endorsing H.R. 2133 .......................................................
United States League of Savings Associations, statement.......................................
Vento, Hon. Bruce F., article from the Journal of Finance of March 1978
entitled "Nonmember Banks and Empirical Measures of the Variability of
Reserves and Money: A Theoretical Appraisal" ....................................................
Whitesell, Dr. William E., prepared statement .........................................................
Wright, David S., prepared statement on behalf of the Credit Union National
Association, Inc. (CUNA)...........................................................................................
Page
309
70
338
364
334
315
362
34
716
713
703
500
538
548
644
641
397
585
746
590
689
602
762
659
APPENDIX.-LETIERS SuBMI'ITED FOR INCLUSION IN THE RECORD
Governor John V. Evans of Idaho................................................................................
Governor William J. Janklow of South Dakota ........................................................
Chairman Reuss to Federal regulatory agencies ............. ..................... ....................
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Federal Reserve Bank of St. Louis
799
805
807
MONETARY CONTROL
MONDAY, JANUARY 22, 1979
HOUSE OF REPRESENTATIVES,
CoMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS,
Washington, D.C.
The committee met, pursuant to notice, at 9:30 a.m., in room
2128, Rayburn House Office Building, Hon. Henry S. Reuss (chairman) presiding.
Present: Representatives Reuss, St Germain, Annunzio, Mitchell,
Neal, LaFalce, Spellman, AuCoin, Evans of Indiana, Cavanaugh,
Oakar, Vento, Barnard, Watkins, Lowry, Wylie, Leach, Bethune,
Campbell, Ritter, and Hinson.
Chairman REUSS. Good mol1ling.
The House Committee on Banking, Finance and Urban Affairs
will be in order for hearings on H.R. 7, the Monetary Control Act
of 1979.
The bill is designed primarily to help the Federal Reserve gain
better control over the money supply, an essential element in the
current battle against inflation.
[The text of H.R. 7 follows:]
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Federal Reserve Bank of St. Louis
(1)
2
96TH
CONGRESS
1ST SESSION
H R. 7
•
To facilitate the implementation of monetary policy and to promote competitive
equality among depository institutions.
IN THE HOUSE OF REPRESENTATIVES
Mr.
REUSS
JANUARY 15, 1979
introduced the following bill which was referred to the Committee on
Banking, Finance, and Urban Affairs
A BILL
To facilitate the implementation of monetary policy and to
promote competitive equality among depository institutions.
1
Be it enacted by the Senate and House of Representa-
2 tives of the United States of .America in Congress assembkd,
3 _That this Act may be cited as the "Monetary Control Act of
4 1979".
5
6
REPORTING REQUIREMENTS
SEC. 2. Section 11(a) of the Federal Reserve Act (12
7 U.S.C. 248(a)) is amended (1) by inserting "(1)" immediately
8 after "(a)", and (2) by adding at the end thereof the following
9 new paragraph:
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Federal Reserve Bank of St. Louis
3
2
1
"(2) To require any depository institution specified in
2 this paragraph to make, at such intervals as the Board may
3 prescribe, such reports of its liabilities and assets as the
4 Board may determine to be necessary to enable the Board to
5 discharge its responsibility to monitor and control monetary
6 and credit aggregates. Such reports shall be made (A) di7 rectly to the Board in the case of member banks and in the
8 case of other depository institutions for all liabilities specified
9 in sections 19(b)(l)(A) through 19(b)(l)(D) of this Act, and
10 (B) to the Board through the (i) Federal Deposit Insurance
11 Corporation in the case of insured State nonmember banks,
12 (ii) National Credit Union Administration in the case of in13 sured credit unions, (iii) Federal Home Loan Bank Board in
14 the case of any institution insured by the Federal Savings
15 and Loan Insurance Corporation or which is a member as
16 defined in section 2 of the Federal Home Loan Bank Act,
17 and (iv) such State officer or agency as the Board may desig18 nate in the case of any other type of bank, savings and loan
19 association, or credit union. The Board shall endeavor to
20 avoid unnecessary burdens on reporting institutions and the
21 duplication of other reporting requirements, and any data
22 therefrom shall be made readily available to the Board. The
23 Board may classify depository institutions for the purposes of
24 this paragraph, and may impose different requirements on
25 each such class."
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Federal Reserve Bank of St. Louis
4
3
1
2
RESERVE REQUIREMENTS
SEC. 3. (a) Section 19(b) of the Federal Reserve Act is
3 amended to read as follows:
4
"(b) RESERVE REQUIBEMENTS.-
5
"(1) DEFINITIONS
AND
RULES.-The following
6
definitions and rules are applicable for the purposes of
7
this subsection:
8
"(A) The term 'category A deposits' means,
9
with respect to any depository institution, the
10
total amount of demand deposits, savings deposits
11
subject to automatic transfers, and deposits sub-
12
ject to negotiable or other payment order of with-
13
drawal, or to any similar instrument used to make
14
payments or transfers, in that institution.
15
"(B) The term 'category B deposits' means,
16
with respect to any bank, the total amount of
17
time deposits with initial maturities of less than
18
one hundred and eighty days in that bank.
19
"(C) The term 'category C deposits' means,
20
with respect to any bank, the total amount of sav-
21
ings deposits (other than those referred to in sub-
22
paragraph (A)) in that bank.
23
"(D) The term 'category D deposits' means,
24
with respect to any bank, the total amount of
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Federal Reserve Bank of St. Louis
5
4
1
time deposits with initial maturities of not less
2
than one hundred eighty days in that bank.
3
"(E) A reference to net deposits of any given
4
category in any given institution _refers to the
5
amount by which the institution's total deposits of
6
that category exceed its exemption for that
7
category.
8
"(F) Except as provided in paragraphs (9)
9
and (10), no reserve ratio outside the limits speci-
10
fied for any given category may be imposed with
11
respect to any deposits in that category.
12
"(G) The term 'bank' means any institution
13
which is neither a nonmember savings bank nor a
14
nonmember mutual savings bank as defined in
15
sections 3(0 and 3(g) of the Federal Deposit In-
16
surance Act, and is either an insured bank as de-
17
fined in section 3(h) of the Federal Deposit Insur-
18
ance Act or a bank which is eligible under section
19
5 of that Act to make application to become an
20
insured bank.
21
"(H) The term 'savings institution' means-
22
"(i) a nonmember savings bank or a
23
nonmember mutual savings bank which
24
either is an insured bank as defined in sec-
25
tion 3(h) of the Federal Deposit Insurance
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Federal Reserve Bank of St. Louis
6
5
1
Act or is eligible under section 5 of that Act
2
to make application to become an insured
3
bank;
4
"(ii) an institution which either is an in-
5
sured institution as defined in section 401(a)
6
of the National Housing Act or is eligible
7
under section 403 of that Act to make appli-
8
cation to become an insured institution; or
9
"(iii) a credit union whose member ac-
10
counts are insured pursuant to section 201(a)
11
of the Federal Credit Union Act, or which is
12
eligible to make application for such insur-
13
ance pur.suant to section 201(b) of that Act.
14
"(D The term 'depository institution' means
15
a bank as defined in subparagraph (G) or a sav-
16
ings institution as defined in subparagraph (H).
17
"(J) This subsection does not affect the au-
18
thority of the Board to impose conditions and re-
19
quirements on member banks under section 25 of
20
this Act (12 U.S.C. §§ 601-604(a)).
21
"(K) This subsection confers authority on the
22
Board to impose or change reserve requirements
23
for the sole purpose of enabling the Board to im-
24
plement monetary policy.
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Federal Reserve Bank of St. Louis
7
6
1
"(L) Any reference in this Act to member
2
banks with respect to any requirement or au-
3
thority relating to reserves required by this sub-
4
section shall be deemed to apply to all depository
5
institutions which are actually required to main-
6
tain reserves under this subsection.
7
"(2) AMOUNT OF CATEGORY A EXEMPTIONS.-
8
During the period beginning on the effective date of
9
section 3 of the Monetary Control Act of 1979 and
10
ending at the close of the first calendar year which
11
begins after that date, the category A exemption shall
12
be $50,000,000. For each calendar year thereafter, the
13
category A exemption shall be fixed by the Board prior
14
to the beginning of that year at an amount determined
15
by the Board to be such that if a category A exemp-
16
tion in that amount had been in effect during the previ-
17
ous year, the ratio of the total of category A deposits
18
in all depository institutions with net category A de-
19
posits greater than zero to the total of all category A
20
deposits would have been the same as it would have
21
been on December 31, 1977, if this paragraph had
22
then been in effect and the category A exemption had
23
been $50,000,000.
24
25
"(3)
CATEGORY B, .C, AND D EXEMPTIONS.-
During the period beginning on the effective date of
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Federal Reserve Bank of St. Louis
8
7
1
section 2 of the Monetary Control Act of 1979 and
2
ending at the close of the first calendar year which
3
begins after that date, the total amount of the category
4
B, 0, and D exemptions for any bank shall be
5
$50,000,000. For each calendar year thereafter, such
6
amount shall be fixed by the Board prior to the begin-
7
ning of that year at an amount determined by the
8
Board to be such that if total category B, 0, and D
9
exemptions per bank in that amount had been in effect
10
at the beginning of the previous year, the ratio of the
11
total category B, 0, and D deposits in all banks with
12
net category B, 0, and D deposits greater than zero to
13
the total of all category B, 0, and D deposits would
14
have been the same as it would have been on Decem-
15
ber 31, 1977, if this paragraph had been in effect and
16
the category B, 0, and D exemptions for any given
17
bank had totalled $50,000,000. For any given bank at
18
any given time, the category B, 0, and D exemptions
19
shall be apportioned among the three categories in the
20
same proportions that the bank's deposits in the re-
21
spective categories bear to the total of its deposits in
22
the three categories.
23
"(4)
ADMINISTRATIVE EXEMPTION.-(A)
The ad-
24
ministrative agency designated in subparagraph (B)
25
shall, on or before the effective date of this paragraph
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Federal Reserve Bank of St. Louis
9
8
1
and on or before the first day of each calendar year
2
thereafter, exempt from the requirements otherwise im-
3
posed by paragraphs (5) through (8) any depository in-
4
stitution which such agency determines would, even if
5
not exempted pursuant to this paragraph, probably not
6
have net category A deposits, net category B deposits,
7
net category C !leposits, or net category D deposits
8
greater than zero between the last date on which such
9
exemption is authorized to be made and the com-
10
mencement of the succeeding calendar year. During
11
any period for which it has been so exempted, no de-
12
pository institution shall be required to maintain any
13
reserves under para.graph (5), (6), (7), or (8).
14
"(B) AGENCY AUTHOBITY.-Exemptions pursu-
15
ant to subparagraph (A) shall be made by the Federal
16
Deposit Insurance Corporation in the ca_se of insured
17
nonmember banks, by the Federal Savings and Loan
18
Insurance Corporation in the case of any institution in-
19
sured by that corporation, by the National Credit
20
Union Administration in the case of any credit union
21
whose member accounts are insured pursuant to sec-
22
tion 210(a) of the Federal Credit Union Act, and by
23
the Board in the case of all other depository
24
institutions.
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Federal Reserve Bank of St. Louis
10
9
1
"(5)
CATEGORY A RESERVE REQUIREMENTS.-
2
Every depository institution not exempted pursuant to
3
paragraph (4) shall maintain reserves against its net
4
category A deposits as the Board may direct-
5
"(A) in the ratio of 9.5 per centum, or
6
"(B) in such ratio not greater than 10 per
7
centum or less than 8 per centum as the Board
8
may prescribe, or
9
"(0) in such ratio as the Board may pre-
10
scn"be pursuant to paragraph (10).
11
"(6) CATEGORY B RESERVE REQUIREMENTS.-
12
Every bank not exempted pursuant to paragraph (4)
13
shall maintain reserves against its net category B de-
14
posits as the Board may direct-
15
"(A) in the ratio of 8 per centum, or
16
"(B) in such ratio not greater than 8 per
17
centum and not less than 3 per centum as the
18
Board may prescn"be, or
19
"(O) in such ratio as the Board may pre-
20
scribe pursuant to paragraph (10).
21
"(7)
CATEGORY O RESERVE REQUIREMENTS.-
22
Every bank not exempted pursuant to paragraph (4)
23
shall maintain reserves against its net category C de-
24
posits as the Board may direct-
25
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Federal Reserve Bank of St. Louis
"(A) in the ratio of 3 per centum, or
11
10
1
"(B) in such ratio not greater than 3 per
2
centum and not less than 1 per centum as the
3
Board may prescribe, or
"(C) in such ratio as the Board may pre-
4
5
scribe pursuant to paragraph (10).
6
"(8)
CATEGORY D RESERVE REQUIREMENTS.-
7
Every bank not exempted pursuant to . paragraph (4)
8
shall maintain reserves against its net category D de-
9
posits as the Board may direct-
10
"(A) in the ratio of 1 per centum, or
11
"(B) in such ratio not greater than 3 per
12
centum and not less than 1 per centum as the
13
Board may prescribe, or
"(C) in such ratio as the Board may pre-
14
15
scribe pursuant to paragraph (10).
16
"(9) RESERVES RELATED TO FOREIGN OBLIGA•
17
TIONS OR ASSETS.-Foreign branches and subsidiaries
18
of nonmember banks shall maintain reserves to the
19
same extent required by the Board of foreign branches
20
and subsidiaries of member banks. In addition to any
21
reserves otherwise required to be maintained pursuant
22
to this subsection, any bank shall maintain reserves in
23
such ratios as the Board may prescn"be against-
24
"(A) net balances owed by domestic offices
25
of such bank in the United States to its directly
40-915 0 - 79 •
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Federal Reserve Bank of St. Louis
2
12
11
1
related foreign offices and to nonrelated foreign
2
banks,
3
"(B) loans to United States residents made
4
by overseas offices of such bank if such bank has
5
one or more offices in the United States, and
6
"(C) assets (including participations) held by
7
foreign offices of a bank in the United States
8
which were acquired from its domestic offices
9
(other than assets representing credit extended to
10
persons not resident of the United States).
11
"(10)
AUTHORITY IN EXTRAORDINARY
omoIDrl-
12
STAN0ES.-Upon a finding by at least five members of
13
the Board, after consultation with appropriate Commit-
14
tees of Congress, that extraordinary circumstances re-
15
quire such action, the Board may impose reserve re-
16
quirements outside the limits otherwise prescribed by-
17
this subsection for a period not exceeding thirty days
18
but which may be extended for further periods not ex-
19
ceeding thirty days each by such affirmative action by
20
the Board in each instance. The Board shall promptly
21
transmit to the Congress a report of any exercise of its
22
authority under this paragraph and the reasons for
23
such exercise.
24
"(11) During any period in which the required re-
25
serves of any depository institution under this subsec-
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Federal Reserve Bank of St. Louis
13
12
1
tion a.re greater than zero, a.nd such institution is ma.in-
2
taming such reserves in a.ccorda.nce with subsection (c),
8
it shaJl be entitled to aJl the privileges of membership
4
in the Federal Reserve System except that, if it is not
5
otherwise a member, it may not hold stock in, or vote
6
for a.ny director of, a Federal Reserve ba.nk.
7
"(12) Any depository institution in which category
8
A deposits a.re held shaJl be entitled to the same dis-
9
count a.nd borrowing privileges as member ba.nks.
10
"(13) TRANSITIONAL ADJUBTMENTB.-
11
"(A) With respect to a.ny institution that is
12
not a member of the ·Federal Reserve System on
13
August 1, 1978, the required reserves imposed
14
pursua.nt to pa.ragraphs (5) through (8) on the ef-
15
fective date of such pa.ragraphs shaJl be reduced
16
by 75 per centum during the first yea.r that begins
17
after such effective date, 50 per centum during
18
the second yea.r, a.nd 25 per centum during the
19
third yea.r.
20
"(B) With respect to a.ny ba.nk that is a
21
member of the Federal Reserve System on
22
August 1, 1978, the amount of required reserves
23
imposed pursua.nt to pa.ragraphs (5) through (8) on
24
the effective date of such pa.ragraphs that exceeds
25
the amount of required reserves maintained by the
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Federal Reserve Bank of St. Louis
14
18
1
member institution during the reserve computation
2
period immediately preceding the effective date of
8
such para.graphs may, at the discretion of the
4
Board and in accordance with such rules and reg-
5
ulations as it may adopt, be reduced by 75 per
6
centum during the first year that begins after such
7
effective date, 50 per centum during the second
8
year, and 25 per centum during the third year.
9
"(C) In order to provide for an orderly tran-
10
sition period, the Board shall implement the re-
11
serve requirements imposed by para.graphs (5)
12
through (8) for member banks in not more than
18
twenty-four months after the effective date of
14
such para.graphs.
15
"(D) Effective at the close of the third calen-
16
dar year which begins after the effective date of
17
this paragraph, this paragraph is repealed, but
18
such repeal shall not affect any liability imposed
19
or incurred prior to such period.".
20
(b) Section 19(a) of the Federal Reserve Act (12 U.S.C.
21 461) is amended (1) by changing "member bank" to read
22 "depository institution" each place it appears therein, and (2)
23 by adding at the end thereof the following: "The Board shall
24 exercise its authority to define the term 'deposit' when appli25 cable to nonmember depository institutions after consultation
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Federal Reserve Bank of St. Louis
15
14
1 with the Board of Directors of the Federal Deposit Insurance
2 Corporation, the Federal Home Loan Bank Board, and the
3 National Credit Union Administration.''.
4
5
AUTHORITY OF STATE BANK SUPERVISORS
SEC. 4. Nothing in this Act or in the amendments made
6 by this Act shall be construed in derogation of the authority
7 of any officer or agency of State over any institution orga8 nized or existing under the laws of such State.
9
10
COMPOSITION OF RESERVES
SEC. 5. Section 19(c) of the Federal Reserve .,!let (12
11 U.S.C. 461(c)) is amended to read as follows:
12
"(c) Reserves held by any depository institution to meet
13 the requirements imposed pursuant to subsection (b) of this
14 section shall be in the form of15
"(1) balances maintained for such purposes by
16
such i.'lstitution in the Federal Reserve bank of which
17
it is a member or at which it maintains an account,
18
and vault cash. The Board may, by regulation or
19
order, limit the proportion of required reserves which
20
may be maintained in the form of vault cash, but such
21
proportion shall be identical for all institutions; and
22
"(2) balances maintained by a nonmember institu-
23
tion in a member or nonmember institution that main-
24
tains reserve balances at a Federal Reserve bank or
25
balances in a Federal Home Loan Bank, but only if
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Federal Reserve Bank of St. Louis
16
15
1
such depository institution or Federal Home Loan
2
Bank maintains such funds in the form of balances in a
3
Federal Reserve bank of which it is a member or at
4
which it maintains an account. Balances received by a
5
depository institution from another depository institu-
6
tion that are used to satisfy the reserve requirements
7
imposed on such depository institution by this section
8
shall not be subject to the reserve requirements of this
9
section imposed on such depository institution and shall
10
not be subject to assessment imposed on such deposi-
11
tory institution pursuant to ~ection 7 of the Federal
12
Deposit Insurance Act (12 U.S.C. 1817) or section
13
404 of the National Housing Act (12 U.S.C. 1727).".
14
15
ABOLITION OF PENALTY RATE
SEC. 6. Section lO(b) of the Federal Reserve Act (12
16 U.S.C. 34 7b) is amended by striking all after the first sen17 tence thereof.
18
19
PRICING OF SERVICES
SEC. 7. (a) The Federal Reserve Act is amended by
20 inserting after section 11 the following new section:
21
"SEC. 11A. (a) Not later than July 1, 1979, the Federal
22 Reserve System shall have prepared and shall publish for
28 public comment a set of pricing principles in accordance with
24 this section and a proposed schedule of fees .for Federal Re25 serve bank services.
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Federal Reserve Bank of St. Louis
17
16
1
"(b) The Federal Reserve bank services to banks which
2 shall be covered by the schedule of fees under subsection (a)
3 are-
4
"(1) currency and coin services;
5
"(2) check clearing and collection services;
6
"(3) wire transfer services;
7
"(4) automated clearinghouse services;
8
"(5) settlement services;
9
"(6) securities safekeeping services;
10
"(7) any new payment services which the Federal
11
Reserve System provides, including but not limited to
12
payment services to effectuate the electronic transfer of
13
funds; and
14
"(8) any other services which the Board so de-
15
cides to cover.
l6
"(c) The schedule of fees prescribed pursuant to this
17 section shall be based on the following principles:
18
"(1) All Federal Reserve bank services covered
19
by the fee schedule shall be priced explicitly and com-
20
petitively.
21
"(2) All Federal Reserve bank services covered
22
by the fee schedule shall be available to nonmembers
23
and such services shall be priced at the same fee
24
schedule applicable to member banks, except non-
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Federal Reserve Bank of St. Louis
18
17
1
members shall be subject to any other terms that the
2
Board may determine are applicable to member banks.
3
"(3) Over the long run prices shall be established
4
on the basis of all direct and indirect costs actually in-
5
curred in providing the services priced, including over-
6
head, and an allocation of imputed costs that take into
7
account the taxes that would have been paid and the
8
return on capital that would have been provided had
9
the services been furnished by a private business firm,
10
except where the Board determines that the public in-
11
terest requires a departure from this principle, alter
12
giving due regard to competitive factors and the provi-
13
sion of an adequate level of services nationwide.".
14
EFFECTIVE DATES
15
SEO. 8. (a) The amendment made by section 2 of this
16 Act shall take effect on the first day of the sixth calendar
17 month which begins after the date of enactment.
18
(b) The amendments made by section 3 and section 5 of
19 this Act shall take effect on July 1, 1979, or such earlier
20 date as may be designated by the Board of Governors of the
21 Federal Reserve System.
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Federal Reserve Bank of St. Louis
19
Chairman REUSS. The Federal Reserve argues that it must have
a high percentage of the Nation's bank deposits subject to reserve
requirements in order to carry out monetary policy effectively. In
recent years, the amount of reserves under the Federal Reserve's
control has been dwindling as banks pulled out of the Federal
Reserve System in increasing numbers because of the cost of membership.
H.R. 7 represents evolutionary rather than revolutionary change.
Its passage would allow a phased reduction in the level of required
reserves. It would also significantly simplify and rationalize the
present structure of required reserves, enhancing the conduct of
monetary policy and promoting equitable competition among financial institutions.
The bill would assure that 68 percent of the Nation's bank deposits will at all times be subject to reserve requirements. It achieves
this by subjecting all banks with more than $50 million in checking
account deposits or $50 million in time and savings deposits to
reserve requirements. In practice, since vault cash would count
toward meeting reserve requirements, most banks with less than
$200 million in total deposits would have no need to post reserves
with the Federal Reserve. The $50 million exemptions will be
indexed to assure that banks exempted by this legislation from
having to hold reserves will continue to remain exempt, unless
they grow faster than other banks and achieve the size at which
reserve requirements take effect.
Under this proposal, some 232 large banks which are not now
members of the Federal Reserve would have to begin posting reserves. However, a great many more small- and medium-sized
member banks-some 4,664-would be freed of their present need
to post reserves.
Altogether, 95 percent of the Nation's 14,618 banks would be
completely free of the need to hold reserves with the Federal
Reserve.
At the same time, member banks which would continue to be
subject to required reserves would have their reserve requirements
substantially reduced. Instead of a maximum of 16.25 percent on
checking account deposits, they would have to hold initially only
9.5 percent-within an 8- to 10-percent band. A typical $300 million
deposit bank, for instance, would have its reserve requirements
reduced by some $7 million, money which it could put out in loans.
In addition to providing the level of required reserves the Federal Reserve says is needed for purposes of monetary control, the bill
achieves competitive equality among all banks of comparable size,
in terms of reserve requirements. No longer will the burden of
maintaining required reserves, idle reserves on which the banks
earn no interest, fall only upon those banks which choose to be
members of the Federal Reserve System.
Under this legislation, all commercial banks would be entitled to
borrow from the Federal Reserve, whether members or not. Thrift
institutions which have transactions accounts-savings accounts on
which checks can be drawn-also would be entitled to borrow from
the Federal Reserve. The Federal Reserve, which now provides free
services such as check clearing to member banks, would begin
charging for such services.
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Federal Reserve Bank of St. Louis
20
The Monetary Control Act of 1979 would improve management
of the Nation's money supply in two ways in addition to meeting
the Fed's position on the requirement of reserves:
First, it would authorize the Federal Reserve to obtain more
timely and complete information on deposits in the Nation's banks
and savings institutions. Currentll, only Federal Reserve member
banks-38 percent of the Nations banks with 72 percent of the
deposits-report on a regular basis. This leaves the Fed with inadequate information on the size of the money supply.
Second, it replaces a hodgepodge of reserve ratios with more
uniform ratios. Currently, member banks are subject to reserve
ratios ranging from 7 to 16.25 percent on checking accounts, depending upon the size of the bank; and between 1 and 8 percent on
savings and time deposits. Thus, when the Federal Reserve takes
action to raise or lower reserves, it cannot accurately predict the
effect on the money supply because the money is shifting around
among deposits with widely different required reserve ratios.
Under the proposed legislation, reserve ratios would be set at 9.5
percent for checking accounts, including savings accounts from
which funds can be drawn by check or by automatic transfer to
checking accounts; 3 percent on savings deposits; 1 percent on longterm certificates of deposit, and 8 percent on short-term certificates
of deposit. The Federal Reserve could alter these ratios within
limited ranges, but only for the purpose of monetary control.
A substantially similar bill was approved by the House Banking
Committee September 19, 1978, by a vote of 22 to 14. H.R. 7
contains three changes from that legislation:
First, it includes automatic transfer accounts at commercial
banks in the same category of reserve requirements as checking
accounts, since both are part of the Nation's basic medium of
exchange.
Second, it also includes in this category savings accounts at thrift
institutions on which checks can be written, since these are also
part of the medium of exchange, a change which, because of the
$50 million exemption, affects few if any thrift institutions, but
recognizes the potential growth of such accounts.
Third, it provides lower reserves on passbook savings accounts,
since these do not represent ready money, offset by slightly higher
ratios on checking accounts.
The objectives of this legislation cannot be met in a completely
cost-free way. Some proposals for stopping the erosion of required
reserves, caused by dwindling Fed membership, would have induced banks to stay with the Fed by paying interest on reserves.
Such interest payments could run into billions of dollars. Since the
Congress is determined to keep the deficit under control, such
proposals are unacceptable. H.R. 7 would achieve its goals in a
fiscally prudent manner. The cost, according to administration estimates, would be $172 million a year.
I am delighted, incidentally, to welcome our present members
and particularly to welcome new members, Michael E. Lowry of
Washington, Edwin R. Bethune of Arkansas, Carroll A. Campbell,
Jr., of South Carolina, Don Ritter of Pennsylvania, and Jon Hinson
of Mississippi. The freshman class deserves all sorts of praise for
having such a splendid attendance record.
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Federal Reserve Bank of St. Louis
21
Today we welcome our first witness, the Honorable Robert Carswell, Deputy Secretary of the Department of the Treasury, on
behalf of the administration.
Secretary Carswell, we are most honored to have you with us.
You may now proceed.
STATEMENT OF HON. ROBERT CARSWELL, DEPUTY
SECRETARY, DEPARTMENT OF THE TREASURY
Mr. CARSWELL. Thank you, sir.
I am pleased to present the views of the administration on H.R.
7. We support the efforts of the Congress to deal with the question
of mandatory universal reserves for depository institutions at this
time.
In mid-1977 the administration requested the introduction of S.
1664, which approached this question in a somewhat different way
and we gave general support to other approaches in the last Congress. We hope the Congress will be able to act on this matter early
in this session. Many plans have been put forward to deal with this
problem. Rather than discussing them in detail, I would like to
consider the principles that we believe should govern this undertaking.
They are, first, improvement of the tools available to the Federal
Reserve in the implementation of monetary policy; second, reducing competitive inequities among depository institutions engaged in
the same or similar lines of business; and third, restraining the
negative impact of any changes on the Federal budget in this
period when the administration and the Congress are striving to
squeeze down the deficit.
These objectives are best served in our view by imposing mandatory reserve requirements on all institutions holding similar deposit balances. Since reserve requirements are important to the effective formulation and implementation of monetary policy, their coverage should not be contingent upon voluntary or induced membership in the Federal Reserve System. They should be regarded as a
price and a necessary component of participation in the monetary
system, rather than a result of decisions about the choice of a
regulator, the value of access to the discount window, or a nice
balancing of the costs of maintaining reserves against the benefits
of membership.
Moreover, to the extent that all institutions that maintain transaction balances have the same level of reserves, the link between
the aggregate amount of reserves and the money supply is made
more firm.
For these reasons, this bill takes a constructive step in severing
the connection between reserves and Federal Reserve membership
and by focusing instead on the type of balance involved. Extending
reserve requirements to thrifts for transaction accounts is a timely
shift toward competitive equality and a more equitable distribution
of the reserve bur<len. The adverse impact on thrifts is relatively
small because their transaction balances are small at this time. Of
course, it is not possible to achieve full equality of treatment with
this step.
There are many small depository institutions that with some
justification will resist a reserve obligation on the ground that the
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Federal Reserve Bank of St. Louis
22
adverse impact on their earnings is too great and their participation, while theoretically correct, may not in practice be necessary
to the effective conduct of monetary policy. Total reserves in excess
of vault cash of the smaller banks would, in any event, constitute
only a small proportion of the total reserves. Accordingly, some
exemption from universal reserves for small institutions may
therefore be appropriate, but we hope that the exemption would be
less generous than that proposed in this bill.
In effect, H.R. 7 ratifies the status quo by insuring that the
slightly less than 72 percent of commercial bank deposits currently
subject to reserve requirements remain subject to reserve requirements. Equity prompts expanded coverage, which also might lower
reserve ratios. It would also provide a larger reserve base for us in
monetary policy implementation while still leaving the vast majority of small depository institutions unaffected.
The reporting requirements contained in the bill provide important supplementary monetary coverage of all depository institutions not required to hold reserves. The report forms and statistics
should be brief and rely as much as possible on existing information flows. The paperwork of all institutions, particularly the
smaller ones, should be kept to a minimum.
Finally, we do not think that the concept of universal reserves is
inconsistent with the principles of the dual banking system. That
system recognizes that when there is an overriding Federal interest
in an issue, the ground rules should be established by the Federal
Government.
That is the case, for example, with bank holding companies. It is
also the case with monetary policy. So long as reserves have a role
to play in this process, all banks similarly situated should have the
same burden to the extent practicable. Surely the Federal Government has no responsibility to insure the viability of State supervision by making it financially unattractive for a bank to be a
member of the Federal Reserve.
The strength of the dual banking system comes from the choice
it offers on supervision and examination. That choice remains unchanged by this bill. Moreover, the availability of Federal Reserve
services to all banks at nondiscriminatory rates will make it easier
for a larger bank to be a nonmember.
In the last Congress, the administration indicated that if the
Congress decided that the holding of reserves should continue to be
voluntary, then the administration would support legislation to
reduce the financial burden of membership through the payment of
interest on reserves. For all the reasons I have noted, we very
much prefer the approach of required reserves as it is embodied in
this bill.
In testimony before the Senate Banking Committee last June
and August and in a letter to this committee in September, the
administration stated that it would accept a revenue loss of $200 to
$300 million after tax recoveries to d·eal with this problem. Then in
an October letter to the Senate Banking Committee, with the
budget outlook tightening, we indicated that a revenue loss at the
lower end of that range or perhaps below it was preferable.
In the current budget environment, a solution to the membership
problem involving a revenue loss under $200 million net of tax
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Federal Reserve Bank of St. Louis
23
recoveries is essential. We understand that the committee staff
estimates that the net cost of implementing H.R. 7 would be approximately $170 million. While this expense does not exceed the
limit of acceptability, these next few years will be ones of budget
stringency. Accordingly, we would encourage exploration of proposals that involve lower costs.
In any calculation of the total annual cost of the membership
solution, the Congress should focus on the fiscal 1980 budget
impact. There are several elements in the revenue and cost figures
that make the near term financial results of various membership
solutions a matter of special concern.
In determining the after-tax revenue loss for most proposals,
estimates of tax recaptures that may take several years are used.
These deferred tax effects might leave a disproportionate aftertax
shortfall in the first year of most annual loss projections. Similarly,
most proposals assume income of about $410 million from the
explicit pricing of Federal Reserve services to reduce the annual
net revenue loss the proposals will generate. Yet not all the revenue will be available in fiscal 1980. It will take time to develop and
institute prices on some services.
Finally, most membership proposals contain provisions, as in this
bill, to phase in reserve requirements on depository institutions
that are not now Federal Reserve members and to impose any
increased requirements on existing members over a 4-year period.
At the same time, the proposals mandate that any change in
reserve ratios, including the moderate lowering in H.R. 7, be effected within 2 years.
We are concerned that the time gap between a lowering of ratios
and the accumulation of new reserve balances may increase the
net revenue loss in the early years. Accordingly, our support of
H.R. 7 is premised on the assumption that the Federal Reserve will
fully offset any revenue loss during the transition years. Chairman
Miller has advised me that the Board of Governors has agreed to
this approach.
Mr. Chairman, the staff of the Federal Reserve and the Treasury
have been working on more refined methods of estimating the
revenue loss for this bill and I would like to submit for the record
in the next week those revised estimates.
[Subsequently the following information was submitted for the
record by Mr. Carswell:]
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Federal Reserve Bank of St. Louis
Estimated Revenue Effects of R.R. 7
Fiscal Years 1980-84
millions
Reduction in Federal Reserve earnings due to reduction in
reserve requirements for member banks, at 10/79 projectedl/
membership levels, phased in over 2 years beginning l0/7g.::
Fiscal Years
1982
1983
1984
1980
1981
-521
-1,131
-1,228
-1,332
-1,445
33
71
115
166
180
lli
535
579
~
ill
-534
-536
-583
Increase in Federal Reserve earnings from extension of
~:::::nt?~~;:ir::. ~.=::::. ~~::~. ~~. :':::.~.~:~::
Net change in Federal Reserve earnings before
tax recovery ••••••••••••• , ••••••••••••• , •••••••
-217
-525
• , , , ••••••••••••••• , ••••••••••••••••••••
~
155
.ill
~
.ill
Net revenue effect before offset for membership
attrition under present Federal reserve
requirements ••••••• , • , ••••••• , •••• •., ••••••••• ,
-148
-370
-316
-300
-326
.ll
103
ill
lli.
ill
Net revenue effect •••••• , , •••.••••••• , . , •••••••••
-117
-267
-147
-64
-13
3/
Income tax offs er-
u.s. Treasury
BDard of Governors of the Federal Reserve System
Footnotes to table
j/
Assumes: (1) between 12/77 and 9/79 member bank deposit attrition continues at the average of the nation
for the period 1975-77 (i,e, 1 the member bank share of total commercial bank deposits declines 1.7 percentage
points per year); (2) total coumercial bank deposits increase at an average annual rate of 8,5 per cent each
year after 1977; and (3) the average return on the Federal Reserve portfolio is 6,5 per cent per year from
10/79 through 9/84.
l./
Assumes: (1) full charging for Federal Reserve services, if fully implemented at the end of 1977, would have
generated $410 million; and (2) Federal Reserve revenue from such charges grows proportionally to the growth
in deposits assumed in footnote l.
11
Recovery of the loss of Treasury revenue from the decline in Federal Reserve earnings asaumes: (1) additional
cmrmercial bank earnings are taxed at an average marginal rate of 35 per cent; (2) the lagged additional
dividends paid to conmercial bank stockholders from the higher commercial bank after-tax earnings increases
total tax recovery 2-1/2 percentage points per year until the total tax recovery reaches 45 per cent of
the additional commercial bank earnings in four yeara; and (3) 45 per cent of each year's tax liability
is paid in the fiscal year incurred and 55 per cent is paid in the next fiscal year,
!!,/ Assumes:
(1) if R.R. 7 is not enacted, the attrition of meuber bank deposits would accelerate to a rate midway
between that experienced in New England and that of the nation during the 1975-77 period; (2) total commercial
bank deposit growth and Federal Reserve portfolio return are as indicated in footnote l; and (3) the tax offset
to higher earnings of member banks no longer subject to required reserves is as indicated in footnote 3,
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Federal Reserve Bank of St. Louis
25
Mr. CARSWELL. Section 7 of H.R. 7 would require the Federal
Reserve to price its services and make them available to all depository institutions, whether or not they are members or hold reserves. Once access to System services is no longer required as an
inducement to membership, the more general availability of Federal Reserve services should benefit the banking system as a whole.
Moreover, requiring that the Federal Reserve price services on a
basis involving full allocation of cost with appropriate allowances
for costs unique to private organizations, such as capital and taxes,
should allow other vendors to compete with the System more effectively. Hopefully market systems will then become important in
establishing the prices of these services and the relative roles of
the competing vendors.
H.R. 7, like its predecessor H.R. 14072, would index the exemption from reserve requirements based on deposit growth. We do not
favor this provision. The exemption results from the structure of
the current system under which many small banks are nonmembers and thus maintain no reserves at the Federal Reserve
and others very low reserve requirements.
We should seek to eliminate the disparate treatment of large and
small banks over time. If the exemption is not indexed, the growth
of the deposit base over the years will gradually reduce the scope of
the exemption and will further the objective of competitive equity
in the banking systems.
I would like to note for the record that the Comptroller of the
Currency is in basic agreement with the general direction taken by
H.R. 7. While the Comptroller feels strongly that ultimately reserve requirements should be imposed equally against comparable
liabilities for all depository institutions, it is his position that H.R.
7 represents a workable solution to the problem of assuring the
Federal Reserve of adequate control over the monetary aggregates.
This concludes my formal testimony, Mr. Chairman, and I would
be pleased to answer any questions that the committee may have.
Chairman REUSS. Thank you for an absolutely first-rate presentation, Mr. Secretary.
I want at this time to acknowledge the presence of the chairmen
of two subcommittees which are intimately concerned with this
matter, Mr. Fernand J. St Germain, chairman of the Financial
Institutions Supervision Subcommittee, and Mr. Parren J. Mitchell,
chairman of the Domestic Monetary Policy Subcommittee. Through
the matter of bank regulation and through the matter of monetary
policy, both these subcommittees are intimately involved; both subcommittees have taken leadership in the last year investigating
this issue, and I trust that leadership continues.
We will now examine under the 5-minute rule.
Secretary Carswell, I take it the administration's position is one
of full support for H.R. 7 with the two exceptions, those exceptions
being: First, that in order to minimize the loss of revenues, the
administration would prefer that the two $50 million exemptions
be somewhat reduced so as to reduce or eliminate the revenue loss;
and second, and somewhat to the same effect, the administration
would prefer to eliminate the indexing provision, which in effect
says that as long as a bank simply grows proportionately with
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other institutions, it will not by its growth find itself posting compulsory reserves.
Is that a fair statement, that those are the two points that you
feel need improvement?
Mr. CARSWELL. That is a fair statement, Mr. Chairman.
Chairman REUSS. I would have a couple of questions about each
one.
With respect to the first point, namely lose less revenue, how
would you suggest we go about that? We could go about it I should
think by a variety of means: First, reduce the $50 million; second,
raise the reserve requirements. Either/or, some combination thereof would, I suppose, result arithmetically in whatever result the
administration wants.
Do you have a preference?
Mr. CARSWELL. I think that is correct. Those are the alternatives.
The purpose for the exemption is to avoid too much of a dislocation
in the present competitive system in the banking area now and the
exact level at which the exemption is set is, I suppose, a function of
how much the System can be changed at one time.
I would think it ought to be possible, based on the runs in your
committee print, to lower that exemption somewhat without
having an unacceptable effect on the levels of competition with
smaller banks.
I suppose alternatively one could raise reserve requirements
which would then raise revenue from all the banks that remained
in the System. That would in a sense further the competitive
advantage of those banks that are out and I would suppose that
would move, generally speaking, in the wrong direction, so the
reduction of expense is probably preferable.
We would not have a strong feeling on that. It is a question of
what, all things considered, is the best way for the process to move.
Chairman REUSS. Thank you for that answer.
Does the administration intend to make a more detailed arithmetical proposal on that, or are you simply saying that you would
view it with pleasure if the committee or the Congress reduces the
present $50 million somehow or other so as to lose less revenue at
the banks?
Mr. CARSWELL. I do not think we would propose to go any farther
than what I just said. AB you know, Senator Proxmire approaches
the bill both ways, with a higher exemption and lower reserve
ratios. There is plenty of room for differing views. I am not sure
our specific view will add anything to the debate.
Chairman REUSS. I think you have made it clear.
On your second point, that you do not like the indexing arrangement, you addressed yourself to that point in your testimony and
said on page 5 of xour written statement that you do not care for
indexing because ' We should seek to eliminate the disparate treatment of large and small banks over time."
There is of course in this bill disparate treatment. All banks get
$50 million of deposits on which they are home free, they are not
required to post sterile, noninterest-yielding reserves on those. And
that does involve a valid judgment.
Is it the administration's position that smaller banks not be
treated ever in a favored way over larger banks?
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I say that because it is the view of the authors of this legislation
that such favored treatment is in the public interest. We do not
want to see this country become one like the United Kingdom
where you have only five big banks. We note that under our
corporation income tax laws, benefits of a special nature are given
small business; that is to say, the first $25,000 of income is taxed at
a lower rate than income over that amount.
It is the view of this committee that there is a difference, that
small banks should be encouraged to maintain correspondent banking relations, they should be encouraged to grow but that at a
certain level-and here we did take $50 million times two out of
the blue, so to speak-banks should be asked to sink or swim on
their own.
Is there a philosophical difference between the administration
and those of this committee who believe in disparate treatment, as
you have suggested?
Mr. CARSWELL. I do not think there is any basic philosophical
difference. I suppose if one wanted to be a purist about it, there is
not any real reason why anybody who runs banks should not have
the same rules applied to him. But the fact is that small banks do
not have the relative economies of size that larger banks have.
They may have some other disadvantages too. And I think that has
been recognized, as you say, both in the tax laws and in other areas
of banking laws.
On the other hand, I guess the basic question is: How small is
small?
A $50 million exemption on transaction balances can apply to a
pretty big bank by anybody's objective standards. The smaller
bank, the really small bank, can go one-tenth of that, without any
particular difficulty. So when you get to a $50 million bank and
another $50 million on top of that for the time and savings exemptions, you are talking about a bank with very large balances by
some people's ideas of objective standards.
Now I would suppose that that is where the debate lies, where
that break ought to be, not that there is not a special problem for
smaller banks.
Chairman REuss. So we are not talking principle, we are talking
price?
Mr. CARSWELL. I think that is right.
Chairman REUSS. My time is up. Mr. Leach, welcome to the
august upper row.
Mr. LEACH. To be sure I feel out of place. I just have one
question.
On page 3 of your testimony you maintain that mandated reserves are not inconsistent with the dual banking system. Does it
not seem likely that nonmember banks, when they are required to
maintain reserves, will also leave their State banking systems and
therefore to some degree jeopardize the current dual banking arrangement?
In that regard, do you have estimates or have you surveyed the
banks that potentially would be affected to ask their judgment
whether they would leave the State banking system if subject to
mandated reserves?
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Mr. CARSWELL. I know obviously that is the argument, that if you
had to be a member of the Fed, that it might be to the advantage
of a bank that is now a State bank to turn to a national charter
and thereby have one regulator instead of two. And that is no
doubt what could happen.
No, we have not surveyed it. I do not know whether the Fed has
or not. We really do not have any mechanism to survey the 15,000
banks in this country in the Treasury Department; we are not in
touch with them directly.
I think it is fair to say that the dual banking system relies for its
strength on the fact that State regulation does offer something
different from what the Comptroller offers and that would be in
the areas of powers and its general approach to local problems.
That will still be present, whether or not they are members of the
Fed; I suppose that is what the dual banking system is all about.
The reverse of the argument that I presented in the statement is
that you are asking the Federal Government to in effect pay these
people for staying out, because we do now in the present system.
That is, we make it unattractive to be a member of the Fed today,
and that is a crazy way to build your monetary base. We would
think that the rational way is as the bill suggests and then, if the
dual banking system has the strengths that we all think it has, it
would not be seriously affected by this move because the State
supervision system will continue to have exactly the same kind of
advantages that it has today for some.
Mr. LEACH. I sympathize with your concerns and I think your
arguments for changing the current system are strong. However, I
think it is a bit glib to say that the dual banking system will not be
affected when you have no real assurance.
Second, I think it would be responsible to survey in some manner
the banks that might be affected. A survey could be more the
Federal Reserve's role than Treasury's. However, from my discussions with Iowa bankers, the primary reason for staying with the
State banking system is economic and not one of local control.
Therefore it would appear to me to be very much a matter of
conjecture that economic incentives will not disrupt the current
balance.
My only concern is that before we take a substantial step, and
this is a step that I think all of us want to seriously consider, we
know from a first-hand point of view what the ramifications are
going to be. I am not sure that either the Treasury or the Fed at
this time is in a position to say definitively what they will be. I
wonder if steps are being taken to try to ascertain that in advance.
Mr. CARSWELL. As I said, we are not conducting any survey, we
are really not in a position to.
Mr. LEACH. Thank you. I have no further questions.
Chairman REUSS. Mr. St Germain.
Mr. ST GERMAIN. Thank you, Mr. Chairman.
Mr. Carswell, I think that one of the important questions that
has to be addressed here, because I suspect this legislation, whether it be in the form it is now or an amended fashion, is going to
face a rockier road now than it did in the last Congress. I do not
think there should be any doubt about that.
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I feel that the members of this committee will have to be convinced of the necessity of the legislation, to wit: Is it absolutely
necessary for the conduct of monetary policy that this legislation
be adopted and with the trend toward financial institutions leaving
the Federal Reserve System be reversed?
Second and honestly, perhaps you can address the next question
this morning or in reply in written comment, it is my understanding that, on the Senate side, legislation will be introduced that
would exempt from reserve requirements the savings accounts of
the smaller people, so to speak, because traditionally we know that
these funds do not move. They go in there, we have people who
have still accounts, passbook accounts in financial institutions, primarily commercials that are paying them 4, 4¼, or 4½ percent. So
these are not the type of funds that move around a great deal.
My understanding is that the legislation may well be proposed in
the Senate which would impose reserve requirements on transaction accounts and on commercial type certificates of deposit. This
approach would appear to alleviate the burden that might well be
suffered by a great many smaller institutions.
I personally have been very impressed by the situation at one of
my financial institutions in Rhode Island that converted a few
years back from being a dual financial institution-as you know,
we have some unusual situations in Rhode Island-it was both a
savings bank as well as a commercial bank. And that charter dated
back an untold number of years. They still are one of the leading
institutions in Rhode Island, as far as home mortgage financing is
concerned. When they converted, over 80,000 people in Rhode
Island became stockholders. A reduction in their income, which
under this legislation would be quite substantial despite the
changes that have been made since last year, would adversely
affect not people with deep pockets but just savers, ordinary working people. I find that argument is a compelling one. So I say to
you, there are two questions that are going-that I would like
answered.
First, can we be convinced and assured of the fact that membership in the Fed is an absolute requirement for the proper conduct
of monetary policy?
And second, if that be the case, is it also necessary that the
requirements attach themselves to the traditional savings accounts
as opposed to limiting themselves to transaction accounts in commercial certificates of deposit?
I think, Secretary Carswell, you realize that after our work together in the last Congress, which was very pleasant, that I by no
means grieve or shed too many elephant tears for the commercial
banking system. By the same token, I feel we have to look at the
realities of life.
Mr. CARSWELL. I think this committee has already heard in the
last Congress from a number of people who have addressed these
questions and of course there are those who say that in order to
conduct monetary policy, you do not need reserves at all, you can
do it through market operations. And in that sense I do not suppose it is possible for anyone to assure you that it is 100 percent
necessary for the Fed to have required reserves.
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On the other hand, we have conducted monetary policy now
since the start of the Federal Reserve System with a required
reserve base and it has been relatively successful. All our statistics
and our experience are with that approach.
I would suppose that to shift now to an approach where there is
no required reserve base, which is a theoretical possibility, would
involve taking risks and consequences that I do not see any reason
to take. Further, it would involve a very significant diminution in
the revenues of the United States.
The fact is that the required reserves do provide income for the
Fed; that is they, the Fed, use that money, and the earnings on the
funds, those required reserves, come to the U.S. Treasury, and the
amounts have been relatively large in recent years. That is a price
that is built into the banking system and to give up those reserves,
in effect to give them back to the banks at this juncture in your
budgetary and appropriation policy considerations, would seem to
me to be unwise as well.
So I would think that it is pretty clear that we ought to continue,
the Fed ought to continue to conduct its monetary policy from a
required reserve base and that base ought to be as high as possible.
Now if you accept that, then a further point I suppose is relevant;
that is, that it is easier, more simple and understandable to conduct monetary policy from a reserve base if you know what that
base is, if it is settled, if it does not shift. It is constantly shifting
now, both because we have a rather complex structure of reserve
requirements-the schedule of reserves that banks are required to
keep-and also because people keep leaving the System. They leave
the System because it is too expensive and that in turn inhibits the
Fed from changing reserve requirements and hence we lose the
flexibility in the conduct of our monetary policy which we could
otherwise obtain.
I think where we come out is that it is necessary, as a practical
matter, to have a reserve requirement system in this country and
that that system ought to be as stable and predictable as possible,
and that is the way this bill approaches it.
Now there can be obviously plenty of room for modifications and
changes in the mix and you are suggesting that it would be preferable to lower or exempt the reserve requirements on one component; namely, savings deposits.
I would suppose that is partially recognized now by the fact that
H.R. 7 does have the reserve requirement at 3 percent, which is
significantly below what the requirement is on transaction balances. And I think that is done philosophically at least to recognize
that there is a difference in the types of deposits. Whether that
requirement should go to zero or not I would suppose is an open
question.
Traditionally we have always had some level, some type of reserves on savings accounts, savings deposits, but I suppose it is not
impossible to think of a system where it could be lower. I would
think the balance suggested in the bill, which is, incidentally, the
same balance suggested on this point at least in Senator Proxmire's bill which was introduced last week in the Senate, is probably a pretty fair level. But I am not really familiar with the
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institution you are talking about, so I do not know exactly what
the dollars and cents effects would be.
Mr. ST GERMAIN. I can say it is significant.
Thank you, Mr. Secretary.
Chairman REuss. Thank you, Mr. St Germain.
Mr. Annunzio.
Mr. ANNUNZIO. Thank you, Mr. Chairman.
Mr. Secretary, I am concerned that the cost of this legislation
may not justify the proposed benefits. I have not been convinced
that the Federal Reserve System can do an effective job of controlling monetary supply, even with passage of this legislation. The
system seems to have set on one of the two courses to pursue with
monetary policy. When they do not work, they just continue to
plow along with the same programs, I guess, under the rationale
that eventually they will get lucky.
I want to make it clear I am not talking about the efforts of the
current Federal Reserve Board Chairman, because I think he inherited this monetary mess we are in. Given the track record of
the Federal Reserve Board, how can I justify to my taxpayers an
expenditure that may range as high as $300 million or as low as
$170 million, at a time when we are trying to cut spending and not
add to it? How can we justify that with the taxpayers?
Mr. CARSWELL. Mr. Annunzio, I can only say that the President
feels at least as strongly as you do about the necessity of being
tightfisted with expenditures in our Federal Government, and I
emphasize in my statement that we would prefer to see that cost
down.
I should also say that we will be submitting for the record here a
more refined analysis of what those costs will be as best we can
estimate them. I think they are a little lower probably than the
numbers that have been considered heretofore. I think we have
done more work on it and refined the assumptions, but the fact is
that there still, as you rightfully point out, will be a considerable
loss in revenue by anybody's standards and justifying that loss
depends on how important you think it is that we give the Fed the
maximum tools to conduct monetary policy.
I think it is important that they have those tools. I think we also
should not forget that there is no reason to think that attrition
from the Federal Reserve System will not continue if we do not do
something here and that will also result in a loss in revenue to the
Treasury, whether or not we help the Fed to conduct its monetary
policy better.
I would suppose that that is shortsighted, too, that is, to keep a
system going now which has demonstrated that it is losing members because the members find that they can get the services that
the Fed gives them elsewhere cheaper and hence they flee from the
System.
If the rate continues, it would not be surprising in 5 years if we
lost something approaching 20 percent of the present membership.
And I think on the whole that would be very unfortunate both
from the standpoint of a cohesive banking system and from the
standpoint of the conduct of our monetary policy.
I am not sure I agree with some of the characterizations of the
way that the Fed has conducted monetary policy in the past that
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you have made but, on the other hand, it is going to make it a lot
harder for them if they continue to lose members at the rate they
are losing them now.
Mr. ANNUNZIO. In general, what you are saying and merely
trying to clear the air because I know I will blast them on the
question, what you are saying, if $300 million is too much, $170
million is too much, that if we have to revise your figures, if we
spend $100 million, we save the Federal Reserve System, then the
amount of money that we are spending is justified. Is that about
what you are saying?
Mr. CARSWELL. Yes, sir.
Mr. ANNUNZIO. Thank you.
Now, Mr. Secretary, couldn't we solve the problem of the Federal
Reserve membership losses by requiring all commercial banking
institutions to place reserves with the Federal Reserve Board and
then the Board would charge the financial institutions for any
services rendered by the System, such as wire transfers, discount
window services, currency and coin distribution? The amount of
interest that would be paid on these reserves would not be a set
amount, but would be determined by the amount generated by the
sale of banking services by the Fed.
At the end of the year, the Federal Reserve Board would add up
the income, just like any businessman, from selling these services,
deduct its cost of operation and then the rest of the moneys would
be paid out to the member banks in the form of dividends.
It might be that a bank would receive a I-percent-interest dividend or it could receive a 15- or 20-percent dividend, but in no case
would the taxpayer be directly or through the subterfuge that you
can raise the pay, responsible for any of the interest payments.
I would like to get some of your thoughts on that plan that I
propose; it is not refined or complete, but it is something to throw
out, that we are in the business of selling services. In your own
department, if I were to look at your budget, I could see maybe five
or six consulting firms that you hire to make a study; we have all
kinds of companies in this country that are selling services.
I think that the Government ought to embark upon a program of
getting paid for some of the services that it renders.
Mr. CARSWELL. Well, I think you are suggesting a formalized
approach to see that it would break even, whatever we do now,
that is starting from the base now that banks would neither gain
nor lose.
I don't know quite how that will fit with the smaller banks that,
under H.R. 7, would be required, in effect, to have reserves up, and
even if they got a dividend back, I am not sure they would come
out as well as they are now. The exemption insures them, in effect,
of the most favorable type treatment.
Mr. ANNUNZIO. I know, Mr. Secretary, you realize the thrust of
my question is not to worry about the bankers because if you read
the financial pages they are the only people showing a profit today.
I am worrying about the taxpayers.
Mr. CARSWELL. Well, you and I don't have any difference of
opinion that if this thing could come in at break even, we would be
in favor of it.
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Mr. ANNUNZIO. My time is up. I have one more question. I will
ask that at the next go-around.
Thank you very much.
Chairman REUSS. Thank you, Mr. Annunzio.
Mr. Bethune.
Mr. BETHUNE. Mr. Secretary, you seem to say in your report,
page 3, that the strength of the dual system comes from the choice
it offers on supervision and examination, which seems to me about
the very least that you could say for that system or any dual
system.
I wonder, do you recognize that the system has any other
strengths?
Mr. CARSWELL. I understand the philosophy for the dual banking
system, the thoughts behind it; they are concentrated on the idea
that banking has benefited in the past from diversity and will
continue to do so and that the dual banking system permits diversity, particularly at the local levels in the banking system and it
does that because State supervisors may be in a position better to
accommodate innovation and the problems of localities are less
than with a more monolithic Fed system, and I would have supposed that that is the heart of what the advantages are.
The issue here is whether, when we make the cost of Federal
Reserve membership more neutral that that will lead people to
forgo the advantages of possible diversity and innovative approach
at the local levels and thereby weaken the System.
I would have supposed that the issue then gets to be how much is
the Federal Government going to be prepared to subsidize that
dual banking system because, in effect, that is what will happen.
That is happening now. The reason people are not assuming their
Federal Reserve responsibilities by remaining members is that it
costs money and they can avoid it by staying out.
If every bank is required to assume the same responsibilities as a
member bank, that is equitable, I suppose, overall, and if the dual
banking system has the strength, as I think you and I would agree
it does, then that shouldn't adversely affect them.
Mr. ANNUNZIO. If it should attract people to leave the dual
system-institutions to leave the dual system, then would we lose
forever the benefits of that system or would you imagine that the
Federal Government then could replace that by beefing up the
services and rapport that now exist in the System and would that
not in turn cost additional money?
Mr. CARSWELL. I think you have to look at it in a number of
different ways. In a sense it depends on where you start. Today the
dual banking system, by percentage, is stronger, I would suppose
we would agree, because the percentage of banks that are now
State-chartered as opposed to federally chartered is up and that is
because, in part, of the withdrawal from the Federal Reserve
System.
Now, it just depends on what you think the proper level is. After
all, Fed membership is down now from 88 percent in 1941 to 72
percent now. So part of that has accrued, I suppose, to a stronger
dual banking system.
Now, whether that occurred because they were fleeing the financial responsibilities of being a Fed member or because the State
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supervisors ran a better show than the Fed supervisors, I guess
none of us really knows, but the shift has been in that direction
and I am not sure, if one made the Federal Reserve membership
neutral, which is essentially what the proposal is here, that is, so
nobody would lose by being either in or out, that would necessarily
mean that people would flee the dual banking system; if the dual
banking system has the advantages, as I certainly think it has in
some areas, there won't be any significant diminution.
Mr. ANNUNZIO. Thank you.
Chairman REUSS. Mr. Mitchell.
Mr. MITCHELL. Thank you, Mr. Chairman.
I realize that this is a hearing on H.R. 7,.but I want to make a
brief comment on the statement made by Mr. Annunzio regarding
the peculiar ways in which the Federal Reserve occasionally acts.
Today, I issued a press release with regard to a half billion dollar
loss that the American taxpayers have sustained as a result of the
Federal Reserve's intervention in the foreign exchange market.
Last year I spoke about this on the floor, suggesting that our
intervention in foreign exchange markets has not been beneficial
to us. Now we have a half billion dollar loss to our economy
resulting from that intervention.
[The press release referred to by Mr. Mitchell follows:]
PRESS RELEASE OF REPRESENTATIVE PARREN
J.
MITCHELL
[For release on Monday, Jan. 22, 1979, 10 p.m. e.s.t.]
Representative Parren J. Mitchell (D. Md.), Chairman of the Domestic Monetary
Policy Subcommittee of the House Banking, Finance and Urban Affairs Committee,
charged today, "The Federal Reserve System lost $506 million last year by speculating in the foreign exchange market." The loss, which was largely due to past foreign
exchange operations "increased our budget deficit dollar for dollar, and no enduring
benefit resulted from this tremendous half billion dollar cost," Mitchell said. He
called the House's attention to the loss in a floor statement "because the Federal
Reserve undertook massive new foreign exchange commitments in 1978, and continues to intervene in foreign exchange markets even now."
"Had the Federal Reserve not lost the $506 million", Mitchell stated, "it would
have been remitted to the Treasury, which could have used the money to cover
budgetary expenses, so "the U.S. budget deficit was half a billion dollars larger than
it needed to be."
"The most important reason that the Federal Reserve should stop this practice,"
Chairman Mitchell said, "is that it wasted half a billion dollars. Half a billion goes a
long way, an,j it shouldn't be lost gambling in foreign exchange markets. I can
think of lots of ways to spend that money which would be of far greater benefit to
Americans."
Mitchell attributed the loss to the Federal Reserve's efforts to shore up the dollar.
"The Federal Reserve tries to keep the dollar from falling, so it borrows and sells
foreign currencies," Mitchell explained. "This is supposed to increase the demand
for dollars temporarily and shore up the price of the dollar," Mitchell said. "However, even in the short run, such intervention can prove counterproductive by arousing unnecessary fears and speculative selling of the dollar."
According to Mitchell, the effort is not worthwhile. "The dollar was not saved by
the Federal Reserve's intervention in foreign exchange markets last year," Mitchell
said. "What stopped the slide of the dollar last fall was the promise of slower money
growth backed up as it was by an unprecedented one percentage point rise in the
discount rate. I believe that if the Federal Reserve had achieved its money supply
growth targets all along, the dollar would not have needed defending to begin with."
Mitchell stressed that borrowing and selling foreign currencies for dollars cannot
permanently affect the price of the dollar. "All that the Federal Reserve can hope
to accomplish by speculating in foreign exchange markets is to make the dollar
stronger now at the risk at making it weaker later," he said. "It has no enduring
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purpose and should be stopped. We can use the money the Federal Reserve loses on
foreign exchange operations in much more beneficial ways."
Mr. MITCHELL. I just wanted to follow up on Mr. Annunzio's
illustration of the kind of strange behavior that sometimes occurs
within the Federal Reserve.
To return to H.R. 7, the question has been raised, whether we
should allow the Federal Reserve to pay interest on bank reserves
without allowing banks to pay interest on their demand deposit
liabilities. I want to get your thinking on that Mr. Carswell.
Do you think we should provide for Federal Reserve payments of
interest on bank reserves without allowing the banks to pay interest on their demand deposit liabilities?
Mr. CARSWELL. The administration supported last year the NOW
account bill which would permit commercial banks to pay interest
on their demand deposits and coupled that with a proposal to pay
interest on reserves. In other words, it did make the coupling that
you are talking about.
I think we have come to view that the H.R. 7 approach is a
better approach, that those two need not be linked and, indeed, if
we could avoid paying interest, that is, the Fed paying interest on
reserves, that is to the good. It will make the System considerably
more complex and costly to the Treasury and the Federal Government.
I think we would prefer to see that linkage not take place.
On the other hand, we have no problems at all about the NOW
account approach. That is, this administration has supported NOW
accounts, continues to support NOW accounts and if the Congress
is willing to enact nationwide NOW accounts now we would certainly support that.
Mr. MITCHELL. Then the lack of a section in H.R. 7 on paying
interest on demand deposits is only because you want the bill kept
fairly clean, without any entanglements in terms of NOW-type
accounts, correct?
Mr. CARSWELL. That is correct. I don't think there is any necessary linkage here. This problem can be addressed without that
linkage.
Mr. MITCHELL. I too am interested in the cost of implementing
H.R. 7. You have indicated that the low figure now is about $170
million to implement H.R. 7. You have indicated you are putting a
paper together, which I assume you will share with this committee,
regarding ways in which we can reduce the cost of implementation.
I look forward to reading it. At this point, could you give me one or
two general ideas you might have in terms of reducing the cost of
this bill's implementation?
Mr. CARSWELL. As we discussed before, there really are two
approaches. One is to lower the exemption. That is a $50 million
exemption in the bill below which no reserves need be kept. You
could lower that to $45 million, $40 million, whatever a break-even
point would be. Alternatively, one could change the reserve schedule and instead of paying the interest on those reserves at the level
or levels that are now there, they could be raised, so that instead of
the 9 percent now required on transaction accounts, it could go, I
suppose; to 10 percent, and that would make the bill break even.
Mr. MITCHELL. Which of the two options do you prefer?
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Mr. CARSWELL. I think we would prefer lowering the exemption
rather than raising the reserves, the reason being that by raising
the reserve requirement ratio, in fact you make the people who are
in pay more and you add to the favored position of the people who
are out, who have the exemption.
I think that is moving clearly in the wrong direction. I suppose
to the extent it is possible to have every bank competing on an
equal basis, that is the favorable approach.
Mr. MITCHELL. I have no further questions, Mr. Chairman.
Chairman REUSS. Mr. Campbell.
Mr. CAMPBELL. Mr. Carswell, speaking of the $170 million loss,
you have, through the Federal Reserve, proposed a scheme of
charges addressing a number of things but you have not addressed
the charge on check floats and I wonder if you would address this
and give us the benefit of your comments on it?
Mr. CARSWELL. Well, that one area of benefits that the Fed and
others get out of the System, depending on how money flows, I
have never really been clear how one can be sure about the pricing
of flows. The Fed runs studies every now and then and they have
never been too precise in where those benefits lie to the extent that
you can switch the benefits around and allow for delayed payments
and so on. Obviously that is important and it is a necessary component of any pricing schedule that the Fed will later put in for
services. We have just had this problem in our tax and loan accounts where the Treasury has just shifted to a system whereby
the banks now pay us interest on excess funds that we keep in the
banking system.
That hadn't been done until Congress authorized it at the last
session. And the float problem has been very difficult there. We
now have an assumed float in that pricing. I assume for the pricing
of some services, the Fed will have to do the same. I just really
don't know how they intend to do it on different services.
Mr. CAMPBELL. I have seen some figures on this on the float
being approximately $5 billion with about $500 million in an interest level. Is that a figure somewhere in the ballpark of one of your
estimates?
Mr. CARSWELL. I honestly don't know. The use of money today is
probably around 10 percent in Federal funds but in the past it
hasn't been that high. That is why your statistics get difficult.
The cost of a float will vary with the interest rate.
Mr. CAMPBELL. Let me switch to another area. We have talked
basically of H.R. 7. Let us look at a couple of the other proposals
that have come along that have been addressed by other members.
Basically the proposals of permitting banks to invest reserves in
Treasury securities, or the Brooke proposal of a certificate of deposit, some of these types of alternatives that have been suggested, I
would like to know whether the Treasury Department has analyzed these proposals and what your position on them is?
Mr. CARSWELL. As they have been proffered, we have looked at
them.
I don't think we have submitted to this committee or on the
Senate side detailed responses on all the proposals. I think it is fair
to say we think this one is the preferred course because it is far
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37
less complicated, and in the long run far less expensive than any of
the others.
Mr. CAMPBELL. Let us take one of them then. Let us speak of the
Treasury securities. I would like to know what your specific analysis of that one proposal was.
Mr. CARSWELL. That proposal basically is that a member bank
should be allowed to keep its reserve balances in Treasury securities and that it receives the interest on those Treasury securities.
Now, today, those reserve balances are kept in Treasury securities in effect by the Fed, but the Fed gets thf interest so that the
United States gets the interest and the proposal would simply shift
that interest to the banks. That will cost a lot of money. Even if
you do it on a cutdown basis, dollar for dollar, only some percentage of it, but whatever happens, the allowing of the banks to have
the interest from reserve invested in Treasury securities will be
very expensive. It will also complicate the Fed's conduct of monetary policy.
Mr. CAMPBELL. I understand that, but in assuming a payment on
Treasury securities, one has to also assume the required reserve is
in itself a tax, looking at it that way. Would you look at it that
way?
Mr. CARSWELL. I don't think there is any question that in effect
the present system of reserves is the price that banks pay for being
allowed the privilege of being banks.
That is being allowed to use other people's money for their
inventory.
Chairman REuss. Mrs. Spellman.
Mrs. SPELLMAN. Mr. Secretary, if we are for the first time now
going to impose reserve requirements on checking accounts in
thrift institutions, do you think perhaps it would be desirable that
we allow them a large enough exemption to stipulate their innovative approaches into the transactions of business?
As we understand it, $50 million is based on some data of December 1977, virtually exempts all.
Mr. CARSWELL. I suppose that is correct.
I am not sure, Mr. Chairman, whether the staff ever figured
out-there was talk that maybe two of them were affected at the
$50 million level.
Chairman REuss. Two or three, I believe.
Mr. CARSWELL. Maybe a couple who would be affected even at
the $50 million level, but all the rest would not. Hence it would
follow that shifts I suppose in the other institutions from savings
accounts of whatever kind, or certificate of deposit into transaction
balances, wouldn't adversely affect the thrifts because that aggregate amount would still remain below the $50 million level.
Thrifts, on the whole, as everyone on this committee knows, have
not been offering transaction accounts except in New England, so
it is hard to tell how that will proceed across the country, although
the trend certainly seems to be on.
I think the point is, if they do go into the same business that a
commercial bank is in, they probably ought to compete on the
same basis as the commercial banks have to compete.
There isn't any particular reason why at this point we ought to
build in a subsidy for thrift competition in that area with the
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commercial banks, but I think on the whole we would think the
$50 million exemption would have the effect, or whatever exemption you do pick, it could be lower than $50 million, would have the
effect of encouraging the thrifts to go forward with transaction
accounts at least in the beginning without incurring unacceptable
costs.
Chairman REUSS. Mr. AuCoin.
Mr. AuCoIN. Thank you, Mr. Chairman.
Mr. Secretary, I haven't made up my own mind as to what the
best method is of solving the problem. I think we all recognize
what H.R. 7 addresses. I have a number of questions and in the
time I have available I would like to pose a few of them, if I may.
First of all, what is more important in order to give the Fed a
handle over monetary policy it must have? The size of membership
of institutions or the total amount of funds?
Mr. CARSWELL. My personal opinion would be the dollars.
Mr. AuCoIN. It is my understanding that H.R. 7 in fact would
give the Fed fewer dollars, but more participating institutions. Is
that not correct?
Mr. CARSWELL. In a sense that is correct.
Mr. AuCoIN. It is a question of dollars. It is either true or it is
false.
Mr. CARSWELL. It is just a question of who puts the dollars up.
There are a number of banks who have opted out of the Federal
Reserve System that are really very large and should have been in
the System and some of their dollars will be brought back in,
whereas the people who are now in the System, because of the
exemption levels, will not be affected by the-Mr. AuCoIN. What I am talking about are the ground rules H.R.
7 would lay down as to who has to participate and who doesn't.
Isn't it true under H.R. 7 you would have fewer dollars, but a
larger number of participating institutions, isn't that correct?
Mr. CARSWELL. It depends on what you mean by participating. If
you are counting the exemptions-that is the banks that are members, that are required to be in the Federal Reserve System-that
is put up reserves-but are out because of exemptions, then I think
the aggregate number is less under H.R. 7.
Mr. AuCoIN. The aggregate number of what, dollars?
Mr. CARSWELL. Banks that participate in the sense of having to
put up reserves as opposed to being subject to it.
Mr. AuCoIN. Let us talk about dollars held in reserve by however many participating institutions there are. Aren't there fewer
dollars under H.R. 7?
Mr. CARSWELL. Yes.
Mr. AuCoIN. You have just said the most important objective in
terms of managing monetary policy is having a larger number of
dollars to be able to manage. How is this bill a help to the Fed?
Mr. CARSWELL. It will stabilize it.
Mr. AuCoIN. How would it stabilize it if you give them fewer
dollars to manipulate and to manage in affecting monetary policy?
My understanding, going into this, was that this is a tool that must
be used by the Fed to have a sound, stable, effective monetary
policy.
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If you restrict the amount of money they manage, how do you
accomplish that end?
Mr. CARSWELL. I can't deny that I would prefer to have all those
levels up and that is the cost question.
Mr. AuC01N. What good is this bill then?
Mr. CARSWELL. This bill will stabilize-Mr. AuCoIN. How does it stabilize if you are restricting the
amount of funds?
Mr. CARSWELL. From now on it will be required that you be in
the system and those people won't be able to opt out.
Mr. AuCoIN. What good does that do if the actual number of
dollars that are manageable by the Fed is less than it is today?
Mr. CARSWELL. It depends on how you look at it. The number of
dollars that are owned by the banks subject to the system will be
higher but because they are lowering the average reserve requirements, the number that are actually kept by the Fed in the aggregate are lower, but the number of dollars that are available to the
Fed that are trapped in the system is higher and it is that aggregate number that is trapped in the system that the Fed looks at,
and, by raising or lowering the reserves from then on, it just ought
to work better.
The reserve requirements are being brought down now as a price
for getting this new system in. If that isn't necessary, as far as I
am concerned-I have been saying, I guess, to several members
here-those requirements can stay up; that would be acceptable,
but I don't think it is acceptable to a reorganization of the system.
I think you have to bring those reserve requirements down a
little.
Mr. AuCoIN. Then if I understand you correctly-I don't want to
use all my time on this one question because I have another.
If I understand you correctly, somehow fewer dollars held in
reserves by participating institutions-and my time has apparently
expired-fewer dollars held in reserve by the Fed is somehow going
to make it more effective to manage monetary policy.
Let me just ask you one final quick question, with the expiration
ofmy time.
You have indicated three goals. One, the improvement of tools
available to the Fed in the implementation of monetary policy, a
laudable goal, we all agree.
Second, reducing competitive inequities among depository institutions and then, three, of course, the restraining of the negative
impact of any changes on the budget.
That latter point, of course, is price, whatever it is. The price
that has to be paid for the first two objectives.
Am I clear in understanding that it is the position of the administration that those first two objectives, the price of obtaining those
first two objectives, is not worthwhile if it exceeds the $200 million?
Mr. CARSWELL. That is what we would prefer.
Mr. AuCoIN. If any price above $200 million is the result, then as
far as you are concerned, legislation accomplishing those two objectives which you named is not worth it on a cost/benefit basis.
Mr. CARSWELL. That is what I said in my testimony. Obviously it
is up to the President, if the Congress thought it was worth more,
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whether he would think that was worth a veto. I am not saying
that because that is the President's decision but, based on where
we are now, we would not think-Mr. AuCo1N. You are prepared to give the Fed no further tools
and not to address the problem if the price period for addressing
that problem exceeds $200 million?
Mr. CARSWELL. We will assist the Fed in every way we can and
we are willing to see some expenditure of resources in order to
arrest what we think is a deteriorating situation. We think this
level ought to do it.
Mr. AuCo1N. If the Secretary could give me any additional information to clarify your first answer, I would be very grateful for
that information.
Mr. CARSWELL. I would be glad to submit something for the
record, sir.
[In response to the request of Congressman AuCoin for additional
information, Mr. Carswell furnished the following response:]
RESPONSE FROM MR. CARSWELL
The arrangements contemplated by H.R. 7 would assist the conduct of monetary
policy, despite an estimated $12.2 billion reduction in the volume of commercial
bank reserves held at the Federal Reserve, for a number of reasons.
First, they would stabilize the percentage of total deposits subject to reserves at a
minimum of 68 percent of total commercial bank deposits. We estimate that the
Federal Reserve has lost a total of $1.4 billion of reserves over the last five years
due to member bank withdrawals from the System. H.R. 7 would stem this attrition
by establishing universal required reserves for all banks above the $50 million
transaction balance and $50 million time deposit exemption levels. In the absence of
timely action, the loss of reserves will continue, exacerbating the effect of continued
leakage of reservable deposits into exempt institutions.
Second, H.R. 7 would insure that all of the larger banks playing an important role
in the monetary system remain subject to reserves.
Third, the more uniform reserve percentages at which requirements are set in
H.R. 7 should make the Federal Reserve's task of predicting results of open market
operations more certain.
Fourth, the Federal Reserve would be able to raise reserve requirements when
necessary for monetary restraint without the fear that reserve holders would withdraw their funds by surrendering their membership in the System.
Of course, as I indicated in my testimony, we would prefer the broader coverage
of deposits subject to reserves that would result from a lower exemption level and
the elimination of the indexing feature attached to the exemption. The Federal
Reserve's suggestion of paying interest on the exempt amounts and making them
part of the reserve base would have a similar effect.
Chairman REUSS. Ms. Oakar?
Ms. 0AKAR. Thank you, Mr. Chairman.
Mr. Secretary, I would like to know if you would agree that to
implement the bill it would cost about $170 million?
You mentioned that as being the staff's estimate. Does the administration have an estimate?
Mr. CARSWELL. We and the Fed have been trying to put together
a more refined estimate than that. That is a very rough estimate.
Ms. 0AKAR. How rough?
Mr. CARSWELL. Well, it isn't right in any one year because tax
revenues-if this bill gives a bank, as it will give some, added
income, because it doesn't have to put reserves up in the same
amount, that income then will become subject to taxes and the
bank will pay taxes on that average income, but we will get some
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tax recapture, but that won't come in the same year as the reduction in reserves so it complicates the estimating problem.
We are in the process of agreeing or trying to agree with the Fed
on what a more refined estimate for the next 5 years would be.
I have a draft of it here. I am hesitant to submit it today, but we
will submit it for the record and hopefully Chairman Miller will
have it when he testifies here on Wednesday. The numbers are
somewhat lower. A little bit lower on the average though in some
years they might be higher because of the mismatch between the
tax and the reserves.
Ms. 0AKAR. It is clear you don't agree with our estimate.
Mr. CARSWELL. As a ballpark estimate, it is pretty good. However, it isn't right as to any one year but, as an average figure, it is
in the ball park.
[At the request of Ms. Oakar, Mr. Carswell furnished the following response:]
RESPONSE FROM MR. CARSWELL
In response to the Committee's request for the assumptions used in projecting the
net revenue effect of H.R. 7 in the next five years, a statement of the assumptions is
attached to the enclosed Chart I. The chart contains a revised estimate of the
revenues effect in the 1980-84 period from that submitted to the Committee by
Chairman Miller of the Federal Reserve Board during his testimony. A miscalculation was discovered in one of the reserve figures for prior years on which the 198084 projections are based. The new chart contains the revised reserve and related
numbers including those for the net revenue effect.
REVENUE WSS FROM PAST DECLINE IN FEDERAL RESERVE MEMBERSHIP
Chart II shows the net revenue loss from the decline in Federal Reserve membership duting the last five years. It is based on an average annual loss of member
bank deposits during those years.
FEDERAL RESERVE EARNINGS PROJECTION IN THE 1980 BUDGET
Chart III provides the assumptions used in projecting Federal Reserve receipts for
the Administration's 1980 budget. The projections of receipts appear on page 298 of
the "Budget of the United States Government" and are as follows:
Millions
Fiscal year:
1978 (actual) .................................................................................................. .
$6,641
7,600
1979 (estimate) .............................................................................................. .
8,600
1980 (estimate) .............................................................................................. .
9,200
1981 (estimate) .............................................................................................. .
9,700
1982 (estimate) .............................................................................................. .
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Chart I
Estimated Revenue Effects of R.R. 7
Fiscal Years 1980-84
millions
Fiscal Years
1980
1981
1982
1983
1984
Reduction in Federal Reserve earnings due
to reduction in reserve requirements for
member banks, at October 1979 projected
membership levels, phased in over 2 years
beginning October 1979 • . • • • • • • • . • . • • • • • • •
-524
-1,138
-1,234
-1,339
-1,453
Increase in Federal Reser11e earnings from
extension of reserve requirements to
nonmembers, phased in over 4 years
beginning October 1979 • . • • • • • • • • • • • • • • • . •
42
90
146
212
230
Increase in Federal Reserve earnings from
charges for Federal Reserve services,
phased in over 2 years beginning
October 1979 • • • • • • . • • . • . • • • • • • • . • • • • • • . • .
271
535
579
630
682
Net change in Federal Reserve earnings
before tax recovery ••••••••••.••• , • . .
-211
--=m
-509
-=m
-=54I
Income tax offset • • • . • . • . • . .. • • • • • . . • . • • • • • •
67
151
210
221
238
Net revenue effect before offset for
membership attrition under present
Federal Reserve requirements • • • • • • • • •
-144
-362
-299
-276
-303
Offset due to loss in Federal Reserve
earnings caused by membership attrition
under present Federal Reserve requirements
(adjusted for tax offset) • • .. • • • • • .. .. • • •
30
99
163
227
301
Net revenue effect • • • • • • • • • • • • • • • • • • • • •
-114
-263
-136
':49
-~
Office of the Secretary of the Treasury
Office of Tax Analysis
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Federal Reserve Bank of St. Louis
February 27, 1979
43
Assumptions Underlying Revenue Estimates of H.R. 7
1.
Reduction in Federal Reserve earnings due to attrition in
member bank reserves:
(a) between December 1977 and September 1979 member bank
deposit attrition continues at the average of the
nation for the period 1974-77 (i.e., the member bank
share of total commercial bank deposits declines
1.4 percentage points per year);
(b) total commercial bank deposits increase at an average
annual rate of 8.5 percent each year after 1977; and
(c) the average return on the Federal Reserve portfolio
is 6,5 percent per year from October 1979 through
September 1984.
2.
Increase in Federal Reserve earnings from charges for
services:
(a) full charging for Federal Reserve services, if fully
implemented at the end of 1977, would have generated
$410 million; and
(b) Federal Reserve revenue from such charges grows
proportionally to the growth in deposits.
3.
Recovery of the loss of Treasury revenue from the decline
in Federal Reserve earnings:
#
(a) additional commercial bank earnings are taxed at an
average marginal rate of 35 percent;
(b) the lagged additional dividends paid to commercial
bank stockholders from the higher commercial bank
after-tax earnings increases total tax recovery
2-1/2 percentage points per year until the total
tax recovery reaches 45 percent of the additional
commercial bank earnings in four years.
4.
Offset due to loss in Federal Reserve earnings caused by
membership attrition under present Federal Reserve
requirements:
(a) if H.R. 7 is not enacted, the attrition of member
bank deposits after 1979 would accelerate to a rate
midway between that experienced in New England (4.6%)
and that of the nation (1.4%);
'
(b) total commercial bank deposit growth and Federal
Reserve portfolio return are as indicated in
assumption 1; and·
(c) the tax offset to higher earnings of member banks
no longer subject to required reserves is as indicated
in assumption 3.
Office of the Secretary of the Treasury
Office of Tax Analysis
40-915 0 • 79 • 4
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Federal Reserve Bank of St. Louis
February 27, 1979
Chart II
Estimated Revenue Loss from Attrition in Federal Reserve
Membership Since June 1972
Fiscal Years 1973-77
millions
Fiscal Years
1973
Reduction in Federal Reserve earnings
1974
1975
1976
1977
23
34
58
91
-11.
Income tax offset
Net re,·enue loss •••.•••••...••...•..•.•••
Office of the Secretary of the Treasury
Office of Ta~ Analysis
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Federal Reserve Bank of St. Louis
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15
20
34
February 27, 1979
45
Chart III
The estimates of Federal Reserve 'Board earnings for the
Administration's 1980 budget are based on the historical relation,ship between earnings, nominal income levels, and interest rates.
The forecasts for nominal GNP and interest rates are those used
in the budget, as follows:
Nominal GNP($ billions)
Interest rate, 91-day
Treasury bills (percent)
Calendar Years
1982
1983
1980
1981
2,565
2,825
3,090
3,336
3,546
6.6
5,4
4.4
3.7
7.6%
1984
Office ·of the Secretary of the Treasury
Office of Tax Analysis
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Federal Reserve Bank of St. Louis
February 27, 1979
46
Ms. OAKAR. Some assets have higher risks than others. I wonder
if you would comment on section 6, which repeals the requirement
to charge a higher discount rate on risky assets-section 6, which
repeals the requirement to charge a higher discount rate?
Mr. CARSWELL. You mean the abolition of the penalty rate?
Ms. OAKAR. Yes.
Mr. CARSWELL. As we understand it, the Fed doesn't think it is
necessary and I don't think we have any particular view on it.
They are able to police the discount system now without that
penalty rate, I believe. I don't know that I have anything to add to
it.
Ms. OAKAR. You see no problems?
Mr. CARSWELL. I really defer to the Fed on that.
Ms. OAKAR. I guess that is all, Mr. Chairman.
Chairman REuss. Mr. Vento.
Mr. VENTO. Mr. Carswell, I am very pleased to see you here this
morning because the discussion of this has been, I think, always
concentrated on what the banks were going to get in terms of
interest on deposits without an eye on what the relative impact of
the measure might be. At least that is the impression I have gotten
over the past year of listening to some of the discussions.
Mr. CARSWELL. We have been trying to watch it.
Mr. VENTO. What has the revenue loss been perhaps over the
last 5 years? If we have gone from 81 percent of the money subject
to a Federal monetary control, to 72 percent today, this in essence
establishes the floor at 68 percent, which is indexed apparently if it
goes along the lines it did last time. I suggest there has been a
revenue loss over last year in terms of membership and also I get
the impression there is an audience of people, bankers, watching,
patiently staying in the Fed, hoping there would be some either
reduction in terms of the deposits that they have, or some compensating factors that would affect them.
It involves a situation where States have continued to make
chartering with the States much more attractive and continue to
do so much to the loss to the Fed, for instance, in their role of
regulating banks.
I would like to know what the losses are and I am very pleased
that you have suggested there ought to be a close look at the loss of
revenue in terms of looking at the offsetting factors, such as tax
offsets which are in essence making it $172 million as opposed to
$382 million, as well as charging for services.
Many banks will not use those services if they are charged for
them. Some of them are not as competitive and that may pose
some new problems for us to try to address, but we ought to have
an idea what the revenue loss has been.
I think that will help buttress the argument for taking some
action in this area. I think it is very clear that we have to do
something in this vein.
I go along the lines that Congressman Annunzio suggested earlier in terms of this being a much greater loss in terms of what the
impact may very well be, and I think we ought to be very careful
about that particular type of thing.
I really have no questions. This is really more in the line of a
comment.
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Chairman REUSS. Mr. Barnard?
BARNARD. Mr. Carswell, I want to also add my appreciation
for your being here today and commenting on this legislation.
For a number of years many of us have been concerned about
the control of monetary policy and the seeming inadequacies we
have been going through and doing as good a job with it as we
should have.
.
Is it the Treasury's view that this bill will solve this problem to a
significant degree? Is it supporting the legislation because it is just
a hope that it might solve the problem?
Mr. CARSWELL. I think we feel it will solve the problem of the
membership drain and the loss of revenue and the attendant difficulties that the Fed has in calculating the monetary base. It will
solve those problems. There will continue to be problems, obviously, in the conduct of monetary policy because our system is
changing. Our system of monetary policy now is obviously concentrated on bank reserves whereas the money supply includes a good
deal more than that and so I think the Fed will continue to have
estimating problems and so on. It won't solve it all, but it will be a
constructive step toward a better system than we now have and we
would enthusiastically support it as that.
Mr. BARNARD. Do you think some additional measures should be
incorporated in this legislation to hopefully help the Fed in that
regard?
Mr. CARSWELL. I would have to rely on the Fed, whether they are
ready to suggest anything or not. As you know, Senator Proxmire
has suggested a commission to study the money aggregates and
report back, to see whether additional steps should be taken.
I have no problems with this area being studied more. I think, in
terms of specific suggestions, we will complicate this bill significantly if we plunge off into other areas now. This is a relatively
definable problem and I think we think it ought to be addressed
promptly now without complicating it with a number of other
issues.
Mr. BARNARD. The title of the bill is the Monetary Control Act of
1979. It has been changed from the Federal Reserve Act Amendmeilts of 1978, so it looks to me as if the Treasury and the Fed and
others interested in monetary control would have some other provisions that they could add that would help us in this, that we ought
to get them in this bill along with the membership.
This may be a repetitious question, but how do you feel about the
Fed's position on paying interest on reserves? Did you answer that
previously?
Mr. CARSWELL. Indirectly, but not directly.
Mr. BARNARD. Well, let me ask you that question.
Mr. CARSWELL. Do you mean the legislation they have written?
Mr. BARNARD. I haven't seen the latest letter, but I refer to their
position not to have an exemption on reserves, but that they would
pay interest on reserves.
Chairman REUSS. If the gentleman would yield.
I was the recipient of a copy of this recent letter by Chairman
Miller of the Fed. What the Fed would like to see is this bill
amended so that on deposits in the two categories below $50 million the Fed would have the right to compel reserves on amounts
Mr.
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Federal Reserve Bank of St. Louis
between $10 million and $50 million-under $10 million would
remain free-and on that $10 million to $50 million pay a rate of
interest equal to the rate of return on it.
Mr. CARSWELL. I think we are neutral. It has pluses and minuses.
As the Chairman points out in his letter, this will bring more
money-this addresses in a sense what Mr. AuCoin talked aboutit will bring more money directly under their control, and in that
sense will increase their ability to deal with the monetary base; it
will be there; it won't vary by going to other nonmember banks;
and that will be helpful.
On the other hand, it does bring back into the plan this business
of paying interest on reserves, and I think that in the long term
could expand; and it is a precedent that we are not all that enthusiastic about.
There are monetary reasons for having those dollars on deposit
at the Fed, and it would make the new system a little bit more
effective, and hence that is a real plus.
Mr. BARNARD. Do you think that has a great impact on monetary
control though?
Mr. CARSWELL. I really would prefer you ask Chairman Miller
that. I have talked to him briefly about it, but only briefly. I have
read their letter and our people have studied it, and I think we
come out that it would have some marginal plus, but whether it
would be the make or break of their bill, I think nobody would
testify.
Chairman REUSS. :Mr. Watkins?
Mr. WATKINS. Mr. Carswell, welcome back. Would you please
send the document Mr. AuCoin asked for to me? I am trying to
find an answer to that particular question also.
Probably the most frequently expressed concern raised by a lot of
people is the jeopardy this places upon the dual banking system.
What is your answer to that?
Mr. CARSWELL. I think our view is that logically it ought not
place the dual banking system in jeopardy. The dual banking
system has been thriving now for more than 100 years, and this
bill does not directly impact that; it makes it neutral as to whether
or not one has to assume the burdens of membership in the Federal Reserve System. It doesn't penalize one for being a State bank,
as opposed to a national bank, and in that sense it is neutral.
To the extent that may lead some banks to feel the benefit of a
State charter is no longer quite as attractive as it was before, I
guess it could weaken it, but we would not on balance think that
our system-that is the problem of the Fed Reserve membershipought to continue to be skewered by this business of making it
more attractive not to be a member of the Fed than to be a
member. That is the difficulty today. That is why people are
moving out of the Fed and are becoming members of State banks.
Mr. WATKINS. I don't know if that will help me or not, but it is
very difficult, as a question, to try to satisfy a lot of people on,
regarding financial institutions.
·
Perhaps something I am also pushing for is to try to find some
concrete reasoning.
Mr. Chairman, I have no other questions at this time.
Chairman REUSS. Mr. Lowry.
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Mr. LowRY. I have no questions.
Chairman REUSS. I was very much interested in the point raised
by Mr. AuCoin and Mr. Watkins. As Deputy Secretary of the
Treasury, you are concerned with our income tax system.
Has anybody suggested this, to your knowledge, that our income
tax system should be amended so that anybody who didn't want to
pay his income tax could simply file a statement with the Treasury
and thus legally avoid paying an income tax?
Mr. CARSWELL. I don't think that seriously has been suggested.
Mr. LowRY. If I may just ask the next question-I saw in your
statement-referring to the rationale behind reserve requirements-and I am quoting: "Reserve requirements should be regarded as a price and a necessary component of participation in the
monetary system." That is very much like a tax, is it not?
Mr. CARSWELL. Yes, sir.
Chairman REuss. Does it make any more sense than to say that
banks that prefer not to pay this fee for taking part in our monetary system can by their own action exempt themselves, than to
say taxpayers who don't like the income tax can opt out if they
don't like it?
Mr. CARSWELL. I think logically it does not. That is .one of the
reasons why we are for this approach.
Chairman REuss. I feel a little unhappy, because I guess my
explanation of H.R. 7 wasn't fully adequate.
Let me again state what H.R. 7 tries to do and to see whether
you agree with the statement.
It is true that H.R. 7, in order to make the burden of holding
reserves less onerous on banks, lowers reserve requirements, but it
is also true that H.R. 7 makes them more nearly uniform; and,
second, by applying to all banks, State and national, H.R. 7 would
make the new structure of reserve requirements such as to arrest
the erosion of deposit coverage which" is now occurring. That is my
rationale for the bill, namely, get rid of the ability of individual
banks to sabotage the monetary system by opting out from under
it, but at the same time make the burdens of being a good fellow
less onerous-that is my idea of what it does. Does the Treasury
have a different view of it?
Mr. CARSWELL. I think that summarizes it accurately.
Chairman REUSS. It is a fact, is it not, that after the introduction
of this bill, it has been said, in effect, that Congress under H.R. 7
doesn't allow any easy riders here, that from now on people who
take part in the monetary system must pay the necessary price.
It is a fact that the mere introduction of that bill last August has
not arrested the erosion, is it not?
Mr. CARSWELL. Someone pointed out there apparently are some
banks who have not withdrawn from the Federal Reserve System
pending the outcome of your committee's or the Congress action in
this area, but some have.
If the committee doesn't act, I don't think there is any real doubt
that the outmigration will commence again.
Chairman REUSS. My figures are-even with pendency of this
legislation-since last August, 39 banks have opted out of the
System, to wit: 10 in August, 10 in September, 7 in October, 4 in
November, and 8 in December.
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Are those figures accurate, as far as you know?
Mr. CARSWELL. As far as I know, they are, but I think they would
be higher but for the pendency of the bill.
Chairman REUSS. On the question that you raised-and I think it
is a reasonable point-that this country and this Congress and this
administration can do what it can to bring budget deficits under
control-to narrow and ultimately to eliminate them-I now can
refer, it being after 10 o'clock, to the budget, and particularly to
pages 24 and 63 thereof, which pages-specifically page 24-show
that it is the intention of the administration to get out of a budget
deficit position in fiscal year 1982.
Then, on page 63, it shows that the earnings of the Federal
Reserve, which are turned over to the Treasury, are $6.6 billion in
1978-that is actual-and then estimated gross deposits into the
Treasury of-or estimated earnings-of $7.6 billion in 1979, $8.6
billion in 1980, $9.2 billion in 1981 and $9.7 billion in 1982.
If we allow erosion from the Federal Reserve to go on, or if we
enact legislation which substantially diminishes the return the
Federal Reserve realizes, we are going to knock into a cocked hat
that orderly progression toward getting this country out of a
budget deficit position and into the black ink, are we not?
Mr. CARSWELL. Yes, those are receipts to the Federal Treasury,
just as are taxes, and if that progression is disturbed, obviously it
will adversely affect the balance of the budget in the years ahead.
Mr. WYLIE. Will the gentleman yield at that point?
Chairman REUSS. Yes.
Mr. WYLIE. Thank you.
I apologize for being late-but on page 4 of your testimony you
say that you understand that the net cost of fully implementing
H.R. 7 would be approximately $170 million. Is there any line item
cost for out-Fed membership in the budget?
Mr. CARSWELL. In this bill?
Mr. WYLIE. Yes.
Mr. CARSWELL. There is none.
Mr. WYLIE. If we passed this bill, according to your testimony,
this would be an additional cost?
Mr. CARSWELL. There is a line item for contingencies and 0MB
has decided this would be one of the items it would be appropriate
to handle in that contingent figure, the reason being that that $170
million is not an accurate figure for 1980, or indeed for any year; it
is a ballpark average of what the cost would be for some years,
average cost. The 1980 figure-because of the phaseins-in all likelihood, no matter how it works, will be significantly lower than
that, and whatever that number is, would be appropriate to come
out of the contingent line in the document that the chairman has.
Mr. WYLIE. Do you know offhand how much that contingent line
is?
Mr. CARSWELL. No, I don't. We went round and round with them
as to how they should handle this, and this was their conclusion; so
it isn't something that we didn't think about; that was the way it is
handled in the budget document.
Mr. WYLIE. Thank you, Mr. Chairman.
Chairman REUSS. Reclaiming my time, briefly, if the Congress
refuses-in my judgment, this would be irresponsible, but someday
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Congress could commit an irresponsible act-if Congress refuses to
act on legislation to prevent erosion of the monetary power of this
country, the fact is, is it not, that the projected budget deficit in
years and years to come would be enlarged by a sum much greater
than the $170 million which is our current best estimate of the cost
of this bill due to erosion?
Mr. CARSWELL. That is unquestionably true. If erosion does continue, if we should get-as some people have forecast-as much as
20 percent erosion over the next 5 years in the Federal Reserve
System, that would be very expensive for the U.S. Treasury. It
would also significantly complicate the condition of monetary
policy and errors in monetary policy. Because the tools don't work
the way they are supposed to work, it can also be very expensive; it
can lead to consequences that are unintended but in the long run
are very expensive in terms of production loss in recessions that
need not have happened.
Chairman REUSS. So if the Congress wants to encourage inflation
and assure the continuation of a budget deficit, what Congress
should do is do nothing; is that a fair statement?
Mr. CARSWELL. I think that would be the way to proceed, rather
than to be constructive, yes.
Chairman REUSS. Mr. AuCoin?
Mr. AuCoIN. Mr. Chairman, not wanting to increase the size of
the deficit or to increase inflation, I do want to ask a couple of
additional questions that really bear on the subject of revenue.
Again, I am openminded to this approach and other possible approaches to solve the problem. I think there are other approaches.
The Fed originally had other ideas and there may be others, but
it seems to me from the questioning so far that this whole question
of revenue and deficits and so forth are paramount in members'
minds. I think it is worth exploring that aspect of this legislation
or any other legislation.
I think, Mr. Secretary, you would agree that the purpose of the
Federal Reserve requirements is exclusively to give the Fed the
ability to manage a sound monetary policy, and if that is so, it
would seem to me that any revenue that is gained as a corollary, is
a happening that takes place as a result of its initial purpose, that
is, to have the reserves there to help give the Fed that tool on the
monetary fund.
Would you agree or disagree with the statement?
Mr. CARSWELL. Frankly, I haven't read the legislative history of
the original Federal Reserve Act. I would assume that you are
right, that when that act was passed there was no intention by
those who enacted it that the Fed would make a lot of money for
the U.S. Treasury, rather, that it was to conduct monetary policy
and that the reserve system was part of that intention, and I think
probably that continued as amendments were made, to make
that-Mr. ST GERMAIN. Will the gentleman yield?
Mr. AuCoIN. Yes.
Mr. ST GERMAIN. Since Senator Aldridge from Rhode Island was
the gentleman who was intimately involved in the formulation of
the Fed originally, the original purpose of the Fed was to see to it
that money was provided to country banks in harvest time and at
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planting time so they could fulfill the needs of their constituencies
and see to it that we would have a strong agricultural economy.
That is what really put that Fed bill through, as I read the history
of the Fed.
Mr. CARSWELL. I read part of it; I cannot remember anything
specifically on this point.
Mr. AuCOIN. Let me reclaim my time long enough to suggest to
you that-forgetting the history of it, whatever the history may
be-is it not true the essential purpose of giving the Fed the power
for it to have reserve requirements is to give it a tool to manage a
sound monetary policy, and whether on the fiscal side or revenue
side is a secondary factor, it is important but it is secondary to the
initial purpose of the reserve requirement, is it not?
Mr. CARSWELL. I have to agree that the primary purpose is clear.
It was to get a firm monetary policy.
As the chairman just pointed out, $6.6 billion worth of revenue
is, I am afraid, no longer a secondary consideration; it is very
important to the U.S. Budget balance.
Mr. AuCo1N. This is not a revenue-raising piece of legislation; it
is a piece of legislation designed to give the Fed the ability to run a
sound monetary policy?
Mr. CARSWELL. H.R. 7, that is right.
Mr. AuCo1N. The fundamental purposes we are dealing with
here are tools for the Fed to run that monetary policy. The revenue is important but it is a secondary consideration; would you
agree with that?
Mr. CARSWELL. It is secondary, in the sense that we want to solve
the monetary problem; but we don't want to lose a significant
amount of revenue in the process.
Mr. AuCo1N. Let me ask you about that revenue. Is it the position of the Treasury that those reserves are possessed by the Treasury, or by the Fed, or owned? In other words, are they the Fed's
moneys or someone else's moneys that the Fed manages in order to
accomplish its purposes and its mandate of running a monetary
policy?
Mr. CARSWELL. They are moneys of the members of the Federal
Reserve System that are kept on deposit at the Fed.
Mr. AuCo1N. If the position of the Treasury is that support of
such proposals as NOW account legislation and payment of interest
on those kinds of accounts, why doesn't it make sense then to
provide payment of interest on those reserves that do belong to the
member institutions?
Mr. CARSWELL. That was the approach that Chairman Burns
pursued, as you know, last year.
Mr. AuCo1N. I am just saying, if the principle is there, why
doesn't the principle apply here?
Mr. CARSWELL. I think it is a logical approach to the subject.
I do think there is another theme that runs through, now, at
least, the required reserves, and that is that the business of banking has elements of privilege to it. That is recognized around the
world. It is not a business that is OJ!8n to entry for everyone. It
does involve the use of other people s money, and that is a privilege, and most governments around the world, one way or another,
have required those who have that privilege to pay a price for it.
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Mr. AuCo1N. Why should there be an exemption for institutions
who enjoy that privilege, who happen to have deposits of less than
$50 million?
Mr. CARSWELL. In theory, as I said to the chairman, there should
not be.
Because of our philosophy about small banks and the difficulties
they may have in competing with those who have the advantages
of size, we are prepared to modify that principle. But if you want to
be geometric about it, I would suppose there is no difference, there
shouldn't be any difference.
Mr. AuCoIN. I have no further questions.
Chairman REUSS. Mr. Wylie?
Mr. WYLIE. Thank you, Mr. Chairman.
I wanted to follow up on an observation you made there as you
were closing a little while ago. Last year we were told-I think this
is fair-by the Chairman of the Federal Reserve Board that the
real importance of a bill like H.R. 7, or the one which was reported
out of this full committee last year, is to somehow stop the decline
in Fed membership so that the Federal Reserve Board could more
efficiently conduct monetary policy.
Is that a fair appraisal of the primary importance of this-Mr. CARSWELL. That is the theory and general intent, yes.
Mr. WYLIE. Mr. Reuss, the chairman, made the observation a
little while ago that we are all interested-and I think Mr. AuCoin
followed up on this-in balancing the budget, stopping deficit
spending, and carrying the analogy a little further about the decline of Fed membership, and the loss in revenues, and the loss of
money to the Federal Treasury, we have another reason for stopping the decline in Fed membership, and that is the loss of tax
revenues.
Mr. CARSWELL. That is correct.
Mr. WYLIE. Or revenues.
Now, could we not satisfy that from a philosophical standpoint,
could we not satisfy that requirement by not requiring Fed membership of anyone since it is unfair for some, since they are in the
Federal Reserve System and have to pay a tax in effect, and the
others get off scot free and get a lot of free services? By just saying
we would not require Fed membership of anyone but we will
impose a tax on the departments of all the financial institutions
equally across the board and make up the difference?
Mr. CARSWELL. I suppose in theory one could.
Mr. WYLIE. But you would not suggest that?
Mr. CARSWELL. I would not. We have a system now that has
worked reasonably well, and I hate to tear up that system and try
a new system, the outcome of which we are not clear about, because what that would mean is that the Fed-to follow the theory
through-that would mean the Fed would conduct monetary policy
without any required reserve base. And while theoretically that
may be possible-and some have testified to this committee that it
would be possible-I would suggest that that involves risk that
there is no particular reason to take.
Mr. WYLIE. That comes precisely to my next point. There have
been those who testified before this committee that really all we
need is section 2 of the bill, that if we have a reporting require
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ment to the Fed, that you can still conduct monetary policy without membership, but you do not think that is possible.
Mr. CARSWELL. I did not say-I said in theory that may be
possible. I really do not have any personal opinion as to whether it
really would. I do think that there is no reason to make that jump
and introduce the uncertainties that are involved in that conclusion to a system which is already working with some difficulty. In
other words, you are plunging into an unknown for reasons which
are not particularly persuasive to me.
Mr. WYLIE. Would you impose reserve requirements on certificates of deposit and repurchase agreements, those sorts of instruments?
Mr. CARSWELL. That is a complex question and I really do not
feel qualified to answer that yes or no now. We have been looking
at that, the Fed has been looking at it for some time, as you know,
and it is a difficult problem. I am not prepared to give you a
recommendation on that now. I think in the future we may.
Mr. WYLIE. Did you say early on whether you are in favor of
H.R. 7 in its present form?
Mr. CARSWELL. Yes, with two qualifications: One on the review
side and one on the indexing; but otherwise, yes.
Mr. WYLIE. Thank you very much.
Thank you, Mr. Chairman.
Chairman REUSS. I thank the gentleman. As one of the authors
of H.R. 7, I would want to make something moderately clear: The
purpose of H.R. 7, in my mind, is not to maintain membership in
the Fed. The bill does nothing, for instance, to compel a State bank
to become or not to become a member. The purpose of H.R. 7 is to
insure adequate monetary control by making those who take part
in the Nation's monetary system, whether they be banks or credit
unions, savings and loans, or mutual savings banks, contribute to
that monetary control by being amenable, with certain exemptions,
to boosting reserves.
Indeed, if somebody at some future time wanted to make membership in the Federal Reserve voluntary not only for State banks
as it is now, but for national banks, I, speaking for myself, would
not necessarily be horrified and oppose it, because I do not think
the important thing is the size of the Federal Reserve's organization, but the surefootedness of the Fed's ability to control the
Nation's monetary supply.
Obviously, as who knows better than yourselves, who have
watched this very closely in recent years, the Fed's control has not
been as surefooted as one would like to have had it, and in my
judgment the optional character of reserves has been one of the
reasons why it has not been. And we hope in as unabrasive a way
as possible to make that control surer. But I would emphasize that
the purpose of H.R. 7 is not to compel people who do not want to
join the Fed, to join it, because I believe that should remain a
voluntary system.
Mr. WYLIE. Would the gentleman yield?
Chairman REuss. Yes.
Mr. WYLIE. I think that a very appropriate observation. And I
would ask, has the Treasury Department prepared any sort of an
analysis-and I expect that your answer might be no-on how this
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might impact on individual State economies? Part of the reason for
my question there is that the State bank supervisor feels it very
important that State banks not be required to join the Fed at any
time, and your bill does not require anyone to join the Fed at any
time, but does this not maintain a kind of a giant loophole through
which banks can say, "We don't want to become Fed members"?
And maybe in some cases they would prefer to be members of
the State system. And in many cases, large State nonmember
banks are not members of the Fed, which has an impact on your
conduct of monetary policy, if you follow through logically with
what you say that Fed membership is pretty important to the
conduct of monetary policy.
Mr. CARSWELL. No, I agree with the chairman that the-the
chairman of this committee, not the Chairman of the Fed-that the
membership issue is not the iseue. The issue is that the deposit
balances are part of the Fed's universe for conducting monetary
policy. And whether you are a member of the Fed when you are
required to put up reserves on your deposits is not the issue, it is
that you are required.
Chairman REUSS. I will recognize the gentleman Mr. Ritter in
just a second. I did, however, want to ask one question related to
Mr. Wylie's question. At the same time from the human stand:
point, you can understand, can you not, as I do, that the State
bank regulators' noses are somewhat out of joint at any measure
which enunciates the national interest in banking, because to the
extent that R.R. 7 would reduce the number of national banks who
opt to reorganize as State banks and then resign from the Fed, the
effect of the bill would be to diminish the future empire of the
State banking regulators. Therefore, one could not expect them to
be enthusiastic about this, unless they were philosopher kings who
looked at the national interest more than their own empires and
that is, in public life, a rare phenomenon.
Would you not agree that if you were a State bank regulator you
might be casting around for reasons to oppose this bill?
Mr. CARSWELL. Well, my empire was increased, as you pointed
out, in the last 3 months by some 40 banks, probably, people who
left the Fed System.
Chairman REUSS. Thank you. Mr. Ritter.
Mr. RITTER. Yes, thank you, Mr. Chairman.
Being somewhat new to this committee, I guess the next question
qualifies as educational. Mr. Carswell, you have made a strong case
for the erosion of Fed revenues with the continued erosion of
membership. But in the last 10 years, 452 banks have left the
Federal Reserve System, by your own account, and 39 withdrawals
have occurred recently and yet the collections of revenue are $6.6
billion in this past fiscal year. One wonders, just from an educational point of view, whether the erosion of membership caused an
erosion of revenues, and one also wonders whether the projections
for the upcoming years of $7.6 billion up to $9.7 billion in 1982-do
those figures take into account current rates of membership erosion? I am trying to get a handle on what the revenue situation is
like with respect to the membership situation.
Mr. CARSWELL. Federal revenue is affected by a number of different factors. I suppose the largest single factor that affects Fed
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revenue is the level of interest rates. You have heard Congressman
Mitchell point out that the Fed might sustain foreign exchange
losses. That affects revenue too. There are a number of things that
have happened to the Fed through the years that affect revenues.
Mr. RITTER. You have made mention that you would fear the loss
of Fed revenues because of erosion of Fed membership?
Mr. CARSWELL. Yes. The erosion of membership has unquestionably meant that the Fed-which last year earned $6.6 billionwould have earned more, had the people who opted out remained
in the System. I suppose we can go back and do the calculation of
how much more the Fed would have earned in 1978, were the 452
or 92, whatever it is that have left the System in the last 10 years,
were they still in it.
That calculation can be made. If you like, we can make that. I
cannot answer your second question, which is, what assumption
the revenue estimators made at 0MB in order to get that $7.7
billion for next year or 2 years from now. I just do not know. I can
find that out for you and submit it for the record, but I do not
happen to know that.
[In response to the question of Mr. Ritter, see Mr. Carswell's
previous response to Ms. Oakar's question.]
Mr. RITTER. A-s the gentleman from Oregon pointed out, it is a
real side benefit, this revenue collection, as far as the duties and
the responsibilities of the Federal Reserve are concerned; this is a
"plumb" into the Federal Treasury, the way it sounds.
Mr. CARSWELL. It is a direct benefit, I do not even regard it as
side any more; those amounts are very significant now to the
revenue side of our budget.
Mr. RITTER. But not related to the original responsibilities of the
Federal Reserve?
Mr. CARSWELL. I hesitated a little bit on that because I am just
not sure. I have not read the legislative history closely enough to
be sure of that, whether anybody thought of that at the time. It
certainly was not the primary reason. I think that is clear.
Mr. RITTER. Thank you, Mr. Carswell.
Chairman REUSS. Are there further questions?
We want to give everyone a full opportunity. Any further questioners?
[No response.]
Chairman REUSS. If not, thank you, Secretary Carswell, for a
very helpful, responsive and full discourse with us this morning.
We will now stand in adjournment until 9 o'clock this Wednesday
morning at this place, when we will hear from Chairman Miller of
the Federal Reserve.
The testimony of Mr. McKinney of the Federal Home Loan Bank
Board which was scheduled for tomorrow will not be heard because
Mr. McKinney has elected to write the committee a letter containing his testimony, and if it should become necessary to hear him
later on, that will be done.
[The letter follows:]
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Federal Reserve Bank of St. Louis
57
1700 G Sue el, N.W.
Washington, D.C. 20552
II~ 11 ,. , ,.,
.
Federal Home Loan Bank Board
-
Homo Loan Bank Sy>tem
Federal Home loan Mortgage Corporation
Federal Savings and loan Insurance Corporation
ROBERT H, McKINNEY
Chairman
January 23, 1979
The Honorable Henry s. Reuss
Chairman
Committee on Ba·nking, Finance
and Urban Affairs
U.S. House of Representatives
Washington, D.C. 20515
Dear Mr. Chairman:
I appreciate your request for our comments on H.R. 7, the_ Monetary
Control Act of 1979. This is designed to deal with the problem
of the erosion of membership in the Federal Reserve System
and the resulting reduced number of depository institutions that
are subject to reserve requirements, The Federal Reserve System
has expressed repeated concern that this could decrease the
effectiveness of monetary policy in promoting general economic
stability, reducing inflationary pressu·res, and dealing with the
problem of the U.S. dollar in world markets. We agree that, if
reserve requirements are considered mandatory to the. effective
implementation of monetary policy, then it is essential to have
a solution to the problem of the diminishing number of depository
institutions subject to reserve requirements. We therefore
support the efforts of Congress and the Federal Reserve Board
to deal with this critical issue.
The Bank Board is aware that there are a number of alternative
app_roaches to dealing with this problem.
H.R.7 would effectively impose reserve·requirements only upon
large depository institutions and not pay interest on such required
reserves. It would do this by requiring reserves only against
transaction·accounts of over $50 million and then index this
exemption so that it would rise gradually through time. This
bill would still cover the bulk of transaction accounts although
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Federal Reserve Bank of St. Louis
not quite the same percentage that the Federal Reserve System
would prefer. Nonetheless, H.R. 7 would deal with the erosion
of depository institutions from reserve requirements by making
such requirements compulsory for all depository institutions
with respect to their transaction accounts above the exemption
level. This bill would also prescribe reserve requirements upon
three other categories of accounts, namely short-term time deposits,
tot,l savings deposits other than those deemed to be transaction
acccunts, and total time deposits with initial maturities of
not less than 180 days. Since reserve requirements on these
accounts would be imposed only upon commercial banks, the Bank
Board has no comments upon this provision of the bill.
The Bank Board supports any approach that would deal effectively
with the declining proportion of transaction accounts subject
to reserve requirements by the Federal Reserve Board. We agree
that H.R. 7 is certainly one such effective approach since reserve
requirements would not be contingent upon voluntary membership
in .. the Federal Reserve System. H.R. 7 would ensure that a reasonable proportion of transaction accounts at depository institutions
would remain subject to reserve requirements, although it would
do so without permitting the payment of interest on reserves.
No savings and loan associations would be subject to reserve
requirements in the foreseeable future, under provisions of the
bill. If NOW accounts are permitted on a nationwide/basis for
S&Ls, a provision which we strongly endorse and one which we believe
should be added to this bill, some S&Ls would soon becode subject
to reserve requirements.
·
Data which we have seen indicate that a number of mutual savings
banks could well become subject to reserve requirements even
with a $50 million exemption, although such reserve requirements
might be met for a number of years through vault cash rather
than through reserves held at Federal Reserve banks. To
summarize, H.R. 7 would exempt the bulk of commercial banks and
even a higher percentage of thrift institutions from reserve
requirements but would, nonetheless, make a fairly high percentage
of transaction accounts subject to reserve requirements by
virtue of including the large depository institutions that hold
the bulk of accounts. We could support these provisions.
In commenting on this bill, we are mindful that it carries
with it a major structural change by establishing authority
to impose reserve requirements against thrift institution
deposits. Although the exemption levels in H.R. 7 are high and
are indexed, political reality indicates that, once the
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59
principle of reserve requirements against thrift institution
deposits is implemented, it is always possible that the exemption level or the indexing of this exemption could be
altered so that more thrift institutions are affected. The
Bank Board recognizes th-is fact of life because of the important
need of having an effective monetary policy and reserves judgement
on any such possibilities until such time as they come under
consideration.
~pecific Comments on H.R. 7
Qefinition of Transaction Accounts
The significance of this bill depends upon the definition
of transaction accounts. The bill defines such accounts as
"the. total amount of demand deposits, savings· subject to automatic
transfers, and deposits subject to negotiable or other payment
order withdrawal, or to any similar inst.rument used to make
payment or transfers." There is soine ambiguity to the phrase
"any similar instrument used to make payment or tra11sfers."
Since the interpre·tation of this might have an important impact
on the measurement of transaction accounts subject to reserve
requirements, it is imperative that. the Bank Board have a more
defined role in the definition of transaction accounts -rather
than merely being consulted by the Federal Reserve Board.
Reserve Levels
With respect to reserve requirements on transaction accounts
in excess of the exemption, these would be set within the narrow
range of 8 to 10 percent a·s prescribed by the Federal Reserve
Board, except under certain extraordinary circumstances. The
range of 8 to 10 percent would generally be below reserve
requirements presently required on chec~ing accounts but would
be above that required for ijOW accounts. It appears to us that
this range of reserve requirements has been set more with
respect to the imp 9 ct on commercial bank profits and Federal
Reserve earnings returned to the Treasury Department than from
the point of view of carrying out an effective mo.netary policy.
No compelling argument has been made with respect to what is
a desirable level of reserve requirements. The argument has
been made that, if reserve requirements are too low, unintended
variations in reserves could lead to unintended fluctuations
in monetary aggregates and, hence, produce less effective
control ·of monetary aggregates by the Federal Reserve
System. It is not clear, however, why a reserve requirement
under 8 percent might still not be adequate. The Bank
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Board also believes that if and when savings and loan associations become subject to reserve requirements, the Bank
Board should at least have a consultative role with respect to the
proper level of reserve requirements. The Bank Board would
also take this position with respect to mutual savings banks·
that are members of the Federal Home Loan Bank System and/or
are federally chartered.
Dee.2 2 .!.!.2D!: Institution Access
H.R. 7 would permit any depository institution holding transaction balances, regardless of whether or not there are
reserve. requirements, to the same discount and borrowing privileges
from the Federal Reserve as member banks. If thrift institutions
are subject to reserve requirements, we can understand the need
for direct access to the discount window of the Federal Reserve
System in order to meet temporary reserve deficiencies. However,
if the level of transaction accounts is not high enough to
br iJlg in to play reserve requirements, the discount mechard.;;m
provides a partial duplication with the Bank System advances
mechanism. The advances mechanism is much broader and can provide·
both the types of borrowings that would be permissible under
the Federal Reserve discount window as well as longer-term
borrowings. We do not see any compelling need for this particular
duplication.
Fees for Services
H.R. 7 also requires that the Federal Reserve System shall have
a schedule of fees for its services. Such services are to be
available to non-members at the same price applicable to
member banks. Prices are to reflect all direct and indirect
costs incurred in providing the service.s priced, including
an allocation of imputed costs that takes into account taxes
that would have been paid and the return on capital that
would have been provided had the services been furnished
by a private business firm. However, the Federal Reserve
Board could disregard this latter condition if"it determines
that the public interest requires a departure from it, after
giving due regard to competitive factors and the provision
of an adequate level of services nationwide. The Bank Board
supports the market pricing principles but is concerned that
this particular provision might constitute a significant loophole.
While the Federal Reserve Board should have some latitude
in special cases in departing from t~is pricing principle,
the latitude should be carefully considered.
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Access to Services
The Bank Board would like to note also the fact that the-re
is some ambiguity as to whether H.R. 7 allows direct access by
thrift institutions to Federal Reserve bank services. It appears
that the intention of H.R. 7 is to permit such direct access
but, as a technical matter, we suggest that amendments to Sections
13 and 16 of the Federal Reserve Act be added to H.R. 7 to clarify
this access.
In conclusion, while there are a number of relatively important
considerations of a technical nature which we have raised herein
and about wh{ch we have specific concerns, on the whole we
support the primary objectives of H.R. 7. In addition, we favor
a solution that has the minimum negative impact o_n the Federal
Budget during this critical fiscal period.
I __have stated to you earlier, I would appreciate the opportunity
to offer further comment on this bill·after I have had the chance
to study the position of the Federal Reserve Board, the Administration,
and of other affected parties.
·
As
~
Chairman
Chairman REuss. See you at 9 o'clock Wednesday morning, and
we now stand in adjournment.
[Whereupon, at 11:45 a.m.,_ the committee adjourned, to reconvene at 9 a.m., Wednesday, January 24, 1979.]
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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
MONETARY CONTROL
WEDNESDAY, JANUARY 24, 1978
HOUSE OF REPRESENTATIVES,
CoMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS,
Washington, D.C.
The committee met, pursuant to notice, at 2:30 p.m., in room
2128, Rayburn House Office Building, Hon. Henry S. Reuss (chairman) presiding.
Present: Representatives Reuss, Ashley, St Germain, Gonzalez,
Hanley, Blanchard, Spellman, AuCoin, D'Amours, Evans of Indiana, Lundine, Cavanaugh, Oakar, Barnard, Watkins, Lowry, Stanton, Wylie,· Hyde, Leach, Evans of Delaware, Green, Paul, Bethune,
Campbell, Ritter, and Hinson.
Chairman REUSS. The House Committee on Banking, Finance
and Urban Affairs will be in order for its continued hearings on
H.R. 7, the Monetary Control Act of 1979.
We are most pleased to welcome the Chairman of the Federal
Reserve Board, G. William Miller, to the continuation of our hearings on H.R. 7, the Monetary Control Act of 1979.
On Monday, we heard Deputy Secretary of the Treasury, Robert
Carswell, who testified that the Treasury fully supports H.R. 7,
except that it would prefer to reduce the size of the $50 million
exemptions as a way of reducing the loss to the Treasury, and it
would like to eliminate the indexing provision which is designed to
assure that banks exempted from reserve requirements under our
bill will continue to remain exempt in future years.
Now, Chairman Miller, we are pleased to hear from you. We
appreciate that you made available to us· yesterday the statement
you will offer today, with attachments. Under the rule and without
qbjection, they will be admitted into the record and you may now
proceed in your own way.
Mr. STANTON. I have no opening statement but I do have quite a
bit of comment on this legislation. I wonder if I can get an additional 5 minutes when the time comes around?
Chairman REUSS. You may have it.
STATEMENT OF HON. G. WILLIAM MILLER, CHAIRMAN, BOARD
OF GOVERNORS, FEDERAL RESERVE SYSTEM
Mr. MILLER. Mr. Chairman, I would like to thank you for your
welcome. I am particularly pleased to be starting this second year
of my stewardship at the Federal Reserve. It is not quite 12 months
that I have been in office, but I feel last year was an active year in
working with this committee, and I am looking forward to working
with you and the members of this committee in the 96th Congress.
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I do welcome the new members of the committee. My hope is
that they will, among their duties, find that their interface with
the Federal Reserve proves us to be responsive to their concerns
and interests. We look forward to being available to assist them in
becoming acquainted with the issues they consider to be important.
We are discussing today landmark legislation. It is legislation
that addresses issues as important to the financial system of this
Nation as any we have seen since the thirties. The issues relate to
change-changes in our society and in our financial structure. We
are dealing with many changes: Demographic, social, the shift from
a rural to an urban society, technological revolution-all of which
indicate evolution in the way in which we do business and handle
our affairs, including our financial affairs.
With this changing world comes the question of how we can
assure that we have an effective and efficient monetary system,
responsive to the needs of the future, and not merely an antiquated
vehicle that is incapable of dealing with the new world. We must
assure, in the evolution of institutions, that we provide an environment for fair competition, so that we can strengthen the financial
system and give it the vitality it needs to adapt.
With the risks that are involved in the world in which we live,
we need increasingly to reassure ourselves as to the safety and
soundness of our financial institutions. The response to change is,
in part, the question before this committee, and I must say that
changes are not being suggested because there is any defect in the
system we have; it was well conceived. The founders of the Federal
Reserve and those who have structured our financial system built
it well, and it has served our Nation well for a long time. But the
genius of the American political system is that it is flexible and
adaptive and can reexamine institutions as changes come about
and move to strengthen institutions to deal with changes. It is this
process of strengthening and reevaluation that is, it seems to me,
before this committee. It is this ability to adapt-this lack of rigidity that otherwise would compel one to live only in the past-that
makes it possible for us to meet the needs of a growing nation in a
complex world.
The issue here is not a new one. It has had a gestation period of
several years, during which we have all dealt with the phenomenon of change in our financial system, change in the membership
of the Federal Reserve. This has allowed time for these issues to
sharpen and to ripen so that, in my view, the time for action is this
year. I commend this committee for its willingness to give priority
to this matter. The time to come to grips with and resolve the
issues that have been developed is here this year.
This is the year when there can be a resolution of the issues, and
I believe that this committee-the leadership of this committee, the
members of this committee and the staff of this committee-is
particularly well equipped, because of your background and interests to deal with the issues and to fashion a responsible solution
which will provide the foundation for a strong financial system
able to meet the challenges ahead.
It is imperative that we provide a solution, because there is a
high risk in doing nothing. If we do nothing, not only will we
impair the effectiveness of our monetary system and the effective
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ness of monetary policy to deal with the great issues of inflation
and growth and employment, but we will also accelerate the loss of
revenue to the Treasury. If we do nothing, certainly there shall be
a continuing decline in membership, and a continuing decline in
the earnings of the Federal Reserve and the revenue that is transferred to the Treasury.
But we also must not be so propelled toward a solution that we
overlook the legitimate concerns of the various institutions that
will be affected. So I think we have to move promptly on something
this important which has been gestating so long; on the other
hand, we should be admonished to do so with prudence and to find
a sound solution so that we do not disrupt the natural evolution of
institutions that have served our Nation well, but must serve
better in the future.
Mr. Chairman, H.R. 7, which you introduced, is, in my view-and
in the view of the Federal Reserve Board-a constructive proposal
for dealing with this issue. We are dealing with certain needs that
I would like to outline briefly. Then I would like to mention some
of the effects on constituencies and then, perhaps, some of the
adjustments we think might further strengthen the proposal so
that it does the best job in responding to the challenge.
The first need we have deals with monetary policy. The charts
that are attached to the formal testimony that has been presented
to you show what you already know; that is, that there has been a
sharp decline in the number of banks that are members of the
Federal Reserve and in the percentage of bank deposits that are
subject to Federal Reserve requirements. Chart II shows that there
has been a steady decline in deposits covered by the Federal Reserve System, from about 85 percent in the early sixties, to only
about 72 percent today. This decline has been accelerating in
recent years. Other charts-I won't burden you with their particulars-show that the decline has been even more rapid in New
England, where the introduction of NOW accounts accentuated the
considerations which influence banks to leave the System.
The reason banks leave the System is because of the burden of
membership. The System in which we have been operating requires
member banks to maintain sterile reserves which earn no interest,
and it is the loss of earnings capacity of those reserves that has
caused many banks-operating in a highly competitive environment, with new kinds of financial instruments and institutions
offering them new kinds of competition-to reexamine the benefits
and the burdens of membership. Many have weighed the burdens
as being too great and have been leaving the System.
The aggregate burden to members, based on 1977 data would run
to around $650 million a year. Chart III shows the breakdown of
this burden among sizes of banks. The burden in terms of dollars
falls most heavily on the larger institutions, but the burden as a
percent of earnings falls most heavily on small institutions. Since
they are the ones most affected and their competitiveness is most
impaired by membership, we have had a particularly serious decline in the membership of smaller institutions. In recent years,
however, medium sized and even larger institutions unfortunately
have also been leaving the Federal Reserve System.
What does all this mean? Is it important?
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In our view it is. Chart I is an attempt to demonstrate the
relevance of reserve requirement coverage of deposits by the Federal Reserve. To the degree that deposits are outside the Federal
Reserve System, there is a greater amount of unpredictability, of
variability, in predicting money aggregates and, therefore, in conducting monetary policy. This chart shows that at the present time,
with a little less than 30 percent of deposits not covered by the
Federal Reserve, there can be a range of unpredictability of 6 or 7
percentage points, so that indeed a very wide band of error can
exist as we try to implement monetary policy and determine the
effects on aggregates. Hence, as we have noted, it has been very
difficult for the Federal Reserve to predict with certainty how its
monetary policy will work out month to month in assuring the
proper rate of growth of the aggregates that will support antiinflation policies while maintaining moderate growth.
This chart points out only the slippage between reserves and
deposits that takes place as a result of shifts of deposits between
members and nonmembers. There is further slippage because of
the various gradations of reserves. If deposits move from small
banks to larger banks, the reserve requirement goes up because of
the graduated scale; and vice versa. There is also slippage when
funds move from one class of deposit to another, since those movements are not predictable. Add to this the slippage that results
from deposits moving from members to nonmembers and we have
serious problems.
It is for this reason that we are concerned.
H.R. 7 certainly goes a long way, in our view, to solving this
problem. It stabilizes the deposits that would be subject to Federal
Reserve requirements now and in the future. It does address the
burden on small institutions by providing an exemption so that the
deposits that would be covered would be principally those in the
larger institutions.
We do feel that, with the complexity of our monetary system,
there is a benefit from carrying that coverage to an even further
degree. It is for that reason, Mr. Chairman, that we have suggested
in our statement and submitted to you a proposal to include in
revised legislation a provision for an earnings participation account
at the Federal Reserve to be held against deposits exempted under
H.R. 7, which would increase covered deposits. But because that
earnings participation account would be an asset, participating in
the earnings of the Federal Reserve, there would still be some
protection of the earnings capacity of smaller institutions. So our
revisions would accomplish two goals: Expand the deposits in the
System for purposes of predictability and control of the monetary
system; protect the earnings benefit of smaller institutions under
the exemption level of H.R. 7 since the earnings on their earnings
participation account would be approximately equivalent to what
they might earn from liquid assets held in market instrument.
We, therefore, will be referring from time to time to the Federal
Reserve Board's proposed modification of H.R. 7-Mod 7-and
urge, Mr. Chairman and members of the committee, that Mod 7 be
considered a very high priority, a constructive addition, to an already constructive proposal.
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When we look over the issues before us as to the need for this
legislation, we are aware of the issue of fairness. When the Federal
Reserve System was first established, commercial banks were,
indeed the principal-and virtually the only-source of depository/
transaction services in this country. With the development of many
other institutions, this is increasingly less so; thrift institutions,
credit unions and savings and loans, offering competitive financial
services, have arisen. This means that as the burden of membership, of sterile reserves, continues on member banks-and as new
forms of depository services not subject to those requirements arise,
the gap in competitive equality grows.
If reserve requirements are looked upon as a form of tax, then it
is a peculiar tax system that taxes only some members in the
arena and leaves others exempt. It is almost as if, in our personal
income tax system in the United States, we were to tax only
certain people and not others. It seems to us that the time has
come to recognize the unfairness of that approach, and, to the
extent there must be a tax, to be sure it is applied equally to all
institutions of like kind. We do have a concept in the United
States, which is not unfamiliar to any of us, and that is that we do
recognize, not a difference in kind of institution, but a difference in
size of institution. In our personal income tax, we do have exemptions and lower rates for lower income, and it would be logical, as
the chairman has proposed in H.R. 7-even if covering all depository institutions-to have an exemption based on size but not on
function. This proposal is an appropriate one.
There is also a need to deal with the membership issue because
of the safety and soundness of financial institutions. One of the
provisions of H.R. 7 is to make available the discount window, the
borrowing facility of the Federal Reserve, to all financial institutions in the purview of this new legislation. That is a favorable
development; it assures that in times of liquidity needs-either
because of the effects of monetary policy, sudden shifts in deposits,
or for whatever reason-there is a sure and safe means of adjusting portfolios-and it assures that there is that liquidity in the
System that is necessary for it to adjust well to changing requirements.
There is also a recognition in this legislation that the payments
mechanism itself needs to have the central bank as an ultimate
source of assurance that payments will be handled without risk to
the parties to a transaction. To the extent that large clearing
banks are outside of the Federal Reserve, there is less assurance of
complete safety in the payments system. To the extent that institutions are in the Federal Reserve System, the availability of this
backup assures there will not be any disruption, any unavailability
of funds, in the payments system due to some sudden problem of
liquidity or difficulty in the financial affairs of a clearing bank
outside the System.
I might add that a fourth need, in looking at this problem, is to
be sure we do not impair-particularly in these times of austerity-the income to the Treasury. All of the suggestions for change
are made in the light of the reality that this is not the time to
reduce significantly the revenue availability to the Treasury.
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Any proposal which tries to reduce the burden of membership in
the Federal Reserve through a more equitable and uniform system
does have a cost. That cost must be minimized if we are to meet
our responsibilities. I want to emphasize again, however, that if we
do not make changes, then revenue is going to be lost anyway,
because banks are going to be leaving the System.
At the appropriate time today I will have available a schedule
that both the Federal Reserve and Treasury have calculated as the
net costs of H.R. 7 over the next 5 years. The proposal we make, as
a modification, for establishing an earnings participation account,
would not change those figures. To the extent that we have further
deposits maintained with the Federal Reserve, we would invest
them; and these earnings would be passed back to the institutions
so there would be no net change in costs. It would merely assure
more deposits would be covered.
Any such system must be a practical system. We are here today
to design from scratch a modified financial system. I am sure each
of us could define an ideal, but that ideal would not have to take
account of the interests that existing institutions have in the environment in which they have developed and been allowed to develop
and in which they have been allowed to grow.
We do not live in a world in which there are no constituencies;
we live in a world where there are constituencies. It is for this
reason we should recognize that H.R. 7 does not design the ideal
system but the system which is most ideal within the constraints
within which we must all live in being fair to institutions as they
have developed.
In particular, let me talk about the constituencies. The constituencies of member banks should be benefited by this legislation
because the inequitable burden that has fallen on member banks
will be reduced. Nonmember banks will be subject to reserve requirements, but because of the structure of the exemption and the
levels of reserve requirements, the burden will be modest in relation to the public benefit of solving this problem. Only a relatively
few of nonmember banks would actually be required to deposit
nonearning balances with the Federal Reserve.
In terms of the national interest, therefore, a great body of
nonmember banks would be sheltered from any change. Only those
large institutions, who should be required to compete fairly with
other comparable institutions, would be affected, but they themselves should recognize the beneficial effect. They should be interested in a stable, sound monetary system, which is their best
assurance for growth and a fair share of the market in the future.
We come to thrift institutions. Very few of them will be affected
by this legislation because. of the exemptions, which recognize
merely their participation as to transactions accounts and balances. They are required to compete in the same way that other
institutions are required to compete as they grow and begin to
acquire powers beyond what existed in the past. That certainly is
an equitable proposition, one in which the thrifts should recognize
their self-interest. By having a known, stable system, with the
monetary issue resolved, for decades to come, they will know. under
what conditions they will be able to prosper and grow within their
fields of interest.
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Those who are purists would argue that ·if we wanted an ideal
system we should endeavor to apply the same reserve requirements
to the savings and time deposits of thrifts as we do to banks, but
here we come to a practical constraint. Those deposits have been
built up over time, as a result of different institutional concepts
and charters, and to change the ground rules in so big an area at
this time would probably not be a practical solution. I think we
should recognize that and, instead of seeking the ideal, seek the
practical in that regard.
As to the other constituencies, I think there is a concern among
State bank supervisors that such a change in the System might in
some way impair upon their responsibilities within the dual banking system. I would be happy to discuss this at length, but it seems
to me that is not a likely course of events. The fact is that we do
propose a new creative environment, not to change the options that
various banks have as to taking State or national charters. If that
were the only consideration today, the 1,100 State member banks
would all take out national charters instead of having State
charters. So it seems to me the evidence shows that there are many
reasons why banks have been willing both to maintain reserves
and to maintain State charters, an<l I see nothing in this legislation
that would change banks' decisions.
Finally, there is the constituency of the Treasury. The Treasury
and the Federal Reserve are in agreement as to the effect this
proposal would have on Treasury revenues, and we are in agreement that if this bill should be passed, the Federal Reserve would
make available from its accumulated surplus-accumulated over 65
years-reimbursement to the Treasury for the effect on its revenues over the next 3 years. There should be no significant impact
on the Federal deficit thereafter, because this legislation will offset
the losses that would take place in its absence from the attrition of
membership.
Mr. Chairman, I could go into more detail about all of these
subjects. With your permission, I hope that the prepared statement, which I know each member has had a chance to review, and
the attachments, will be made a part of the record. I have tried to
approach the issues from a different point of view, to put in perspective for this committee-for this Congress-what we are trying
to accomplish. I certainly appreciate the opportunity to give these
viewpoints, and would welcome the opportunity to elaborate in
answer to questions of this committee.
Thank you.
[Text resumes on p. 303.]
[Mr. Miller's prepared statement, with attachments, on behalf of
the Board of Governors of the Federal Reserve System, follows:]
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Proposals to Facilitate the Implementation
of Monetary Policy and to Promote,Competitive
Equality Among Depository Institutions
Statement by
G. William Miller
Chairman, Board of Governors of the Federal Reserve System
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before the
Committee on Banking, Finance and Urban Affairs
House of Representatives
71
Mr. Chairman, members of the Committee, the nation's
financial system has been undergoing rapid change in recent years,
altering the competitive environment in banking and other financial
markets and complicating the Federal Reserve's ability to implement
monetary policy.
Nonmember depository institutions have been
growing much more rapidly than member banks.
Transactions-type
deposit accounts have become more widespread at thrift institutions.
And, in general, competition among depository institutions and
between those institutions and the open market has become much more
intense.
This competition promotes efficiency in the financial system,
and banks have been re-assessing their costs and operations.
Many,
as a result, have become less willing to bear the high cost of cash
reserve requirements associated with being a member of the Federal
Reserve System.
Thus, there has been a steady--and in recent
years accelerating--decline in the proportion of bank deposits,
especially transaction deposits, subject to Federal reserve requirements.
Moreover, the continued development of new transactions-type
deposits at nonbank depository institutions will further worsen this
situation.
IEVELOPMENTS WEAKEN MONETARY CONTROL
It is essential that the Federal Reserve maintain adequate
control over the monetary aggregates if the nation is to succeed
in its efforts to curb inflation, sustain economic growth, and
maintain the value of the dollar in international exchange markets.
The attrition in deposits subject to reserve requirements set by the
Federal Reserve weakens the linkage between member bank reserves and
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the monetary aggregates.
As a larger and larger fraction of
deposits at banks becomes subject to the diverse reserve requirements
set by the 50 states rather than by the Federal Reserve, and as more
transactions balances reside at thrift institutions, the relationship
between the money supply and reserves controlled by the Federal Reserve
will become less and less predictable.
Open market operations, the
basic tool of monetary policy, therefore are becoming less precise
in their application.
Our staff has attempted to assess the extent to which growth
of deposits outside the Federal Reserve System would weaken the
relationship between reserves and money.
Their tentative results
are shown in Chart I, which depicts the greater range of short-run
variability in M-1 and M-2, with a given level of bank reserves,
that would develop as the per cent of deposits held outside the Federal
Reserve rises.
As more and more deposits are held outside the System,
this chart suggests that control of money through the reserve base
becomes increasingly uncertain.
USE OF RESERVE REQUIREMENTS HAS BEEN RESTRICTED
With the proportion of banks subject to Federal reserve
requirements declining, the ability of the central bank to use changes
in reserve requirements as a tool of monetary policy has been increasingly undermined.
Changes in reserve ratios not only affect a smaller
proportion of deposits today than in the past, but the Board also
must weigh the potential impact of its actions on the membership
problem--end hence on its ability to maintain monetary control over
the longer run--each time it deliberates on the uses of this tool. Such
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concerns inhibit the Board's freedom of action to conduct monetary
policy.
If reserve requirements were applied universally, as is
proposed in H.R. 7, adjustments in reserve ratios to affect the
availability of credit throughout the country, or to influence
banks' efforts concerning particular types of deposits, may again
become a more viable monetary instrument.
Moreover, while open
market operations in U.S. Government securities provide the Federal
Reserve-with a powerful policy instrument, it is possible that
conditions could develop in the future--such as a less active market
for U.S. Government securities in a period of reduced Federal
budgetary deficits--where more flexible adjustment of reserve requirements might be a desirable adjunct in efforts to control the monetary
agg,.,gates.
AS HAS BEEN THE DISCOUNT WINDOW
The effectiveness of the Federal Reserve's administration
of the discount window also has been potentially compromised by
recent developments.
Membership attrition and the growth of trans-
actions balances at nonbsnk depository institutions have resulted
in a shrinking proportion of the financial system having immediate
access to the discount window on s day-to-day basis.
The discount window, as the "lender of last resort," provides
the payments system with a basic liquidity backup by assuring member
banks the funds to meet their obligations.
But, if the proportion
of institutions having access to this facility continues to decline,
individual institutions could be forced to make abrupt adjustments
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in their lending or portfolio policies, because they could not tum
to the window to cushion temporarily the impacts of restrictive
monetary policies.
Risks that liquidity squeezes would result in bank
failures could also increase.
Thus, the Federal Reserve may find
that its ability to limit growth in money and credit in order to
curb inflation was being unduly impeded because the safety valve
provided by the discount window was gradually losing its effective
coverage.
AND THE PAYMENTS SYSTEM FACES DETERIORATION
The growth of transactions balances at institutions that
do not have access to Federal Reserve clearing services also could
lead to a deterioration of the quality of the nation's payments
system.
Reserve balances held at Federal Reserve Banks are the
foundation of the payments mechanism, because these balances are
used for making payments and settling accounts between banks.
Nonmember deposits at correspondent banks can serve the same purpose,
but as more and more of the deposits used for settlement purposes
are held outside the Federal Reserve, the banking system becomes more
exposed to the risk that such funds might be innnobilized if a large
correspondent bank outside the Federal Reserve experienced substantial
operating difficulties or liquidity problems.
A liquidity crisis
affecting such a large clearing bank could have widespread damaging
effects on the banking system as a whole because smaller banks might
become unable to use their clearing balances in the ordinary course
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Federal Reserve Bank of St. Louis
75
of business.
The Federal Reserve, of course, is not subject to
liquidity risk and therefore serves, as Congress intended, as a
completely safe foundation for the payments mechanism.
In sum, the major functions of the Federal Reserve System-to conduct monetary policy in the public interest, to provide backup
liquidity and flexibility to the financial system, and to assure a
safe and efficient payments mechanism--all have been undermined by
recent developments.
These developments include, as I've noted
earlier, attrition in Federal Reserve membership and the spreading of
third-party payment powers to nonbank institutions.
DECLINE IN SYSTEM MEMBERSHIP
For more than 25 years there has been a continual decline
in the proportion of commercial banks belonging to the Federal Reserve.
The downward trend in the number of member banks has been accompanied
by a decline in the proportion of_bank deposits subject to Federal
reserve requirements, as may be seen from Chart II.
As of
mid-1978, member banks held less than 72 per cent of total commercial
bank deposits, down about 9 percentage points since 1970.
Thus,
more than one-fourth of commercial bank deposits--and over threefifths of all banks--are outside the Federal Reserve System.
DUE .TO THE EXCESSIVE COST OF MEMBERSHIP
The basic reason for the decline in membership is the financial
burden that membership entails.
Most nonmember banks and thrift
institutions may hold their required reserves in the form of earning
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Federal Reserve Bank of St. Louis
76
assets or in the form of deposits (such as correspondent balances)
that would be held in the normal course of business. Member banks,
by contrast, must keep their required reserves entirely in nonearning form.
The cost burden of Federal Reserve membership thus consists
of the earnings that member banks forego because of the extra amount
of non-earning assets that they are required to hold.
Of course,
member banks are provided with services by Reserve Banks, but the
value of these services is insufficient to close the earnings gap
between member and nonmember banks.
The Board staff estimates that the aggregate cost burden
to member banks of Federal Reserve membership exceeds $650 million
annually, based on data for 1977, or about 9 per cent of member bank
profits before income tax.
The burden of membership is not distributed
equally across all sizes of member banks.
According to staff estimates,
shown in the lower panel of Chart III, the relative burden is greatest
for small banks--exceeding 20 per cent of profits for banks with less
than $10 million in deposits.
Further reductions of reserve require-
ments within existing statutory limits would do little to eliminate
the burden for most classes of banks, especially for the smaller banks.
INEQUITY OF COST BURDEN BORNE BY MEMBER BANKS
The current regulatory structure is arbitrary and unfair
because it forces member banks to bear the full burden of reserve
requirements.
Only member banks must maintain sterile reserve
balances, while nonmember banks, which compete with members in the
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Federal Reserve Bank of St. Louis
77
same markets for loans and deposits, and thrift institutions, which
increasingly are competing in the same markets, do not face similar
requirements.
Thus, members are at a competitive disadvantage
relative to other depository institutions.
Among the major countries
in the free world, only in the United States has this legislated
inequity been imposed on the commercial banking system.
It is no
wonder that member banks continue to withdraw from the Federal
Reserve.
SPREAD OF THIRD-PARTY PAYMENT POWERS
At the same time, the spread of third-party powers to thrift
institutions is further increasing the proportion of transactions
balances outside the control of the Federal Reserve.
Commercial
banks' virtual monopoly on transactions accounts, maintained in the
past because of their ability to offer demand deposits, is being
eroded.
Moreover, recent financial innovations have led to widespread
use of interest-bearing transactions accounts at both nonbank
depository insitutions and co11DDercial banks, These developments have
increased both the costs and competitive pressures on banks, no doubt
compelling members to reevaluate the costs and benefits of membership and thus playing a significant role in membership withdrawals.
The payments innovations since 1970 are well know to this
Committee, and include limited pre-authorized "bill-payer" transfers
as well as telephone transfers from savings accounts at banks and
savings and loan associtions, NOW accounts at practically all
depository institutions in New England, credit union share drafts,
automatic transfers from savings deposits, and the use of electronic
terminals to make inunediate transfers to and from savings accounts.
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Federal Reserve Bank of St. Louis
78
Growth of these transactions-related interest-bearing
deposits has been most dramatic in recent years.
For example, NOW
accounts in New England have grown from practically zero in 1974 to 8
per cent of household deposit balances in mid-1978, as shown in
Chart IV, and one-third of these NOW deposits are at thrift institutions.
The intense competition engendered by the introduction of NOW accounts
has been accompanied by an acceleration of member bank attrition in
New England to a rate well beyond that of the nation, as shown in
Chart V.
This increase in member bank withdrawals is clearly not
just coincidental.
There is no sign that the intense competition will abate.
As shown in Chart VI, savings accounts authorized-for automatic
transfer have grown rapidly at commercial banks across the country
since their introduction Noyember 1; and in New York, NOW accounts,
which were authorized November 10 for all depository institutions
in the State, have been increasing vigorously.
In addition, the
Federal Home Loan Bank Board has announced its intention to authorize
savings and loan associations to offer Payment Order Accounts, or
POAs, which are interest-bearing deposits that can serve many of the
same functions as NOWs.
These developments have caused the distinctions among banks
and thrifts with respect to the "moneyness" of their deposits to
become increasingly blurred and have prompted the Federal Reserve
to reevaluate its existing measures of the monetary aggregates and
to consider possible readjustments to reflect the changing
institutional environment.
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Federal Reserve Bank of St. Louis
The most basic measure of transactions
79
balances, M-1, clearly should include more than just currency and
commercial bank demand deposits.
And, the broader aggregates may be
redefined to emphasize distinctions by type or function of deposit
rather than by the institution in which the deposit is held.
Changing
the money measures to reflect economic reality, including the wider
role played by depository institutions other than member banks in the
monetary system, would be complemented by legislation for universal
reserve requirements.
LEGISLATIVE PROPOSALS POINT IN THE RIGHT DIRECTION
The Monetary Control Act of 1979, H.R. 7, introduced by the
Chairman of this Committee, represents a constructive approach to
improving monetary control and reducing the inequities in markets in
which depository institutions are competing.
This bill proposes universal reserve requirements by
establishing a reasonable set of reserve ratios applicable to all
deposits at counnercial banks and to transactions balances at thrift
institutions.
The definition of transactions accounts includes not
only demand deposits, but also the growing number of new thirdparty payments accounts.
Such an approach puts all depository
institutions on an equal competitive basis in the market for transactions deposits and helps assure the continuation of a reserve
structure needed for the efficient conduct of monetary policy.
Under this legislation all counnercial banks and thrift
institutions with transactions accounts would have access to the
Federal Reserve discount window.
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Federal Reserve Bank of St. Louis
The Federal Reserve could then
80
act as a "lender of last resort" to a broader class of depository
institutions and thereby enhance the overall safety and soundness of
the depository system, as well as providing more flexibility to
financial institutions to respond to changing monetary policy. The
bill also gives all depository institutions access to Federal Reserve
services.
With the application of an appropriate pricing schedule for
such services, this action should improve the efficiency of the
payments mechanism which underlies all of the nation's economic
transactions.
But I should emphasize that open access to System
services, desirable as it may be, is only practicable if the
so-called membership problem is resolved, as H.R. 7 does in principle.
Without resolution of the membership problem, open access at an
explicit price set for all institutions would only exacerbate the
problem and lead to even greater reduction in the Federal Reserve's
deposit coverage, since services would be available to nonmembers
without bearing the burden of reserves.
BUT CERTAIN MODIFICATIONS OF H.R. 7 ARE NECESSARY
The various features of H.R. 7 redress much of the growing
competitive inequity among financial institutions and provide a
potentially improved framework for enhancing the implementation of
monetary policy.
However, as drafted, certain provisions of this
legislation compromise the improvement in monetary control that
universal reserve requirements could foster.
First, the exemption from any reserve requirement of the
first $50 million of transactions balances and the first· $50 million
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Federal Reserve Bank of St. Louis
81
of other deposits reduces somewhat from present levels the proportion
of deposits subject to Federal reserve requirements,
More importantly,
though, the rather complex procedure for indexing the exemption would
mean that the proportion of deposits subject to direct Federal Reserve
control could not increase over time,
Hence, the Board believes
that the bill needs to be modified, and it has a proposal which will
both enhance monetary control and preserve for all institutions the
earnings protection of the exemption contained in the bill, without
increasing the cost to the Treasury from that associated with H,R, 7,
PARTICIPATION IN FEDERAL RESERVE EARNINGS FOR EXEMPTED DEPOSITS
The Board's proposed modification involves establishment of an
"Earnings Participation Account" at the Federal Reserve to be held
against deposits exempted by H,R, 7 from reserve requirements.
To
reduce the record-keeping burden, small institutions could be excluded
from having to hold this account.
This exclusion could amount to the
first $10 million of transactions deposits at each institution
and
$10 million of other deposits at each commercial bank,
For banks,. with respect to all deposits, and for other
depository institutions, with respect to transactions deposits, their
Earnings Participation Account would be held against deposits above
the $10 million exclusion and up to the amount of the $50 million
exemption in H,R, 7,
The size of this Earnings Participation Account
for each deposit category would equal the reserve ratio applicable to
deposits in that category times the amount of deposit liabilities
between $10 million and $50 million,
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Federal Reserve Bank of St. Louis
To the extent that an
82
institution holds vault cash in excess of its required reserves
on nonexempt deposits, the size of the Earnings Participation Account
would be reduced correspondingly,
This provision reduces the
possibility that institutions would build up their excess reserves,
which would tend to increase the slippage between reserves and
deposits and thereby diminish monetary control.
Chart VII compares the impacts of the Board's proposal
with H,R, 7 and with the current reserve system.
As can be seen
in the upper left-hand panel, the Board's modification has the
advantage of greatly increasing the proportion of commercial bank
transactions deposits covered by an account at the Federal Reserve-from the present 73 per cent to 94 per cent. This would be
accomplished even though the $10 million exclusion would mean that
45 per cent of all commercial banks, as well as virtually all thrifts,
would not be required to hold any account at the Federal Reserve.
At the same time, as shown in the right-hand upper panel, the number
of banks holding non-earning reserve balances at Federal Reserve
Banks would be as low as under H.R. 7,
The number would be sharply
reduced from the current level of 5,664 to an estimated 656,
Finally, the bottom panel indicates that the effect on bank earnings
would be virtually the same under either H.R. 7 or the bill as
modified by the Board's proposal.
The difference would be that
under our proposal, banks would hold some assets in the form of
the Earnings Participation Account rather than as market investments
or loans.
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Federal Reserve Bank of St. Louis
The return on this account would be equivalent to the
average return on the Federal Reserve's portfolio, which includes
both short- and long-term securities.
Some years this return might
be higher than banks would earn on other assets--which are likely
to be a combination of loans and liquid instruments--and some years
less.
On average, over time, there should be little difference.
I would like to underline the advantage of bringing
transactions-type deposits at thrifts under reserve requirements
in this manner.
It will be several years, at least, before any
significant number of thrift institutions would actually have to
hold non-earning reserves at the Fed.
loan association or credit union
Currently, no savings and
has transactions deposits in
excess of the $50 million exemption.
Only 8 mutual savings banks
have transaction accounts in excess of the exemption, and each
has vault cash considerably in excess of the reserve requirement
that would apply to such deposits.
Attachment A presents a listing of individual member and
nonmember commercial banks and MSB's similar to that shown on
pages 17 to 65 of the Committee print, Description of the Monetary
Control Bill.
An asterisk in the far right column indicates that
it is a bank added to the list by the Board's proposal--that is,
it has deposits above the excluded level but below the exempted
level.
These added banks would hold an Earnings Participation
Account at the Federal Reserve but they would not hold any nonearning required reserves balance at Reserve Banks because their
deposits are below the exempted level.
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Federal Reserve Bank of St. Louis
Banks without an asterisk
were on the committee list before, and their ~on-earning
balance is affected exactly the same as in H.R. 7.
reserve
Column 4--entitled
EPA--shows the amount of the Earnings Participation Account each
institution would hold.
If this column is zero, the bank at the
end of 1977 had.sufficient vault cash in excess of its required
reserves so that it would have had no Earnings Participation Account.
Thus, the additional institutions brought under Federal
Reserve control would keep the earnings benefit of the exemption
level proposed by H.R. 7, since they would participate in the
Federal Reserve's earnings on the balances that they would be
required to maintain in the Earnings Participation Account.
More-
over, the cost to the Treasury would be no different under the
Board's proposal than under the proposed bill.
Under the Board's
plan, the Federal Reserve would earn additional interest on the
greater amount of balances that would be held at Reserve Banks,
thereby offsetting the cost of the depository institutions'
Earnings Participation Account.
In sum, the Board proposal would have the clear advantage of
expanding significantly the coverage subject to reserve requirements, thereby enhancing the implementation of monetary policy.
At the same time, it would sustain the earnings benefits of the
exemption level for all depository institutions--at no additional
cost to the Treasury.
Finally, exclusion of the first $10 million
of transactions-type deposits and $10 million of other deposits
from the earnings participation requirement would reduce the recordkeeping burden of the proposal, with relatively modest policy impact.
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Federal Reserve Bank of St. Louis
85
Attachment B provides language for a series of amendments to R.R. 7
that would implement the Board's proposed DK>dification.
Another modification proposed by the Board concerns affiliated
institutions.
Providing an exemption from required reserves of $100
million in deposits gives an incentive to banks to form new,
affiliated commercial banking entities in lieu of branch offices in
order to avoid the requirement to hold sterile reserves.
A bank as
large as $100 million would already enjoy many of the economies of
scale associated with larger banking operations.
Thus, the cost of
creating new banks would be small relative to the benefit of avoiding
reserve requirements.
To eliminate this potential loophole, the
Board proposes that affiliated commercial banks be limited to a
total exemption equal to the number of such institutions as of
August 1, 1978 times the exemption levels specified in the bill.
Such an amendment to R.R. 7 as it would be applied to the Board's
proposal is presented in Attachment
c.
Additional more technical
amendments to clarify reporting requirements and to conform other
provisions of the Federal Reserve Act are also attached for the
Committee's consideration.
Mr. Chairman, I want to thank you for the opportunity
to present the Federal Reserve's view on the Monetary Control Act
of 1979 this afternoon.
This bill deals constructively with issues of
crucial importance to the long-run viability of the nation's central
bank and to the health of our financial system.
The problems are
difficult, but considerable progress has been made in recent months
toward achieving a solution that promotes the public interest.
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Federal Reserve Bank of St. Louis
86
Chart I
Effect of Member Bank Attrition On Short-Run Predlctablllty of Monetary Aggregates
Absolute Range of Unpredlcteble Varlablllty In r--month Growth Rates
Percentage points
20
15
10
5
0
20
40
Per cent of Bank Deposits Not Subject to Rase<ve Requirements
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Federal Reserve Bank of St. Louis
80
87
Chartn
Percentage of U.S. Commercial Banks and
Deposits In the Federal Reserve System
Per cent
90
80
70
80
50
40
0
1981
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Federal Reserve Bank of St. Louis
1985
1969
1973
1977
88
Chart:m
Estimated Burden of Federal Reserve Membership
-
-
AGGREGATE BURDEN, 1977
Millions of dollars
300
.....
-
.....
,_
.....
,_
'--
1 - 100
~
'~
mmm I
I
I
I
I
200
AGGREGATE BURDEN AS PERCENT OF
ESTIMATED 1977 DOMESTIC PRE-TAX EARNINGS
0
-
-
.....
-
20
-
10
Per cent
30
'--
'--
.....
,_
~
I
I
0-10
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Federal Reserve Bank of St. Louis
10-50
I
50-100
I
100-500
I
500-1000
Bank size class(total deposits, millions of dollars)
0
Over 1000
89
Chortl!Z
NOW Accounts as Percentage of
Household Deposit Balances In New England
Percent
8
8
4
2
1974
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Federal Reserve Bank of St. Louis
1975
1978
1977
1978
90
ChartJ:z:
Percentage of New England Commercial Banks and
Deposits In the Federal Reserve System
Per cent
90
50
45
0
1961
1963
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Federal Reserve Bank of St. Louis
1965
1967
1969
1971
1973
1975
1977
91
Chart1Zl
ATS Accounts Nationwide and NOW Accounts In New York State
Billions of dollars
5
TOTAL
4
ATS
3
2
L..---'----'---....l..---'----'---'---.1....--...L..--....L.--....L---' 0
15
22
13
27
10
8
29
20
3
January
November
December
e
* NOW account authorization not effective until November 10.
40-915 0 • 79 • 7
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Federal Reserve Bank of St. Louis
92
Chart lZil
Effects of Proposals on Commercial Banks
~sactions deposits covered
Per cent
Banks holding non-earning
reserve balances at F.R. Banks
-100
Per cent
100
80
80
-
60
60
-
40
-
20
-
f-
5664
40
20
0
0
Current
H.R. 7
Current
Modified H.R. 7
Earnings gain from net
reduction in non-earning
balances
H.R. 7
Billions of dollars
Revenue from Earnings
Participation Account
800
H.R. 7
Baaed on December 1977 deposits.
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Federal Reserve Bank of St. Louis
I
I
Modified H.R. 7
600
400
200
0
Modified H.R. 7
93
Attachment A
Benefit to Banks Covered by Modified R.R. 7
Key to Column Headings
(1)
TDEP
Total domestic deposits as of the end of 1977.
(2)
VL!CSR
Vault cash as of the end of 1977.
(3)
1977 ~BAL
Estimated amount of reserve balances as of the end
of 1977 required by current law to be held at
Federal Reserve Banks (i.e., required reserves minus
vault cash) •
(4)
NEW EPA
Amount that would have been held in Earnings Participation Account at the end of 1977 under modified
R.R. 7,
(5)
NEW ~BAL
New required reserves minus vault cash that would
have been held at the F .R. Banks under modified
R.R. 7. (This amount is the same as under R.R. 7.)
(6)
DIF
Reduction in non-earnings required reserve balances
at Federal Reserve Banks that would have been held
under modified R.R. 7.
A negative amount represents an increase. (This amount is the same as
under R.R. 7,)
(7)
*
A bank covered by modified R.R. 7 but not by R.R. 7.
Examples for Member Banks
CA) The table shows that the first bank listed, Albertsville National
Bank, had deposits of $21,933,000 in December 1977. Vault cash
amounted to $366,000, and required non-earning balances at the
Federal Reserve were $641,000.
Under modified R.R. 7, this bank, as of the end of 1977, would not
have had to hold any non-interest earning balances at the Federal
Reserve because neither its transactions-type deposits nor the
sum of its other deposits was greater than $50 million. Albertsville
National therefore would have saved the $641,000 it held in noninterest bearing reserve balances at the Federal Reserve at the
end of 1977. This is the same savings as under. R.R. 7.
Since its vault cash is in excess of required reserves (which
would be zero), all vault cash would have been counted in lieu of
the Earnings Participation Account. The Earnings Participation
Account thus would have been zero because its vault cash was greater
than the reserve ratios times the non-excluded deposits (deposits
in excess of $10 million per account category).
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Federal Reserve Bank of St. Louis
94
(11)
As of Decemer 1977, Birmingham Trust National Bank had domestic
deposits of $828,915,000, vault cash of $6,100,000 and sterile
balances at the Federal Reserve Bauk of $39,847,000. Because it
had both transactions deposits and other deposits well in excess
of the $50,000,000 exemptions, Birmingham Trust, under modified
H.R, 7, would have had to meet reserve requirements with all of
its vault cash and reserve balances of $27,342,000. ·The difference
between the actual 1977 sterile balances and those under modified
H,R, 7 ~esult in a savings of $12,505,000--the same as under H.R. 7.
In this case, no vault cash would have been applied in lieu of the
Earnings Participation Account 1because required reserve would have
exceeded the bank's holdings of vault cash. Thua, the Earnings
Participation Account of Birmingham Trust will equal the reserve
ratio on transactions deposits (9.S per cent) times $40 million
plus the weighted reserve ratio on other deposits times $40 million,
or $5,162,000.
Examples for Nonmember Banks
(A)
The first nomnember bank listed is The Bank of Abbeville, which had
total deposits, as of the end of 1977, of $23,421,000 and wult cash
of $240,000. Under existing law, no nonmember bank has any Federal
reserve requirements. Under modified H.R. 7, this bank would have
continued to have no Federal reserve requirements because its transactions deposits and other deposits are well below the $SO million
exemption lev"l per account category. The same result would occur
under H.R. 7.
Since vault cash of the Bank of Abbeville would have been in excess of
required reserves (which are zero), all vault cash would have been
counted in lieu of the Earnings Participation Account, Thus, this-bank
would have had no Earnings Participation Account because vault cash
was greater than the reserve ratio times the non-excluded deposits.
(B)
Central Bank of Birmingham had total deposits of $510,662,000 in
December 1977. Vault cash was $3,050,000, and it had no Federal
reserve requirements. Under the modified H.R. 7, required reserves
would have been covered by its vault cash holdings plus $17,509,000
in sterile reserve balances. This results in a net increase in
nonearnings reserve balances of $17,509,000, the same as under H,R, 7.
In this case, no vault cash would have been applied in lieu of the
Earnings Participation Account because required reserves would
have exceeded the bank's holdings of vault cash. Thus, the Central
Bank of Birmingham would have maintained, under modified H,R. 7,
an Earnings Participation Account of 9,5 per cent times $40 million
in transaction balances plus the weighted average reserve ratios
on $40 million of other depo•its, or $5,459,000.
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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
HEHBER BANKS
DSB
6010020
6010040
6010050
6010090
0010 IQO
6010110
6010180
6010200
6010llO
6010240
6010255
6010300
NAME
ALBERTVlllE NATL BANK
FIR ST NB OF ALEXANDER CITY
ALICEVILLE BK t TR CO
ANNISTON NUIONAL BANK
COH~ERC I AL NB OF ANNISTON
FIRST NB Of ANNISTON
FIRST AL BANK Of ATttrns NA
FIRST NB Of ATMORE
AURURN IIATIONAL BANK
CHlTRAL BA'IK Of AUBURN NA
1ST AL OK Of BALDWIN CTY NA
0 IR~INGHAH TRUST IIAT BK
b0l03J8 CITY NB OF BIRMINGHAM
60106t)O
6JIOoTO
6010688
6010090
6010715
6010140
6ul0/50
60101325
6010850
6010RSO
6010910
601Qql5
6010910
6010985
6011050
6011090
6011115
60\1150
6011163
6011110
60111311
6011190
lDUTION
ALBERT V lllE
ALEXANOER C ITT
ALICEVILLE
ANNISTON
A•mlSTON
ANNISTON
AltlENS
AT HORE
AUBURN
AUBURN
BAY MINETTE
BIRHl"~GHAM
BIPHINGHAH
BIRHI NGHAH
BIRHINGHAH
BIRHINGHAH
BOAZ
BREWTON
BUTLER
CALERA
CAMDEN
CLANTON
CLANTON
COLUHBI ANA
LE f. TH NAT 8K Of CULLMAN
CULLMAN
PARKER BMIK ANO TRUST CO
CULLMAN
CENTRAL BANK OF ALA,BAHA NA
DECATUR
DECATUR
f IRST NAT 6AMK OF DECATUR
CITY NATIONAL BANK Of OOTHANDOTHAN
FIR~T ALAMHA BK Of OOTHAN DOI HAN
FIRST NAT BK Of DOTHAN
DOTHAN
FIRST NO OF EUFA.ULA
EUFAULA
FIRST NAT BK Of BALDWIN CTY FAIRHOPE
FIRST NS OF FAVETTE
FAYETTE
FIRST IIB Of FLORENCE
fLOREt,CE
SHOALS NAT BK Of FLORENCE
fl~RENCE
GADSDEN
A•ERICAN NB Of GADSDEN
GAOSOEN
1ST AL BK OF GADSUEII NA
FIRST NB Of GREENVILLE
GREENVILLE
CUNT ERSVILLE
FIR ST NB OF GUNTERSVILLE
HAHi LTCN
MARlml COU~TY 8ANKIUG CO
HEADLAND
HfAflLANO NATIONAL 8ANK
4"ERICAN NATIONAL BANK
HUNTSVILLE
1ST AL BK Of HUNTSVILLE NA HUNTSVILLE
HENDfRSON NB OF HUNTSVILLE HUNT SVltLE
HUNTSVILLE
PWPLES NB Of HUNTSVILLE
6010-:\20 f[GST NB OF 8IR111NGHA'4
6010325
60103H
6010360
6010410
60l045S
6010460
6010460
6010570
6010580
6010610
1/17179
BENEFIT TO BANKS COVERED BY HODIFIED H.R. 7
NATIONAL BANK Of co~~ERCE
SOUTHERN NATIONAL BANK
NATIONAL BK Cf BOAZ
FIRST NATIONAL BANK
FIRST NB OF BUTLER
CENTRAL STATE BANK
CA,~OCN NATIONAL i!ANK
FIRST NAT BK OF Cl.ANTON
PEOPLES SAVINGS BANK
FIRST NAT BK Of COLUMBIANA
Al
Al
Al
AL
AL
AL
AL
Al
AL
Al
AL
AL
AL
AL
AL
AL
AL
AL
AL
Al
Al
Al
AL
Al
Al
AL
Al
Al
AL
AL
Al
AL
AL
111
TDEP
121
Vl TCSH
21933
H342
16979
57239
58006
81102
36876
32111
26805
22887
2J484
828915
109328
1120037
23563
51975
17487
41640
24604
15260
20083
18557
19740
25163
27662
18711
511589
64544
31591
84933
116332
16235
46304
366
l349
251
TOO
1039
18l't
583
387
320
537
753
6100
1216
14329
531
732
240
373
508
225
259
263
327
284
673
243
7452
996
688
1023
3281
439
619
698
2336
399
1443
785
168
599
534
HO
785
3812
1619
AL
l 8242
AL
AL
135004
21105
61029
38170
465H
39060
l23n
23771
39452
155664
67626
38'14
AL
AL
AL
AL
AL
AL
AL
AL
Al
AL
1122
151
NEW
REQBAl
131
l97l
REQBAl
141
NEW
EPA
641
BBi
506
1829
1713
2074
1482
1034
875
522
401
39847
4870
584.l6
658
2045
516
1520
378
406
633
562
640
1087
764
713
20913
2833
1035
3209
2301
211
1593
180
4698
503
1 787
1165
1441
1212
1398
0
0
0
129
267
723
144
0
0
0
0
0
0
0
27342
0
41691
0
0
0
0
0
0
0
1oz
1323
4962
2072
861
0
5162
3314
5363
0
744
0
296
0
0
0
0
0
0
0
0
49H
1268
0
2024
724
0
252
0
3099
0
287
0
0
5
108
0
31
3314
587
0
0
0
0
0
0
0
0
0
0
0
·o
0
10465
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
161
DIF
131..:, 51
641
881
506
1829
17ll
2074
1482
1034
875
522
401
12505
4870
16745
658
2045
516
1520
378
406
633
562
640
1087
764
713
10448
2833
1035
3209
2301
211
1593
190
4b98
503
1781
1165
1441
1212
1398
762
1323
4962
2072
8<1
••
.•
••
•
••
••
•
•
•
••
•
•
•
.•
.••
..••
(C
C11
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
KEM8ER BANKS
Ill
DSB
NAME
6011230
6011240
6011265
6011370
6011380
6011390
6011410
6011430
6011437
60114)9
60IIH0
6011448
6011450
6011500
6011510
6011520
6011540
6011542
6011543
6011586
6011620
6011648
6011750
6011770
o0I11qo
6011795
60IIsao
6011827
6011850
601I8d0
60l1Bqo
6011900
bOl 1910
1,a11960
6011qao
6011q90
60120~0
6012010
6012130
OF
FIRST NB Of JACKSONVILLE
JACKSONVILLE
JASPER
FIRST NAT BANK Of JASPER
LANETT
VALLEY NATIONAL BANK
AHERICAN NAT 8ANK & TRUST COMOBILE
MOBILE
FIRST NAT BANK OF MOBILE
MERCHANTS NAT BANK Of MOBILEMOBILE
MONROE C GUN TY BANK
MONRO EV ILLE
HCNTG0MERY
ALABAMA 118 OF MONTGOMERY
MONTGOMERY
CENTRAL BANK OF MONTGOMERY
MONTGOMERY
EXC>IANGE NS Of MONTGOMERY
1ST Al BK Of MONTGOMERY NA MCNTGOHERY
SOUTHERN BANK NA
H0NTGOHERY
UNION BANK ANO TRUST COHPANYHCNTGCHERY
CIT I ZENS BANK
ONECNTA
OPELIKA
FAR ~ER S NB Of OPELIKA
OPELIKA
FIRST NAT BANK OF OPELIKA
FIRST NATIONAL BANK OF OPP OPP
OXFORD
CENTRAL BANK OF OXFORD
FIRST CITY NAT BK Of OXFORD CXF0RD
FIRST ALA BK Of PHENIX CY NAP HEN IX C ITV
FIRST NAT BANK Of PIEDMONT
PIEDMONT
CENTRAL BANK OF MOBILE NA
PR I CHARD
FIRST NAT SK OF RUSSELLVILLERUSSELLVILLE
FIRST NATIONAL SANK
SCOTTSBORO
CITY NATIONAL BANK Of SELMA SELMA
FIRST AL SANK OF SEUU NA
SELMA
SELMA
PEOPLES BANK ANO TRUST CO
FIRST COLBERT NATIONAL SANK SHEFFIELD
fl~ST NAT SANK OF STEVENSON STEVENSON
CITY NAT BANK OF SYLACAUGA SYLACAUGA
FIRST NAT BANK IN SYLACAUGA SYLACAUGA
I SBEll NAT BK OF TALLADEGA TALL ADE GA
TALL ADE GA tlA Tl O,~Al BANK
TALLADEGA
FIRH FARMERS ANO MERCHANTS TROY
ISi Al SK Of TUSCALOOSA NA TUSCALOOSA
TUSCALOOSA
FIRST NAT OK OF TUSCALOOSA
FIRST NB IN TUSCUMBIA
TUSCUHB IA
Al ASAMA EXCHANGf• 8AIIK
TUSKEGEE
~ETUHPKA
FIRST NAT OK OF WETUMPKA
85 BANKS AFFECTED IN STATE
------------------------
TDEP
LOCATION
51
27
Al
AL
Al
AL
AL
Al
AL
AL
Al
AL
AL
AL
AL
AL
AL
AL
AL
Al
AL
AL
AL
AL
Al
Al
AL
Al
Al
Al
Al
AL
Al
Al
AL
AL
Al
AL
AL
AL
AL
17983
78291
23227
155471
42392I
449267
22291
114393
88865
20118
395276
14543
196100
19859
30744
20000
45651
33220
14647
17787
14478
51594
4.62H
42024
38509
39179
64526
27883
20099
22031
22119
30963
33854
31083
104494
162516
32733
19077
3645l
1/17/19
121
VLTCSH
H4
1965
620
3092
8914
6743
344
1872
2151
390
6875
283
2265
269
953
2H
421
901
151
475
192
1228
520
671
739
110
1199
462
313
431
377
463
q5I
1U
1986
2seq
769
344
563
131
1911
REQBAL
10
393
2904
454
6187
15980
20317
709
4843
2067
439
152H
295
0
1006
0
090
560
5366
0
3211
789
0
5317
0
5119
0
0
0
o
0
0
0
0
0
156
40
0
0
589
0
0
0
0
0
0
0
2404
4733
0
0
0
1101
567
506
670
1445
502
411
361
344
871
1639
H21
1029
1020
192(
841
402
611
718
882
853
620
UZ1
6567
732
609
1079
NEW
EPA
151
NEW
RE0BAL
0
0
0
0
8086
11275
0
0
0
0
7189
0
6H
0
0
0
o
0
0
0
0
0
0
0
0
0
0
0
0
D
0
0
0
0
0
0
0
0
0
161
Dlf
Ul-151
393
2904
454
6187
7894
9042
709
4843
2067
439
8045
295
7053
567
506
670
1445
502
411
361
344
871
1639
1427
1029
1020
1"21
841
402
611
718
882
853
620
4227
6567
732
609
1079
••
•
•
•
•
•
••
•
•
•
.•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE ND REQURED RESERVE BALANCE
------------------------------------------------
~
a)
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER IANKS
NAME
OSB
l/ll/19
BENEFIT TO BANKS COVERED BY MODIFIED H.R. l
111
TOEP
LOCATION
IZI
Vl TCSH
131
UI
l97l
NEW
EPA
REQBAL
12020013
12020014
12020018
IZ020030
12020040
12020080
FIRST NB OF ANCHOUGE
NATIONAL BANK OF ALASKA
SECURITY NATIONAL BANK
ALASKA NATIONAL BANK
FIRST NAT BANK FAIRBANKS
FIRST NB OF KETCHIKAN
Of
AK
ANCHORAGE
ANCHORAGE
ANCHORAGE
FAIRBANKS
FHRBANKS
KETCHIKAN
6 BANKS AFFECTED IN STATE
I
3
AK
AK
AK
AK
AK
JlH67
486033
22665
189949
46432
48647
6678
12662
353
6140
1687
888
15706
20928
HZ
7008
1676
1503
4970
5183
0
4559
203
H
151
NEW
REQBAL
5733
9317
0
0
0
0
11>1
OIF
131-151
9973
11611
742
7008
1676
1503
•
••
HAYE NO EARNINGS PARTICiPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
----------------------------12040070 FIRST NAT BK OF ARIZOIIA
12040100 VALLEY NAT BK OF AR I ZONA
OF
PlllEIIIX
PHOENIX
2 BANKS AFFECTED IN STATE
AZ
AZ
0
0
36878
60547
9Ul9
134596
5093
5107
59966
83393
34153
51203
~
~
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RES ERYE BALANCE
-------805007C
8050105
8050110
8050160
8050180
8050190
8050250
8050330
8050340
8050360
8050400
8050440
8050510
8050520
8050590
8050600
8050610
8050630
8050660
80501>70
80501>90
8050720
2048791
3050692
FIRST NAT BK OF SHARP CTY
ASH FLAT
CITIZENS BANK
BATESVILLE
FIRST NATIONAL .BANK
BATESVILLE
FIRST NAT BK OF BERRYVILLE BERRYVILLE
FARMERS BANK ANO TRUST CD
BLYTHEVILLE
FIRST NAT BK IN BLYTHEVILLE BLYTHEVILLE
FIRST NAT BK OF CAMOEN
CAMDEN
FAR~ERS NB OF CLARKSVILLE
CLARKSVILLE
FIRST NAT BK ~F CONWAY
CONWAY
FIRST NAT BK OF CROSSETT
CROSSETT
FIRST NAT BK OF OE QUEEN
OE QUEEN
FIR ST NAT BK OF DE WI TT
DE WITT
FIRST NAT BK OF El OORAOO
EL DORADO
NAT BK OF CHRC CF EL DORADO EL DORAOO
FIRST NAT BK OF FAYETTEVILLEFAYETTEVlllE
IICILROY BlflK ANO TRUST
FAYETTEVILLE
FIRST NAT 8K OF FOPDYCE
FORDYCE
FIRST NAT BK OF E ARKANSAS FORREST CITY
CITY NAT BK OF FORT SMITH
FORT SMITH
FIRST NAT 8K CF FORT S~ITH FORT SMITH
MERCHANTS NB OF FORT S~ITH FORT SMITH
FIRST NAT BK IN GREEtl FORESTGREEN FOREST
-----AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
20025
30401
53592
28524
46401
H469
39886
23628
57267
33214
24983
246Bl
80615
45646
90717
72026
11>832
40115
107889
135711
88300
23247
122
322
883
166
553
831
118
268
671
552
H9
IBb
1051
518
1931,
1011
302
843
1726
221>I
1240
95
788
1125
1887
1164
2125
H12
1178
860
2195
899
118
1021>
3713
1543
3226
2931
361
1154
3778
b091
3711
957
0
0
334
0
636
28
0
0
lB5
0
0
0
ZOZl
328
1164
1302
0
0
1637
3730
1870
4
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
188
1125
1887
1164
2125
1412
11 TB
860
2195
899
178
1021>
3713
1543
3221>
2931
361
1154
3118
6091
3111
957
•
••
•
••
.•
•
•••
••
••
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIF IEO H.R. 1
MEMBER BANKS
NAME
DSB
8050810
805085 B
8050810
B0509I0
8050920
8050950
8050955
8050956
8050910
8051150
8051110
8051113
8051180
8051190
8051260
8051280
8051390
8051458
8051510
B05l550
8051558
8051510
8051600
8051630
8051680
B051690
8051818
8051820
8051830
8051854
8051910
8051950
8052010
8052015
8052020
8052140
8052150
8052IB5
8052190
8052250
OF
111
TDEP
LOCATION
FIRST NAT BK IN HARRI SDN
HARRISON
FIRST •NAT BK Of PHILLIPS CTYHELENA
HELENA NATIONAL BANK
HELENA
CITIZENS NAT BK OF HOPE
HOPE
FIRST NAT BK OF HOPE
HOPE
ARKA~SAS BK & TR CO
HOT SPRINGS
FIRST NAT BK OF HOT SPRINGS HOT SPRINGS
HOT SPRINGS
GRANO NATIONAL BANK
Fl~ST NAT BK OF HUNTSVILLE HUNTSVILLE
COIIRCL NB Of LI TILE ROCK
LITTLE RCCK
FIRST NAT BK IN LITTLE ROCK LITTLE ROCK
METROPOLITAN NATIONAL BANK LITHE ROCK
UNION NAT 8~ OF LITTLE ROCK LITTLE RCCK
WORTtlEN BANK & TRUST CO NA LITTLE ROCK
FIRST NAT BK OF MAGNOLIA
HAG NOLI A
HAL VERN NATIONAL BANK
HAL VERN
FIRST NAT SK IN MENA
MENA
FIRST NS t TR CO OF HT HOME HOUNTAI N HOME
FIRST NAT BK OF .NASHVILLE
NASHVILLE
FIRST NAT BK OF NEWPORT
NEWPORT
FIRST A<ERICAN NATIONAL BANKN LITTLE ROCK
FIRST NATIONAL BANK
CSCEOLA
FIRST NATIONAL BANK
PARAGOULD
FIRST NAT BK AT PARIS
PAR IS
tlA T BK OF CHRC OF PINE BLUFFPINE BLUFF
SI H,SONS FIR ST NATIONAL BANK PI NE Bl UFF
FIRST NATIONAL BANK
ROGERS
FIRS! NAI BK OF RUSSELLVILLERUSSELLVILLE
PEOPLES BA~K t TRUST CO
RUSSELLVILLE
FIRST NATIONAL BANK
SEARCY
FIRST NATIONAL BANK
SILOAM SPRINGS
FIRST NAT BK OF SPRINGOALE SPRINGDALE
FIRST NAT BK OF. STUTTGART
STUTTGART
TEXARKANA
CMRC NAT BK OF TEXARKANA
ST FIRST NAT BK OF TEXARKANAJEXARKANA
FIRST Na OF LAWRENCE CTY
WALNUT RI OGE
FIRST NATIONAL BANK
WARREN
FIDELITY NATIONAL BANK
WEST HEH PHIS
FIRST NATIONAL BANK
WEST HEHPHI S
FIRST NAT BK OF WYNNE
WYNNE
0
62 BANKS AFFECTED IN STATE
31
21
-----------------------------
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
AR
39552
35113
26601
45280
31839
132692
113883
18930
21659
193874
241815
29622
216249
385649
60041
28038
26860
52556
23171
35835
83798
31357
58990
244BO
119367
171139
44296
45918
47720
47656
32388
72041
53230
33656
120783
18432
24386
21286
23710
28225
121
VLTCSH
1031
460
318
264
459
1125
1848
212
201
2168
2686
310
3362
8197
601
631
365
372
336
284
2183
554
662
321
2002
3460
542
905
1002
533
424
1380
543
1009
3342
282
355
601
314
283
l/ll/79
131
1917
REQBAL
141
NEIi
1215
1192
820
1809
996
U55
3714
569
815
9805
12195
1037
10342
14419
2543
714
7~5
1810
802
1288
2546
929
2091
824
4521
0
0
0
293
0
2227
1625
0
0
5183
5121
0
5058
5211
1113
0
0
592
0
250
1088
0
52',
0
2985
3986
323
0
0
5864
l6•1l
1225
1059
1930
1138
2426
2222
498
3007
673
643
604
759
1039
EPA
415
0
641
716
0
92',
0
0
0
0
0
151
NEIi
REQBAL
161
DIF
131-151
0
0
0
0
0
0
0
0
0
1986
4029
0
2283
5236
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1215
1192
820
1809
996
4255
3714
569
Bl5
1819
8166
1037
8059
9243
2543
714
755
1810
802
1288
25,6
929
2091
824
4521
586"
1690
1225
1059
1930
1138
2426
2222
498
3007
613
643
604
759
1039
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
--------------
••
••
•
••
•
•
••
•
••
••
••
••
•
•
•••
•
•••
•
~
00
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BANKS
DSB
12060010
12060072
120600'1]
12060115
12060126
12060190
12060305
12060330
12060351
12060375
12060380
12060395
12060443
1206046 3
12060513
12060539
12060575
12060530
12060585
I20606JO
12060710
12060724
12060730
12060750
12060755
12060825
12060882
12060938
12060957
12060960
12060970
12061015
12061113
12061130
12061205
12061215
12061260
12061285
I206l4JO
12061410
12061450
12061505
12061530
12061625
12061640
12061680
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NAME
ALAMEDA FIRST NATIONAL BANK
AMERICAN NATIONAL BANK
C CHHUN IT Y NAT I ONAL BANK
CITY NATIONAL BANK
INYO MONO NATIONAL BANK
FIRST NB OF CLOVERDALE
FIRST NATIONAL BANK
FIRST NAT BANK OF DIXON
CAP ITAL NATIONAL BANK
SURETY NATIONAL BANK
FUST NB OF SAN DIEGO CTY
HUMBOLDT NATIONAL DANK
FIRST NATIONAL 8,\NK
111
TDEP
LOCATION
ALAMEDA
BAKERSFIELD
BAKERSFIELD
BEVERLY HILLS
BISHOP
CLOVERDALE
CALV CITY
DIXON
CA
CA
CA
CA
CA
CA
□ OWNEY
CA
CA
ENCINO ILAI
ESCONDIDO
EUREKA
FRESNO
VALLEY NATIONAL BANK
GLENOALE
~ECHANICS NATIO~AL BANK
HUNTINGTON PARK
IRVINE NATIONAL BANK
IRVINE
VALLEY BANK NATIONAL ASSOC L IVERHORE
F&M BK OF CENIRAL CALIFORNIALOOI
HID-CAL NATIONAL BANK
LODI
FRM t HRCH BK OF LONG BEACH LONG BEACH
LOS ANGELES NATIONAL BANK
LOS ANGELES
PAN AH NB OF E LOS ANGELES
LOS ANGELES CTY
SECURITY PACIFIC NAT BANK
LOS ANGELES
UNION BANK
LOS ANGELES
UNITED CALIFORNIA BANK
LOS ANGELES
GAq FI HO BANK
MONT EB ELLO
SANTA CLARITA NAT BANK
NEWHALL
CENTRAL BANK NAT ASSOCIATIONOAKLANO
OCEANS lOE
WEST COAST NATIONAL BANK
FIRST NATIONAL BANK t TR CO ONTARIO
FIRST NAT BK OF ORANGE CTY ORANGE
CCS~ERC !AL t FARMERS NAT BK OXNARJ
PETALUMA
SlfRqA NATIONAL BANK
FIRST NATIONAL BANK
PLEASANTON
RIVfRSIOE NATIONAL BANK
RIVERSIDE
PLACER NATIONAL BANK
ROCKLIN
MERCHANTS NATIONAL BANK
SACRAMENTO
SALINAS
VALLEY NATIONAL BANK
BANK OF AMERICA N T AND S A SAN FRANC I sea
BA~~ OF CALI FCRN I A N A
SAN FRANC I sea
CROCKER NHIONAL BANK
SAN FRANC I sea
SAN FRANC I sea
WE LL S FARGO BANK .N A
SAN JOSE
FIRST NAT BK OF SAN JOSE
SANTA BARBARA NATIONAL BANK ~ANTA BARBARA
COUNTY BANK OF SANTA CRUZ
SANTA CRUZ
CTZ ST BK OF SANTA PAULA
SANT A PAULA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
6h63
177526
108285
713651
18212
28969
35585
32599
28051
49642
85821
43603
41056
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389
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3861
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363
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337
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2
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
MEMBER BANKS
DS8
6120310
6I203H
6120360
6120315
61203~0
6.120192
6120393
6120399
6120425
612000
612002
6120440
6120454
6120455
6120459
6120460
6120471
6120473
6120487
6120491
6120510
6120562
6120564
6120572
61205H
6120592
6120598
6120589
6120590
6120595
6120600
6120612
6120620
6120630
6120640
6120644
6120646
6120650
6120653
6120692
6120705
6120110
6120720
6120165
6120780
6120802
NAME
Ill
TDEP
LOCATION
ATLANTIC FIRST NB OF
DA YT ONA BEACH
PAM AH BK OF VOLUSIA CTY N ADEBARY
BARNETT BANK OF DELAND N A DE LAND
BARNETT BK OF DELRAY SCH NA DELRAY BEACH
SUN FIPST NB OF DELRAY BCH DELRAY BEACH
SOU THE AST NB OF DUNEDIN
DUrlEDIN
SUN FIRST NB CF DUNEDIN
DUNEDIN
FIRSI NAT BANK & TRUST
EUSTIS
AMERICAN NATIONAL BANK & TR FORT LAUDERDALE
CENTURY NAT eK CF BROWARD
FORT LAUOERDAL E
CENTURY tlB ·of CORAL· RIDGE
FORT LAUDERDALE
LAN~HARK 1ST NB IN
FORT LAUDERDALE
EAST FIRST NATIONAL BANK
FORT HYERS
BARNETT BK OF FT HY~RS NA
FORT HYERS
FIRST CHRCL BK OF FORT HYERSFORT HYERS
FIRST NAT BK IN FORT HYERS FORT MYERS
BEACH FIRST NATIONAL BANK
FORT MYERS BEACH
FIP.ST NB OF FCRT PIERCE
FORT Pl ERCE
FIRST NB OF OKALOOSA COUNTY FORT WALTON BEACH
ATLNTC 1ST NB OF GAINESVILLEGAINESVILLE
FLORIDA NB AT GONESVILLE
GA I NESV ILLE
FIRST NAT BK OF HALLANDALE HALLANDALE
CITY NAT BK Of HALLANDALE
HALLANDALE
1ST AM NB OF HERNANDO CTY
HERNANDO CTY
FIRST NB Of GREATER MUHi
HIALEAH
BANK OF HOLIDAY
HOLIDAY
ATLANTIC NB OF W HOLLYWOOD HCLLYWOCD
ATLANTIC NB Of HOLLYWOOD
HOLLYWOOD
FIRST NAT BK OF HOLLYWOOD
HOLLYWOCD
EXCHANGE NB OF PASCO CTY
HOLIDAY
FIRST NAT BK OF HOMESTEAD
HOMESTEAD
CITZNS 1ST NAT BK CITRUS CTYINVERNESS
AHER ICAN NB OF JACKSONVILLE JACKSONVILLE
ATLANTIC NB OF JACKSONVILLE JACKSONVILLE
BAR~ETT BK OF JACKSONVLLE NAJACKSONVILLE
FLORIDA NAT BK AT ARLINGTON JACKSONVILLE
FLORIDA NAT BANK AT LAKE SHOJACKSONVILLE
FLA FIRST NB OF JACKSONVILLEJACKSONVILLE
JACKSONVILLE NATIONAL BANK
JACKSONVILLE
SOUIHEAST FIRST NU BCH BK JACKSONVILLE BCH
ELLIS FIRST NB AT JAY
JAY
FLORIDA FIRST NATIONAL BANK KEY WEST
FIRST NAT BK Of KISSIMMEE
KISSl~~EE
FIRST NB Of LAKELAND
LAKELAND
FLORIDA NAT BK AT LAKELAND LAKELAND
SUN FIRST NB OF·LAKE WALES LAKE WALES
O
FL
FL
FL
Fl
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
fl
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
1/17/19
121
VLTCSH
131
1917
REQBAL
141
NEW
422
411
2922
2695
2965
0
0
1530
1305
1362
0
697
0
3642
5082
2"16
5239
0
2037
0
2769
0
0
0
1220
0
.190
l335
0
2616
0
393
20
68515
18241
2313
72738
53262
100489
52518
403
390
2615
1495
8898T
IBTO
238T
30731
139040
252051
92430
434279
18221
95993
IBBB
180429
33000
30840
58919
78242
30016
304H
68462
18134
119338
33878
69426
30153
106667
19359
40986
34055
89042
298551
263382
2069
21820
28365D
100922
31964
18693
34606
28694
51980
41760
35635
290
2711
5779
1029
12665
314
1793
306
3831
1189
348
478
885
1711
2099
131
308
746
258
2126
421
1633
330
1001
351
1073
548
1172
072
3241
696
1408
4041
330
361
138
916
761
794
906
638
849
5111
8863
4081
l6H3
519
3186
507
4130
1~5
1007
968
2989
1197
1426
2899
HZ
4621
339
17-C8
1004
5584
429
1251
956
3125
10944
12551
422
0
10586
5266
1602
692
1015
947
1129
1411
987
EPA
3886
0
29
0
1755
5080
5235
0
0
5319
3490
278
0
D
0
351
94
0
151
NEIi
REQ8AL
0
0
0
0
0
0
·o
0
0
931
0
5918
0
0
0
0
0
0
0
0
0
0
D
0
0
0
0
0
0
0
0
0
0
2570
4005
0
0
2837
210
0
0
0
0
0
0
0
161
OIF
131-151
422
411
2922
2695
2965
849
2387
1189
5111
7932
4081
10525
519
3186
507
H30
1085
1007
968
2989
1197
1426
2899
H2
4621
839
1708
1004
5584
429
1251
9~6
3125
8374
8546
422
0
7749
5056
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692
1015
947
1729
1411
987
••
•
•
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•
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••
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••
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•
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•
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•
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....0
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY HODIF IED H.R. 1
HE•BER BANKS
DSB
6120805
6120810
6120818
6120819
6120820
6120821
6120840
6120849
6120865
6120874
6120876
6120881
6120892
6120801
tl20900
6120902
6120903
6120006
61209,J9
6l20'H5
6120927
6120029
6120<)32
6l20<H 7
6120950
6l20G68
til 20976
6120917
6I209H
6120988
6120001
6120999
6121010
6121015
6121025
6121030
6121050
6121066
6121067
6121068
6l2107't
6121015
6121092
6121093
6121094
6121095
NAME
111
TDEP
LOCATION
FIRST AM BK OF LAKE WORTH NALAKE WORTH
IS T HRNE NB t Tt OF LK WORTHLAKE WORTH
CITIZENS NAT BK OF LEESBURG LEESBURG
EXCHANGE NB OF LEE COUNTY
LEE COUNTY
SUN f IRST NB OF LEESBURG
LEESBURG
CITY NB Of LAUDERHILL
LAUDERHILL
FIRST NAT BK Of LIVE OAK
LIVE OAK
MELBOURNE
SUN FIRST NB OF MELBOURNE
MA I TL AND
SE FIRST NB OF MAITLAND
WESTSIDE NB OF MANATEE CTY MANA TEE COUNTY
NATIONAL BANK OF COLLIER CTYMARCO ISLAND
FL CST BK OF CORAL SPGS NA MARGATE
tlOBE SOUND NATIONAL SANK
HARTIN COUNTY
LANDMARK BK OF MELBOURNE NA l'ELBOURNE
FLAGSHIP BK OF MELBOURNE NA MELBOURNE
MIAH!
BCULEVARD NAT BK Of MIAMI
FIRST NATIONAL BK Of 8REVARDMERRITT ISLAND
CITV NATIONAL BANK OF HIAHI MIAMI
CfNTRAL NAT BK OF MIAMI
MIAMI
MIAMI
BARNETT BANK OF MIAMI NA
CONJ HlENTAL NAT BK OF HJAHJ MIAMI
OAOELMIO NATIONAL BANK
MIAMI
FIRST STATE BANK. OF !1UP'll
l'!lAMI
fLAGSttlP US OF MIAMI
"IAMI
MIAMI
FLORIDA NAT BANI( OF HIAMl
HI A~I NAl IOt~AL BANK
Ml ~HI
PEOPLES OCWNTOWN NAT BANK
M1AM I
ROYAL TRUST BK OF MIAMI NA MIAMI
MIAH!
REPUBLIC NAT BAMK Of MIAH!
SOUTHEAST 1ST NB OF MIAMI
MIAH!
MIAMI
CO~Al
OF
BANK
'4AT
SOUTHEAST
JEFFERSON NB OF HI AHi BEACH MIAMI BEACH
FLAGSHIP 1ST No Of ~I AHi BCHHIAMI BEACH
PEOPLES FIRST NATIONAL BANK HIAHI SHGRES
SOtJit1EAST FIRST N 8 OF HIAHIHIA~I SPRINGS
CENTURY NAT BK OF SA~TA ROSAHILTON
FIRST NU BK OF MOUNT DORA MOUNT DORA
NAPLES
CITIZE~S NATIONAL BANK
SOUTHEAST NAT BK OF NAPLES NAPLES
NAPLES
FIRST NAT BANK & TRUST CO
NOPTH FJFl.'H BANK
NORTH FORT HYERS
ELLIS 1ST NB OF NEW PT RCHEYNEW PORT RICHEY
NORTH MIAMI
PEOPLES AMERICAN NAT BANK
SECOND NAT PK OF NORTH MIAHINORTH MIAMI
PEOPLES FIRST NATIONAL BANK NORTH KIAH! BEACH
SECOND NAT BK OF N HIAHI BCHN MIAMI BEACH
1111119
121
VLTCSH
131
1911
REQBAL
fl
16528
651
2904
Fl
101001
53065
61822
74725
29108
35232
44178
55218
48816
29137
34228
16556
29824
45957
65852
39705
344499
35656
263160
25706
35771
128356
101500
212465
76562
35507
117676
150424
1409703
708H
82724
215043
47573
86644
23024
29250
53962
1138
3551
1924
1183
2232
Fl
FL
FL
FL
Fl
FL
fl
fl
FL
FL
fl
fl
fl
FL
FL
FL
FL
FL
fl
fl
fl
fl
FL
FL
fl
FL
rL
FL
fl
FL
fl
FL
fl
Fl
FL
Fl
fl
FL
fl
FL
FL
fl
FL
fl
36686
94358
15032
94974
30758
59358
20733
32096
509
915
1594
1168
949
906
442
457
661
542
200
497
1119
585
448
8325
610
4038
416
1218
3018
2217
3046
506
824
1385
2473
485
503
1444
2375
1991
954
1491
518
940
1404
3093
1267
14666
1331
12165
985
1263
4206
5036
7789
3784
1493
5056
6425-
10940
12513
911
3219
729
2497
608
955
1103
257
461
495
1086
299
4101
1747
531
1296
317
Hi
8961
2189
5658
39
1095
2035
1308
4114
318
2170
1271
2715
910
1413
HI
NEW
EPA
lHO
llH
748
285
854
0
0
125
967
629
D
263
0
0
0
1644
76
5318
22
5075
0
0
2512
2833
5933
2378
192
3439
4672
5246
1887
2854
4885
1022
3590
0
61
673
44
2311
0
827
62
1238
0
136
151
NEW
RfQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5Ul
0
3918
0
0
0
0
376
0
0
0
0
53202
0
0
1225
0
0
0
0
0
0
0
0
0
0
0
0
0
161
DIF
131-151
2904
3551
1924
1183
2232
485
503
14H
2375
1991
954
1491
518
940
1404
3093
1267
9205
1331
8247
985
1263
4206
5036
7413
3784
1493
5056
••
•
••
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•••
••
•
••
•
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•
•
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6425
19371
3219
4707
7736
2189
5658
39
l095
2035
1308
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378
2170
1271
2715
910
1413
•
•
••
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•
••
•
•
•
~
0
CJi
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. l
HEH3ER BANKS
DSB
6121087
6121091
6121093
6121100
6121112
6121140
6121142
6121147
6121150
6121153
6121163
61Zll18
61Zll80
612 1182
61Zll87
-6121190
6121203
61Zl210
6121215
6121230
6121255
6121270
6121275
6121279
6121261
61212qo
6121316
6121321
6121341
6\2IH2
6121346
6121350
6121356
6121360
6121366
6121370
6121378
6121396
6121397
61214]2
61214J6
6I214H
61214QS
6121413
6121415
6121421
NAME
LOCATION
COUNTY NB OF N HIAHI BEACH NORTH HUH! BEACH
OCALA
BARNETT BANK OF OCALA NA
PAN AMERICAN BK OF BROWARD OAKLAND PARK
FLORIDA FIRST NATIONAL BANK OCALA
OCALA
SUN SANK OF OCALA
ORLANDO
SUN FIRST NB OF ORLANDO
ORLANDO
PAN AH SANK Of ORLANDO NA
SOUTHEAST NAT BK OF ORLANDO ORLANDO
ORLANDO
FLORIDA NAT BK Of ORLANDO
FLGSHP I ST NB Of OR~ONO BCH ORMOND BEACH
ATL ANT IC NAT BK Of PALATKA PALATKA
PALM BEACH
ROYAL TR 6K Of PALM SCH NA
FIRST NAT BK IN PALM BEACH PALM BEACH
FIRST NB Of PALM BCH GAROENSPALH SCH GARDENS.
PALM SPRINGS
FIRSI MARINE NAT BK
BAY NATIONAL BANK ANO TRUST PANAMA CITY
PANA HA CITY
FIRST NATIONAL BANK
PENSACOLA
CITllENS t PEOPLES NAT BK
CEIITURY NAf BK OF PENSACOLA PENSACOLA
FLO~IOA FIRST NAHONAL SANK PENSACOLA
PLANT CI TY
FIRST NAT 5K IN PLANT CITY
PO~PANO BEACH
FIDELITY NATIONAL BANK
POMPANO BEACH
f IP ST NB OF BROWARD COUNTY
PORT ORANGE
HALIFAX NATIONAL BANK
BARSETT SANK OF PT CHARLOTTEPORT CHARLOTTE
FISST NATIONAL BANK
PUNT A GORDA
FIRST NATIONAL BANK t TRUST RIVIERA BEACH
BARNETT BANK OF ST AUGUSTINE ST AUGUSTINE
BARNETT BK Of. ST PETERSBURG ST PETERSBURG
ST PETERSBURG
BK Of Fl IN ST PETERSBURG
ELLIS NAT SK Of ST PETRSBURGST PETERSBURG
CENfURY 151 NS IN ST PTRSBRGST PETERSBURG
FLAGSHIP BK Of ST PETES NA ST. PETERSBURG
FLORIDA NB AT ST PETERSBURG ST PElERS6URG
ST PETERSBURG
NAT BANK OF ST PETERSBURG
LND•~K Ul8 Of sr PTRSSG NA ST PETERSBURG
ATLANTIC NU SK Of SANFORD S ANFORO
SARASOTA COUNTY
NATIONAL BANK GULF GATE
SARASOTA
,rA Tl ONAL BANK Of SARASOTA
SE BANK Of VIL LAGE PLAZA NA SARASOTA COUNTY
SARASOTA
SE BANK OF SIESTA KEY
SARASOTA
S E FIRST 1-1B OF SARASOTA
SARASOTA
POPULAR BK Of SARASOTA NA
SE FIRSf N5 OF SATELLITE 8CHSATELLITE BEACH
SEBRING
FIRST NATIONAL SANK
SEMINOLE COUNTY
SUN SANK Of SEH Hll)l E NA
Fl
Fl
FL
fl
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fl
Fl
FL
Fl
Fl
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fl
Fl
fl
Fl
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Fl
fl
fl
fl
fl
fl
fl
fl
fl
fl
FL
Fl
fl
fl
fl
FL
fl
Fl
fl
Fl
fl
fl
Fl
fl
FL
Fl
Fl
FL
fl
llll/19
111
IZI
TDEP
VLTCSH
131
1911
REQBAL
49759
1060
77312
21161
31770
927H
477276
80654
332H
69435
62471
42546
30039
192 786
16521
25798
58425
22171
52731
35794
66214
34260
20770
201085
18855
21203
56092
86479
39443
53286
19076
46293
175234
87144
103348
58104
330216
37344.
65830
72874
22405
25977
97467
17656
22955
35826
31284
896
2375
3170
491
121
867
697
1580
12336
1104
3845
16730
564
1357
51,9
887
505
2163
308
723
1583
564
1060
568
3267
571
363
4041
559
340
840
912
990
870
535
496
4270
1601
3819
1152
1412
820
1173
1631
426
276
1610
327
543
297
1022
3554
983
2507
2401
1386
H3
10129
460
529
1736
386
2496
1283
824
'HI
879
8050
318
597
2153
3688
1141
1667
316
1529
3318
3057
1175
1856
7356
1091
1746
2461
560
903
31H
371
729
1217
517
141
HEio
EPA
771
1479
D
0
2035
5195
1921
0
11'10
892
27
0
5101
0
0
337
0
892
0
0
0
Q
4946
0
0
5H
2108
0
254
0
203
1031
1241
72
420
4962
0
285
732
0
0
1345
0
0
55
0
151
NEW
AEQBAL
0
0
0
0
0
6199
0
0
0
0
0
0
2421
0
0
0
0
0
0
0
0
0
253
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(61
Dlf
131-151
2375
3170
727
697
3845
10531
3554
983
2507
2401
1386
743
7708
460
529
1736
386
2496
1283
824
931
879
7797
318
591
2153
3688
1141
1667
316
1529
3318
3057
1175
1856
7356
1091
1746
2461
560
903
3131
371
729
1217
517
•
••
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•
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• ~
•
•
••
•
•••
•
•
••
•
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•
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.
MEMBER BANKS
1/17179
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
0
~
NAME
DSB
0
__,
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6121424 FIDELITY NB OF SOUTH HIAHI
6121425
6121426
61214'0
6121442
6121448
6121450
6121455
6121469
6121410
6121476
6121479
61214d0
6121490
6121492
612IS02
6121520
6121525
6121530
6121541
6121542
6121555
6121556
bl2159.5
6I215.S
6121620
6121626
61216]0
6l2l665
6121670
6121686
6121690
6121693
6121698
6121704
Of
111
TDEP
LOCATION
SOUTH HIAHI
FIRST NAT BK OF SOUTH MIAMI SOUTH MIAMI
SE N9 OF ST PETERSBURG
SOUTH PASADENA
FIRST NAT BANK t TRUST CO
STUART
STUART NATIONAL BANK
STUART
JEFFERSON NB AT SUNNY I SL ES SUNNY ISLES
CAP CY 1ST NB OF TALLAHASSEETALLAHASSEE
I NOUS T• I AL NATIONAL BANK
TALLAHASSEE
BARNETT BA,JK OF TAMPA NA
TAMPA
BROADWAY NlT BANK Of TAMPA TAMPA
COLU,BIA BANK OF TAMPA
T AHPA
ELLIS NATIONAL BK OF TAMPA TAMPA
EXCHANGE NAT 81\NK OF TAMPA TAMPA
f IR51 NATIONAL BK OF FLORIOATAMPA
TAMPA
FLAGSHIP BANK OF TAMPA
METROPOLITAN BAN~ t. TR CO
TAMPA
PAN AMERICAN BK Of TAMPA NA TA"1PA
SECONO NAT BK OF TAMPA
TAMPA
ELLIS FIRST NB IN TARPON SPGTARPON SPRINGS
FIRST NAT BANK Of THE UPPER TAVERNIER
1ST ~RNE NBLTC JUPITER
TEQUESTA
FLGSHP 1ST NB OF TITUSVILLE TITUSVILLE
FLORIDA NAT BK AT TITUSVILLETITUSVILLE
FIRST N4 T IONA,L BANK
VEN ICE
FLORIDA FIRST NB AT VERO BCHVERO BEACH
ATLANTIC NB OF WEST PALM 8CHWEST PALM BEACH
FLAGLER NB OF THE PALM BCHS WEST PALM BEACH
FIRST NB OF PALM BEACH CTY WEST PALM BEACH
SUN 9ANK OF WILTO~ MANORS NAWILTON MANORS
FIRST NB OF WINTER GARJEN
WINTER GAROtN
BAR'JETT BK OF E POLK CTY NA WINTER HAVEN
EXCHANGE NB OF WINTER HAVEN WINTER HAVEN
WINTER HAVEN
FIRST NB OF WINTER HAVEN
Ba,lETT BK OF ORLNOO/W PK NA WINTER PARK
WINTER PARK
WINTER PARK NATIONAL BANK
203 BANKS AFFECTED IN STATE
83
I 02
Fl
Fl
FL
Fl
Fl
Fl
Fl
Fl
Fl
Fl
Fl
FL
Fl
Fl
Fl
Fl
FL
Fl
FL
FL
fl
FL
FL
fl
FL
Fl
FL
FL
FL
FL
Fl
FL
FL
fl
FL
39267
118597
76958
28950
94265
19222
46804
43117
29083
28999
281244
394193
115315
121569
61019
55467
54707
25442
53883
34508
20995
91075
32608
71985
21347
23292
52566
23844
68076
98035
21846
163580
17425
131
1977
REQBAL
10
NEW
EPA
982
0
977
3403
462
1396
1442
H51
1938
92
2529
832
2744
1213
3129
438
249
H5
1482
476
164
864
562
689
1366
564
967
10601
9462
3033
5363
15-91
4697
10193
2142
899
1285
845
320
389
730
HO
403
966
1479
3522
258
810
1041
278
1183
1528
421
3160
305
614
151
NEW
REQBAL
161
OIF
131-151
982
0
0
3403
0
1442
0
4351
1338
0
2744
0
0
0
0
0
0
0
0
1213
3129
438
864
1306
1637
0
0
211
0
0
5602
5033
1377
2744
169
0
2939
1956
531
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2149
1748
765
689
890
2326
1480
636
3317
206
1328
763
400
1998
879
2440
3280
510
5476
501
0
855
226
0
h89
0
0
0
0
653
0
756
1783
0
3H6
0
614
967
7863
9293
3033
3407
1591
2149
1148
890
2326
1480
636
3317
206
1328
763
400
1998
819
2440
3280
510
5416
501
••
•
•
•••
••
•
• ....
•• ~
•
•••
••
•
•
••
•
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
---------------------------------------------------6130105 FIRST NATIONAL BK OF ALBANY ALBANY
ATHENS
6130210 F IP ST NAT BANK OF ATHENS
6130240 CITIZENS TRUST BANK
ATLANTA
25964
69461
121
Vl TCSH
--------------------------------------------------
GA
32612
GA
GA
64023
3H57
680
1002
543
1015
0
3190
1648
1503
333
0
0
0
1015
3190
160
•••
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MOOIFIEO H.R. 1
MEMBER BANKS
DSB
6130257
6130260
6130270
6130290
6130330
6130335
6130340
6130390
6130410
6130550
6130560
6l30t.50
6130715
6130720
6130730
6130740
6130900
6130910
6130950
6131040
6131120
6131140
6131400
6131470
6!31560
6131510
6131650
6131645
6131950
6131%0
6132040
6132110
6132125
6132180
6132310
6132360
6132420
6132565
6132720
6132730
6132810
6132870
6132892
6132936
6133170
6133280
NAME
111
TDEP
LOCATION
ATLANTA
FIRST GEORGI A BANK
ATLANTA
FIRST NAT BANK OF ATLANTA
FULTON NAT BK OF ATLANTA
ATLANTA
tlA Tl ONAL BANK OF GA
ATLANTA
TPUST COMPANY BANK
ATLANTA
AUGUSTA
FIRST NB&TR CO OF AUGUSTA
AUGUSTA
GEORGIA RAILROAD BK&TR CO
BAINBRIDGE
FIR ST ST NB Of BAINBRIDGE
BARNESVILLE
FIRST NB OF BARNESVILLE
A/1 NAT BK OF BRUNSWICK
BRUNSWICK
FIRST NAT BK OF BRUNSWICK
BRUNSWICK
ClLHOUN FIRST NATIO~AL BANK CALHOUN
S GECRGIA NB OF CARROLLTON CARROLL TON
FIRST NB OF CARTERSVILLE
CAPTERSVILLE
C011SERC I Al NATIONAL BANK
CEDARTOWN
FIRST NAT BK OF POLK COUNTY CEDARTOWN
COLUMBUS
FIRST NAT BK OF COLUMBUS
NB & TR CO Of COLUMBUS GA
COLUMBUS
FIRST NAT BANK CF COMMERCE
CCHMERCE
FIRST NB OF HABEkSHA/1 CTY
CORNELi A
FIRST NAT BK OF PAULO I NG CTYOALLAS
FIRST NAT BK OF DALTON
DALTON
FIRST NAT BK IN ELBERTON
El8E~TON
NAT BK OF FITZGERALD
FITZGERALD
FIRST NB OF GAINESVILLE
GA IUESV ILLE
GAINESVILLE
GAINESVILLE NATIONAL BANK
GR I FF IN
FIRST NAT BANK Of GRIFFIN
FIRST NAT BANK OF WAYNE CTY JESUP
BRA.~rn BANKING CO'1PANY
LAWRENCEVILLE
FIRST NB OF GWINNETT COUNTY LAWRENCEVILLE
FIRST NAT BANK OF LOUISVILLELOUISVILLE
FIRST NAT gK ANO TR CO
MACON
FIRST NAT OK OF HCOOtWUGH
MC OONOUGH
FIRST NAT BANK OF COBB CTY
HARi ETTA
NATIONAL BANK OF WALTON CTY MONROE
MOULTRIE NATIONAL BANK
MOULTRIE
FIRST NAT RK OF N/'WNAN
NEWNAN
FIRST NAT BK OF HCUSTON CTY PERRY
FIRST NAf BK OF ROHE
ROHE
NATIONAL CITY BANK OF ROHE
ROHE
Cl Tl ZENS & SOUTHERN NAT BK
SAVANNAH
SAVANNAH
SAVANNAH BANK ANO TR CO
TR CO GA BK SAVANNAH NA
SAVANNAH
TRUST CO BANK OF COBB CTY NASHYRNA
'f I RST NAT BANK Of THOMSON
THOMSON
FIRST NAT BANK Of VALDOSTA VALDOSTA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
91867
l373095
582850
310733
926168
83642
278543
21708
19839
67504
68187
54155
21526
H287
24076
21321
146964
75330
21753
35212
l6765
82754
26738
18976
100714
64642
35745
18316
25864
55176
17979
136720
28148
112636
29307
41614
34085
18540
66877
80913
2009940
208650
10154 7
25232
26793
37306
1111/19
121
VLTCSH
794
15690
7854
3479
8019
2430
6488
372
338
1383
l B94
465
625
691
772
411
3030
2486
268
463
302
1441
495
329
1252
1682
778
424
429
541
281
H27
335
3504
409
418
409
511
1451
2410
27929
5138
1990
593
393
712
131
1911
REQBAL
5680
796H
28888
15671
50785
2430
8644
689
548
2400
1844
2389
566
1691
392
705
5361
1817
840
1054
407
3745
778
b62
•038
1369
869
359
736
2026
604
3993
1034
3884
989
2110
1342
520
2165
2090
101110
6~37
4232
590
847
965
141
NEW
EPA
3893
5262
5222
4857
5214
909
5183
0
0
869
501
869
0
•59
0
0
3518
193
0
0
0
1868
0
0
2H7
2U
0
0
0
619
0
2002
0
1342
0
711
13
0
577
491
5204
4872
2228
0
0
0
151
NEW
REQBAL
0
50645
16597
6377
33546
0
1061
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
62541
0
0
0
0
0
161
Dlf
131-151
5680
29029
12291
9294
17239
2430
1577
689
548
2400
1844
2389
566
1691
392
705
5361
l 817
840
1054
407
3745
778
662
4038
1369
869
359
736
2026
604
3993
1034
3884
989
2110
1342
520
2165
2090
38569
6637
4232
59Q
847
965
•
•
•
•
••
•
••
••
•
•
••
•
•
•
•••
•
•
••
•
•
•
••
•
1--'
0
00
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BANKS
DSB
NAME
6l3Ul5
6133390
613l390
6133410
OF
FIRST NAT BK £ TR CO
FIRST NAT BANK IN WAYCROSS
BAl'IK OF WAYNESBORO
FIRST NAT BK OF WEST POINT
LOCATION
VIDALIA
WAYCROSS
WAYNESBORO
WEST POINT
53 BANKS AFFECTED IN STATE
25
22
12150032 BANK OF HONOLULU-NA
12150067 HAWAII NATIONAL BANK
OF
1/17/79
BENEFIT TO 84NKS COVERED BY HOOi F IEO H.R. 7
GA
GA
GA
GA
HI
HI
l
1
IZI
YLTCSH
1830
2"756
23790
30368
379
419
393
559
131
1977
REQBAL
504
940
698
1123
141
NEW
EPA
151
NEIi
REQBAL
0
0
0
0
0
0
0
161
DIF
131-151
·O
504
940
698
1123
0
0
757
2460
1921
0
23585
32007
0
0
0
0
9378
764
12372
15757
701
920
3515
1677
••
•.
HAYE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAYE NO REQUAED RESERVE BALANCE
HONOLULU
HONOLULU
2 BANKS AFFECT ED IN STATE
111
TDEP
2"728
106783
368
3332
757
2460
0
812
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUAED RESERVE BALANCE
~
12160040
12160045
12160060
12160070
12160100
12160210
12160430
12I6DH0
OF
BANK OF I0AHC N A
BOISE
CITIZENS NATIONAL BANK OF IDBDI SE
FIRST SEC BK OF I0AH0 NA
BOISE
IDAH0 f IRST NATIONAL BANK
BOISE
FARMERS NATL BK DF BUHL
BUHL
IDAHO STATE BANK
GLENNS FERRY
TWIN FALLS 8A~K AND TR CO
TWIN FALLS
FIRST NB OF NORTH IDAH0
WALLACE
8 BANKS AFFECTED IN STATE
3
2
ID
ID
ID
ID
ID
ID
10
ID
382212
30043
876708
1151651
1947 l
28187
78546
41567
5B2't
615
8369
9673
182
355
1049
501
11305
764
35957
53764
701
920
3515
1677
50B1
0
4973
5003
0
0
1884
348
0
•
•.
.
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT DR REQUIRED RESERVE BALANCE
HAYE NO REQURED RESERVE BALANCE
-------------8170050
7170060
7170120
8170130
8170150
7170170
8170190
7110220
CITIZENS NAT BK DF ALBION
NATIONAL BANK OF ALEDO
FAR~ERS STATE UNK Of ALPHA
FIRST NAT BK IN ALTAH0NT
FIRST NAT BK AND· TR CO
FIRST NAT BK IN AMBOY
AN~A NATIONAL BANK
FIRST NAT BANK OF ANTIOCH
ALBION
ALEDO
ALPHA
ALTAHONT
ALTON
AMBOY
ANNA
ANTIOCH
IL
IL
IL
IL
IL
IL
IL
IL
337"7
45931
14881
23170
73867
1553"
24383
35423
255
167
103
156
732
252
366
529
1237
1712
4U
735
3052
406
132
776
0
343
0
42
1448
0
0
HO
0
O·
0
0
0
0
0
0
1237
1712
46't
735
3052
't06
732
776
••
•
.
•
•
••
(0
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BANKS
BEIIEF IT TO BANKS COVERED BY '1001 F IE0 H.R. 1
Ill
DSB
7170240
7170?88
Tl103I0
7170450
71T0460
Tl 70410
71104 75
7110510
7170570
Tl70580
8110635
8170650
7170666
Tl70130
7170133
•7110110
7170800
11708\ 0
7170820
8170850
s11oeqo
8 IT0900
1110n a
7170968
7171100
8171120
Bl71130
8171\40
8171170
Bl7ll80
Bl71I90
8171220
1171270
81 71293
8171310
7171333
7171340
7171360
7171390
7171395
7171405
,171430
B 171440
Tl71471
7111490
7171491
NAME
FIRST NAT BANK OF ARCOLA
LOCATION
ARCOLA
FIRST ARLINGTON NAT BK
ARLINGTON HEIGHTS
STATE BANK OF ARTHUR
ARTHUR
AURO•A ~ATIONAL BANK
AURORA
MERCHANTS NAT BK OF AURORA AURORA
OLU SECOND NB OF AURORA
AURORA
AURORA
VALLEY NlT I ONAL BMJK
BARRINGTON
1ST NB & TR OF BARRINGTON
FIRST N8 OF BATAVIA
BATAVIA
FIRST NB OF BEARDSTOWN
BEAR0STCWN
BELLEVILLE NAT SVGS BK
BELLEVILLE
FIRST NAT BK Of BELLEVILLE BELLEVILLE
BELVIDERE NAT BK & TRUST CO BELVIDERE
BER.iYN NATIONAL BANK
BERWYN
C0MSER ICAL NO OF BER WY~
BERWYN
A~rnlCA~ STATE BANK
BLOOM I NG TON
NATIONAL BANK OF BLOOMINGTONBL0O•INGTON
PEOPLES BANK OF BLOOMINGTON BLOOMINGTON
FIRST NB OF BLUE ISLAND
BLUE I SL AND
SANK Of BLUFFS
BLUFFS
STATE PAN~ Of BREESE
BREESE
FIRST NAT BK OF BRIDGEPORT
BRIDGEPORT
FIRST NAT BK OF BROOKFIELD BROOKFIELD
BUFFALO GROVE NATIONAL BANK BUFFALO GROVE
NA Tl 0NAL BANK OF CANTON
CANTON
FIRST NB t TR CO
CARBONDALE
CARLINVILLE NATlmlAL BANK
CARLINVILLE
FARSERS ANO MERCHANTS NAT BKCARLINVILLE
FIRST NAT BK IN CARLYLE
CARLYLE
FIRST NAT BK OF CARMI
CARMI
NATIONAL BANK Of CARMI
CARHI
GREENE COUNTY NATIONAL BANK CARROLLTON
CASEY NATIONAL BANK
CASEY
FIRST NATIONAL BA~K & TR co CENTRALIA
OLD NAT BK OF CENTRALIA
CENTRAL IA
AMERICAN NB Of CHAMPAIGN
CHAMPAIGN
CHAMPAIGN NATIONAL BANK
CHAMPAIGN
FIRST NAT BK IN CHAMPAIGN
CHAMPAIGN
CHA~LESTON NATIONAL DANK
CHARLESTON
COLES COUNTY NAT BANK
CHARLESTON
NATIONAL BANK OF CHENOA
CHENOA
BUENA VI STA NB OF CHESTER
CHESTER
FIRST NAT BK IN CHESTER
CHESTER
ALBANY BANK & TRUST CO NA
CHICAGO
AMERICAN NAT BANK ANO TRUST CHICAGO
ARCHER NATIONAL BANK
CHICAGO
TOEP
1/17/19
121
VL TCSH
131
1911
REOBAL
IL
ZZ5l9
177
771
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
81726
Z79Z6
75260
98281
9B74l
I 1402
120478
25996
20802
118938
148760
48554
37479
10721
44678
65415
61399
111617
15668
16977
16332
16534
14731
56270
41544
35656
29901
29305
29267
23750
19176
21152
56869
60738
35544
103200
84976
53588
17060
18806
26456
23504
109713
1127520
29113
828
lH
2T~9
LOH
1223
1309
1298
666
1181
382
349
1356
1562
638
1146
2514
3419
4040
108
042
759
'80
894
709
536
1380
1581
80
162
367
199
363
772
674
190
325
320
270
• 135
174
Bl
766
695
1131
2453
1497
357
192
168
184
308
870
14596
765
4580
6021
1378
385
2297
1671
2843
1953
3282
553
490
348
494
232
1602
1367
IHI
957
845
1115
798
647
825
1730
2197
623
2988
2742
2269
521
599
960
669
3965
70180
586
l•I
NEW
EPA
0
150T
H
1212
2215
2300
0
3180
0
0
3298
4231
275
0
1023
262
1301
616
1435
0
0
0.
0
0
207
15
135
3
0
0
88
0
20
482
1051
0
1590
1331
857
0
0
51
0
2452
5602
0
151
IIEW
REOBAL
0
0
0
0
0
0
0
0
0
0
0
267
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
409
0045
0
161
0IF
131-151
171
2199
1043
25H
3479
4040
108
042
759
480
4580
5754
1378
385
2291
1671
28H
1953
3282
553
490
348
494
232
1602
1367
1441
957
845
1115
798
647
825
1730
2l97
623
2988
2742
2209
521
599
960
669
3556
22735
586
•
••
•
•
•
••
•
•
.••
•
•
•
•
•
•
••
•
•
•
•
•
••
•
....0....
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
MEMBER BANKS
Ill
DSB
717H9B
7171505
7171520
711\545
7171553
7171555
ll715b0
7171570
111I5qo
7171590
7171600
7171610
7171t.25
7171628
7171630
7171650
711\690
711\ 700
7171710
7171740
7111761
7111170
7171180
7171790
7171825
7171828
7171830
7111860
711\890
1171898
7171900
711\910
1111no
7171930
7171932
7171933
71 71900
7171965
7112000
ll 120)0
7112010
71720'5
7172060
7172080
Tl 72090
7172100
NAME
TDEP
LOCATION
BANK OF COMMERCE & INDUSTRY CHICAGO
BELMONT NAT BK OF CHICAGO
CHICAGO
CENrRAL NAT BK IN CHICAGO
CHICAGO
Cl TIZENS NAT BK OF CHICAGO CHICAGO
COLUMBIA NH BK OF CHICAGO CHICAGO
CHI UGO
COH-ERC IAL NB Of CHICAGO
CNrNENTL IL NStTC OF CHICAGOCHICAGO
COS.SOPOLITAN NS Of CHICAGO CHICAGO
DEVON BANK
CHICAGO
OISTRICT NAT BK Of CHICAGO CHICAGO
DREXEL NATL SANK
CHICAGO
DROVERS NAT BK OF CHIUGO
CHICAGO
EXCHANGE NAT BK OF CHICAGO CHICAGO
CHICAGO
FIRST COSHERCIAL BA>IK
FIRST NATL BANK Of CHICAGO CHICAGO
HARRIS TRUST ANQ SAVINGS SK CHICAGO
CHICAGO
LAKE SHORE NATIONAL SANK
LAKE VIEW rRusr & SVGS BANK CHICAGO
CIHCAGO
LA SALLE NATIONAL BANK
LINCOLN NATIONAL 8ANK
CHICAGO
CHICAGO
HAIN BANK Of CHICAGO
CHICAGO
HARJUErTE NATIONAL BANK
CHICAGO
MERCANTILE NB OF CHICAGO
CHICAGO
HERC HANOI SE NB OF CHICAGO
SICHIGAN AVE NB Of CHICAGO CHICAGO
CHICAGO
MIO AMERICA NB Of CHICAGO
CHICAGO
MIO ClrY NB OF CHICAGO
NATIONAL BANK Of AUSflN
CHICAGO
CHICAGO
NAT BLVD BK OF CHICAGO
NAr REPUBLIC BK UF CHICAGO CHICAGO
NAr SE CUR !TY BK OF CHICAGO CHICAGO
CHICAGO
NORTHERN rRUSr ccsPANY
CHICAGO
NORTH SHORE tlB OF Cl<ICAGO
NORfHWEST NB OF CHICAGO
CHICAGO
0 HARE INTEP.NATIOt/AL BK NA CHICAGO
CHICAGO
PARK NAr BK OF CHICAGO
SEARS BANK ANO rRUST CO
CHICAGO
CHICAGO
SEASAY NAr BK OF CHICAGO
CHICAGO
SOUTH SHORE NB Of CHICAGO
CHICAGO
SOUTH SIDE BANK
CHICAGO
STEEL CI TY NB Of CHICAGO
CHICAGO
UNl·JN NAr BK Of CHICAGO
UNIVERSITY NArlONAL BANK
CHICAGO
CHICAGO
UPTOWN NAT BK Of CHICAGO
CHICAGO HEIGHTS
CHICAGO Hrs NATIONAL BANK
FIRST NB IN CHICAGO Hrs
CHICAGO HEIGHTS
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
4429B
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HS
5056
5393
352
65164
549
128892
92BB32 I
58545
109975
34648
66326
208974
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9022131
3284568
205467
368096
649587
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63156
317694
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29914
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49211
621
475
1084
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4624
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86810
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1960
2106
9489
6074
780
1723
1138
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695
700
730
4243
604
1129
13526
969
5114
1312
1283
4368
1235
1273
484
657
535
349
919
658
923
87671
36758
70342
131
1977
REQBAL
1500
0
24453
llBO
2069
4512
454976
2725
4312
779
1485
5535
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2062
439437
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3452
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17501
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2971
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271
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0
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4250
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1535
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ME~BER BANKS
111
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7172130
7172170
7172180
7172250
7112270
8172310
6112330
8172340
7172405
7172470
7172490
1112490
7172510
7172515
7172520
1172555
7112560
7172570
71725B0
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7172670
7172690
71726q5
8172725
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7172760
7172810
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7112940
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71 730JO
7173100
7173105
7173110
7173135
717Jlb5
6173170
1/17/79
BENEFIT TO BANKS COVERED BY HODIFIED H.R. 7
NAME
LOCATION
FIRST NAT BK Of CHRI SHAN
CHRI SHAN
FIRST NAT BK Of CICERO
CICERO
CICERO
WESTERN NATIONAL BAM OF
FIRST NAT BK t TR CO
CLINTON
COAL CITY
FIRST NAT BK OF COAL CITY
F !OST NAT BK OF COLLINSVILLECOLLINSVILLE
COLUMBIA
FIRST NAT BK IN COLU~BIA
COLUMBIA
MONROE NAT 6K Of COLUHBIA
flRST NATIONAL BANK
CRYSTAL LAKE
DANVILLE
FIRST NAT BK OF DANVILLE
PAL,SER AMERICAN NATIONAL BK DANVILLE
OANV ILLE
SECOND NB OF DANVILLE
DECATUR
CITIZENS N4T BK OF DECATUR
FIRST NAT BK '(Jf DECATUR
DECATUR
MILLIKIN NAT BK OF DECATUR
DECATUR
FIRST NATIONAL BANK
DEERFIELD
OE KALB
OE KALB BANK
OE KALB
FIRST NAT BK IN OE KALB
TAZEWELL COUNTY NATIONAL BK DELAVAN
DES PLAINES NATIONAL BANK
DES PLAINES
FIRST NB OF DES PLAINES
□ ES PLAINES
CITY NATIONAL BK t JR CO
DIXON
01 XON NATIONAL BAIIK
DIXON
DOLTON
FIRST NATIONAL BANK IN
CITIZENS NB Cf OOoNERS GRVE OCWNE RS GROVE
oow ...,,ERS GROVE NATIONAL BANK OCWNERS GROVE
OU QUOIN NATIONAL BANK
OU QUOIN
OU QUOIN STAIE BANK
OU QUOIN
FIRST NAT BK OF DWIGHT
DWIGHT
NAT BK OF EARLVILLE
EARLVILLE
FIRST NB IN EAST PEORIA
EAST PEORIA
EAST ST LOUIS
FIRST NB AT EAST SJ LOUIS
EDWARDSVILLE
BANK OF EDWARDSVILLE
EDWARDSVILLE NO t TR CO
EDWARDSVILLE
EFFl~GHAH STATE BANK
HF INGHAM
FIRST NAT BK Of EFFINGHAM
EFF INGHAH
ELG I~ NATIONAL BANK
ELGIN
FIRST NAT DK OF ELGIN
ELGIN
UN I~-~ NATIONAL BK ANO TR
ELGIN
ELMHURST NATIONAL BA~K
ELHHURS T
FIRST NATIONAL BK ANO TR
EVANSTON
EVANSTON
NAT BK OF N EVANSTON
STATE NAT BANK
EVANSTON
FIRST NB OF EVERGREEN PK
EVERGREEN PARK
NAT BK OF FAIRBURY
FAIRBURY
FAIRFIELD NATIONAL BANK
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TOEP
IL
l 615lo
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107662
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19059
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109
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705
267
196
764
268
17B
373
943
1208
1511
2324
2253
2653
400
1607
1193
82
732
1454
388
505
499
1024
1303
333
275
331
89
554
930
400
639
504
494
466
25b8
529
2451
1877
229
1932
1539
239
203
I 31
1977
REQBAL
585
3H7
31H
659
526
1694
704
1315
714
4011
2lo91
3706
4198
4127
5395
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12-50
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16 72
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1303
753
631
1092
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2206
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1926
1648
2082
4666
2011
5522
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6916
7600
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2011
HI
NEW
EPA
151
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REQBAL
161
DH
131-151
0
0
585
1818
0
1999
0
0
0
2593
1236
2299
2642
2471
3547
19
55
164
0
402
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Federal Reserve Bank of St. Louis
BE"IEFIT TO BANKS COVERED BY MODIFIED H.A. 7
MEMBER 8A"IKS
OSB
7174510
111,520
8174550
8114560
7174690
71 74690
7l74710
7174720
7174726
8174730
8174750
7114170
7174818
7174820
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7175080
7175110
7115150
7175170
a115tao
8175200
8115250
7175305
1175310
7175313
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NAME
LOCATION
LA SALLE NATIO"IAL BANK
LA SALLE
LA SALLE STATE BA"IK
LA SALLE
LAWRENCEVILLE NATIONAL BANK LAWRENCEVILLE
PEOPLES NATIONAL BANK
LAWRENCEVILLE
FIRST NAT BK Of LIBERTYVILLELIBERTYVILLE
LIBERTYVILLE NATIONAL BANK LIBERTYVILLE
FIRST NB IN LINCOLN
LINCOLN
LINCOLN
STATE NB Of LINCCLN
FIRST NAT BANK
LINCCLNWOCO
flkST NAT BK Of LITCHFIELD LITCHFIELD
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LITCHFIELD NATIONAL 8A~K
HERITAGE 1ST NB Of LOCKPORT LCCKPORT
FIRST NATIONAL BANK
MCHENRY
MC HENRY
MCHENRY STATE BANK
PEOPLES NB OF MC LEANSBORO
MC LEANS80RO
MACOMB
CITIZENS NATIONAL BANK
UNION NB OF MACOMB·
HACOHB
MADI SON
FIRST NAT BK IN H"OISON
FIRST NB OF ,SANHAJTAN
MANHATTAN
HAR I SSA
HRST tlAT BK OF HARi SSA
DUL ANEY NAT BK OF HAR SHALL
HAR SHALL
HA SC GUT AH
FIRST NAT BK IN MASCOUTAH
MASON CITY
MASON CITY NATIONAL BANK
CENTRAL NB OF MATTOON
MATTOON
MATTOON
FIP.ST NATIONAL BANK
F (RST NB Of HAYWOOD
HA'f'WOOO
HELPOSE PARK
MELQ.OSE PARK NATIONAL BANK
MENDOTA
NHL BANK OF HENOOJA
METAMORA
FIRST NB Of ME TAHORA
,SEIROPOLIS
CITY NB OF METROPOLIS
NA f STA TE BK OF MEI kOPOLI S HETROPOLI S
FIRST NAT BK OF Hill STADT
HILL STADT
NCL I NE
FIRST NAT BK OF MOLINE
MOL I NE
MOLINE NATIONAL BANK
HOLi NE
SOUTHEAST NATIO•AL BANK
~Cl I NE
UPTO>N NH BK Gf MOLINE
c0••UNITY NATIONAL BANK
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717S350 NATIONAL BK Cf MONMOUTH
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7175400 G~U'WY COU..,TY NATIONAL BANK HORR IS
HOA TON
7175430 FIRST NAT BK UF HORTON
7175435
7175470
7175505
7175530
FIRST
MOU.IT
FIRST
FIRST
NAT 9K OF HORTON GROVEHORTON GROVE
CARROLL NATIONAL BANK HCUNT CARROLL
NATIONAL BANK
MOUNT PROSPECT
NB OF HOUNT PULASKI
HOUNT PULASKI
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
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IL
IL
IL
IL
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IL
IL
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IL
IL
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IL
IL
IL
IL
IL
1/17179
111
TOEP
121
VLTCSH
131
1917
REQBAl
41833
35365
17634
26579
69297
44625
37432
31606
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29688
58719
19768
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26405
43923
49934
17682
16934
16060
18294
11189
16%0
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2830
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862
628
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719
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527
833
671
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314
1011
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4'3
587
319
832
178
743
810
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138
145
182
172
83
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752
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1135
254
256
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1040
743
390
218
503
244
488
303
570
920
139
1520
117
141
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151
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0
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266
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Federal Reserve Bank of St. Louis
MEMBER BANKS
Ill
OSB
7175600
8175610
8175620
7175630
8175640
8175650
8175770
7175795
7175797
8175900
7175810
7175833
7175840
71 75847
7175865
7175900
8175930
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7176120
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7176170
7176190
7176230
7176240
7176260
7176270
7176290
7176300
7176315
7176325
7176340
7176350
7176360
81763~0
8176420
7176430
7176490
7176500
717651 d
7176550
7176570
8176565
l/ll/19
BENEFIT TO BANKS COVEREO BY MODIFIED H.R. l
NAME
TDEP
LOCATION
FIRST NB OF MUNDELEIN
MUNOELE IN
CITY NAT BK OF MURPHYSBORO MURPHYSBORO
FIRST N4T BK OF MURPHYSBORO MURPHYSBORO
NAPERVILLE
NAPERVILLE NAT BK t TR CO
FAR~ERS ANO MERCHANTS NAT BKNASHVILLE
FIRST NB OF NASHVILLE
NASHVILLE
FIRST NAT BK IN NEWTON
NEWTON
FIRST NB OF NILES ILLINOIS NILES
GCltF Hill STATE BANK ·
NII.ES
FIRST NAT BANK OF NOKOMIS
NOKOMIS
FIRST NAT BK CF NORMAL
NORMAL
FIR ST NB OF NORTHBROOK
NORTHBROOK
NAT BK OF NORTH CHICAGO
NOR TH CHICAGO
FS T NB t TR CO OF OAK BROOK OAK BROOK
FIRST NB OF OAK LAWN
OAKLAWN
OAK PARK JR ANO SVG BK
OAK PARK
FIRST NAT BANK Of OBLONG
OBLONG
FIRST NAT BK Of OFALLON
0 f ALLON
FIRST NAT· BK OF OGDEN
OGDEN
FIRST NAT BANK IN OLNEY
OLNEY
UNITED BK Of OGLE CTY NA
OREGON
FIRST NAT BK Of OTTAWA
on AWA
PALATINE NATIONAL BA-NK
PALA TINE
FIRST NATWNAL BANK OF PANA PANA
C(.TIZENS NAT BK OF PARIS
PAR! S
CITIZENS BANK ANO TRUST CO PARK RIDGE
FAR~ERS HRCH NB OF PAXTON
PAXTON
FIRST NATL BANK IN PAXTON
PAXTON
FIRST NB A~O TR CO Of PEKIN PEKIN
HERGET NATL BANK OF PEKIN
PEKIN
co~~ERICAL NB Of PEORIA
PEORIA
FIRST NAT BK OF PEORIA
PEORIA
PROSPECT NB Of P[ORIA
PEORIA
U~IVERSITY NB OF PEORIA
PEORIA
FIRST NAT BANK IN PERU
PlRU
FIRST NATL BK OF PET.ERSBURG PETERSBURG
NATIONAL BANK Of PETERSBURG PETERSBURG
FIRST NB IN Pl~CKNEYVILLE
PINCKNEYVILLE
FIRST NAT BANK OF PITTSFIELOPITTSFIELD
PLA!rlFIELD NATIONAL BANK
PLAINFIELD
PGLO NAT IOtlAL BANK
POLO
9ANK OF POHIAC
PONT !At
PONT I AC NAf IONAL BMIK
PONTIAC
CTNS FSI N~ OF PRINCETON
PRINCETON
FAR~ERS NB OF PROPHETSTWN
PROPHETSTOWN
QUINCY
BROADWAY NAT BK OF QUINCY
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18134
"2470
35284
25762
27761
84250
209041
25387
29345
15361
39601
l 9280
64813
37362
3llll
54350
354353
22270
22695
44427
82524
302990
l l 3975
37867
35617
30289
263'6
31300
21554
32895
31624
17532
41393
36563
74948
24957
40056
121
VL TCSH
461
1608
284
1258
236
194
326
686
707
111
494
326
456
118
697
2548
152
453
120
385
4 l',
851
668
256
813
1567
251
181
1581
1286
7732
1706
613
141
NEW
991
223
669
2130
468
651
973
2766
1407
695
1772
1170
676
1197
3423
7560
961
0
0
0
103
0
0
0
1677
134
0
436
280
0
75
0
0
0
0
0
0
0
0
0
0
0
0
1968
"841
0
100
504
1686
441
2917
1066
1042
2322
153B9
650
820
572
2899
7427
4 llZ
1009
719
720
EPA
REQBAL
0
0
1054
ll08
0
0
0
0
0
0
0
0
0
4996
1576
0
0
0
0
0
0
1378
4907
2356
0
0
0
0
9
0
0
352
0
1431
0
294
186
962
0
0
0
0
174
267
261
335
164
538
412
674
204
1173
69
678
1241
ll09
604
1326
1399
2705
835
0
0
0
0
157
1286
0
426
1469
141
785
583
151
NEW
131
1977
REQBAL
94
0
0
0
0
0
0
0
0
0
0
0
0
0
161
DIF
131-151
991
223
669
2130
468
651
973
2766
1407
695
1772
1170
676
1197
3423
6'52
961
700
504
1686
441
2917
1066
1042
2322
7813
650
B20
572
2899
7427
4112
1009
719
720
962
117J
678
1241
1109
604
1326
1399
2705
835
1469
••
••
•
••
•
••
•
•
•
.••
•
•••
.•
•
•
•
.•
••
••
•
...........
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVEREO BY MODIFIED H.R. 7
MEMBER BANKS
Ill
OSB
NAHE
HUNOELE IN
FIRST NB OF HUNOELEIN
CITY NAT BK OF HURPHYSSORO MURPHYSBORO
FIRST NAT BK OF MURPHYSBORO MURPHYSBORO
NAPERVILLE
NAPERVILLE NAT BK & TR CO
FARMERS ANO MERCHANTS NAT 8KNASHVILLE
817561jQ FIRST NS OF NASHVILLE
NASHVILLE
8175710 FIRST NAT BK IN N~WTON
NEWTON
l l 75795 FIRST NS OF NILES ILLINOIS NILES
71 75197 ~rJLF Hill STA.TE BANK
NILES
Bl 75~00 FIRST NAT BANK OF NOKOMIS
NOKOHI S
NOR HAL
7175810 FIRST NAT BK OF NORMAL
NORTHBROOK
7175833 FIRST IIB OF NORTHBROOK
Tl 75840 NAT BK OF NORTH CHICAGO
NORTH CHICAGO
7175847 FS T NB t TR CO OF OAK BROOK OAK BROOK
OAKlAWN
7175865 FIRST NB OF OAK LAWN
OAK PARK
7175•Jo OAK PARK TR ANO SVG BK
8175930 FIRST NAT BAf<K OF OBLONG
OBLONG
0 f ALLON
8175940 FIRST NAT BK OF O FALLON
7175950 FIRST NAT BK OF OGOEN
OGDEN
OlNEY
8176000 FIRST NAT BANK IN OLNEY
OREGON
7176070 UNITED SK OF OGLE CTY NA
OTTAWA
7176110 FIRST NAT SK OF OTTAWA
PALATINE
7116120 PALATINE NATIONAL BANK
7176160 FIRST NATIONAL BA'll< OF PANA PANA
PARIS
7176170 CITIZENS NAT BK OF PARIS
7176190 CITIZENS BANK ANO TRUST CO PARK RIDGE
PAXTON
7176230 FAR.SERS HRCH NB OF PAXTON
PAXTON
7176240 FIRST NATL BANK IN PAXTON
7176260 FIRST NB ANO TR CO Of PEKIN PEKIN
PEKIN
7176270 HERGET NATL BANK Of PEKIN
PEORIA
71762"0 COH•ERICAL NB OF PEORIA
PEORIA
7176300 FIRST NAT BK OF PEORIA
PEORIA
7176315 PROSPECT Na OF PEORIA
PEORIA
7116325 UtllVERSlTY liB Of PrnRIA
Pl RU
7176340 FIRST NAT BANK IN PERU
7176350 FIRST NATL BK Of PETER5aURG PETERSBURG
7176360 NATIONAL BANK OF PUERSBURG PETERSBURG
PlllCKNEYVILLE
8176380 FIRST NB IN PINCKNEYVILLE
el76420 FIRST NAT BANK OF PITTSFIELOPITTSFIElO
PLAINFIELD
7176430 PlAINflHO NATIONAL BANK
POLO
7176490 PGLO NAT IOtlAL BANI<
POtll IAC
7176500 BAN< Cf PONTIAC
PONT !AC
1176510 PONTIAC NATIONAL BAtlK
PRINCETON
7176550 CTNS FST NB CF PRINCETON
PROPHETSTOWN
7l 16570 FAR SERS NB OF PROPHETSTWN
QUINCY
8176585 BROADWAY NAT BK Of QUINCY
7!75600
8175610
8175620
ll 75630
8175640
TOEP
LOCATION
ll
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
ll
IL
IL
ll
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
35164
H585
23865
69299
16035
l9H3
31403
86186
52'54
18134
42470
35284
25762
27761
8H50
209041
25387
29345
15361
39601
19280
64813
3 7362
31111
54350
354353
22270
22695
44427
82524
302990
113975
3 7867
35617
30289
26396
31300
21554
32895
31624
175 32
41393
36563
74948
24957
40056
121
Vl TCSH
461
1608
284
1258
236
194
326
686
707
111
494
326
456
118
697
2548
152
453
120
385
414
851
668
256
813
1567
251
181
1581
1286
7732
1706
613
785
583
186
lJI.
267
261
335
164
538
412
674
204
426
l/17179
131
1977
REQBAL
991
223
669
2130
468
651
973
2766
1407
695
1772
1170
676
ll97
H23
7560
961
700
504
1686
441
2917
1066
1042
2322
153 89,
650
820
572
2899
1 ♦1
NEW
EPA
0
0
0
703
0
0
0
1677
9
0
0
352
0
1431
0
294
1054
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1108
0
0
0
0
0
0
0
0
0
4996
7576
0
0
0
0
lH
0
436
280
0
75
1968
4841
1378
1421
4907
4112
1009
719
2356
0
0
120
962
1173
618
IHI
1109
604
1326
1399
2705
835
1469
151
NEW
REQBAL
0
0
69
0
0
0
0
94
157
1286
0
141
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
161
OIF
131-151
991
223
669
2130
468
651
973
2766
U07
695
1772
1170
676
l l 97
3423
6452
961
700
504
1686
441
2917
1066
1042
2322
7813
650
820
572
2899
7427
HI2
1009
119
720
962
1173
678
1241
1109
604
1326
1399
2105
835
1469
•
•
•••
••
••
•
•
••
.•
••
•
••
•
•
•
•
.•
.•••
•
••
•
.••
........
C11
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
HEHBER BANKS
DSB
1176650
8176680
8176690
7176770
8176810
7176820
7176845
7176850
7176855
7176857
7176860
7176865
7176871
7176875
7176R90
7176950
71709'0
7l7bS70
8177010
7177090
7177105
8177140
7177160
7177170
7177220
7177255
8177210
71773~0
7177110
7177320
8171350
8177360
7177H0
7177380
71 71400
7177410
7177440
7177450
717747C
7177490
7177507
7177610
7177700
7177710
7177730
8177760
BENEFIT TO BANKS COVERED BY H0DIFIE0
NAME
LOCATION
FIRST NAT BK OF RANTOUL
RANTOUL
RAYMOND
FIRST NAT BK OF RAYMOND
FIRST NAT BK OF RED BUD
RED BUD
RIVERSIDE NATIONAL BANK
RIVERSIOE
SECOND NAT BK OF ROBINSON
ROBINSON
ROCHELLE
FIRST NB & TC OF ROCHELLE
ROCK FALLS NATIONAL BANK
ROCK FALLS
ASERl(AN NAT BK AND TR CO
ROCKFORD
CITY NB & TR CO Of ROCKFORD RCCKFORD
FIRST NR & TR CO Of R0CKF0RDROCKFORD
ROCKFORD
ILLINOIS NB & TR CO
NO~ rn TOWNE NB OF ROCKFORD RCCKF0RD
UNITED BK OF ILLINOIS NA
ROCKFORD
FIRST NB OF ROCK ISLAND
ROCK ISLAND
ROCK ISLAND BANK
ROCK I SL AND
RUSHVILLE STATE BANK
RUSHVILLE
ST CHARLES
ST CHARLES NATIONAL BANK
ST CHARLES
STATE BANK OF ST CHARLES
SALEM NATIONAL BANK
SALEH
NATIONAL BANK OF SAVANNA
SAVANNA
FIRST NB OF SCHILLER PK
SCHILLER PARK
FIRST NAT BK IN SHA•~EE TOWNSHAWNEE TOWN
SHELBYVILLE
SrlELBY COU~TY STATE BANK
SHELBYVILLE
S~ELBY LOAN ANO TRUSt CO
SKOK I e
FIRST NAT BK OF SKOKIE
ASERICAN NATIONAL BANK
SO CHICAGO HEIGHT
SPART A
FIRST NAT BK OF SPARTA
FIRST NB OF SPRINGFIELD
SPRINGFIELD
SPRINGFIELD
ILLINOIS Na OF SPRNGFLD
SPRINGFIELD
SPRINGFIELD MARINE BANK
STAUNTON
FIRST NAT BK IN STAUNTON
FIRST NAT BK OF STEELEVILLE STEELEVILLE
STERLING
CE~TRAL NB OF STERLING
FIRST NB OF STERLING
STERLING
STILLMAN VALLEY NATIONAL BK STILLMAN VALLEY
FIRST NB OF STOCKTON
STOCKTON
STREATOR
STREATOR NATIONAL BANK
STREATOR
UNION NB OF STREATOR
FIRST NB OF SULLIVAN
SULLIVAN
NAT BK & TR CO OF SYCAMORE
SYCAMORE
FIRST NB IN TAYLCRVILLE
TAYLORVILLE
FIRST NB IN TOLEDO
TCLEDO
TUSCOLA
FIRST NAT BANK & TRUST CO
TUSCOLA NATIONAL BANK
TUSCOLA
URBANA
BUSEY FIRST NATIONAL BANK
FRMRS t HRCHT BK OF VANDALIAVAN0ALIA
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
,IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
~.R. 7
l / 17/19
111
TDEP
121
VLTCSH
23562
26012
22349
40404
33764
45432
25882
17673{,
86677
175615
IH90I
17613
82558
144181
87172
20188
22307
H926
55717
22285
20834
15055
21112
20375
22',869
41098
15 532
207648
192335
313182
26252
33642
75941
57153
694
21211
144Q0
62746
56245
20397
6D5l 9
2D760
20904
18841
28857
10123 7
25519
114
133
590
318
537
538
2041
1837
2258
1071
459
1394
1927
1946
102
457
472
646
254
196
160
138
283
1154
408
369
1790
3882
3551
448
216
1073
546
148
131
988
818
293
M9
295
135
178
336
1005
127
131
l'lll
RE0BAL
10
NEW
EPA
511
B87
818
1193
1204
lH3
567
6419
2255
6350
8252
25B
2253
4178
2D 18
975
551
1820
2109
583
791
386
962
H2
8725
1347
285
8141
4697
10866
181
1195
2731
1766
863
463
1837
1803
675
0
68
0
0
0
272
0
4187
1115
4409
5032
0
887
2385
384
0
0
546
677
0
0
0
0
0
2311
616
781
556
925
3866
1038
4290
319
0
4960
3007
4905
0
394
1156
494
154
0
188
482
0
1054
0
0
0
0
2369
0
151
NEW
REQBAL
0
0
0
0
0
0
0
55
0
0
1163
0
0
0
0
0
a
0
0
0
0
0
a
0
2815
0
0
934
0
2988
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
161
DIF
I 31-151
511
887
818
1193
1204
IH3
567
6364
2255
6350
7089
258
2253
4178
2018
~75
551
1820
2109
583
791
386
962
1H
5910
1347
285
7207
4697
1818
781
1195
2731
1766
863
463
l837
1803
675
2311
616
78 I
556
925
3866
1038
.•••
.••
•
••
••
•
•
••
•
•
•
•
••
•••
.•••
•
•
•
.....
.....
O')
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
MEMBER BANKS
NAME
DSB
8177770
1177850
1177860
717HIO
1111q,o
8178000
7178035
71780'7
7178040
7178050
8178070
7178120
7178140
7178180
7178260
71783,10
8178350
7178360
717B430
OF
111
TDEP
LOCATION
FIRST NAT BK OF VANDALi A
VANDALIA
VILLA GROVE STATE BANK
VILLA GROVE
VILLA PARK TR t SVGS 8K
VILLA PARK
WALNUT
CITIZENS FIRST STATE SANK
WASHINGTON
FIRST N.\TIONAL 'BANK
FIRST NAT BK OF kATERLDO
WATERLOO
WAUCONDA
WAUCONDA NATIONAL BANK
AMERICAN NBtTC Of WAUKEGAN WAUKEGAN
CITIZENS NHL BK OF WAUKEGANWAUKEGAN
fl~ST NAT BANK Of WAUKEGAN WAUKEGAN
FIPST NAT ~K CF WAYNE CITY
WAYNE CI TY
FIRST NATIONAL 8AIIK
WtST CHICAGO
FIRST NB OF WESTERN SPRINGS WESTERN SPRINGS
FIRST NS OF WESTVILLE
WESTVILLE
FIRST NB OF WILMINGTON
WILMINGTON
FIRST NAT BK OF WINNETKA
WltlNETKA
FIRST NAT BK OF SOOD RIVER
WCGO RI VER
FIRST NB OF WOODSTOCK
WOODSTOCK
YORKVILLE
YORKVILLE NATIONAL SANK
349 BANKS AFFECTED IN STATE
136
182
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
1/17/19
121
VL TCSH
131
1971
151
141
REQBAL
NEW
EPA
NEW
REQBAL
161
Dlf
131-151
40562
15589
445
1485
360
0
1485
156
503
46372
20936
21424
23694
31091
65292
13511
131
1454
0
421
0
0
1454
230
332
162
275
612
2223
1808
152
268
482
232
348
371
760
371
413
518
0
679
735
948
2212
0
122
122
1109
0
0
0
0
1814
144
621
936
716
1265
315
0
0
0
49868
25665
23073
37575
14617
26014
69928
49446
49176
31126
113
2820
IHO
1894
930
46
0
0
0
0
0
0
0
0
0
0
0
0
It.OB
417
694
0
0
0
503
578
679
735
948
2212
1814
621
936
716
1265
315
773
2820
!HO
1894
930
•
•
.•••
•••
••
••
•
•
.•
-:J
HAVE ND EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BAlANCE
---------------------------------------------------------------------------------------------------7180040
7180100
7180120
7180140
7180150
7180160
7180160
7180200
8leo2so
eIeo260
7180310
71A03l0
7180310
7180385
71804?.0
8180445
7180460
1100,,0
7180530
ALBION NATL BANK
FIRST NB OF MADISON CTY
FIRST NAT BK OF ANGOLA
CENTRAL NAT BK ANO TRUST co
AUBURN STATE BANK
CITY NATL BANK OF AUBURN
FIRST NATL BANK Of AURORA
co~"UNITY STATE BANK
'BEDFORD NATIONAL BAtlK
CI Tl ZENS NH 8K Of BEDFORD
BENTONVILLE STATE BANK
FIRST BANK Of BERNE
BLOOSINGTON NATIO~AL BANK
F JRST NB OF 8L00,'1INGTON
OLO FIRST NB IN BLUFFTON
WARRICK NATICNAl BANK
FIRST STATE BANK
RIDDELL NAT BK OF BRAZIL
FPANKLIN COUNTY NATIONAL BK
ALBION
ANDERSON
ANGOLA
ATTICA
AUBURN
AUBURN
AURORA
AVILLA
BEOFORO
BEDFORD
BENTONVILLE
BERNE
BLOOMINGTON
BLOO~INGTON
BLUFFTON
BOONVILLE
BOURBON
BRAZIL
BROOK VI LlE
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
15284
51806
29687
27239
33245
23451
29246
17816
58118
62784
17044
51533
22095
104
1051
439
546
1186
0
0
0
0
0
0
0
0
0
1494
752
3109
0
0
600
0
307
0
805
0
0
0
0
0
0
0
0
0
0
0
0
806
0
0
0
0
151
659
348
247
512
198
1261
921
258
343
1432
826
860
153
429
342
1124
1881
374
100101
3187
52621
37100
24214
62828
32627
564
1779
HI
395
128
541
214
1723
806
2141
308
1111
64
518
107
I--'
I--'
546
1186
806
659
1432
826
860
429
1124
1881
374
1494
752
3109
1779
1723
806
2141
1117
••
••
••
••
•
•
•
•
•
•
•
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BANKS
DSB
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NAME
111
TDEP
LOCATION
l/17/79
121
VL TCSH
131
HI
151
1977
NEW
EPA
NEW
REQBAL
REQBAL
7180540
7180555
7180610
7180630
8180660
8180710
7180720
7180790
7180810
71'0820
7180830
7180850
7180860
7190880
7180950
7180990
7181040
,7181070
7181090
7151140
7181190
8181260
7181270
8181280
8181330
8181350
7181370
7181410
7181460
7181470
7181570
8181585
7181600
7181615
7181620
7181690
11e 1110
7181720
7181790
7181630
7181850
7161875
7181950
8181960
71BlnO
7181980
PECPLES TRUST COMPANY
HENDRICKS COUNTY BK & TR co
KNISELY NAT BK OF BUTLER
WAYNE BANK AND TRUST ca
FIRST CAN•lELTON NAT BANK
FIRST BANK OF CHARLESTOWN
CHESTERTON STATE BANK
FIRST NB OF CLOYEROALE
CITIZENS NB OF WHITLEY CTY
FARMERS LOAN ANO TRUST co
FIRST NB OF COLUMBUS
CENTRAL STATE BANK
FAYETTE BANK ANO TRUST co
FIRST FARMERS NATIONAL BANK
FIRST NB&TC OF CRAWFROSVLE
FIRST NB OF CROWN PT
FIRST NO OF DANVILLE
FIRST STATE BK OF DECATUR
OEMOTTE STATE BANK
FIRST NB OF EAST CHICAGO
FIRST NATIONAL BANK
ENGLISH STATE BANK
ETNA BlNK
CITIZENS N9 Of EVANSVILLE
NAT CITY BK OF EVANSVILLE
OLO NAT BK IN EVANSVillE
FAIRLA~O N~TIONAL BANK
BRIGHT NAT BK AT FLORA
FO~T WAYNE NATIONAL BANK
LINCOLN NB t TC Of FT WAYNE
FIRST NB OF FREMONT
SPRING VALLEY NATIONAL BANK
GARRETT STATE BANK
BANK OF INDIANA NA
GARY NATID•AL BANK
FIRST NS OF GOSHEN
CENTRAL NB Of GREENCASTLE
FIRST CITIZENS BK ANO TR CO
eROOKYILLE
BROWNSBURG
BUTLER
CAMBR I OGE CITY
CANN EL TON
CHARLESTCWN
CHESTERTON
CLOVfROALE
COLUMBIA CITY
COLUMBIA CITY
COLUMBUS
CCNNERSVILLE
CONNERSVILLE
CONVERSE
CRA~FOROSVILLE
CROWN POINT
DANVILLE
DECATUR
OE~OTTE
EAST CHICAGO
ELKHART
ENGLISH
ETNA GREEN
EVANSVILLE
EVANSVILLE
EVAtlSVILLE
FAIRLAND
FLORA
FORT WAYNE
FORT WAYNE
FREMONT
FRENCH LICK
GARRETT
GARY
GARY
GOSHEN
GREENCASTLE
GREENCASTLE
NAT BK OF ~REENWOOD
GREENWOOD
CALUMET NA Tl ONAL BANK
HAMM ONO
HfRCANTILE NB OF INOIANA
HAHUONO
FIRST NATIONAL BANK
HARTFORD CITY
STATE B4NK Of LIHA
HOWE
FIRST NAT BK OF HUNTINGBURG HUNTINGBURG
FIRST NB OF HUNTINGTON
HUNTINGTCN
AMERICAN FLETCHER NB & TR COINOIANAPOLIS
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
Ill
IN
IN
IN
IN
IN
23111
28021
14090
U38l
14400
28094
46952
18021
50553
33585
44930
39453
41700
33861
63015
49383
27136
69947
20863
131024
244677
17300
14080
273284
166842
288912
24162
27259
376882
482655
32472
39567
17549
222022
409542
59686
51790
35605
83988
143527
166472
13877
16033
38823
69385
1403692
2BB
355
297
244
283
457
1254
131
487
517
830
907
1574
191
614
866
184
528
190
3605
3161
6l8
0
896
263
324
276
723
966
555
1646
1140
1339
0
0
0
0
402
0
99
0
bib
896
12103
14412
859
1118
423
1848
9184
13570
627
12971
1957
444
1737
383
1175
3H4
2284
255
l06
363
1415
23282
1062
2719
45 75
7070
301
1763
6969
0
0
616
389
7576
6271
7962
538
896
7908
8935
859
1118
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127
960
466
0
854
389
10724
6271
13023
538
0
0
0
0
263
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216
723
966
555
1646
1140
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1256
2671
1771
1033
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727
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0
239
1256
2671
1771
1033
2428
727
3951
8731
94
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0
0
973
115
4663
3668
3161
356
301
4587
9699
459
459
282
0
0
0
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2196
5192
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0
5341
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4952
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4195
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0
0
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6010
775
339
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0
1920
4968
0
0
0
896
423
990
1967
0
7264
8003
1957
1737
1062
2719
0
4575
4906
0
0
0
0
7070
301
464
0
1142
2140
56047
98
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT 10 BANKS COVERED BY MODIFIED H.R. 7
MEH8ER 8ANKS
OSB
NAME
Ill
TDEP
LOCA110N
1/17179
121
VL ltSH
131
1977
REQBAL
7162040
7182080
7182085
7182220
7182215
7182290
7182305
7182370
7182410
7182460
8182490
7182530
7192560
7182638
llJl.2640
7182650
71sn10
7182740
7102810
8182840
7182885
8182935
119n91
7183000
7183HO
7183250
7183320
7183410
8183560
8183570
7183580
7183590
7183630
7183650
8183680
7183110
7183710
7183150
7183780
71837SO
7183850
7183880
7183900
718 3910
7183935
8183950
INDIANAPOLIS
INDIANA NATIONAL BANK
HRCH NB t TRCO Of .INOAPOllS INDIANAPOLIS
INDIANAPOllS
MI OWE ST NA Tl ONAL BANK
KNIGHTSTO~N
FIRST NB Of KNIGHTSTWN
KOKOMO
FIRST NATIONAL BANK
LAFAYETTE
LAF4YETTE NATIONAL BANK
LA FAYETTE
PURDUE NB Of LAFAYETTE
FIRST NB t TRCO Of LA PORTE LA PORTE
PEOPLES NB OF LAWRENCEBURG LAWRENCE BURG
U~ION CTY NB OF LIBERTY
LI BERTY
LINTGN
CITIZENS NAT 8K Of LINTON
NATIONAL BANK OF LOGANSPORT LOGANSPORT
LOWELL
LOWELL NATIONAL BANK
CITIZENS NAT BK CF GRANT CTYMAR I ON
MARION
FIRST NAT BK IN MARION
MAR ION
MAR ION NAT BK Of MARION
FIRST NATIONAL BANK
HART INSYlllE
FIRST MERCHANTS NATIONAL BK MICHIGAN CITY
MISHAWAKA
FIRST NB OF MISHAWAKA
MIT CHELL
FIRST NAT BK OF MITCHELL
MONT I CELLO
FIRST NATIONAL BANK
POSEY COUNTY NATIOIIAL BANK MGUNT YE RNON
AMERICAN NB t TC OF ~UNC IE HUNC IE
HUNC IE
MERCHANTS NB Of MUNCIE
NE~ CASTLE
FIRST NB IN NEW CASTLE
AMERICAN NB OF NOBLESVILLE NOBLESVILLE
NORTH VERNON
FIRST NB OF NORTH VERNON
GSGOOO
RIPLEY COUNTY BANK
CITIZENS ST BK Of PETERS8URGPETERS8URG
FIRST NAT BK CF PETERSBURG PEIERSBURG
PIERCETON
PIERCETON STATE BANK
PLAINFIELD
FIRST NATIONAL BK t TR CO
PCRTER
FIRST STATE BK Of PORTER
PORTLAND
FIRST NAT BK OF PORTLAND
FAR.SERS NAT BK OF PRINCETON PRINCETON
REMINGTON
FARMERS NB OF REMINGTON
F t ~ NAT BK OF RENSSELAER RENSSELAER
REYNOLDS
BANK OF REYNOLDS
RICHSOND
FIRST NAT BK OF RICHMOND
R ICHHOND
SECO~D NAT BK OF RICHMOND
ROCHESTER
FIRST NB Of ROCHESTER
ROCKVILLE
ROCKVILLE NATIONAL BANK
RUSH CTY NAT BK OF RUSHVILLERUSHVILLE
RUSHVl~LE
RUSHVILLE NATIO~AL BANK
CENTRAL NAT BK OF HOWARD CTYRUSSIAVILLE
ST ATE BANK Of SALEM
SALE"
IN
1236604
Ill
Ill
977772
23383
166H
79315
153125
185515
72696
27772
27390
30371
109116
4B73
23341
59517
69491
29472
123998
91056
15103
14468
28350
68861
188355
3132.0
78123
22377
21729
30247
18072
13740
38138
21041
14395
39279
19232
32482
19673
76010
162052
40044
21409
30540
30367
15859
28123
IN
IN
IN
IN
IN
IN
IN
HI
IN.
HI
IN
IN
"IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
lfl
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
34602
221H
107
195
2040
1661
2607
626
582
251
324
2882
581
626
2090
1166
566
2918
1685
166
125
321
1830
7110
732
1057
261
169
280
238
86
355
393
173
455
61
237
145
1646
3374
416
341
532
383
618
299
38044
27386
1311
HI
1802
6128
7382
3304
H3
943
895
2135
1614
319
781
HI
NEW
EPA
5188
5035
13
0
599
3994
4952
1505
0
0
0
459
252
0
0
151
131-151
20774
14832
0
17270
12554
1311
0
0
0
40
0
0
0
0
0
0
0
0
0
0
2114
873
964
0
3070
1130
261
0
0
0
0
0
1911
390
529
1064
1913
2353
869
2851
703
889
1282
544
423
1361
396
322
1450
0
Dlf
HI
1802
6128
7342
3304
743
943
895
2135
1614
319
781
2114
873
3070
1977
390
529
1064
0
0
593
500
0
1913
0
2353
0
0
869
2851
l495
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
49
0
0
0
H
0
0
0
751
1
1274
0
0
738
161
NEW
REQBAL
1914
4411
1321
574
837
1037
652
2298
58
29
916
0
0
0
0
"5
0
0
703
889
1282
544
423
1361
396
322
1450
757
1274
738
1914
••
•••
•
•
•••
•
••
•
•
•
•
••
•••
••
•
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4411
0
0
0
1321
574
837
1037
29
0
976
•
•
••
•
........
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEf IT 10 BAl,KS CDV~RED BY HODIF IEO H.R. 1
ME~3ER BANKS
NAME
OS9
81839•5
81840)0
8184010
8184030
71"4040
71H050
71B4l10
7le4!20
1184130
8lt14235
7184270
8l043l0
8184330
7184160
7184170
7lf!44J0
"IHl44LO
7184470
8184~)0
1184550
71~4~30
7184640
etr4670
13 l s4oqo
7l&'t870
Of
111
TOEP
LOCATION
FIRST NAT BK OF SCOTTSBURG
SCOTTSBURG
SCOTTSBURG
SCOTT COUNTY ST ATE BANK
SELLERSBURG
SELLERSBURG STATE BANK
SEYMOUR
SEY SOUR NATIONAL BANK
fAR,SERS NB Of SHELBYV I l l E
SHELBYnLLE
SHELSY NS Of SHEL BYV I l l E
SHELBYVILLE
ASERICAN NBtTC Of SOUTH BENDSOUTH BENO
F (RS T BANK ANO TRUST COHPANYSOUTH BENO
NAT[ONAL B<t TC OF SGUTH BENOSOUTH BENO
FARMERS ST 6K Of SULLIVAN
SUlL !VAN
SUNMAN
PEOPLES BANK ANO TRUST CO
CITIZENS NAT BK Of !Ell CITYTELL CITY
TELL CITY NATIONAL BANK
TELL CITY
~ERCHA~TS NB OF TERRE HAUTE TERRE HAUTE
TERRE HAUTE
TER~E HAUTE FIRST NAT BK
TIPTON
CITIZENS NB Of TIPION
11 PTON
fA~~ERS LOAN AHO TRUST CO
VALPARAISO
FIRST NB VALPARAISJ)
A~ERICAN NAT BK Of VINCENNESVINCENNES
FIRST NAT BK IN WABASli
WABASH
WARREN
EXCHANGE BANK
FIR sr NB OF WARSAW
WARS AA
PPL NB & TR CO OF WASH
WASHINGTON
~ASHING TON
WA.SHINGTON NATION1'L BANK
WINA~AC
FIRST UNION BK AND TR CO
136 BANKS AFFECTED IN STATE
66
57
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
142
364
353
365
586
1363
2646
5608
1921
306
323
424
390
3782
4205
IN
21111
161
31414
92461
104198
36620
23998
82809
36574
20785
45117
396
1188
1%5
149
154
1027
378
327
299
IN
IN
IN
IN
IN
IN
131
1971
REQBAl
480
1076
619
1185
1652
1360
1864
8052
6451
641
281
1353
1354
2699
6733
1040
692
3638
3911
1116
869
2618
1202
500
1695
10
NEW
EPA
0
0
0
35
543
0
396
5092
4019
.
0
0
201
1062
4936
31
0
1840
2120
0
0
966
48
0
311
151
NEW
REQBAL
0
0
0
0
0
0
0
1032
1100
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
161
Olf
131-151
480
1016
879
1185
1652
1360
1864
1020
5351
8'1
261
1353
1354
2699
6133
1040
892
363B
3911
1116
869
2618
1202
500
1695
•
•
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•
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t--'
N)
•
••
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
ALBIA
PEOPLES NAT BK OF ALBIA
FIRST NATIONAL BANK,AMES
AMES
ANKENY
ANKENY NATIONAL BANK
BOONE
C 11 IZE~S NAT BK Of BOONE
BURll NG TON
FIRST NATIONAL BANK
FIRST NAT BK,CEOAR FALLS,IA CEDAR FALLS
CEDAR RAPIDS
~ERCHANTS NATIONAL BANI(.
CEDAR RAPIDS
PEOPLES BANK AND TRUST CO
CENTERVILLE NATIONAL BANK
CENTERVILLE
•1AT BK AND TR CO OF CHARITON(HARITON
CITIZENS NB OF CHARLES CllY CHARLES CITY
CLARI NOA
STATE BANK
FIRS! NAT BK OF CLARION
CLAR ION
cn,zrns
121
Vl TCSH
IN
IN
IN
------------------------------------------7190090
11901•5
71S0235
71 S0600
71S0730
710:01370
11 SJSO 0
11qoq10
11•~•J<l40
71S09d0
71C.0"l90
71SIIOO
719 I 120
IH63
27160
27412
33110
51247
59352
97830
304158
179387
25617
14536
H426
39917
132154
223559
1/11/19
---------------------------------------------------------IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
25025
52111
14049
192
967
919
1514
253
33486
405
872
361
3542
1060
272
1072
2505
1296
10264
4021
1086
1214
827
790
1001
65765
35971
248341
100654
34245
30919
23903
24207
31228
261
193
153
238
148
0
0
919
128
0
1514
0
0
1201
0
0
272
1072
2505
1296
1949
4021
1086
1214
827
790
1001
68
5008
2270
185
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33
0
209
0
0
2315
0
0
0
0
0
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
HEH8ER BANKS
Cll
DSB
l/lT/79
BENEFIT TO BANKS COVERED BY HDDJFIED H.R. l
NAHE
TDEP
LOCATION
121
VLTCSH
131
1977
REQBAL
7182040
7182080
7182085
7182220
718223 5
7182200
7182305
7182370
7182410
?182460
6182490
7182530
7192560
7182638
7182640
7182650
11an1a
7182740
7102810
8182840
11B288 5
8182995
7192'9') 3
7193000
718 3HO
7183250
7193320
7183410
8183560
B183570
7183580
7183590
7183630
118 3650
8183680
7183710
7183730
7183750
7183780
7183740
7183850
7183880
7183')00
7183910
7183S35
8183950
INDIANA NATIONAL BANK
I NDIANAPOll S
M•CH NB G TRCO OF INOAPOLIS INDIANAPOLIS
MIDWEST NATIONAL BANK
INDIANAPOLIS
FIRST NB OF KNIGHTSTWN
KNIGHTSTO•N
FIRST NATIONAL BANK
KOKOMO
LAF4YETTE NATIONAL BANK
LAFAYETTE
PURDUE NB OF LAFAYETTE
LA FAYETTE
FIRST NB C TRCO OF LA PORTE LA PORTE
PEOPLES NB OF LAWRENCEBURG LAWRENCEBURG
UNION CTY NB OF LIBERTY
LI BER TY
LI NT GN
CITIZENS NAT BK OF LINTON
NAT I ONAL BANK OF lOGA~SPORT LOGANSPORT
lOh'Ell NATIONAL BANK
LOWELL
CITIZENS NAT BK CF GRANT CTYMAR I ON
FIRST NAT BK IN MARION
MARI ON
MARION NAT BK OF MARION
HAR ION
FIRST NATIONAL BANK
HART INS VILLE
FIRST MERCHANTS NATIONAL BK MICHIGAN CITY
FIRST NB Of MISHAWAKA
MISHAWAKA
FIRST NAT BK OF MITCHELL
MITCHELL
FIRST NAT I ONAL BANK
MONT !CELLO
POSEY COUNTY NATIOfJAL BANK HGUNT VERNON
HUNC IE
AMERICAN NB L TC OF MUNCIE
HUNC IE
MERCHANTS NB OF MUNCIE
FIRST NB IN NEW CASTLE
NEli CASTLE
AMERICAN NB OF NOBLESVILLE NOBLESVILLE
FIRST NB Of NORTH VERNON
NORTH VERNON
GSGOOO
RIPLEY COUNTY BANK
Cl THENS ST BK OF .PETERSBURGPETERSBURG
FIRST NAT BK CF PETERSBURG PETERSBURG
PIERCETON
PIERCETON STATE BA~K
FIRST NUIONAL BK L TR CO
PLAI NF I ELO
FIRST STATE BK Of PORTER
PCRTER
PORTLAND
FIRST NAT BK Of PORTLAND
FARMERS NAT BK OF PRINCETON PRINCETON
REMINGTON
FARMERS NB OF REMINGTON
F C H NAT BK OF RENSSELAER RENSSELAER
REYNOLDS
BANK OF REYNOLDS
RICH.MONO
FIRST NAT BK OF RI.CHMOND
RICHMOND
SECO~D NAT BK OF RICHMOND
ROCHESTER
FIRST N3 Of ROCHESTER
ROCKVILLE
ROCKVILLE NATIONAL DANK
RUSH CTY NAT BK OF RUSHVILLERUSHVILLE
RUSHVILLE
RUSHVILLE NATIO~AL BANK
CENTRAL NAT BK OF tlOWARD CTYRUSSIAVILLE
ST ATE BANK OF SALEH
SALE~
IN
1236604
34602
IN
977772
23383
16624
79315
153125
185515
72696
27772
21390
30371
109116
45373
23341
59517
69491
29472
123998
91056
15103
14468
28350
68861
188355
31320
78123
22377
27729
30247
18072
22ll4
13740
38138
21041
14395
39279
19232
32482
19673
76010
162052
400H
21409
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN.
IN
IN
IN
·111
IN
IN
IN
IN
IN
IN
IN
IN
IN
rn
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
30540
30367
15859
28123
107
195
2040
1661
2607
626
582
251
324
2882
58 I
626
2090
1166
566
2918
1685
166
125
321
1830
7110
732
1057
261
169
280
238
380H
27386
1311
441
1802
6128
7382
3304
743
943
895
2135
1614
319
781
2114
873
3070
1977
390
529
1064
1913
2353
UI
NEW
EPA
151
NEW
REQBAL
5188
207H
5035
73
0
14832
599
0
0
0
3994
0
4952
40
1505
0
0
0
0
0
0
0
a
0
459
252
0
0
964
0
1130
261
0
0
0
0
0
0
a
a
0
0
a
a
593
0
500
0
0
2851
703
889
1282
544
1495
0
86
355
393
173
455
61
237
145
1646
3374
416
341
532
383
423
1361
396
322
1450
757
1274
738
1914
4411
1327
574
837
1037
0
H
0
0
618
299
29
976
869
a
49
0
0
a
1
0
0
0
0
0
0
0
0
0
0
0
0
a
161
Dlf
131-151
17270
12554
1311
441
1802
6128
7342
3304
743
943
895
2135
1614
319
781
2114
873
3070
1977
390
529
1064
1913
2353
869
2851
703
889
1282
544
423
1361
396
322
1450
757
1274
738
1914
a
0
652
2298
58
0
0
0
0
0
574
837
45
0
1037
29
976
a
0
0
0
0
0
4411
1327
•
•
•••
•
•
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ME~SER BANKS
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NAME
DSB
8183995
8194010
8184010
8184030
71~4040
71q4050
7184110
7184120
7184130
Blt\4235
7164270
8184320
8184330
7184360
7184)70
71844.l0
., 184410
7184470
Bl9',5)0
17184550
,7H~4t>30
,71846'10
8tr4b70
Ul8t.b90
H84870
Of
111
TDEP
LOCATION
FIRST NAT BK OF SCOTTSBURG SCOTTSBURG
SCOTT COUNTY STATE BANK
SCOTTSBURG
SELLERSBURG
SELLERSBURG STATE BANK
SEYMOUR
sn•ouR NATIONAL BANK
FARMERS NB OF SHELBYVILLE
SHELBYVILLE
SHELBYVILLE
SHELBY NS Of SHELBYVILLE
A.SERICAN NBtTC Of SOUTH BENDSOUTH BEND
FIRST BANK AND TRUST COMPANYSOUIH BENO
NATIONAL BKtTC OF SGUTH 8ENOSOUTH BENO
FARMERS ST ~K Of SULLIVAN
SUL llVAN
P[QPLES BANK ANO TRUST CO
SUNMAN
CITIZENS NAT BK OF T~LL CITYTELL CITY
TELL Cl TY
TELL CITY NATIONAL BANK
~ERCHA.tHS NB OF TERRE HAUTE TERRE HAUTE
TER'l.E HAUTE FIRST NAT BK
TERRE HAUTE
CITIZENS NS OF TIPTON
TIPTON
FA~SERS LOAN ANO TRUST CO
TIPTON
FIRST NB VALPARAISO
VALPARAISO
AMERICAN NAT BK OF VINCENNESVINCENNES
FIRST NAT BK IN WABASH
WABASH
WARREN
EXCHANGE BANK
FIRST NB OF WARSAW
WARS A~
PPL NB t TR CO OF WASH
WASHINGTON
WASHINGTON NATIONAL BANK
WASHINGTON
WINA~AC
FIRST UNION BK ANO TR CO
136 BANKS AFFECTED IN STATE
66
57
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IH63
21160
21412
33110
51247
59352
97830
304158
179387
2561 7
14536
44426
39977
132154
223559
27l 7l
31414
92461
104 798
36620
23998
82809
36574
20785
45171
121
VLTCSH
142
364
353
365
586
1363
2646
5608
1921
308
323
424
390
3782
4205
187
396
1188
1965
749
154
1027
378
327
299
1/17/19
141
131
1977
AEQBAL
NEW
EPA
151
NEW
REQBAL
161
DIF
131-1 51
480
1076
879
1185
1652
1380
1864
8052
6451
841
281
1353
1354
2699
6733
1040
892
3638
3911
1116
869
2bl8
1202
500
1695
0
0
0
35
543
0
398
5092
4019
0
0
207
1't
1062
4936
37
0
1840
2120
0
0
9b6
48
0
311
0
0
0
0
0
0
0
1032
1100
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
480
1016
879
1185
1652
13B0
1864
7020
5351
841
281
1353
1354
2699
6733
1040
892
3638
3911
1116
869
2618
1202
soo
1695
•
••
••
•
••
••
•
•
•
••
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HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
-----------------------------------------------------------------------------------------------------------7190090
7190195
7190235
7190600
7190730
11qoa10
719J900
7 lQ0910
719Vq40
71909d0
11<;0990
7191100
7191120
ALBIA
PEOPLES NAT BK OF ALBIA
FIRST NATIONAL 8ANK,AMES
AMES
ANKENY NATIONAL BANK
ANKENY
CITIZE~S NAT BK OF BOONE
BOONE
FIRST NATIONAL BANK
BURLINGTON
FIRST NAT BK,CEOAR FALLS,IA CEDAR FALLS
MERCHANTS NATIONAL BANK
CEDAR RAPIDS
PEOPLES BANK ANO TRUST CO
CEDAR RAPIDS
CENTERVILLE NATIONAL BANK
CENT ERV ILLE
'IAT BK ANO TR CO OF CHARITONCHARITON
CITIZENS NB OF CHARLES CITY CHARLES CITY
CITIZENS STATE BANK
CLARI NOA
•IRST NAT BK OF CLARION
CLARION
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
25025
52111
14049
33486
65765
35977
248341
100654
34245
30919
23903
24207
31228
192
967
253
405
872
361
3542
1060
267
193
153
238
148
919
1514
272
1072
2505
1296
10264
4021
1086
1214
827
190
1001
0
128
0
0
1207
68
5008
2270
185
0
33
0
209
0
0
0
0
0
0
2315
0
0
0
0
0
0
919
1514
272
1072
2505
1296
7949
4021
1086
1214
821
790
1001
•••
••
•
••
••
....
~
~
HEHBER BANKS
...
0
111
osB
l/17179
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NAME
LOCATION
TDEP
121
VLTCSH
29696
52731
56528
19327
21150
17953
21964
70496
15453
33199
313254
43837
20154
232886
68911
216084
26216
466416
51197
31893
113313
122859
113110
25868
14306
21524
19812
17933
28523
25760
22677
12821
59617
30609
22713
20135
14970
14267
38556
19665
25819
27448
30254
101491
32296
24820
40B
586
880
86
113
63
116
1051
90
312
5593
1648
183
5653
1073
3532
551
5052
595
218
1547
2664
1565
155
66
116
134
54
272
402
182
603
542
953
143
171
87
54
430
69
180
142
233
1391
289
306
'
~
131
1971
REQBAL
141
NEW
EPA
151
NEW
REQBAL
161
DIF
131-151
843
1716
1830
637
0
H2
525
30
29
54
96
1109
0
0
0
0
0
0
0
0
0
0
0
30H
0
0
0
0
267
843
1716
1830
637
~
0
~
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7!9IHO
7lnl90
71qI1q5
71912]0
11n250
71q126s
7191290
71qI340
71Gl370
7191390
7191410
7191'75
7191550
71'11570
7191580
7191590
71916J5
7191620
7191632
7191635
7191640
7191730
1191750
7191790
7l9l882
1191910
7191935
7l<H970
HS2040
7192050
71q214()
7192150
1192160
7192170
7192270
1icn340
7192 350
1192440
11q,2430
7192510
71~2560
7192600
7192780
71928BO
7193150
7193310
CLEAR LAKE BANK AND TRUST COCLEAR LAKE
CLINTON NA Tl ONAL BANK
CLINTON
FIRST NATIONAL BANK
CLINTON
FIRST NAT BK IN COLFAX
COLFAX
COLUM9US JUNCTION STATE BANKCOLUMBUS JUNCTION
PEOPLES NATIONAL BANK
COLUMBUS JUNCTION
CORl'IING
OKEY VERNO~ FIRST NAT BK
FIRST NB Of COUNCIL BLUFFS COUNCIL BLUFFS
CRESCO NAT I ONAL BANK
CRESCO
f IR ST NB Hl CRESTON
CRESTON
DAVE~PORT BANK ANO TRUST CO DAVENPORT
f IRST NB Gf OAVENPOR T
DAVENPORT
FIRST NWSTERN NB Of DENSION DENI SON
BA~KERS TRUST CO
DES MOINES
CAPITAL CITY STATE BANK
DES MOINES
CENTRAL NAT BK C TR CO
DES MOINES
EAST DES HOINES NATIONAL BK DES MOINES
IO.<A DES MOINES NATIONAL BK DES HOINES
IIAT IONAL BANK Of DES HOINES DES HO! NES
NORTHWEST BRENTON NB
DES MOINES
DES MOINES
VALLEY NATIONAL BANK
A\olERICAN TR t SVGS BANK
DUBUQUE
FIRST NB Of DUBUQUE
DUBUQUE
DYERSVILLE NATIONAL BANK
DYERSVILLE
ELDORA
SECO~O NATIONAL BANK
ELKADER
CENTRAL STATE BANK
IOWA TRUST AND SAVINGS BANK EMMETSBURG
FIRST NAT BK Of ESSEX
ESSE x
FIRST NB IN FAIRFIELD
FAIRFIELD
IOWA STATE BANK AND TRUST COFAIRFIELD
FOREST C !TY SANK t TRUST CO FORE ST C ITV
FIRST NAT BK, FT DODGE IA
FORT DODGE
ST ATE BANK
FORT DODGE
FORT MAD I SON BANK t TRUST COFOR T MADI SON
HANCOCK COUNTY NATIONAL BANKGARNER
GLENWOOD
GLEN•OOD STATE BANK
f IR ST NAT BK IN GLIDDEN
GLIDDEN
f IR ST STATE BANK
GREE NE
POWESHIEK COUNTY NATIONAL BKGRINNELL
GRUNOV CENTER
GR U'WY NB Of GRUNDY CNTR
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
1A
IA
IA
IA
IA
IA
IA
IA
FIRST NAT BK OF HAMPTO~
HAMPTON
IA
HARlAN NATIONAL BANK
FIRST NB IN HU"4NOLOT
FIRST NB IOWA CITY IOWA
CMTY NB t TRCO Of KNOXVILLE
FIRST N8 IN LE MARS
HARLAN
HUMBGLOT
IOWA CITY
KNOXVILLE
LE HARS
IA
IA
IA
IA
IA
181
619
1052
2682
495
1011
11
10204
359
647
5196
2065
7809
610
18169
1998
1091
3985
3287
3315
806
491
798
683
666
943
764
773
2581
1980
349
788
829
488
552
1105
665
831
5368
0
0
2867
122
5154
0
5131
628
141
2087
1230
en
1008
3404
1001
696
1323
141
0
0
0
14
0
0
0
1351
593
0
0
0
0
0
0
38
39
148
76
2021
3
0
0
9235
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
181
619
1052
2682
495
1011
7190
359
641
5196
2065
7542
610
8934
1998
1091
3985
3287
3315
806
491
798
683
666
943
764
773
2581
1980
349
186
829
488
552
1105
605
831
891
1008
3404
1001
696
••
••
••
••
••
•
•
•
•
•
•
•
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•
•
•
•
•
•
•
•
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•
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•
.
....
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BANKS
OSB
7193330
7193580
7193590
7l(J36LO
719)700
1193730
7193750
7193760
11q3910
7193990
719,070
7194030
7194110
7lq4lb0
7194170
7194205
7194210
7194330
7194340
11943qo
11q4400
1l94460
11q449Q
7194560
7l<H570
7194860
7195050
71Q5130
71952 70
7195280
71S5350
7195370
71954,)5
7195410
7l95420
7195510
7195525
7195630
1195640
7195650
7195710
7195925
7195840
7196060
7196J70
7196060
BENEFIT TO BANKS COVERED BY HDDIFIED H.R. 7
NAME
111
TOEP
LOCATION
FIRST NB IN LENOX
LENOX
FARMERS & ~ERCHANTS SVGS BK MANCHESTER
FIRST STATE BANK
MANCHESTER
HANNING
FIRST NB Of HANNING
FIRST NAT BK Of MARION
MARION
HAR SHALLTOWN
SECURITY SAVINGS BANK
FIRST NB Of MASON CITY
HA SON C ITV
U.'11 TED HOME BANK t TRUST co HA SON C ITV
FIRST NB Of HO VALLEY
HI SSOURI VALLEY
HONIICELLO STATE BANK
MONT !CELLO
C.FNTRAL STATE RANK
HUSCATI NE
FIRST NB Of MUSCATINE
MUSCATINE
NEVADA NATIONAL BANK
NEVAOA
FIRST NB IN NEW HAMPTON
NEW HAMPTON
SECURITY STATE BANK
NE• HAMPTON
FIRST NEWTON NATIONAL BANK
NEWTON
JA5PER COUNTY SAVINGS BANK NEiolTON
FIRST NB OF OELWEIN
OELWEIN
CITY STATE BANK
OGDEN
HOSE TRUST AND SAVINGS BANK OSAGE
OSAGE FAR,SERS NATIONAL BANK OSAGE
FIRST N9 Of OTIUSWA
OHUMWA
Ufl ION SANK ANO TRUST CO
OTTUMWA
P[ LLA NATIONAL BANK
PELLA
FIRS( NAT BK OF PERRY
PERRY
MONTGOMERY CTY NB Of RED OAKREO OAK
NIT 9K Of ROCKWELL CITY
RCCKWELL CITY
s r A'iSGI\R STATE BMU<.
SAi NI ANSGAR
CITY NB OF SHENA~OOAH
SHENANDOAH
S!:CURI TY TRUST & SAVINGS BK SHENANDOAH
FIRST 116 OF SIOUX CNTR
SIOUX CENTER
f IR ST NB IN SIOUX C ITV
SIOUX CITY
~nm rm OF SIOUX CITY
SIOUX CITY
SECURITY NB Of SIOUX CITY
SIOUX CITY
rov NATIONAL SANK
SIOUX CITY
CLAY CCUNTY NB Of SPENCER
SPENCER
SPENCER NATIONAL BANK
SPENCER
CITIZENS FIRST NATIONAL BANKSTOR~ LAKE
CO><ERCIAL TR t SVGS BK
STORM LAKE
SECJRITY H AND SVGS BK
STORH LAKE
FIRST NO OF SUM.~E R
SUMNER
FIRST NO Of Tl PTON
TI PTCN
TITD>KA SAVINGS BANK
T !TONKA
PUT BK OF WASHINGTON
WASH! hGTON
WASHINGTON STATE BANK
WASHINGTON
NAT BK Of WATERLOO
WATERLOC
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA'
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
I A
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
19407
15798
19224
14879
39240
74129
96854
71135
17977
69518
72015
75967
28886
25866
I 7613
26117
63149
32088
15342
22337
20631
45373
85900
40731
30497
20310
17280
18823
26078
18545
27546
113065
111603
16 7313
126963
30785
25325
639B7
20143
18869
26179
14458
15937
28261
25618
134153
1/17/19
121
VLTCSH
61
203
127
68
273
726
922
504
83
215
763
1462
245
193
101
341
773
396
11
90
101
930
1358
242
200
254
109
141
227
188
84
1088
1476
2087
1235
309
392
362
70
93
83
92
70
190
260
3060
131
1917
REQBAL
712
458
761
557
1352
2597
4198
2725
596
2938
2545
2056
892
851
539
713
2282
952
567
781
713
919
2650
1600
993
812
568
626
1011
751
1077
4621
3662
5248
3992
994
630
2272
728
626
927
437
561
1029
873
3407
141
NEW
EPA
19
0
0
0
158
1134
2143
1217
35
1150
1147
374
66
0
0
0
768
0
0
79
17
0
772
372
139
0
0
0
0
0
166
151
NEW
REQ8Al
0
D
0
0
0
0
0
0
0
0
0
a
a
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
o
3005
0
2474
3318
0
0
0
0
0
0
0
2620
0
0
1024
96
0
93
0
0
40
0
IHO
o
o
0
0
0
0
0
161
Dlf
131-15I
712
458
7~1
557
1352
2597
4198
2725
596
2938
2545
2056
892
851
539
713
2282
952
567
781
713
919
2050
1000
993
B12
508
626
1011
751
1077
4621
3662
524S
3992
994
630
2272
728
626
927
437
561
1029
873
3407
•
••
•
.
•
•
•••
•
•
•
.•
•
•
.••
.••
••
•
•
••
••
••
....
~
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BANKS
Ill
DSB
NAME
71%100
7196140
7196190
71%330
Of
l / l 7/19
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
WATERLOO SAVINGS BANK
FIRST NB OF WAVERLY
FARIIERS NB OF WEBSTER CITY
FIRST NB OF WEST UNION
LOCATION
WATERLOO
WAVERLY
WEBSTER CITY
WEST UNION
109 BANKS AFFECTED IN STATE
43
62
IA
IA
IA
IA
TDEP
121
VLTCSH
102625
37453
37075
30949
1589
328
312
251
UJ
131
1977
REQBAL
NEW
EPA
3554
1198
1306
1093
1778
96
63
9
151
NEW
REQBAL
161
DIF
131-151
0
0
0
0
355"
1198
1306
1093
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
750
132
619
1802
1634
1220
594
836
1165
809
861
743
1783
1071
••
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
-------------l0200040
10200200
10200210
10200240
10200320
10200330
10200450
10200790
10200950
10201050
10201000
10201140
W20ll50
10201170
10201220
l0201430
10201440
10201570
1020\650
10201810
10201820
10201870
I020l'150
1~202010
10202060
10202100
10202110
10202310
l02~2315
10202460
10202510
10202620
10202660
10202665
FAR~ERS NAT BK OF ABILENE
ABILENE
CITIZENS NAT BK E TR CO
ANTHONY
FIRST NAT BK OF ANTHONY
ANTHONY
HO>IE NAT BK OF ARUNSAS tlTYARKANSAS CITY
t i n NAT 8K OF ATCHISDII
ATCHISON
E XC NB E TR CO OF ATCHISON ATCHISON
AM NAT BK OF BAXTER SPRINGS BAXTER SPRINGS
PEOPLES NB&TC OF BURL IN(;TON BURLINGTON
FIRST NAT BK OF CHANUTE
CHANUTE
PEOPLES NB OF CLAY CENTER
CLAY CENTER
U~ION STATE BANK
CLAY CENTER
CONDON NB OF COFFEYVILLE
COFFEYVILLE
FIRST NAT BK Of COFFEYVILLE COFFEYVILLE
THO~AS CTY NB OF COLBY
COLBY
FIRST NAT BK Of COLU>IBUS
COLU>IBUS
FIDELITY STATE BK ANO TR CO DODGE CITY
FIRST Na & TR CO IN DODGE CYOOOGE CITY
FIRST NATIONAL BAIIK & TR CO ELDORADO
CITIZENS NB & TR OF EMPORIA EMPORIA
ARMY NB OF FT LEAVENWORTH
FORT LEAVENWORTH
CITIZENS NB .OF FORT SCOTT
FORT SCOTT
FIRST NAT BK IN FP.EOONIA
FREDONIA
GARDEN NB OF GARDEN CITY
GARDEN CITY
FIRST NAT BK OF GIRARD
GIRARD
FIRST NAT BK OF GOOOL ANO
GGOOLAND
A~ERICAN STATE BK E TR CO
GREAT BEND
\ST NB & TR CO IN GREAT BENOGREAT BENO
FlqST NB OF HAYS CITY
HAYS
HAYS NATIONAL BANK
HAYS
FIRST NAT 6K OF HILLSBORO
HILLSBORO
FIRST NAT BK OF IIOXIE
HOXIE
HUMBOLDT NATIO,.AL BANK
HUMBOLDT
FIRST NAT BK OF HUTCIIINSON HUTCHINSON
HUTCHINSON NAT BK E TR
HUTCHINSON
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
19860
18979
17215
43'147
39410
32702
22451
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3391'1
23506
22848
23223
50873
23423
23771
50878
3'1477
30400
51761
30527
43146
17256
35808
15793
28684
41179
51007
32714
17170
19747
19115
16073
94677
105653
159
69
88
452
HO
250
306
IOI
28'1
183
1'14
263
403
111
164
587
30'1
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733
314
500
136
286
91
313
285
404
361
247
108
61
89
843
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732
619
1802
1634
1220
594
836
1165
809
861
743
1783
1071
181
1893
1712
1059
1543
1574
1554
549
1630
620
1088
1679
1705
1287
541
191
737
653
4055
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0
8
0
394
311
17
0
0
33
0
0
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342
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261
143
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1059
1543
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1630
620
1088
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BANKS
DSB
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NAME
111
TOEP
LOCATION
1/17/79
121
VL lCSH
131
1911
REQBAL
l0202690 CITIHNS NB IN I NOEPENOENCE INDEPENDENCE
L0202S 50 CENTRAL NB OF JUNCTION CITY JUNCTION CITY
JUNC Tl ON CITY
I02029JO CMRC NB OF KANSAS CITY
KANSAS CITY
KANSAS C ITV
10233020 S[CURITY Ni\T BANK Of KC
l0203070 FIRST NAT BK OF KINGMAN
KING MAN
10203120 F & M STATE BK OF RUSH CTY
LA CROSSE
10203180 FIRST NAT BK & TR IN LARNED LARNED
10203190 1ST ST BK & TR CO OF LARNED URNED
1020.3200 FIRST NB OF LAWRENCE
LAWRENCE
l02'J32l0 LAWRENCE NAT BK ANO TRUST COLAWRENCE
10203220 FIR ST NB OF LEAVENWORTH
LEAVENWORTH
102:J3230 LEAVENWORTH NAT BK & TR CO
LEAVENWORTH
10203360 FIRST NAT BK OF LIOERAL
LIBERAL
10203370 PEOPLES NAT BK OF LI BER AL
LIOERAL
10203680 FIRST NB OF MANHATTAN
MANHATTAN
10203690 UNION NB£.TC OF MANHATTAN
MANHA TT AN
10203900 FIRST NAT 8K OF HEADE
MEADE
10203810 FIRST NB OF MEDICINE LODGE
MEDICINE LODGE
10204050 FIRST NAT BK OF NEODESHA
NEGOESHA
1020-'1010 .SJ OLANO Ng OF NEWTON
NEl<.TON
OLATHE
10?04220 FIRST NAT 8K Of OLATHE
\fJ20-'t230 FIRST NB OF OSAWATOSI E
OSAWATOMIE
10204370 PEOPLES NB t TR GTTAWA
OTT AWA
10204470 MIA~l CTY NAT 8K"OF PAOLA
PAOLA
10?04560 FI RSJ Ng Of PHILLIPSBURG
PIIILLIPSBURG
102J4575 CITY NAT B< OF Pl TTSBURG
PllTSBURG
1J2045'JO Nl T IDNAL BK Of PITTSBURG
PITTSBURG
10204675 JOH~SON CTY NBtTC
PRAIRIE VILLAGE
102046 76 KANSAS NAT BK t TR CO
PRAIRIE VILLAGE
l02Q46d0 F 1R ST NAT BK OF PRATT
PHATT
102046'10 PEOPLES BANK
PRATT
10204g 70 FIRST NATIONAL BANK t TRUST ST JOHN
10205020 FIRST NB&TC OF SALINA
SAL I NA
lu205030 NAT BK Of AMERICA AT SALINA SALINA
102)5060 f IRST NAT 8K OF SCOTT C ITV
SCOTT CITY
10205070 FIR ST NAT BK Of SEDAN
SEDAN
10205190 f IRST NB Of SMITH CENTER
SMITH CENTER
10205525 F JRST NAT BK Of TOPEKA
TOPEKA
10205550 .SERCHANTS NB Of TOPEKA
TOPEKA
WAMEGO
1~205820 FIRST NAT BK WAMEGO
10205840 FIRST NAT BK Of WASH! NGTON
WASHINGTON
10205910 FIRST NAT BK OF WELLINGTON
WELL ING TON
WICHITA
10206020 FIRST NB IN WICHITA
10206030 FGURTH NATIONAL BK t TR CO WICHITA
10206042 NATIONAL BANK OF WICHITA
WICHITA
l02:J28S.O Fl~ST NB OF JUNCTION CITY
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
KS
38181
29739
23309
114503
146224
11883
14915
21317
26963
54667
45215
34386
3012 I
28611
32836
41857
51464
16127
21215
18971
28229
36441
19000
21580
39135
33162
23191
50316
104127
34914
24095
41789
17037
68665
58515
23318
13326
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253569
168079
16563
21420
28030
282159
464648
31488
299
480
699
1211
1679
146
52
282
268
581
1270
695
479
298
214
446
638
74
102
160
318
371
99
335
202
107
391
598
628
324
200
174
60
879
743
98
70
56
3215
1881
71
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349
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0
0
0
0
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BANKS
Ill
NAME
DSB
10206050 SW NAT BANK OF WICHITA
10206060 UNION NAT BK OF WICHITA
10206110 f IRST NAT BK OF WINFIELD
OF
LOCATION
TDEP
WICHITA
WICHITA
WINFIELD
~3 BANKS AFFECTED. IN STATE
39
38
4210050
4210060
4210110
4210240
8210300
8210320
8210490
.4210550
4210750
4210710
4210790
4210910
4210870
42108~0
e210900
8210910
8211020
8211145
8211190
8211230
4211260
8211310
4211370
8211)90
4211430
8211540
8l!l550
8211600
8211620
4211 730
4211920
4211945
4211950
4211960
lt2?.2il)8
l/I7/79
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
KS
KS
KS
61148
161076
35131
121
VL TCSH
711
l725
417
131
1971
REQBAL
2021
62H
1760
141
NEW
EPA
151
NEW
REQBAL
717
4438
359
161
DIF
131-151
0
0
0
2021
6274
1760
0
0
4065
1562
0
504
484
•
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE ND REQURED RESERVE BALANCE
SECOND NB OF ASHLAND
ASHLAND
THIRD NAT BANK OF ASHLAND
ASHLAND
UNION NS OF BARBOURVILLE
BAPBOURVILLE
BEREA NATIONAL BANK
BEREA
A'1 NBtTR CO OF BOWLING GREENBOWLING GREEN
CTZ NB OF BOWLING GREEN
BOWLING GREEN
CITIZENS BANK AND TRUST CD CAMPBELLSVILLE
FIRST NB OF CARLISLE
CARLISLE
FIRST NB t TR CD OF CORBIN CORBIN
CITIZENS NB OF COVINGTOII
COVINGTON
FIRST NAT BK t TRUST CO
COVINGTON
PEOPLES LI BERTY BK C TR co COVINGTON
FARMERS NB Of CYNTHIANA
CYNTHIANA
NS OF CYNTHIANA
CYNTHIANA
CITIZENS NB Of DANVILLE
OANV ILLE
FARMERS NB OF DANVILLE
DANVILLE
1ST HARDIN NB OF ELZBETHTWN ELIZABETHTOWN
FORT KNOX NA Tl ONAL BANK
FORT KNOX
STATE NB OF FRANKrnRT
FRANKFORT
CITY NB CF FULTON
FULTON
FIRST NAT BK AND TR CO
GEORGETCWN
NEW, FAR~ERS NB OF GLASGOW
GLASGOW
f IRST NB OF GRAYSON
GRAYSON
PEOPLES BANK £ TRUST CO)IPANYGREENS8URG
HA~LAN NATIO~AL BANK
HARLAN
FIRST tlB OF HENDERSON
HENDERSON
OHIO VALLEY N8 Of HENDERSON HENDERSON
LINCOLN NB OF HOOGENV ILLE
HOOGENV ILLE
PLANTERS BANK AND TRUST CO HOPKINSVILLE
JACKSON
f IPST NB OF JACKSO•!
BANK OF CO~HERCE t TRUST CO LEXINGTON
CITIZENS UNION NATIONAL BANKLEXINGTON
FIRST SECURITY NB £ TR CC
LEXINGTON
LEXINGTON
SECO"ID NAT BANK MIO U CO
CUMBERLAND VALLEY NB t TR COLONDON
KY
KY.
KY
KY
KY
·KY
KY
KV
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KV
KY
KY
KY
KY
105325
69162
40696
17345
94204
87320
25176
17881
54902
24022
73203
9H32
22149
32029
23105
30950
81613
21342
31200
23328
35560
52669
27139
20413
28931
42621
37496
21764
96409
18756
93584
119414
439570
100590
71902
2326
2190
1173
273
1309
1599
524
195
903
809
2060
2164
362
362
396
314
1729
886
3H
355
441
628
316
202
1077
1038
425
252
3101
283
1033
2131
4746
2135
892
4065
1562
504
484
4215
2880
816
620
1614
349
1618
2372
722
1158
797
1400
3080
165
1505
1922
0
0
0
2217
1559
0
0
0
0
224
1125
0
0
0
78
1037
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
223
0
694
0
1324
2333
1017
705
1098
0
722
0
0
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0
0
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1656
161
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0
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2082
1566
826
1883
628
3788
5319
21756
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2660
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349
1618
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165
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628
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5319
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
IIEHBER BANKS
Ill
DSB
NAHE
4212010
4212040
8212050
8212058
8212060
8212090
8212120
8212310
4212340
42l2Jqo
8212500
4212560
4~\2570
4212590
42I26qo
4212700
4212730
8212910
8212880
4212895
4212q)Q
4212940
4213000
4213020
'2130b0
4213100
8213150
8213260
4213420
4213440
4213500
4213835
4213870
OF
1/17179
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
LOCATION
FIRST NB IN LONDON
LONDON
FIRST NB Of LOUISA
LOUISA
CTZ FIDELITY BK & TR CD
LOUISVILLE
FIRST KENTUCKY TRUST COMPANVLOUISVILLE
FIRST NB OF LOUISVILLE
LOUISVILLE
LIBERTY NB & TR CO
LOUISVILLE
LOUISVILLE TRUST BANK INC
LOUISVILLE
FIRST NB OF HAYFIELD
HAYF !ELD
STATE NB OF HAYS~ILLE
MAYSVILLE
NATIONAL BANK
Ml DOLE SBORO
MORGANFIELD NATIONAL BANK
MORGANF IELO
"tNTGMRY N8 OF HT STERLING
MOUNT STERLING
HT STERLING NATIONAL BANK
MOUNT STERLING
TRADERS NB OF HT STERLl~G
MOUNT S TERLIIIG
A~ER ICAN NS OF ·NEWPORT
NEWPORT
tlE WPORT NATIONAL BANK
NEWPORT
FIRST NATIONAL BANK & TR CO NICHOLASVILLE
OWENSBORO NATIONAL BANK
OWENSBORO
PPL I ST NB&TR CO OF PADUCAH PADUCAH
CITIZENS NB OF PAINTSVILLE PAINTSVILLE
FIRST NB OF PAINTSVILLE
PAINTSVILLE
PEOPLES OEPOSIT BANK & TR COPARIS
FIRST NB OF PIKEVILLE
P !KEVILLE
PIKEVILLE NAT BK & TR CO
P !KEVILLE
FIRST NB OF PRESTONSBURG
PRESTONSBURG
MADI SON NB OF R ICHMONO
RICHMOND
CITIZENS NB OF RUSSELLVILLE RUSSELLVILLE
FARSERS NB OF SCOTTSVILLE
SCOTTSVILLE
CITIZENS NB OF SCHERSET
SOMERSET
FIRST AND FARMERS NATL BANK SOMERSET
LINCOLN COUNTY NATIOHAL BANKSTANFORO
FAR~ERS NB OF WILL IA"SBURG WILLI AH SBURG
CLARK CTY NB OF WINCHESTER WINCHESTER
68 BANKS AFFECTED IN STATE
35
28
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
TDEP
121
VLTtSH
30877
21632
903969
31687
980452
520314
223918
25362
38397
36213
32250
18449
30486
26561
20496
40039
32069
116356
98533
46131
36364
20362
99392
162520
68036
40392
29868
25815
42993
93428
16246
40403
35250
341
12497
0
11635
6452
1882
464
508
722
387
317
338
652
678
1333
301
1873
2788
484
642
240
1971
2491
1011
249
483
279
551
2094
356
458
352
394
131
1977
REQBAL
1258
692
45417
laBO
44822
24H9
11871
836
1429
972
986
546
IHI
536
40
789
1390
5283
2626
1786
978
778
3045
6883
2572
1825
904
1050
1458
2389
760
1190
1305
141
l<EW
EPA
0
0
5288
579
4966
5300
5004
0
48
0
0
0
0
0
0
0
120
3181
583
290
0
0
766
5115
1039
390
0
0
60
235
0
0
0
151
NEW
REQBAL
0
0
30126
0
28785
14222
3847
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
161
DIF
131-151
1258
69Z
15291
1880
16037
10327
8024
836
1429
972
986
546
1151
536
448
789
1390
5283
2626
1786
978
778
3045
6883
2572
1825
904
1050
1458
2389
760
1190
1305
•
..
••
••
•
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•
•
•
•
••
•
••
••
•
••
HAVE NO EARNIIIGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALAIICE
HAVE NO REQURED RESERVE BALANCE
------------6220020
6220040
6220050
6220D55
6220060
FIRST IIAT BK OF ABBEVILLE
ABBEVILLE
RAPIDES BANK ANO TRUST CO
ALEXANDRIA
SECURITY FIRST NATIONAL BANKALEXANDRIA
FIRST NB OF ST BERtlARD PRSH ARABI
ST BERNARD BANK AIID TRUST COARABI
LA
LA
LA
LA
LA
26277
697
815
160317
3Hl
1037
789
1635
5353
1421
208
514
46724
22952
45279
0
3213
180
0
0
0
815
0
0
0
0
5353
1421
208
514
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~
00
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Ill
DSB
11220070
11220083
6220090
6220100
6220110
6220155
II220lb5
6220281
6220300
11220310
6220315
6220340
6220350
6220435
6220460
6220480
l/17/79
BENEFIT TO BANKS COVERED BY HOOi F JED H.R. 7
MEMBER BANKS
NAME
FIRST NAT BK IN ARCADIA
BASTROP NATIONAL BANK
CITY NB OF BATON ROUGE
FIDELITY NB Of BATON ROUGE
LA NAT BANK Cf BATON ROUGE
PARISH NATIONAL BANK
NAT 8ANK Of BOSSIER CITY
FIRST NATIONAL 8ANK
FIRST NAT BANK Of CROWLEY
FIRST NAT BANK Of DELHI
FIRST NB Of OENHAH SPRINGS
FIRST NAT BK IN DERIDDER
FIRST NB IN DONALDSONVILLE
FIRST NATIONAL BANK
FIRST NB Of JEFFERSON PRSH
CITIZENS NATIONAL BANK
TDEP
LOCATION
ARCADIA
BASTROP
BATON ROUGE
BATON ROUGE
BATON ROUGE
eoGALUSA
BOSSIER CITY
COVING TON
CROWLEY
DELHI
DENHAM SPRINGS
DERIDDER
DONALDSONVILLE
GONZALES
GRETNA
HAMMOND
HOMER
11220520 H0r-1ER NATIONAL BANK
6220540 FIRST NATIONAL BANK OF HOUMAHOUMA
6220570 FIRST NAT BANK OF JEANERETTEJEANERETTE
6220575 NB Of CHMRC IN JffRSN PRSH JEFFERSON PARISH
6220595 JEFF DAVIS BANK ANO TRUST COJENNINGS
LAFAYETTE
6220630 FIRST NB Of LAFAYETTE
LAKE CHARLES
6220650 CALCASIEU MARINE NAT BANK
6220060 FIRST NAT BK Of LAKE CHARLESLAKE CHARLES
LAKE CHARLES
6220670 GULF NB AT LAKE CHARLES
LAKE CHARLES
6220675 LAKE SIDE NATIONAL BANK
LA PLACE
6220695 RIVERLANDS NB IN LA PLACE
ll220160 FIRST NAT SANK IN MANSFIELD MANSFIELD
MINDEN
11220840 MINDEN BANK ANO ~RUST CO
MONROE
II22086C CENTRAL BANK
112206 lu OUACHITA NAT BANK IN MONROE MONROE
MORGAN C ITV
62 2 0890 FIRST NB IN ST HARV PARISH
NEW 18ER IA
6220950 NEW IRERIA NATIONAL BANK
NEW IBERIA
6220960 PEOPLES NB Of NEW IBERIA
6220970 STATE NAT BK Of NEW IBERIA NEW IBERIA
NEW ORLEANS
6220977 CENTURY NB IN NEW ORLEANS
6?2Qq79 BANI( Cf NE'i4 ORLEANS £. TR CO NEW ORLEANS
NEW ORLEANS
6220930 HIBERNIA NB INN ORLEANS
6220981 FIRST NAT BANK Cf COMMERCE NEW ORLEANS
NEW ORLEANS
6221000 NAT AM BK IN NEW ORLEANS
~EW ORLEANS
6221029 WHITNEY NB Of NEW ORLEANS
OPHCUSAS
622\097 FIRST NB Of OPELGUSAS
11221206 FIRST NAT BA~K Of RAYVILLE RAYVILLE
RUSTON
11221240 FIRST NAT BANK Of RUST6'1
ll2213JO cessERCIAL NB IN SHREVEPORT SHREV~PGRT
SHREVEPORT
11221320 FIRST NATIONAL BANK
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
LA
20783
31702
206518
281016
465449
44029
66268
88014
41680
19051
19897
31159
20603
28051
20 7664
53516
38129
133530
20095
141271
28934
159446
309434
69427
67932
66282
29892
30755
36241
194554
248688
77517
43806
49086
42177
16612
410804
597939
657386
288631
1190725
28647
l69LO
42026
402108
399359
121
VL TCSH
258
940
5000
4815
6452
1284
1183
2554
515
196
603
497
408
552
5422
1918
223
1301
641
3882
927
5237
5374
2110
1890
2595
131
1977
REQBAL
616
790
6148
10702
19076
407
1854
2052
1535
583
193
1126
628
674
5961
508
1293
5576
338
4710
590
5574
15590
1307
2525
1532
961
187
448
449
3970
5431
1487
1151
1447
1029
I37L
6050
8100
2062
966
1114
468
977
305
16299
32218
J5285
6762
79657
935
362
940
18948
12249
84 78
8094
~541
3035
9521
409
277
922
3729
9144
949
141
NEW
EPA
0
0
3402
5010
5029
0
362
597
468
0
0
0
0
0
H62
0
195
3866
0
2447
0
3532
5570
0
1281
151
NEW
REQBAL
0
0
0
2684
9307
0
0
0
0
0
0
0
0
0
0
0
0
346
0
0
0
0
6811
3897
0
0
0
0
0
0
0
1t943
179
948
0
0
0
0
0
139
0
0
35
0
0
0
0
5395
5564
6134
3963
5882
0
0
0
5356
5033
161
DIF
131-151
616
790
6148
8018
9769
407
1854
2052
1535
583
193
1126
628
674
5961
508
Izq3
5230
338
HID
590
5574
8719
1307
2525
1532
187
1029
1311
6050
792 I
2062
966
949
977
305
7401
8898
20679
25124
0
59842
0
0
0
10534
3401
11539
10161
6762
l98I5
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362
940
8414
8842
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Federal Reserve Bank of St. Louis
HEH8EA 8ANKS
DS8
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NAME
LOCATION
11221375 SOUTHERN NAT BK AT TALLULAH TALLULAH
6221400 LHOURCHE NB OF. THIBODAUX
THIBODAUX
11221455 F IAST NAT BK OF WEST MONROE WEST MONROE
OF
54 BANKS AFFECTED IN STATE
26
17
LA
LA
LA
BANK Cf HAINE NA
~EACHANTS NB OF BANGOR
MERRILL TRUST COMPANY
FIRST NB OF BAR HARBOR
CA~OEN NATIONAL BANK
F !AST NS OF DAMAR I SCOTT A
LIBERTY NB IN ELLSWORTH
UNION TA CO OF ELLSWORTH
18 BANKS AFFECTED IN STATE
12
5
HE
HE
HE
HE
HE
.HE
HE
HE
ME
HE
ME
HE
~E
HE
HE
HE
HE
HE
18735
52623
66813
245
955
1470
131
1977
REQBAL
141
NEW
EPA
554
1772
0
412
0
813
ANNAPOLIS BANKING & TRUST COANNAPOLIS
FAR~ER S tlAT BANK Of HARYLAIIOANNAPOLI S
FIRST NAT BK OF MARYLAND
BAL TIHOAE
MARYLAND NATIONAL BANK
BALT IHDRE
UNION TRUST COMPANY OF HD
BAL Tl HORE
ftH NAT BK OF C AHBR I OGE
CAHBR IDGE
NATIONAL SANK OF CAHBAIOGE CAMBA IDGE
CENTREVILLE NAT BANK OF HD CEtHREVlllE
FIRST NBUC Of WESTERN HD
CUMBERLAND
151
NEW
REQ8AL
0
0
0
161
OIF
131-151
554
1772
813
•
-------------
56071
52447
207291
22982
34247
27672
19010
39199
17279
14994
50466
24008
22609
179438
283732
140059
40203
15428
1350
966
3807
689
520
449
358
1224
359
372
886
200
314
5490
6419
222Z
1089
480
1457
1599
6077
HD
1050
631
641
632
375
2 55
1154
848
604
4012
8993
3856
523
64
181
422
4671
0
0
0
0
0
0
0
0
D
0
3599
4963
Z7Z4
0
D
0
0
D
0
0
0
D
0
0
0
0
0
0
0
2150
0
0
D
1457
1599
6077
340
1050
631
641
632
315
255
1154
848
604
4012
6843
3856
523
M
•
•
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•
•
•
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•
•
•
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HAVE NO REQUAED REsE,vE BALANCE
----------------------5240020
5240040
5240160
5240165
5240280
5240430
!>240440
5240470
5240610
121
VL TCSH
---------
AUGUSTA
BANGOR
BANGOR
BAA HARBOR
CAMDEN
DAMAR I SC OTTA
ELLSWORTH
ELLSWORTH
123l1370 FIRSTBAt-AK N A
FARMINGTON
1230390 NE BK NA Of FARMINGTON
FARMlt,GTON
1230400 FIRST NAT BANK OF AROOSTOOK FT FAIRFIELD
1230510 OCEAN NB OF KENNEBUNK
KENNEBUNK
1230650 NORWAY NATIO~AL BANK
NCR WAY
1230690 CANAL NATIONAL BANK
PORTLAND
1230720 ~AINE NATIONAL BANK
PORTLAND
1230760 NORTHERN NATIONAL DANK
PRESQUE ISLE
lZJ0845 NORTHEAST BANK OF SANFORD
SANFORD
1230900 SPRING VALE NATIONAL BANK
SPRINGVALE
OF
Ill
TDEP
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO AEQURED RESERVE BALANCE
---------------------1230055
1230110
1230120
1230150
1230300
1230320
1230350
1230360
1117/79
-------------------------------------------HD
HO
HD
HO
HO
HD
HD
HD
HO
66934
89584
1120629
2024830
826287
17297
30801
26287
87093
998
1451
30890
36094
23125
443
318
136
1683
2030
3628
34704
83567
24204
256
934
1024
2773
H8
0
1849
0
5214
19392
4963
4999
50970
10537
0
39
87
986
0
0
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0
2030
3628
15312
32597
13667
256
934
IOH
2773
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
MEMBER BANKS
Ill
OSB
NAME
524062 0
5240670
5240790
5240820
5240830
5240880
5241055
524lll0
5241120
52.,l240
5241250
524 I 26 O
5241330
5241410
5241427
524142q
5241480
5241620
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52'tl 820
5241830
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TOEP
LOCATION
LIBERTY TRUST COMPANY OF HO CUMBERLAND
DENTON NATIONAL BANK
DENTON
FOREST HILL STATE SANK
FORE ST HILL
FORMERS t MECHANICS NAT BANKHEOERICK
FPEOERICK CTY NB OF FRORICK FREDERICK
FROSTBURG NATIONAL BANK
FROS T8URG
CENTRAL NATIONAL SANK Of HD HILLANDALE
LAUREL
CITIZENS NATIGNAL BA:1K
FIRST NB OF ST SARYS
LEONARDTCWN
FIRST NAT SA.r~K OF NORTH EASTNORTH EAST
FIRST NAT BANK OF OAKLAND
OAKL ANO
GARRETT NAT BANK IN OAKLAND OAKLANO
E:AST[RN SHORE NATIONAL BANK
N.\ Tl ONAL BK OF RISING SUN
ST A TE NA Tl ONAL BANK OF MO
UNIVERSITY NATIONAL BANK
SA~OY SPR J NG trn t SVG INST
THUR"tONT BANK
CHESAPEAKE NATIONAL BANK
FIRST NB OF SOUTHERN MO
UNION "B OF WESTMINSTER
w•SHINGTON CTY NAT SVG BK
MOO OR I NE NATIONAL BANK
POCOMOKE C (TY
RISING SUN
ROCKVILLE
ROCKVILLE
SANDY SPRING
THURMONT
TOWSON
UPPER MARLBORO
WEST HI NS TE R
WILL IA,~SPORT
WOOOB INE
32 BANKS AFFECTED IN STATE
13
16
HO
HO
HO
HD
MO
MO
HO
HO
HO
110
HO
HO
MO
110
HO
HO
HO
HD
HO
HO
HO
HO
MO
1/17/79
121
VL TCSH
78056
28113
26692
173491
2988
298
356
4161
850
934
906
4104
32442
364
1012
26201
39420
83698
44543
19267
74332
52429
35015
15287
86054
107336
50580
27527
36423
68502
35852
16558
15135
121:>03q 5
1250487
1250535
1250560
12 50695
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12 50795
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1251100
1251140
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A~HERST
BARNSTABLE CTY NB Of HYANNI SBARNSTABLE
BEVERLY NATIONAL BANK
BEVERLY
FIRST N~ OF BOSTON
BOSTON
HARBOR NS OF BOSTON
BOSTON
NEW HGLANO MRCH NAT SK
BOS TON
SHAWMUT BANK Of BOSTON NA
BOSTON
ST ATE STREET BANK ANO TR CO BOSTON
Pl Y'-IOUTH HOME NAT BANK
BROCK TON
SH.,<MUT FIRST COUtHY BANK NABROCKTON
BAYBANK H100LESEX NA
BURLINGTON
SHA'rl'tUT COUNTY SANK NA
CA'1gRIOGE
BROADWAY "18 OF CHELSEA
CHELSEA
NATlmJAL BANK OF FAIRHAVEN
FAIRHAVEN
FALL RIVER NATIONAL SANK
FALL RIVER
141
NEW
EPA
0
2274
52
570
0
1821
3256
915
491
1494
414
1333
1894
506
524
597
1761
1138
344
158
186
2167
1574
841
259
3329
4310
2033
665
1288
1631
351
346
44 7
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2
574
369
151
NEW
REQBAL
0
2049
1142
765
1068
802
635
0
0
611
258
0
0
2043
26'6
651
0
0
120
0
0
0
0
0
0
0
0
161
OIF
131-151
850
934
906
4104
1012
570
1821
3256
915
186
2167
1574
841
259
3329
4310
2033
665
1288
1631
351
346
447
•
•
.••
•
•
.
•
••
..
.•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
--------------------------------
-----------------------------------------------------------------------------1250090
1250206
1250230
1250370
131
1977
REQBAL
HA
MA
HA
HA
HA
HA
HA
HA
HA
HA
MA
HA
HA
HA
HA
43729
28066
21532
3190832
52864
1076146
1209277
1021642
137639
65806
385438
161974
23936
21607
5 7565
1508
500
724
49863
119
10735
33755
10969
4917
2049
10974
3094
411
492
1370
5H
933
448
128830
3774
55558
43493
60968
3790
2151
12621
7170
1071
551
1746
0
0
0
0
0
0
5182
2399
87968
5233
5650
5875
2060
854
5290
5197
0
0
645
40813
0
30265
45017
0
0
6169
731
0
0
0
545
933
448
40862
3774
14745
13228
15951
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2151
6452
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1071
551
1146
•
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
'IEH,ER BANKS
BENEFIT TO BANKS COVERED BY MODIFIED H,R, 7
Ill
DSB
NAME
1251160
ll5II80
1251188
1251.265
I25i3I5
1251340
I2Sl400
1251425
1251445
1251410
1251560
1251640
1251670
1251110
1251910
1251938
1252000
1252060
1252230
1252Jb0
1?52372
1252375
l.!52 510
1252572
1252605
l25.2Q40
1252963
1253085
1253130
1253135
1253180
1253218
1253211
I25BJ2
1253370
1253565
1253720
1251780
1253630
OF
LOC4TION
TDEP
FALL RIVER TRUST COMPANY
FALL RI VER
FAL ~OUTH NATIONAL BANK
FALMOUTH
IS T SFTY FNO NB Of FTCHBRG FITCHBURG
SHAW.~UT COMMUNITY BANK NA
FRAMINGHAM
CAPE ANN BANK ANO TR~ST CO GLOUCESTER
GLOUCESTER NB Of GLOUCESTER GLOUCESTER
FRA~KLIN COUNTY TRUST CO
GREENFIELD
PIOtlEER NAT BANK - FRANKLIN GREE NF I ELD
BAYBANK MERRIMACK VALLEY NA HAVERHILL
H4V E•H I LL NAT IO~AL BANK
HAVERHILL
OLD CLNY BK OF HHPON crv NA HOLYOKE
HUDSON NATIONAL BANK
HUDSON
CAPE COO BANK t TRUST CO
HYANNIS
MY STATE NATIONAL BAIIK
LAWRENCE
UNION NATIONAL BANK
LCWELL
SECURITY NATIONAL BANK
LYNN
f IRST NAT BK Of HALDEN
HALDEN
NAT GRANO BK Of MARBLEHEAD MARBLEHEAD
t!OSE NAT BANK Of MILFORD
HILFORQ
SHA~HUT NEEDHAM BANK NA
NEEDHAM
aAYBANK MERCHANTS NA
NEW BEDFORD
FIRST N~T OK Of NEW BEDFORD NEW BEDFORD
~'JRTHA~PTON NATIGNAL BANK
~ORT HAMPTON
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NCR THAHPTON
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ORL(ANS
NAU~KEAG TRUST CC"PANY
SALEM
SHAaMUT MERCHANTS 8ANK NA
SALEH
HAMPSHIRE NB OF SHADLEY
SCUTH HADLEY
SECURITY NS Of SPRINGFIELD SPRINGFIELD
SHAWMUT FIRST BANK£ TR CD SPRINGFIELD
TH I RO 118 Of HAM POE N C TY
SPRINGFIELD
BAYBANK UNITED N A
TAUNTON
FIRST BRISTOL CDU~TY NAT BK TAUNTON
HARTHAS VINEYARD NAT BANK
VIN~YARD HAVEN
NAT I ONAL BANK OF WAREHAM
WAREHAM
BLACKSTONE VALLEY NA.T BANK WHIT INSVlllE
WOBURN NATIONAL BANK
~CBURN
WORCESTER COUNTY NAT BK
WORCESTER
OLD CLY BK Of BRNSBLE CTY NAYARHOUTH
54 eANKS AFFECTED IN STATE
------------------------------
23
23
HA
HA
MA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
HA
MA
MA
HA
HA
HA
HA
HA
HA
HA
87544
3991,5
52204
123478
52411
21925
39358
3h24
86884
40022
41346
34669
101975
103236
177180
87032
27083
22776
249B5
51620
65332
87192
26292
15153
H871
42153
61145
22836
32472
146651
306304
78116
112098
19123
24496
26884
24294
495382
36208
1/17/79
121
VL TCSH
2539
1039
2847
2073
1332
421
1059
118
2035
1604
1784
832
2292
2756
7794
2208
659
475
737
987
3484
2783
1050
587
808
2633
2221
381
785
7095
8462
1568
3328
386
1028
1113
1052
19537
1016
131
1977
REQBAL
17U
1001
421
5073
1561
593
1>90
1141>
2675
820
992
1250
3140
2595
2533
2659
681
784
373
1<>97
225
2353
241
308
1231
38
1993·
713
890
1867
8758
3050
2119
455
272
272
214
9693
599
141
NEW
EPA
238
38
0
411>0
372
0
0
689
2021
0
0
183
2H9
1890
1135
1421
0
0
0
885
0
917
0
0
586
0
755
0
0
671
5HI
1777
1333
0
0
0
0
5515
55
151
NEW
REQBAL
11>1
Olf
111-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1722
0
0
0
0
0
0
1568
0
17'3
1001
421
5073
1561
593
1,90
1146
2675
820
992
1250
3HO
2595
2533
2659
681
784
373
1697
225
2353
241
308
1231
38
1993
713
890
18<>7
7031,
3050
2119
455
272
272
214
8125
599
•
•
••
••
••
•
•
••
••
•
••
••
•
••
•
•
•
.••
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
-------------------------
-----------
....
~
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
HE~BER BANKS
DS3
7260025
7260030
7260092
7260108
1260160
72601 75
72f>Ol~C
7260245
7200310
7260320
72l0~45
72f0410
'9260430
72~0:.65
7260500
7200530
7260590
7266605
7260610
7260630
qz60635
9260640
7U,0660
7260750
7260755
7260820
7260H30
7260840
7260860
726Jq]I)
7261010
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72SI045
72<1047
7261103
72&1105
7261120
72t,l L25
7261160
7261170
7261HO
72t.l240
7261285
7211)1290
'9261310
7261437
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NAME
BANK OF LENAWEE COUNTY
cc,,ERCI AL SAVINGS BANK
AMERICAN NB IN WESTERN HI
LOCATION
ADRIAN
ADRIAN
ALLEGAN
CENTRAL NB OF ALMA
ALMA
M:N ARBOR BANK t TRUST CO
ANN ARBOR
HURON VALLEY NATIONAL BANK
ANN ARBOR
NB t TRCO OF ANN ARBOR
ANN ARBOR
FIRST NAT BK OF BAD AXE
BAD AXE
SECRTY NB OF BATTLE CREEK
BATTLE CREEK
BAY CITY BANK & TRUST CO
BAY CITY
PEOPLES NB t TR CO Of BAY CY8AY Cl TY
F & M NB 1 N BENTON HARBOR
BENTON HARBOR
BESSE~ER NATIONAL BANK
BESSE HER
FIRST NAT BANK t TRUST
BIG RAPIDS
BLISSFIELD STATE BANK
BLISSFIELD
BRECKENRIDGE
FA•SERS SB Of BRECKENRIDGE
BRGl'IN CITY SAVINGS BANK
BROWN CITY
MICHIGAN NATIONALBANK-HID HIBURTON
BVROIIJ CENTER STATE 84NK
BYRON CENTER
ST ATE BK Of CALEDONIA
CALEDONIA
CALUMET
1ST NB CALU"ET-LK LINDEN
MERCHANTS AND MINERS BANK
CALUMET
CAPAC STA TE SAVINGS BANK
CAPAC
FIRST NB Of CASSOPOLIS
CASSOPOLIS
MICHIGUj N!3-HJCHIANA
CASSOPOLIS
CHEBUYGAN BANI(
CHEBOYGAN
CHEBOYGAN
CITIZENS NS OF CHE BOY GAN
CHELSEA STATE BANK
CHELSEA
CITIZENS BANK t TRUST CO
CLARE
SOUTHER~ HI NB Of COLDWATER COLDWATER
STATE BK Gf CROSWELL
CROSWELL
FIRST NB BK Of CRYSTAL FALLSCRYSTH FALLS
OEAQ.BORN BANK AND TRUST CO DEARBORN
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FIRST NB OF FENTGN
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f'tE~ONT BA"< t TRUST CO
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HARBOR BEACH
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NATiONAL BK OF HASTINGS
HASTINGS
HILLSDALE COUNTY NAT SANK
HILLSDALE
HILLSDALE STATE SAVINGS BK HILLSDALE
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K.ENT CITY STATE BANK
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BENEFIT TO BANKS COVERED BY HODIFIED H.R. 7
HEM3ER BANKS
NAME
LOCATION
LANSING
MICHIGAN NATIONAL BANK
LAPE ER
FIRST NAT BK OF LAPEER
LA PEER COUNTY BANK t TRUST LAPEER
PEOPLES BK OF LESLIE
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RICH.SONO
N4T BK OF RI CHMONO
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NATIONAL BANK OF ROCttESTER
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MEMBER BANKS
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7263749
7263750
7263775
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FIRST NAT BK Of ST IGNACE
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CENTRAL NB OF ST JOHNS
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1ST 118 OF SAULT STE MARIE
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NAT ~K Of SOUTHFIELD
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SECURITY BANK AND TRUST CO SOUTHGATE
CITIZENS TR AND.SVCS BK
SOUTH HAVEN
ASER ICAN NB-WEST
SOUTH HAVEN
SPARTA STATE BANK
SPARTA
CITIZENS STATE BANK
STURGIS
FIRST NAT BK AND TR CO
STURGIS
NATIO'IAL BK WYAN00TTE-TAYLORTAYLOR
FIRST NB OF THREE RIVERS
THREE RIVERS
EMPIRE NB Of TRAVERSE CITY TRAVERSE CITY
SIC~IGAN NB - GRA~0 TRAVERSETRAVERSE CITY
NB AND TR CO OF TRAVERSE CY TRAVERSE CITY
PEO•LES BA~K ANO TRUST NA
TRENTON
DETROIT BANK-TROY
TROY
HICHIGA~ NAT BK-tlORTH METRO TROY
DETROIT 8A~K-WA•RfN NA
WARREN
MICHIGAN NU BK OF MACOMB
WARREN
WAR~f N BU~K
WARREN
FIRST tlB OF WATERVLIET
WATERVLIET
WAY'IE BANK
WAYNE
STATE SVGS BK Of W BRANCH
WEST BRANCH
PEOPLES STATE BANK
WILLIA~STDN
WYA'ID0TTE SAVINGS BANK
WYANDOTTE
~ICHIGAN NAT BA~K-WYDHING
WYOMING
NAT BK OF YPSILANTI
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--------
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NAME
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FIRST NWSTRN NAT BANK
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CHA SKA
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ROOT RI VER STATE BANK
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FIRST NB BK OF DEERWOOD
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FIRST NB Of DETROIT LAKES
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DULUTH NATIONAL BANK
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~IRST N.JST~N NAT gK Of ELY
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FIRST NWSTRN NB OF EVELETH EVELETH
HN
MN
MN
MN
MN
MN
MN
HN
HN
MN
MN
MN
MN
HN
HN
HN
MN
MN
HN
HN
MN
MN
MN
HN
HN
HN
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MN
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MN
MN
HN
HN
HN
MN
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MN
MN
MN
MN
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HN
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18839
26301
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32126
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24647
24715
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137
584
363
316
763
245
863
609
58
108
395
411
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128
109
339
102
223
112
147
151
278
104
413
360
796
90
222
157
148
559
899
131
1917
REQBAL
538
862
953
978
1172
1890
908
2342
745
472
506
1659
111
285
397
5768
758
628
1214
515
754
774
465
404
529
482
345
356
602
498
1228
608
141
NEW
EPA
0
128
0
17
151
NEW
REQBAL
0
0
0
0
0
0
329
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3959
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
106
481
0
912
58
236
0
93
157
0
0
0
0
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0
0
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15
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0
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0
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173b
777
687
859
607
7258
5536
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278
876
300
960
782
250
329
290
752
0
610
0
0
0
0
0
0
0
0
0
0
1496
3714
3299
680
TOI
324
0
0
0
0
2221
2052
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38
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161
DIF
131-151
538
862
953
978
1112
1890
908
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745
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506
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285
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92 72040
9272050
9272060
9272070
9272110
9272112
9272310
9272420
9272430
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9272660
9272780
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FAIRMONT NATIONAL BANK
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MARllN CTY NB OF FAIRMONT
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Fl RST NW NAT BK Of FARIBAULTFARIBAULT
FIRST NB OF FERGUS FALLS
FfRGUS FALLS
FERGUS FALLS
NW NAT BK OF FERGUS FALLS
FIP.ST NAT BK OF GLENCOE
GLENCOE
FIRST NWN NB Of GRAt.O RAPIOSGRANO RAPIDS
GRANO RAPIDS
G~A~D RAPIDS STATE BANK
FIRST NAT BK OF HASTINGS
HASTINGS
NW NAT BK OF HASTINGS
HASTINGS
FIRST l'IAT BK OF HIBBING
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FIRST MAT BK CF HOPKINS
NWN NAT BK OF HOPKINS
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Fl RST NB OF HUTCH I SON
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FIRST NB OF !NTERNATL FALLS It, TE RNA TL FALLS
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FIRST NATL BANK IN JACKSON
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L4KE CRYSTAL NATIONAL BANK
FIRST NAT 8K IN LAKEF !ELD
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No NAT BANK OF LITCHFIELD
A.'1ERICAN NB IN LITTLE FALLS LITTLE FALLS
FIRST NAT BK OF LITTLE FALLSLITTLE FALLS
LGNG PRAIRIE
FIRST NB OF LQNG PRAIRIE
FIRST UAT BK OF LUVERNE
LUVERNE
FIRST NAT BK Of HAO EL
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FARMERS ST BK OF MADELIA
KLEIN NAT BANK OF MADISON
MADI SON
FIRST NAT BK OF ~ANKATO
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9273780 N~ NAT BK OF MANKATO
9273840 FIRST NW NB OF MARSHALL
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Ml NNEAPOLI S
CTR L NW NB OF MINNEAPOLIS
MINNEAPOLIS
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MINNEAPOLIS
FIFTH NW Ng OF MINNEAPOLIS
MINNEAPOLIS
1ST BL•NGTl'I LK NB M!NNEAPOLSMINNEAPGLIS
1ST MINEHAH NB MI-NNEAPOLIS MINNEAPOLIS
MINNEAPOLIS
1ST NB OF ~INNEAPOL!S
FOU?,TH NORTHWESTERN NATL BK MltlNEAPOllS
MARQUETTE NB OF MINNEAPOLIS MINNEAPOLIS
SARQUETTE NAT BK AT UNIV
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MDL4NO NB OF MINNEAPOLIS
M!NNEAPOLI S
NAT !ONAL CITY BANK
NORTHWESTERN NATIONAL BAN.K
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MN
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MN
MN
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MN
MN
MN
MN
MN
MN
MN
MN
MN
MN
MN
MN
MN
MN
MN
MN
MN
MN
HN
MN
MN
HN
MN
MN
MN
MN
MN
MN
MN
MN
MN
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1/17/79
II I
121
TDEP
VllCSH
24941
35653
26113
55896
32295
54348
19829
47333
36652
24365
39612
48706
81835
74203
20894
22629
24152
18633
15141
15341
27936
28710
16648
30644
23796
14993
13553
18599
60603
35031
72277
64148
19418
25538
96323
79707
64628
63130
84529
1336640
43213
205527
17958
150468
160929
1374333
161
271
116
417
317
522
208
793
304
204
779
833
563
668
241
345
153
144
46
145
128
622
208
247
108
77
84
60
608
193
766
166
136
232
771
521
624
545
591
10703
412
4471
218
1945
936
13261
131
1971
REQBAL
141
NE\o
EPA
842
1131
972
1844
1012
53
106
56
452
153
373
0
1502
512
1173
0
1341
753
846
215
107
1144
129
2012
1421
3153
2819
543
529
965
605
533
465
913
555
542
94 l
833
483
391
621
1909
1173
2721
2525
722
912
3476
3370
2750
2098
3043
62728
1911
5776
698
6784
8012
68354
0
0
0
5
0
0
0
191
0
0
67
143
0
0
47
564
161
941
C51
1-!EW
REOBAL
0
0
0
0
842
1131
0
1012
1502
512
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1101
0
0
2109
0
0
0
1945
0
0
0
0
1221
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1598
5334
582
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5021
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45315
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1844
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1341
753
846
1144
3153
2819
543
529
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533
465
913
555
542
941
833
483
391
621
1909
1173
2721
2525
722
912
34 72
3370
2750
2098
3043
17590
1911
5776
698
6784
6468
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TDEP
121
VL lCSH
36462
46099
231
419
414
120
320
140
64
89
156
167
184
93
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MINNEAPOLIS
1ST NB IN HONTEVIOEO
MONTEVIDEO
MONTGOMERY
FIRST NATIONAL BANK
F IRSl NS IN MQOqHHO
MOORHEAD
PEOPLES NATIONAL BANK
HORA
f I DEL ITV ST BK OF NEW PRAGUENEW PRAGUE
FIA.ST NATL BK Of NORTHFIELD NORTHFIELD
NORTHFIELD NATIONAL BA~K
NORTHFIELD
NORTHWESTERN STATE BANK
NORTHF I ELO
VALLEY NATIONAL BANK
NORTH MANKATO
TR I CTY ST 8K OF GRTONVILlE ORTONVILLE
OSAKIS
FIRST NAT BK OF OSAKlS
FIRST NAT BK OF CWATONNA
CWA TGNNA
NOR T1-t,1E STERN NB OF OJAT ONNA OWATONNA
PARK RAPIDS
CITIZHlS NB OF PARK RAPIOS
FIRST NAT BK OF PINE CITY
PINE CITY
FIR ST NB OF PIPESTONE
PIPESTONE
PIPESTONE NATIO~UL BANK
PIPESTONE
PLAINYIEW
FIRST NB OF PLAINVIEW
PEOPLES STATE BANK
PLAINVIEW
FI RS T NW NB OF RED WING
REO WING
GOODHUE CTV NB OF RED WING
REO WING
FIRST NORTHWESTERN NAT BK
REDWOOD FALLS
RICHFIELD
SU,"1"'11 T ST BK OF R ICHF IELO
FIRST NB OF ROCHESTER
ROCHESTER
NW NB OF ROCHESTER
ROCHESTER
FIRST NB IN ST CHARLES
ST CHARLES
fl RST AM~R NS Of S l CLOUD
ST CLOUD
ST CLOUD NAT BK 6 TR CO
ST CLOUD
ZAPP NATIONAL BAN!<.
ST CLOUD
Fl R ST NS AT ST JAMES
ST JAMES
SHELARD NATIONAL BANK
ST LOUIS PARK
PARK NATIO~AL PARK
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A.'-iE~ICAN NAT SAK r. TR. co
Sl PAUL
FI RS T NB OF ST PAUL
ST PAUL
ST PAUL
LIBERTY STATE BANK
.'1ID~AY NB OF ST PAUL
ST PAUL
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NW NAT BK OF ST PAUL
SUM"II T NATIONAL BANK
ST PAUL
ST PETER
FIRST NB OF ST PETER
FI RS T NATIONAL BANK
SAUK CENTRE
FIRST NB OF SHAKOPEE
StiAKDPEE
NW NB OF S ST PAUL
SOUTH ST PAUL
FIRST NATIONAL BM4K
ST ILL WATER
1ST NWSTRN NB OF TWO HARBORSt.O HARBORS
MN
HN
MN
MN
MN
MN
MN
MN
HN
MN
HN
MN.
HN
HN
MN
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MN
HN
MN
HN
HN
MN
MN
MN
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MN
MN
MN
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HN
HN
MN
HN
HN
HN
MN
MN
MN
MN
HN
MN
MN
HN
MN
MN
HN
40%1
14911
78032
23688
13736
18719
16798
21127
21438
12768
12750
30556
55240
18674
20909
29079
14627
20785
14359
30904
42926
36672
24345
102134
117534
18787
88405
42461
55887
16055
16140
24053
219510
1259522
32534
l079B4
219883
IB715
29729
19258
27666
64239
46126
18468
14
201
433
357
127
202
76
89
131
1917
REQBAL
141
NEW
EPA
1598
16 79
1127
380
3136
714
466
682
478
338
0
493
0
0
0
0
0
0
646
667
355
400
1083
2168
412
752
1032
513
698
129
0
1386
56
0
24
0
0
4
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
251
737
0
8
0
0
32
100
261
398
214
453
428
1002
1301
769
0
1456
1813
3268
1601
1485
3
1285
118
174
113
1079
517
813
218
284
304
4012
7389
271
1443
1562
372
IB7
110
374
389
306
152
1115
3067
519
2554
1223
1440
315
442
829
6828
57356
1180
4111
8624
413
918
569
1006
2142
1541
531
151
NEW
REQ6AL
0
80
263
165
0
0
0
0
0
0
0
0
4384
0
43361
5231
13
2415
4936
0
197
22
0
1090
616
0
0
0
1332
0
0
0
0
0
0
0
161
DIF
131-151
1598
1679
1127
380
3136
714
466
682
418
646
667
355
400
1083
2168
472
752
1032
513
698
428
1002
1301
1115
789
3268
3067
519
2554
1223
1440
315
442
629
6B28
13995
1180
4111
7292
413
918
569
1006
21'2
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531
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Federal Reserve Bank of St. Louis
MEMBER BANKS
Ill
OSB
9216200
9216210
9176240
9276250
9216260
9270262
9216270
9276350
9276565
9276570
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OF
NAME
FIRST NB OF VIRGINIA
NW STATE BK OF VIRGINIA
FIRST NB BK OF WACONIA
FIRST NB OF WADENA
WAOE~A STATE BANK
PLAZA PARK STATE BANK
FIRST NS Of WALKER
FIRST NAT BK OF SASECA
CITIZENS NB OF WILLMAR
FIRST NB OF WILLMAR
FIRST NB OF WINDO~
FIRST NORTHWESTERN NAT BANK
MERCHANTS NB OF WINONA
WINQNA NAT & SAVINGS BK
FIRST NB IN WORTHINGTON
LOCATION
MN
MN
MN
MN
HN
MN
MN
HN
MN
MN
l'IN
l'IN
MN
MN
MN
VIRGINIA
VIRGINIA
WACONIA
WADE~A
WADENA
WAITE PARK
WALKER
WASECA
WILL HAR
WILLl'IAR
WINDOM
WINONA
WINONA
WINONA
WORTHINGTON
IH BANKS AFFECTED IN STATE
68
79
TOEP
121
VL TCSH
57415
62601
23128
16521
18022
19204
20189
3002
20379
38171
22698
68217
85267
50887
47265
652
1097
187
161
163
539
110
288
317
422
104
935
585
514
591
131
1911
REQBAL
1579
12h
793
512
630
256
801
950
397
1081
803
1736
2914
U60
1286
141
N[W
EPA
151
NEW
RC~BAL
415
30
0
0
0
0
0
0
4
0
0
186
0
62
1/34
0
0
0
0
0
0
0
0
0
l71't
0
596
0
0
0
161
Dlf
131-151
1519
1284
793
512
630
256
801
950
397
1081
803
1736
291',
1460
1286
•
••
•
•
••
••
•
••
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUI REO RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
METROPOLITAN NATIONAL UNK BILOXI
FIRST NAT BK OF CLARKSDALE CLARKSDALE
FIRST COLU~BUS NATIONAL BANKCCLUHBUS
M~RCHANTS ANO FARMERS BANK COLUMBUS
NAT BK OF CMRC OF CORINTH
CORINTH
BANK CF FOREST
FOkEST
FIRST NAT BK OF GREENVILLE GREENVILLE
GULF NATIONAL BANK
GULFPORT
CIT'llENS BK OF HATTIESBURG HATTIESBURG
FIRST MISSISSIPPI NAf BK
HATTIESBURG
DEPOSIT GUAPANTV NAT BA~K
JACKSGN
FIRST NAT BANK Of JACKSON
JACKSON
COM~FRC I AL NB ANO TRUST CO LAUREL
FIRST NATIONAL BK OF LAUREL LAUREL
FIRST NAT BK OF HOLMES CTV LEXINGTON
Cl TIZENS NAT BK OF ~ERIOIAN MERIDIAN
PASCAGOULA MOSS POINT BANK HOSS POINT
BRITTON ANO KOONTZ FIRST NB NATCHEZ
FIRST NATIONAL BANK
NEW ALBANY
FIRST NATIONAL BK OF NEWTON NEWTON
FIRST NB OF JACKSON CTV
OCEAN SPRINGS
FIRST NAT BA'IK Of OXFORD
OXFORD
CI Tl ZENS NATIONAL BANK
PASCAGOULA
....
--------------
----------------------------------6280165
8280325
82Bono
8280400
8280425
62BOSqo
8280650
62807l0
6290740
6290750
6280900
6260910
628096-0
6280970
8291010
6281190
6281250
62H210
d2913•)5
6281325
6231355
8281400
6281405
l/ 17/79
BENEFIT TO BANKS COVERED BY ~OOIFIEO H.R. 7
MS
HS
HS
HS
MS
HS
MS
HS
MS
HS
MS
MS
HS
MS
HS
HS
MS
HS
HS
HS
HS
HS
HS
16614
34062
72200
41947
35343
22227
53142
48979
46983
259227
. 825483
7 24352
80659
66841
24844
78061
55599
34617
44868
16109
40382
21255
16028
332
763
1137
1333
545
300
1148
1777
1675
6708
10641
14101
1992
1323
386
2048
2504
914
961
216
1472
392
257
340
640
2806
899
1299
752
1363
683
784
9967
.39382
30537
2138
1714
745
1708
1233
929
1458
352
661
IOl't
410
~
0
0
340
0
0
640
2806
899
1299
752
1363
683
784
7154
10462
7907
2138
1714
745
1108
1233
929
1458
352
661
1011
410
872
0
217
0
HI
0
0
0
0
0
0
0
0
0
5988
2813
5670
6029
1196
271
0
28920
22630
0
0
0
0
0
0
0
0
27'1
0
0
0
0
0
0
0
0
563
0
••
••
•
••
•
•
••
•
••
•
•••
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
HEHBER BANKS
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
Ill
osB
9274105
9274110
9274155
92741d5
9274210
9214235
9274420
9274510
9274520
9274530
9214535
9274665
q274b70
9274710
9274713
9274740
921 1,'BO
927486.0
9?74870
9274890
9274890
9275000
9275010
9275020
9275068
9275090
9275095
92753:'.>0
9275320
9275340
9275350
927537C
'1275394
92 75396
9275410
9275480
921552 0
9275530
92"15545
9275575
92755<,)0
9215655
9275700
9275783
~.?75940
9276090
NAME
TDEP
LOCATION
MINNEAPOLIS
SECOND NW NB OF MINNEAPOLS
THIRD NW NB OF MINNEAPOLS
MINNEAPOLIS
1ST NB IN HONTEVIOEO
MONTEVIDEO
FIRST NATIONAL BANK
MONTGOMERY
FIRST NB IN MCO~HEAD
MOORHEAD
HORA
PEOPLES NATIONAL BANK
f IDEL ITY ST BK Of NEW PRAGUENEW PRAGUE
FIRST NATL BK Of NORTHFIELD NORTHFIELD
NO RT Hf !ELD NATIONAL BANK
NORTHFIELD
NORTHWESTERN STATE BANK
HORT HF I ELD
VALLEY NATIONAL BANK
NORTH MANKATO
TRI CTV ST BK Of GRTONVILI.E ORTONVILLE
OSAKIS
FIRST NAT BK OF OSAKIS
CWATONNA
FIRST NAT BK Of CWATONNA
NORTH>ESTERN NB Of OSATONNA OWATONNA
PARK RAPIDS
CITIZHJS NB Of PARK RAPIDS
FIRST NAT BK Of PINE CITY
PINE Cl TY
FIRST NB Of PIPESTONE
PIPESTONE
PIPESTONE NATIO,lAL BANK
PIPESTONE
FIRST NB Of PLAINVIEW
PLAINVIEW
PEOPLES STATE BANK
PLAINVIEW
FIRST NW NB Of RED WING
RED WING
GOODHUE CTY NB Of RED WING RED WING
REDWOOD FALLS
FIRST NORTHWESTERN NAT BK
SU1-t"'!(T ST 6K OF R(CHFIELO
RICHFIELD
ROCHESTER
f IRST NB OF ROCHESTER
NW NB Of ROCHESTER
ROCHESTER
ST CHARLES
FIRST NB IN ST CHARLES
FIRST AM~R NB Of ST CLOUD
ST CLOUD
ST CLOUD
ST CLOUD NAT BK & TR CO
ZAPP NATIONAL BANK
ST CLOUD
FIRST NS AT ST JAMES
ST JAMES
SHELARO NATIONAL BANK
ST LOUIS PARK
PARK ~ATIO~AL PARK
ST LOU! S PARK
ST PAUL
A:<ER ICAN NAT BAK & TR
f IRST NB Of ST PAUL
ST PAUL
UBER TY STATE BANK
ST PAUL
Ml D~AY NB Of ST PAUL
ST PAUL
ST PAUL
NW NAT BK Of ST PAUL
ST PAUL
SU/11'1I T NATIONAL BANK
FIRST NB Of ST PETER
SI PETER
SAUK CENTRE
FIRST NATIONAL BANK
FIRST NB Of SHAKOPEE
SltAKCPEE
NW NB Of SST PAUL
SOUTH ST PAUL
STILLWATER
f(RST NATIONAL BANK
1ST NWSTRN NB Of TWO HARBORST1,0 HARBORS
co
MN
MN
MN
MN
MN
HN
MN
MN
MN
MN
HN
MN.
MN
MN
HN
·HN
HN
MN
HN
HN
HN
HN
MN
MN
MN
MN
MN
MN
HN
MN
MN
HN
HN
MN
HN
HN
HN
HN
HN
HN
MN
HN
MN
MN
MN
MN
36482
48099
40961
l49ll
78032
23688
13736
18719
16198
21127
2H38
12788
12750
30556
55240
18674
20909
29079
14627
20785
14359
30904
42926
3667 2
24345
102134
117534
18787
88405
42461
55887
16055
16140
24053
219510
1259522
32534
107984
219883
18715
29129
19258
2766B
64239
46126
18468
1/17/79
121
VLTCSH
231
419
414
120
320
HO
64
89
156
167
184
93
74
201
433
357
127
202
76
89
100
261
398
214
453
1456
1813
113
1079
517
813
218
284
304
4012
7389
277
1443
1562
372
187
110
3H
389
306
152
131
1971
REQBAL
141
NEW
EPA
1598
lL79
1127
380
3136
714
466
682
478
338
493
646
667
355
400
1083
2168
472
752
1032
513
698
428
1002
1301
1115
789
3268
3067
519
2554
1223
1440
315
442
829
- 6828
57356
1180
4111
8624
413
918
569
1006
2142
1541
531
129
0
1386
56
D
24
0
4
0
0
0
251
737
0
8
D
0
151
NEW
REQBAL
D
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
l2
0
0
80
263
0
185
0
1601
1485
3
l2B5
118
174
0
0
0
43H
5231
13
2415
4936
0
197
22
0
1090
616
0
0
0
0
0
0
0
0
0
0
0
D
0
0
0
43361
0
0
1332
0
0
0
0
0
0
0
161
OIF
131-151
1598
1679
1127
380
3136
7H
466
682
478
646
667
355
400
1083
2168
472
752
1032
513
698
428
1002
1301
1115
789
3268
3067
519
2554
1223
1440
315
442
829
6828
13995
1180
4111
7292
413
918
569
1006
2142
1541
531
•
•
••
•
••
•
•
•••
•
•
•
•
•
•
•
••
•
••
•
•
•
•
•
•
•
.••
•
•
....
.......
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY ~001 F IED H.R. 1
MEMBER BANKS
Ill
DSB
NAHE
9276200 FIRST NB OF VIRGINIA
9276210 NW STATE 9K OF VIRGINIA
9276240 FUST NB BK OF WACONIA
927t::250 FIRST NB Of WADENA
9276260 WADENA STATE BANK
9276262 PLAZA PARK STATE SANK
9216270 HR ST NS OF WALKER
9276350 FIRST NAT BK OF nASECA
9276565 CITIZENS NB Of WILLMAR
9276570 FIRST NB OF WILLMAR
9276590 FIRST NB OF WINOO~
9216610 FIRST NORTHWESTERN NAT BANK
9276640 MERCHANTS NB OF WINONA
9276650 WINQNA NAT, SAVINGS BK
9276685 FIRST NB IN WORTHINGTON
OF
TDEP
LOCATION
VIRGINIA
HN
MN
MN
MN
HN
MN
HN
HN
HN
VIRGINIA
WACONIA
WADENA
WADENA
WAITE PARK
WALKER
WASECA
WILL HAR
WILL HAR
WINDOM
WINONA
WINONA
WINONA
WORTHINGTON
154 BANKS AFFECTED IN STATE
68
79
""
MN
HN
HN
HN
HN
5HT5
62601
23128
16521
18022
19204
20189
30432
20379
38177
22698
68217
85267
50887
H265
l/11119
IZI
VL TCSH
652
1097
187
161
163
539
llO
288
317
422
104
935
585
514
591
131
1911
REQBAL
1579
1284
793
512
630
256
801
950
397
1081
803
1736
29U
1460
1286
141
ISi
N[W
N[W
EPA
RHBAL
H5
343
0
0
0
0
0
0
0
4
0
0
0
0
0
0
0
0
186
0
62
4H
1714
596
0
0
0
0
0
0
16)
Dlf
131-151
1579
1284
793
512
630
256
801
950
397
1081
803
1736
2914
1460
1286
•
•
••
•
•
••
••
••
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURfO RESERVE BALANCE
6280165
8280325
828DJq0
8280400
8280425
6280590
6280650
6280720
6280740
6280750
6280900
62d09l0
6280q6o
6280970
8291010
6281190
6281250
62~1270
d28l3a5
6281325
62~ll55
8281400
6281405
.
....
----------- .-------------
~
METROPOLITAN NATIONAL BANK BILOXI
FIRST NAT BK OF CL ARKSOALE CLARKSDALE
FIRST COLU~BUS NATIONAL BANKCCLUHBUS
MERCHANTS ANO FARMERS BANK COLUMBUS
NAT BK OF CMRC OF CORINTH
CORINTH
BANK CF FOREST
FOREST
FIRST NAT BK OF GREENVILLE GREENVILLE
GULF NATIONAL BANK
GULFPORT
cn'llENS BK Of HATTIESBURG HATTIESBURG
FIRST HI SSISSIPPI NAT BK
HATT I ES BURG
DEPOSIT GUAPANTY NAT BA~K
JACKSCN
FIRST NAT BANK OF JACKSON
JACKSON
COMMERCIAL N6 ANO.TRUST CO LAUREL
FIRST NATIONAL BK OF LAUREL LAUREL
FIRST NAT BK OF HOLMES CTY LEXINGTON
CITIZENS NAT BK OF ~ERIOIAN MERIDIAN
PASCAGOULA HOSS POINT BANK HOSS POINT
BRITTON ANO KOONTZ FIRST NB NATCHEZ
FIRST NATIONAL BANK
NEW ALBANY
FIRST tlATIONAL BK OF NEWTON NEWTON
FIRST NB OF JACKSON CTY
OCEAN SPRINGS
FIRST NAT BA'lK OF OXFORD
OXFORD
CITIZENS NATIONAL BANK
PASCAGOULA
0
HS
HS
HS
HS
HS
HS
HS
HS
HS
HS
HS
MS
HS
HS
HS
HS
HS
HS
MS
HS
HS
MS
HS
16614
34062
72200
41941
35343
22227
53142
48979
46983
259227
825483
724352
80659
66847
24844
78061
55599
34617
44868
16109
40382
27255
16028
332
763
1131
1333
545
300
ll48
1777
1675
6708
1064I
14701
1992
1323
386
2048
2504
914
967
276
1472
392
257
340
640
2806
899
1299
752
1363
683
784
9967
39382
30537
2138
1714
H5
1708
1233
929
1458
352
661
l0ll
410
0
0
872
0
217
0
241
0
0
5988
5670
6029
ll96
211
0
563
0
0
279
0
0
0
0
0
0
0
0
0
0
0
0
0
2813
28920
22630
0
0
0
0
0
0
0
0
0
0
0
340
640
2806
899
1299
752
1363
683
784
7154
10462
7907
2138
1714
745
1708
1233
929
1458
352
661
l0ll
410
•••
••
••
•
•
•
•
••
••
••
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY HODIFIED H.R. 7
~E~aER BANKS
Ill
NAHE
OSB
628145 5
8281480
8281718
8281800
6281840
6281870
6281880
828!S70
6232020
OF
TDEP
LOCATION
HS
HS
HS
HS
HS
HS
MS
MS
HS
FIRST NAT BANK OF PICAYUNE
PICAYUNE
PONTOTOC
FIRST NAT BANK OF PONTOTOC
NAT BK OF COMMERCE OF MS
STMKVILLE
TUPELO
FIRST CITIZENS NAT BANK
PEOPLES BK OF -~ISSISSIPPI NAUNION
VICKSBURG
FIRST NAT BK OF VICKSBURG
VICKSBURG
HEQCHANT S IIAT I ONAL BANK
WEST POINT
F !RST NAT BK OF ltEST POINT
YAZOO CI TY
DELTA NAT BK OF YAZOO CITY
32 BANKS AFFECTED IN STATE
16
13
102<l0950
a2q1oao
8291090
gzq 1095
8291116
829!3G5
8291395
B29l510
8291550
8291680
8291695
10291710
10291760
8291960
8291970
10292010
8292115
10292270
8292320
(21
VL TCSH
19836
644
24926
122814
B5029
95749
72883
66301
21320
H357
312
2570
1417
3057
2031
1114
351
809
I 31
1977
REQBAL
195
952
5180
3585
2191
1762
2369
549
1621
l'tl
NEW
EPA
I 51
NEW
REQBAL
0
0
3680
2502
1215
712
1496
0
305
0
0
0
0
0
0
0
0
0
(61
DIF
I 31-( 51
195
952
5180
3585
2191
1762
2369
549
1621
••
••
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
GQAVO!S BANK
AFFTON
AFFTDN
NA Tl ONAL BANK OF AFFTON
ALBANY
GENTRY COUNTY BANK
FIRST NAT SK OF BETHANY
BETHANY
BUTLER
FIRST NAT BK OF BUTLER
FIRST NAT BK OF LINN CREEK CAMDENTON
FIRST NB OF CAP'E GlRAROcAU CAPE GIRARDEAU
CARTHAGE
BAN~ OF CARTHAGE
uri l TEO MO BK OF CARTHAGE NA CAR l HAGE
CASSVILLE
FIR~T NAT BK OF GASSVILLE
CHI LL I COTHE
CITIZENS NATIONAL BANK
CLAYTON
FIRST NAT BK OF CLAYTON
eao,e CTY NB OF COLUMBIA
CCLU"BIA
CO*IERCE BANK OF COLUMBIA NACOLUMBI A
COLU.SBIA
FIRST NAT BANK£ TRUST CO
OGNI PHAN
FIRST NAT BK OF [JONIPHAN
ELDON
MERCANTILE BANK OF ELOC~
MER(ANTLE BK OF FAR"IINGTON FARMINGTON
COM~ERCE BANK OF FENTON NA FENTON
CALLAWAY BANK
fUL TON
FIRST NB OF CALLAWAY COUNTY fUL TO~
GALLATIN
FIRST NAT BK Of GALLATIN
GLADSTONE
FIRST NAT BK Of GLADSTONE
ttArrnlBAL
FAR'1EPS ANO MER.CHANTS BANK
HANNIBAL
HAN~lBAL NATIONAL BANK
CCM<ERCE BK OF HARRISONVL NAHARRISONVILLE
HIGH RIDGE
HIGH RIDGE MERCANTILE BK
INDEPENDENCE
FIRST NB OF INOEPENOENCE
JACKSON EXCHANGE BK t TR CO JACKSON
-------------------
----------
---------------------------------------82qQ025
B290028
l029C030
10290280
10290620
8290710
8290770
10290820
10290930
8290870
1/17/19
HO
HO
HO
HO
MO
HO
MO
MO
HO
HO
HO
HO
HO
HO
MO
HO
MO
MO
MO
HO
HO
HO
HO
MO
HO
HO
MO
MO
HO
100275
18847
31690
18369
17050
36045
52998
44667
34162
21839
59077
103291
96455
26043
48789
22615
22303
26768
2799B
34886
15713
21964
30511
1721B
29480
18503
18355
69329
21B47
935
245
125
146
177
21B
928
361
453
198
335
783
1168
664
680
194
268
743
411
402
213
94
552
261
463
193
477
576
23B
3547
511
1230
646
628
1405
1865
1745
1372
716
2137
55B5
3884
655
1817
B72
751
645
0
0
0
Bl
0
0
0
142
606
0
0
0
462
142
0
0
0
785
3634
2405
0
0
0
0
0
1943
0
0
473
0
0
0
0
0
0
0
0
913
1496
178
0
443
0
0
0
0
0
0
0
0
885
914
578
1016
633
368
2602
BH
0
0
0
0
0
1030
0
0
0
0
0
3547
511
1230
646
62B
1405
1865
1745
•
••
.•
•
1372
716
2137
55B5
3884
655
1817
872
751
645
913
1496
443
885
914
57B
1016
633
368
2602
SH
•
.••
•
•
•
•
•
•
•
.•
.-
t
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
~EMBER BANKS
BENEFIT TO BANKS COVERED BY HODIFIEO H.R. 7
Ill
DSB
NAHE
TOEP
LOCATION
121
VL TCSH
1/17179
131
HI
1911
NEIi
EPA
REQBAL
8292370
10292410
10292430
10292454
102q24s e
102924 70
10292480
l0292S·)O
10202525
10n2535
10292550
!0292500
10292508
10292650
102926b8
1029?690
8292725
6292760
8292770
5292773
8292838
8292639
!0292850
829293t;
8292940
a2<nqq5
102930}8
10293040
en3210
102933)0
8293420
82S3448
8293510
8293520
8293530
6293~bO
102S3670
10293080
1029 3090
1o~q301O
8293910
102S4160
f.12942J5
10294355
szq4457
8294460
EXCHNGE NB OF JEFFERSN CllY
Fl~ST NB & TR CO OF JOPLIN
UfllTEO MO BK OF JOPLIN NA
BOATMHJS BK & TR CO OF KC
BROADWAY NAT BANK
COLU"B IA UNION NAT BK & TR
COS"ERCE BK OF KS CITY NA
FIRST NS OF KANSA~ CITY
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OSB
1/17/79
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MEMBER BANKS
NAME
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Federal Reserve Bank of St. Louis
MEMBER BANKS
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DSS
1/17/79
BENEFIT TO SANKS COVERED BY MODIFIED H.R. 7
NAME
TDEP
LOCATION
121
VLTCSH
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-------------------10310020
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BEATRICE NAT BK t TR CO
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FIR ST NAT BK OF BELLEVUE
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FIRST NAT BK OF CHADRON
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FIRST NATIONAL BANK t TRUST FREMONT
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1536
1400
569
737
786
0
0
0
764
0
7<>4
2113
910
983
0
0
0
1892
430
0
2713
910
1892
•••
••
••
••
•
••
•••
•
••
•
••
•
••
•
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•
•
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Ill
DS8
NAME
10312650
10312710
103!2716
10312730
10312752
10312760
10312770
10312775
10Jl2900
10312830
10313220
10313250
1JH3285
M3l3320
I031 BbO
10313370
10313410
!OH 36)0
10313650
10313710
\Ojl378fJ
10313850
l03l3q-to
10313950
10.31 )QqQ
IOll•OlO
1J3I,i.o
OF
HC DONALD ST ATE BANK
FIRST NAT BANK IN OGALLALA
A•!ERICAN NATICINAL BANK
Fl~ST NB OF OMAHA
,mRTH1tESTERN NATIOIIAL BANK
OS AHA NATIONAL BANK
PACKERS NAT BK IN OMAHA
SECURITY NS CF OMAtlA
UNITED STATES NB Of OHAHA
FIRST NAT BK IN ORD
STK~~S NB OF RUSHVILLE
CTl NAT BK IN ST PAUL
FIRST NATIONAL BANK
SCOTTSBLUFF NAT BK & TR co
CATTLE NB Of SEWARD
JONES NB Of SEWARD
AM NAT eK Of SIDNEY
SECU~ITY NAT BK OF SUPERIOR
f IRST NAT BK OF SYRACUSE
FIRST NAT BK OF TEKA.UH
FIRST NAT BK Of VALENTINE
FIRST NAT BK Of 1,AHOO
FIRST NAT BK Of WAYNE
STATE NATIONAL BANK & TR CO
fAR~RS & MRCH NB Of W POINT
FIRST NAT BK Of WEST POINT
FIRST NAT BK OF YORK
NORTH PLATTE
CGALLALA
(!MAHA
OMAHA
OMAHA
OMAHA
o•AHA
OMAHA
OMAHA
CRD
RUSHVILLE
ST PAUL
SCHUYLER
SCOTTS8LUFF
SEWARD
SEWARD
SIDNEY
SUPERIOR
SYRACUSE
TEUMAH
VALENTINE
WAHOO
oAYNE
r,iAYNE
WEST POINT
WEST POINT
YORK
63 BANKS AFFECTED IN STATE
Of
VALLEY BANK OF NEVADA
FIRST NAT BANK Of NEVADA
NEVAOA NATIONAL BANK
SECURITY NB OF NEVADA
26
32
NE
NE
19269
NE
41265
NE
NE
NE
307612
22763
NE
97902
497558
4B203
263B4
286326
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
ME
14865
21186
52664
21691
31568
H078
15118
18335
19000
20849
19470
15092
25794
21612
23465
t,8826
NE
NE
16949
11140
121
VLTCSH
469
llO
653
2798
1145
4354
569
312
2208
94
202
56
110
454
218
113
181
57
84
NEW
EPA
LAS VEGAS
RENO
RENO
RENO
1
1
151
NEW
RE08U
HO
0
864
1648
13144
3781
24138
16"3
996
12661
16
0
0
312
5284
2609
5269
145
0
5017
0
5080
0
1391l
0
0
4814
0
0
0
0
549
581
507
778
2284
111
1198
1008
589
738
88
171
113
88
173
91
130
542
HI
131
1911
REQBAL
738
639
849
530
958
718
0
0
23
703
0
236
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
19
911
39
3
1505
268
161
DIF
131-151
510
86t,
161,8
8064
3781
10227
1643
996
7847
549
581
507
178
2284
111
1198
1008
589
738
738
639
849
530
958
718
917
1505
••
•
••
•
••
••
•
•
•
•
••
••
••
••
HAVE NO EARNINGS PARTlCIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
-------------------------
------------
4 BANKS AFFECTED IN STATE
------------
TDEP
LOCATION
------------------------12320048
12320070
12320075
12320080
1/17/19
BENEFIT TO BANKS COVERED BY MODI f IED H.R. 7
•E•BER 8A~KS
NV
NV
NV
NV
411031
967508
288599
221958
27530
34217
8896
1455
32601
7948
3555
8649
0
5221
0
14897
17704
4619
4956
0
1002
7948
76'7
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE ND REQURED RESERVE BALANCE
-----------------------
1455
....
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Ill
DSB
NAME
133oan
l 330070
1330010
IBOIIB
1330140
1330155
1330210
13)0220
133n5o
13303:JO
BR I STOL BANK
CLAREMONT NAT BK
INDIAN HEAD NB Of CLAPEHONT
FSM&TRO N&S BK OF COLEBROOK
C~NCORO NAT I ONAL BANK
1"0 I •N HEAD NB Cf CONCORD
CA';!:P.QLL C TY TR
l~Dl•N HEAD NS
STRAFFORD ~All
lNDlo\tl HEAD NB
BRISTOL
CLAREMONT
CLAREMONT
COLEBROOK
CONCORD
CONCORD
CO
CONWAY
OF DERRY
DERRY
BK
OOVER
OF EXETER
EXETER
& SAVINGS BK FARMINGTON
13303130 DARTMOUTH NB OF HANOVER
13 3'J420 ASHUELOT NATL BK OF KEENE
1330440 CHESHIR!: NJ\TtONAL BA~K
13"3045(}
INOlAN HEAD ~B OF KEENE
1330475
13304B I
13]0550
1310570
lj3O59O
INDIAN HEAD NB Of LACONIA
LACONIA PEOPLES NB & TR CO
NATL BK OF LEBANON
LAFAYETTE NATIONAL BANK
A."'IQSl(.EAG N4T BANK t TR CO
81\NK GF NEW HA~PHIRE NA
.'-!ERCHA~HS NB OF .'-tANCHCSTER
SOUHEGAN N~ OF MILFORD
INOIA".1 HEAD NB OF NA'iHUA
WHT SOUNTAIN NB OF N CONWAY
F lRST tlB OF PORTS~OUTH
1.BO!J70
1330700
13)071 l
13 30N :!
1330800
1330810 INDIAN HEAD NB OF PRTS~TH
1330910 FIRST fJI} OF ROCHESHR
1331050 WOLFEBORO NATIONAL BANK
OF
TDEP
LOCATION
133,'.}3[0 FAR"INGTON NAT
13JB75 HA"1PTQ~~ NATIOt:AL BAN,(,
13)0622
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
Nil
NH
NH
NH
HAMPTON
HANOVER
KEENE
Kt:ENE
KEENE
LACONIA
LACONIA
LEBANON
LITTLETON
MANCHESTER
Ntt
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
MANCHESTER
MANCHESTER
HILFORO
NASHUA
NORTH CONWAY
PORTSMOUTH
PORTSMOUTH
ROCHESTER
WOLFEBORO
30 BANKS AFFECTED IN STATE
22
8
FIRST NAT BANK Of ABSECCN
HUNTERDON COUNTY TRUST CO
ATCO NATIONAL BANK
ATLA,,TJC NATIONAL BANK
BROADWAY NB Of BAYONNE
PEOPLES BANK NA
FIRST N~ OF BELVIDERE
FIRST NATL BK OF BLAIRSTOWN
15325
25718
15537
13481
57528
18387
30833
31399
20292
48881
16513
28215
35319
25759
31041
27243
17403
33611
31783
2971B
59884
171853
74072
25961
125958
21250
52771
31274
16046
21866
121
VL TCSH
168
5H
HI
155
1733
504
431
404
653
600
206
606
374
654
899
552
535
1328
783
B43
4918
6306
169B
598
186 I
471
1536
1064
1264
257
131
1971
REQBAL
390
5H
140
300
1998
278
674
796
889
1506
463
721
1199
604
735
847
IBO
448
676
501
0
3566
2304
480
4101
324
956
292
0
484
l~I
NEW
EPA
151
NEW
REQBAL
0
0
0
0
853
0
0
0
0
0
0
0
0
0
30
0
668
0
0
868
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2953
1218
0
3600
0
150
0
0
0
0
0
0
0
0
0
0
0
0
0
161
Dlf
131-151
390
514
140
300
1998
278
674
796
889
1506
463
721
1199
604
735
847
180
448
676
501
0
3566
2304
480
4101
324
956
292
0
484
•
•
••
•
•
••
••
••
•••
•••
•
••
.•
••
•
.
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
------------------------------------------------------------3340010
2340045
3340080
3340092
2340150
2 JltlJl 30
2340200
21.;.0250
1/17/79
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
MEMSEP BANKS
ABSECON
ANNANDALE
ATC □
ATLANTIC CITY
BAYONNE
BELLEVILLE
BEL VI OE RE
BLAIRSTOWN
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
-----------------------------------------------29274
299B8
23029
69217
262 86
60132
26466
17504
568
625
546
1058
458
990
308
274
718
636
609
2467
948
lB53
741
426
0
0
0
908
0
09
62
0
0
0
0
0
0
0
0
0
718
636
609
2467
948
1853
741
426
•
•
••
•
•
.
.
.....
•cc
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY HOOIFIEO H.R. 1·
MEMBER BANKS
OSB
NA~E
111
TOEP
LOClTION
BLOOMSBURY
2340300 CITIZENS BANK NA
3)40365 BANK OF MIO-JERSEY
BORDENTOWN TWP
2340400 NATIONAL BANK OF SUSSEX CTY BRANCHVILLE
BRIO GE TON
3340430 F (. M NAT BK Of BRIDGETON
3340431 UNITED JRSY BK/CUMBRLANO NATBRIOGETON
2340434 FIRST NAT BK OF CTRL JERSEY BR IOGEWA TER TWP
3340460 FIRST NAT ST BK OF W JERSEY BURLINGTON HP
CAMDEN
334051 a ~A~~ OF NEW JERSEY
3340530 U~TD JERSEY BK/SOUTHWEST NA CAMDEN
33,,0593 HERITAGE BANK NA
CHERRY HILL TWP
3340595 FRIE~DLY NAT BANK OF NJ
CIN~AHINSON TWP
234063(} NEW JERSEY BANK NA
CLIFTON
COLON IA
2340105 FIR ST BANK OF COLONIA
CRANBURY
2340710 MIOLANTIC NB/CRANBURY
31',0723 BANK OF WEST JERSEY
DELRAN TCWNSHIP
DENV ltLE T..,P
2l40127 PEOPLES NB OF NORTH JERSEY
2340730 UNITED JERSEY BANK/NORTHWESTOOVER
3340825 FIRST NB t TR CO OF BEVERLY EDGEWATER PK ThP
ED I SON TWP
2340837 MIOLANTIC "18 RARITAN VLY
EGG HARBOR TWP
33408't2 FIRST NAT BANK OF S JERSEY
234091)0 NAT STATE BK !:LIZABETH NJ
ELIZABETH
ELIZABETH
2340921 UNITED COUNTIES TRUST CO
ELI ZA~ETH
2340CJ2 2 U~ITEO JERSEY BK/CENTRAL
HMER
3340940 FIRST NAT BK OF ELMER
2~40954 ED~EWTR NB ECLWO CLFS NJ
ENGLEWOOD CLIFFS
EWING TOWNSHIP
3340975 HIDEPEN:JENT BANK t TS co
23410JO FLE"IINGTON NAT BK t TR CO
f-LEMINGTCN
FORT LEE
2341040 FIRST NB IN FORT LEE
FRANKLIN LAKES
23410~1 URSA~ NATIONAL BANK
GLADSTONE
2341130 PEAPACK GLADSTONE BANK
HACKE"lSACK
2341220 UNITED JERSEY BANK
3)41250 MIOLANTIC NATIO~AL BK/SOUTH HAO;)ONF I ELD
HA~ILTON TWP
3341285 HA~ILTCN BANK NAT ASSN
234132 5 UNTO JERSEY BK/MIOSTATE NA HAZLET TWP
2341355 HILLSBOROUGlt NATIONAL BANK HILLSBOROUGH TWP
2141368 llBERT't' NATlmlAL BANK.
HILLSDALE
2341-4?.0 F lkST NATIONAL BANK OF HOPE HOPE
23415)0 CCS"ERICAL TR CO OF NJ
JERSEY CITY
JERSEY C ITV
2 341530 FIRST JERSEY NATL BANK
23415~0 TRUST CO OF NEw JERSEY
JERSEY CITY
2341600 FI RS T NO G 1q CO Of KEARNEY KEAR"IEY
3341650 PfOPLE S MAT BK IN LAKEWOOD LAKEWCOO
3341665 UTO JERSEY BK/OCEAN CTY NA LAKEWOOD TWP
LIVINGSTCN
2341720 LIV I NG STO.S NA Tl ONAL BANK
2"1;41810 MANVILLE NATL BANK
MANY ILLE
2341820 ,SAPLEWOOD BANK AND TRUST CO MAPLEWOCO
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
-NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
39685
86787
44725
60741
97054
264360
189340
510688
88206
519528
26167
749433
50035
52386
41989
38479
109913
29050
57677
50246 7
637500
399026
84931
20038
39270
33878
71114
54116
45381
30490
1076016
224920
24048
83641
22732
13603
22720
267486
578844
391970
86358
33836
19439
41798
39579
8530 I
121
VL TCSH
942
1477
791
1843
1065
2879
5641
15488
1430
15295
684
15377
748
510
589
717
2628
1149
986
19769
51177
5646
1749
279
614
465
130
705
739
257
20729
2778
615
2154
427
IH
l63
6454
11382
10403
3182
507
330
871
580
1587
1/17/79
131
1977
REQBAL
141
NEW
EPA
875
2897
1110
14 79
5113
10228
3897
14647
23
1933
19B
293
2966
5023
2099
5188
2077
5290
~320
15484
401
27727
1139
2134
1314
917
2578
144
2231
9032
o
17061
3405
694
1174
855
2214
1534
1508
1124
41461
8520
319
1703
385
396
705
8594
24797
11023
1280
1102
557
1385
963
2737
o
5397
59
801
130
0
1281
0
879
4969
0
5215
1902
0
32
0
1258
155
204
194
5375
5193
0
509
0
0
80
5102
5060
5307
0
0
0
43
220
1261
151
NEW
HOBAL
0
0
0
0
0
2852
0
5018
0
5979
0
17547
0
0
0
0
0
0
0
0
0
8599
0
0
0
0
0
0
0
0
28956
1581
0
0
0
0
0
803
12689
3141
0
0
0
0
0
0
161
OIF
131-151
875
2897
1110
1479
5113
1376
3897
9629
3320
9505
401
10180
1139
2134
1314
917
2578
144
2231
9032
•
•
•
•
••
•
•
•
o
8462
3405
694
1174
855
2214
1534
1508
1124
12505
6939
319
1703
385
396
705
7791
12108
7882
1280
1102
557
1385
963
2737
•
.
•
•
•
•
•
•
•
••
•
....
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
OSB
2341865
3341970
23'.d956
z341qe,a
3341998
2342076
2342005
2342140
2342145
2342200
2342?25
3342310
2342318
2142350
234242 5
234241::13
2342528
2342529
3342670
3342695
2342700
2342720
2342144
2342747
2342~12
3342830
3342A60
2]42930
1/17179
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
ME~B ER BANKS
NAME
LOCATION
CMMNTY BK OF BERGEN CTY NJ
MAYWOOD
MEDFORD
BURL! NG TON CTY NAT BANK
HER IT AGE BANK-NORTH NAT ASSNMONROE TWP
ASERICAN NAT BK i. TR OF NJ
MCNTCLAIR
BA.,IK OF NE;.i JERSEY NA
MOORESTGWN
FIRST MERCHANTS NAT BANK
NEPTUNE TWP
8PDAD NATIONAL BANK NEWARK NfWARK
FtDELliY UNICN TRUST COMPANYNEWARK
FIRST NAT STATE BANI< OF N J NEWARK
NEWARK
"IIOLANTIC NATIDrUL BANK
SECURITY NATIONAL BANK OF NJNEWARK
FIRST NAT BK IN NEWFIELD
NEWF IELO
MIOLANTIC NB/SUSSEX & MRCH NEWTON
HEADOilLANOS NATimlAL BANK
NORTH BERGEN
A"'IBOY-/•UDISCN Ni\T BANK
OLD BR I OGE TWP
PARA .'lUS
GARD(N STATE NATIONAL BANK
JEFFERSON NATIONAL BANK
PASS A IC
VALLEY NATIONAL BANK
PASSAIC
PENNS GROVE NAT BK & TR CO
PENNS GROVE
PErlNSVILLE NATIONAL BANK
PENNSVILLE TWP
PERTH AMBOY NATIONAL BANK
PERTH AMBOY
PHILLIPSBURG NAT BK & TR CO PHILLIPSBURG
PEOPLES NB OF CENTRAL JER SEYPI SC ATA WAY
PISCATAWAY
NATL BANK Of NEW JERSEY
UNITED NATIONAL BANK
PLAINFIELD
OCEAN CTY NB OF PT PLHSANT POINT PLEASANT
FIRST NB Of PRINCETON
PR I tlCETON
STATE BANK OF RARJTA!\I VALLEYRAR ITAN
2~42<U5 HNJqDN CTV Ng Of FLEMINGTON RARITAN T~P
2342945 CCL!;NIAL FIRST NB
RED BANK
2342930 CITIZE~S FIRST NB OF NJ
RI OGE WOOD
RUTH( RF ORO
2343070 NAT CO~~UNlTY BANK Of NJ
3343090 CITY NATL BANI( ANO TRUST ca SALE•
SB,ELL
3343131 NAT I O~AL BAtJK OF MA~lTUA
2-i43l8G FIRST NAl STATE BK-EDISON
S PLAINFIELD
23:t3265 FIOST NAT STATE BK OF NW JERSUCCASUNNA
33 1+33'.)'J Sl>fEiJESBORO TRUST C0·'1PANY
SWEDESBORO
234330<} FIRST NAT STATE BK-COlJ:'HY
TENAFLY
2343315 MIDLANTIC NAT BK/CITIZENS
TENAFLY
33433)0 FIRST N8 OF TOMS RIVER
TOMS RI VER
2343334 f lRST NAf BANK Of NEW JERSEYtOTOWA
3343340 e~ □ AO STREET NB OF TREiHON TRENTON
33433,5 IS T NAT ST BK OF CTRL JRSY
TRENlON
33•.-::\350 NEW JERSEY NATIONAL BANK
TRENTON
2343420 u·no.•~ CENTER NATL eM~K
UNION
3343497 Cl T IZENS UNITED BANK NA
VINELAND
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
tlJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
111
TDEP
121
VLTCSH
41417
42533
374104
433044
84556
265795
59076
718970
1113061
958327
27516
26235
69510
30565
83601
643932
22698
3331BO
31610
14160
44161
63708
86115
211 l 70
169383
125 805
153 713
35017
137834
428972
405674
76902 a
37 27 2
42468
197125
115072
19106
218861
317246
340497
b09lb9
B3119
81173
B64334
65328
105943
1076
870
10251
7662
1804
6286
1022
14717
28257
16104
692
331
918
946
2078
10653
386
4759
606
291
833
1038
2052
4147
3333
2442
920
628
1504
9083
7 259
14231
1162
1140
4 792
1909
236
4410
4536
9B85
13792
1571
1088
12691
2907
I5Bl
131
1977
REQBAL
743
1364
11807
19604
2313
7325
2433
40290
39746
48304
765
891
2294
495
1B38
24457
446
12969
874
266
1754
1615
2912
8980
6078
3919
6935
885
<828
14251
12798
26659
829
678
6401
3556
605
6961
12781
70B8
17241
2914
2581
31745
HI
NEW
EPA
0
97
5135
5169
997
5204
1202
5379
5438
5320
0
0
1242
0
1033
5049
0
5366
0
0
455
577
1414
5041
3927
2083
4395
0
2875
5241
5113
5226
0
0
3801
2262
0
151
NEW
REQBAL
161
DIF
131-151
0
0
2995
9841
0
88
0
24007
24976
31890
0
0
0
0
743
1364
8812
9963
2313
7237
2433
16283
14770
a
14008
0
446
7207
874
266
1754
1615
2912
7820
6078
3919
5950
885
3748
8142
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9582
829
6 78
6401
3556
605
6743
7082
7088
9135
2914
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0
1080
6109
5307
17077
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0
0
0
218
5699
5107
8106
14 76
978
5111
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0
0
616
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2341
765
891
2294
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TD BANKS COVERED BY MODIFIED H.R. 1
~EMBER BANKS
lll
DSB
NAME
LOCATION
TDEP
3H3502 HI NOT OLA NATIONAL BANK
VI NE LAND
33 1t35l2 GL END ALE N4T BANK OF NJ
VOORHEES TCWNSHIP
2H~534 PROSPECT PARK NATIONAL BANK WAYNE
3343569 FIRST PEOPLES NAT BK Of NJ wEsrno,n
334 3620 MARINE NB OF WILDWOOD
WILDWOOD
3343610 umo,, TRUST co OF lilLDWOOD WILD~OOD
2343668 ~ID-JERSEY NATIONAL BANK
WOODBRIDGE TWP
3343SQO NB t TR CO OF GLOUCESTER CTYWOOCBURY
2343110 WOOD RIDGE NATL BANK
WOOD RIDGE
WOODSTOWN
3343130 WOODSTCWN NAT BK t TR CO
3H3750 YARDVILLE NATL BK
YAROVILLE
OF
111 BANKS AFFECTED IN STATE
35
46
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
27880
216B3
22680B
68075
80637
41921
29990
1~2986
40613
21123
72363
121
VL TCSH
627
22't
1850
13525
1487
900
513
3327
572
226
2007
l/17179
131
141
1917
NEW
REOBAL
EPA
Bl't
562
9053
16869
2361
1190
838
H50
1270
119
788
151
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0
16
0
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48H
1"16
5074
1211
0
8954
0
0
0
0
0
0
0
0
2269
0
0
0
161
DIF
131-151
81"
562
7637
7915
2367
1190
838
41t50
1270
119
788
••
••
••
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REOUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
----------------------------------11350005
1035002 0
10350023
10350029
10 350J3 0
1035J036
11350050
1C35C010
113sooao
11350090
10350105
11350120
ll ·1 11HH2 3
11350128
11350130
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10350143
10350147
10350150
11350195
11350220
10350235
I03502H
11350205
11350290
113503JO
10350310
FIRST NAT BK IN ALAHOGDRDO
AL BUOUERQUE NATl0NAL BANK
AMERICAN BANK OF COMMERCE
f I Del ITV NATIONAL BANK
FIRST NAT BK OF ALBUQUERQUE
SOUH!WE ST NATIONAL BANK
FIRST NAT BANK OF ARTESIA
FIRST NAT BK OF BEUN
ASERICAN BANK OF CARLSBAD
CARLSBAD NATIONAL BA~K
FIRST NH BK III CLAYTON
CLOY IS NATIONAL BANK
FIRST NAT BANK OF CLOVIS
JEHING NATIONAL BANK
HIMBqES VALLEY SANK
FIRST NAT BA~K RIO ARRIBA
VALLEY NATIONAL BANK
FARMINGTON NATIONAL BANK
flqST NAT BK OF FARMINGTON
FIRST NB Of LEA CTY
FIRST Na Cf DONA ANA CTV
FIRST NAT BK IN LAS VEGAS
LOS ALAMOS NATIONAL BANK
LIBERTY NATIONAL BANK
FIRST NAT BANK OF PORTALES
PORTALES NATIONAL BANK
FIRST NAT BK IN RATON
ALAMOGORDO
ALBUQUERQUE
ALBU QUE RCUE
ALBUQUERQUE
AL BUCUERCUE
ALBUQUERQUE
ARTESIA
BELEN
CARLSBAD
CARLSBAD
CLAYTON
CLOVIS
CLOY IS
DEMING
DE HING
ESPANOLA
ESPANOLA
FARMINGTON
fARMINGTON
HOBBS
LAS CRUCES
LAS VEGAS
LOS ALAMOS
LCVINGTON
PCRTALES
PORTALES
RATON
NM
NM
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NM
NH
NH
31t895
573378
102244
36587
345516
25853
48593
45473
38176
49944
15228
60434
19921
20877
28645
27516
18033
30585
68860
122305
108464
17040
19976
40035
22675
22169
32003
402
10568
IOU
670
4984
671
309
81t2
331
591
96
1008
268
348
322
840
390
1199
1114
806
2458
346
405
812
185
294
439
1373
22202
3237
953
14471
200
4990
1732
0
648
0
712
0
126
424
0
·257
0
0
0
0
0
0
1724
2230
1431
0
0
0
0
0
0
2041t
1226
llt65
1683
446
1920
692
lt69
915
526
382
295
3229
4544
3199
416
692
ltl8
901
870
941
481t0
0
11097
0
0
5177
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1373
11105
3237
953
9294
61t8
20lt4
1226
1"65
1683
ltlt6
1920
692
469
915
526
382
295
3229
4544
3199
416
692
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870
941
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Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
ME"BER BANKS
DSB
NAHE
LOCATION
INTERNATIONAL STATE BANK
FIRST NAT BANK OF ROSWELL
SECUP.ITY NB OF ROSEWELL
FIRST NU BK OF SANTA FE
SA'II A FE NATIONAL BANK
A.seq ICAN NB OF SILVER CITY
GRANT COUNTY BANK
103~0360 FIRST STATE BK OF TAOS
11150383 HOT SPRINGS NATIONAL BANK
I 1350390 FIRST NAT BANK IN TUCU>ICARI
10350320
11350330
113~C336
10350340
10350~45
11350360
II 350362
OF
2360020
2360065
2360130
236l\50
2360155
2360170
2360310
23SOHO
236,450
216.0540
23'05 30
2~60~40
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23'>0840
2361266
23'12'7
2361290
23bl3JO
23'1310
2361360
2301395
2361410
21~1460
2161480
2361500
2361600
2301676
2361 no
RATON
NH
ROSl<ELL
ROSWELL
SANTA FE
SANTA FE
SILVER CITY
SILVER CITY
TAOS
TRUTH OR CONSEQUE
TUcu•CARI
NM
NM
NM
NM
NM
NM
NH
NH
N>I
37 BANKS AFFECTED lfl STATE
21
14
111
TDEP
121
YLTCSH
28397
76442
69536
101215
64011
21138
25602
20982
20058
29553
335
662
614
2113
967
466
173
602
247
224
131
1917
REQBAL
808
3023
2576
3412
2233
940
451
466
631
1273
UI
NEW
EPA
I 5J
NEW
REQBAL
0
1392
1121
1881
982
0
0
0
0
6
161
DIF
131-151
0
0
0
0
0
0
0
0
0
0
808
3023
2576
3412
2233
940
HI
406
631
1273
0
637
6055
13264
13491
1806
519
340
2S33
1958
•
•
•
•
•
••
••
HAYE NO EARNINGS PARHCIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
COMMUNITY NATIONAL BANK
ADDI SON
SA~KERS TR CO Of ALBANY NA AUANY
>IAT CCMSERICAL BK & TR CO
ALBANY
STATE BANK OF ALBANY
ALBANY
U~ION NATIONAL BANK
ALBANY
AL om s TATE BANK
ALDEN
EVANS NB OF ANGOLA
ANGOLA
CITIZENS CENTRAL B~NK
ARCADE
NATIONAL BK OF AUBURN
AUBURN
DALLST0'-4 SPA NATIONAL BANK
BALlSTON SPA
BATH NATIONAL BANK
OATH
FISHKILL NATIONAL BANK
8[ACON
!ST-CITY NS Of BIP-.IG,HAMTON NY81NGHAHTON
BqlOr,EH>MPTON tlATIUNAL BANK B•IOGEHAHPTON
CHE ,11 CAL BANK-BUFF ALO
BUFFALO
CITIBA\<INY STATEINAT ASSN BUFFALO
LIBERTY NB t TR CO
BUFF lLO
MANFCIURERS t TRORS TR
BUFFALO
HA rt I '-.IE •tOLANO BANK
BUFFALO
U~ITEO NATIONAL BANK
ClLL ICOON
CENTRAL NB CANAJOHARIE
CANAJUHAR IE
CA,~>~OA I GU> NB ANO TR CO
CANA~OA IGUA
FIRST STATE BANK
CANISTEO
ST LAWRENCE NATIONAL BANK
CANTON
PUTN>M COUNTY NS OF CARMEL CAR~EL
PENINSULA NATIONAL BANK
CEDARHURST
CHESTER NATIONAL 8MIK
CHESTER
HAYES NATIONAL BANK
CLINTON
co
1/11/19
NY
NY
NY
NY
NY
NY
NY
NV
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NV
NY
NY
NY
NY
NY
24929
236937
780765
737479
96004
22747
20618
82824
69629
3I6SO
34740
52323
256623
27510
21141
478100
501934
1268892
6617142
29681
91528
72454
14272
113078
27847
102775
51810
25806
369
7500
18097
9418
3106
310
513
889
1435
645
481
1141
8053
513
410
3716
15379
37552
137670
372
2038
910
204
2356
484
2014
1437
706
637
6055
30730
38682
1806
519
340
2S33
1958
738
1076
1853
6036
874
903
22895
12904
34120
310890
868
1912
2339
385
3618
950
3278
1034
338
0
3824
5149
5420
734
0
0
1655
614
0
0
542
~790
0
0
4615
5372
5309
5551
0
540
1299
0
2345
0
0
17466
25191
0
0
0
0
0
0
0
0
0
0
0
10659
4367
20598
208436
0
0
0
0
0
1879
0
0
0
0
0
0
738
1076
1853
6036
874
903
12236
8537
13522
102454
868
1912
2339
385
3618
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338
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEM~ER BA'4KS
BENEFIT TO BANKS COVERED BY HDDIFIEO H.R. 7
11 I
Dsa
NAME
TDEP
LOCATION
2361910 FIRST NB OF CORTLAND
CORTLAND
236 l<;l?Q NATIONAL BK OF COXSACKIE
COXSACKIE
2362')90 OELAH'ARE NB OF DELHI
DELHI
O~YOEN
23b2130 Fl~ST NB OF ORY OEN
EAST HAMPTON
230222 5 FI RS T NS OF EAST. HAePTON
2362250 FIRST ~AT BK OF EAST ISLIP
EAST ISLIP
23l,~-H5 ELLE~YILLE NATJO~AL BANK
Ell ENVILLE
2'1624rJJ Ct•E~UNG CA~AL TRUST CO~PANY ELMIRA
2162460 E•~DICOTT TRUST CO"!PANV
E•JICOTT
2362570 OF .\K ~IATIO'JAL BAf-41(
FLEISCHMANNS
GAF-DEN CITY
l3b2305 LONG ISLANO TRUST C.OMPA~Y
GENESEO
236?8t0 GE~~SEE VLV NS OF GENESEO
2l~2~30 NATIONAL BK OF GENEVA
GENEVA
23621370 F(?ST rJAT SK Of GL(N HEAD
GLEN HEAD
GLENS FALLS
2362130 FIRST NB OF GLENS FALLS
GLENS FALLS
2362890 GLENS FALLS NB t TR CO
2 l~ZSIJO CITY NBtTR CO Of GLVRSVLE
GLOVERSVILLE
23629l0 FULT □ r1 COU"ITY NAT BK t TR COGLOVERSVILLE
2~...,3')40 f Ir'. ST rm HJ GREENE
GRE::f::NE
HANCOCK
2 °'o3 l !30 FIR ST ND Of HANCOCK
HEMPSTEAD
2363230 HflJ!PSJf.:AO BANK
2363235 VA~Gt.JARD NATIONAL BANK
HEMPSTEAD
230290 LO"lG I SL ANO BAf..lK
HICKSVILLE
HlGHLANO
7.363300 FIRST N3 OF HIGHLAND
2363360 H0"1!:R NATIONAL BANK
HO"'ER
23'>3540 FtPST NB & TR CO Of ITHACA
ITHACA
l THACA
2363560 TC"PK!NS COUNTY TRUST CO
216Jsqo BA~lKERS TRUST CO OF WSTRN NYJA•ESTOWN
JAMESTOWN
236360 I FIRST NAT !3K OF JAMESTOWN
2 363630 Fl~ST NB OF JEFFERSONVILLE
JEFFERSONVILLE
23636130 KEESEVILLE NATIONAL BANK
KEESEVILLE
2)63740 KINGSTON TRUST COMPA"IY
KINGSTON
2363760 RONDOUT NATIONAL 6tNK
KINGSTON
2v,;a20 JfFFERSON N.ATIONAL BANK
LAFARGEV ILLE
l lBERTY
2363910 SULLIVAN CTY NB GF LIBERTY
LITTLE FALLS
2303960 LITTLE FALLS NATIONAL BANK
2364130 LYON.5 PMTIONAL 8ANK
LYONS
MAHOPAC
2364160 MAHOPAC NATIONAL 9A~K
2364170 CITIZENS N3 OF MALONE
MALONE
2.lb4ld0 FAq"1ERS NS OF MALONE
MALONE
2.164375 E"1PIRE NATIONAL BANK
~IOOLETOWN
2364400 OPA~lGE CCUNTV TRUST COMPANY MIODLETCWN
23f.45l0 NAT UNION 6K CF MDrHICELLO MOST !CELLO
2364550 FIRST NB OF ~ORAVIA
MORAVIA
!~l,46°1"0 NA~UET NATIONAL BANK
NANUET
2364690 COLU~BUS TRUST COMPANY
NEW9URGH
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
59653
l6870
20357
24149
31257
53369
39110
110479
116995
18384
631993
23311
41698
63690
169432
145400
46628
42279
22165
14234
191240
20046
132060
9bb03
19867
72227
112931
167523
137545
26771
31837
82818
40794
18136
74560
14978
17703
23434
21723
72223
~36798
38710
21093
26630
94699
34295
121
VLTCSH
1111
588
138
280
876
860
731
3864
2427
315
14386
340
1197
1107
4810
2519
691
1003
537
191
4578
224
2103
820
256
845
1910
4216
3072
243
637
2039
960
426
1276
376
217
447
366
l991
7970
1395
657
219
2224
1027
l/17/19
131
JH7
"'
NEW
REQBAL
EPA
1611
128
766
643
704
1579
974
2103
3461
474
26837
708
668
2524
2522
H55
1328
755
339
399
10198
715
5961
3467
536
2749
3875
4076
3290
760
939
2713
1137
211
2700
187
577
578
667
1257
15219
796
481
780
2701
532
342
D
73
133
0
313
0
542
2421
0
57H
0
0
1010
1431
3208
218
0
0
0
5473
0
4590
2229
0
1463
2508
2884
2336
62
0
1352
0
0
1636
0
0
0
0
288
5127
0
0
87
1058
0
151
t1EM
RE~BAL
0
0
0
0
0
D
0
0
0
0
16903
0
0
0
0
0
0
0
0
0
l666
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6792
0
0
0
0
0
161
OIF
131-151
1611
128
7b6
643
704
1579
974
2103
3461
474
9934
708
668
2524
2522
4355
1328
755
339
399
8532
715
5961
3467
536
2749
3875
4076
3290
760
939
2713
1137
211
2700
187
577
578
66 7
1257
8427
796
481
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2701
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1/17/79
BENEFIT lO BANKS COVERED BY HOOIFIEO H.R. 1
MEMBER BANKS
NAME
TOEP
LOCATION
121
VL lCSH
131
1971
REQBAL
~
141
NEW
EPA
151
NEW
REQBAL
161
Olf
131-151
0
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~
:=
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2364700 HI GHLANO NB OF NEWBURGH
2364840 BANKERS TRUST COMPANY
2364880 SANK OF NEW YORK
2364898 BARCLAYS BANK OF NEW YORK
2364915 BRADFORD TRUST COMPANY
23~4q1')2 CE~TURY NAT BANK & TRUST co
23649~5 CHASE MANHATTAN BANK N A
2364q95
21~49'10
2365035
236SlJ4
2'65158
23ti5lb5
2365240
2~65290
2365310
2365)28
2'365:h 1
2365415
23654]5
2365460
23t-5'5')5
l3&55}0
2365670
2165780
2365820
2365840
2365"150
2366020
2366370
2366315
2366470
23bb5qo
2~66610
2366625
2366640
2366680
2366980
2366910
2 366960
2366970
2366Q9Q
2367020
2361070
2367120
2367150
NEWBURGH
NEW YORK
NEW YORK
NEW VORK
NEW YORK
NEW YORK
NEW YORK
CHE'-UCAL BANK
NEW YORK
CITIBANK NA
NEW YORK
co~~UNITY ~8 & TR co OF NY NEW YORK
TRUNEW YORK
EUROPEAN-A~ERICAN BANK
FLUSHING NATIONAL BANK
NEW YORK
fQEEDOM NB OF NEW YORK
NEW YORK
l'tVING TRUST CO'1PAN'f'
NEW YORK
'1ANUFACTUPERS HANOVER TR CO NEW YORK
NEW YORK
~ERCHANTS SANK OF NEW YORK
MORGAN GUARANTY TR CO OF NV NEW YORK
NAT 3K OF NORTH AMERICA
NES YORK
REPUBLIC NATIONAL BK OF NY
NE• YORK
SCHRODER TRUST CO
NEW YORK
STERLII\(; Ng t TR CO OF NY
NEW YORK
NEW YORK
UNlO~ CHELSEA NAT BANK
UNITED STATES TR CO Of NY
NEW YORK
r,A T BK & TR CO OF NORWICH
NORW !CH
OLEAN
MNF HANOVER TR CO/WSTN NA
ONEIDA VALLEY N3 Of ONEIDA ONE! DA
ONEOtH A
WILBER NATIONAL BANK
~~IF HANOVE~ TC/CENTRAL NY
ONTARIO
PATCHOGUE
ISLA~D STATE BANK
POUGHKEEPSIE
BANKERS T C OF HDSN VLY NA
POUGHKEEPSIE
DUTCHESS BANK ANO TRUST CO
FIRST NB OF RED HOOK
RED HOOK
SUFFOLK CTY NB OF RIVERHEAD RIVERHEAO
CENTRAL TR CO ROCHESTER NY RCCHESTER
FIRST NB OF ROCHESTER
ROCHESTER
Ll~CLN FIRST BK Of ROCHESTERROCHESTER
ROCHESTER
SEC TR CO OF ROCHESTER
5ALA.MANCA TRUST COMPANY
S~LAMMKA
ADIRONDACK TRUST COMPANY
SARATOGA SPRINGS
OVSTERMENS BANK ANO TRUST COS~YVILLE
SCARSDALE
SCARSDALE NB t TR CO
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139 BANKS AFFECTED IN STATE
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----------------------
---------------
FIRST NB Of ALBEMARLE
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Federal Reserve Bank of St. Louis
HEHBER BAff~S
Ill
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NAME
5372230 WACHOVIA M
OF
J/17/79
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
TDEP
LOCATION
& TR CO NA
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HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
-------------9380100
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HAVE NO REQUREO RESERVE BALANCE
-------------------
0
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BA~KS
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
I II
DS3
NAME
ADA
431l0025 LIBERTY NB OF ADA
,.3~0033 AKRON NATIONAL BANK
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4390060 FIRST N,\TIONAL BANK OF AKRONAKRON
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4390610 FIRST NB OF CLERMONT CTY
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439ll50 CTZS NB OF CHILLICOTHE
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Federal Reserve Bank of St. Louis
111
oss
1/17/79
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
MEMBER BANK.S
NAME
TOEP
LOCATION
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SOUTHERN OHIO BANK
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Federal Reserve Bank of St. Louis
HE•BER BANKS
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
111
DSS
NAHE
4392310 LORAMIE BANK ING co
4392340 co,"ER ICAL BK t SVGS co
4392351 TRI-CCUNTY NAT BANK
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4393530
4393610
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CROGHAN COLON I AL BANK
FREMONT
LI eERTY NB OF FREMONT
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GALI ON
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GALLIPOLIS
GENOA BANKING CO
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HO.~E BANKING CO
GIBSONBURG
PEOPLES N3 OF GREENFIELD
GREENFIELD
GREENVILLE· NATIONAL BANK
GREENVILLE
SECOND NB OF GREENVILLE
GREENVILLE
FIRST NS t TR CO OF HA~ILTONHASILTON
SECOND NB OF HAMILTON
HAMILTON
FIRST NS OF HARRISON
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FR SRS t TROR S NS OF HLSBRO HILLSBORO
HILLSBORO BANK t SVGS CO
HI LL SBORO
MERCHANTS NB OF HILLSBORO
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191
224
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549
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Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODI F !ED H.R. l
HE~BER BANKS
111
DSB
NAME
4393660 CITIZENS NB OF MARIETTA
43S3720 NATIONAL CITY BK OF MARION
4~93 750 FIRST NB OF MARYSVILLE
4393760 'FIRST MASON BANK
4393770 FIRST NB IN MASSILLON
4393830 OLD PHOENIX NB OF MEDINA
43Q3870 FIRST NATIONAL BANK
it393q40 CLE't~ONT NATIONAL BANK
4393960 ADA._.S BANK
4393970 CG."'11.\ERCIAL AND SAVINGS BANK
43'B9S5 CONSU:-1ERS NATIONAL BANK
4393990 Ml"lERVA. BANKING COMPANY
4394020 MINSTER STATE BANK
43'"10'1"0 FIRST NB OF MIOOLETO'l'iN
4394070 ~,a OF MONTPELIER
4394090 elRST NB OF WARRE_N CTY
4VJ4 no PEOPLES BANK
4394140 BROWN CTY Nf\ Of MT ORAB
43q4160 STERLING STATE BANK
4394170 IS T-KNOX NB Ill HT VERNON
43q4190 KNOX COUNTY SAVINGS BANK
4394200 COM:-IUNITY BANK
4394250 FIRST NS OF NEWARK
4394270 PARK NATIONAL BANK.
4394290 FIRST NB IN NfW eREMEN
43<.J.:. 370 PPL NB Of NEW LEXlN~TON
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439't440 OHi O BANK f. TRUST CO~PANY
43q,,510 NEW WATERFORD 8ANt(
43<~4520 DOLLA9. SAVINGS BANK co
4394530 NI LE$ 8ANK CO
4394599 MIO-AMERICA NB & TR co
43945CJO CTZNS ~B OF NORWALK
43946;)0 HUROtl CTY BANK.ING CO N4
4394640 ,•,s OF OAK HARBOR
4394650 OAK HARBOR STATE BANK CO
43~4690 OBERLIN SAVINGS BANK CO
43°4720 FIRST NAllONAL BANK
43~4730 ORRVILLE SAVINGS BANK
43948)0 LAKE CTY N3 OF PAINESVILLE
43948)1 LAl<.ESHORE TRUST CUMPANY
4]94940 FIR.SI NB OF PANOOkA
4394845 A"'IE!{ICAN NATIONAL BANK
4)94870 11B OF PAULDING
43<J4900 CJ Tl ZENS SAVINGS BA~K co
4394910 CITIZENS BANKING CO
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,SEH3ER BMIKS
SENEF IT TO SANKS COVERED SY ~001 F IEO H.R. 7
01
DSS
NAME
LOCATION
4394970 SUH( CIT HENS NB & TR CO
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43'16140
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PLYMOUTH
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PO,SEROY NA Tl ONAL BANK
P CME ROY
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PORT Cl!NTON
PORT CLINTON NATIOtlAL BANK
PORT CLINTON
NS OF PORTSMOUTH
PCRTSMOUTH
SECURITY CENTRAL NAT BA.NK
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QUAKER CITY
QUAKER CITY NATIONAL SANK
FIRST NB & TC OF RAVENNA
RAVENNA
RAVENNA
SECO~O NB OF RAVENNA
CENTRAL TRUST CCMPANY
REYNOLDSBURG
RICHWOOD BANKING CO
RICHWOOD
CHIPPEWA VALLEY BANK
RITTMAN
BA•K OF RUSSELLVILLE co
RUSSELLVILLE
BEUiONT CTY NEi
ST CLAIRSVILLE
ST HENRY BANK
ST HENRY
HOME BANKING CO
ST MARYS
FASMERS NB OF SALEH
SALEM
F IP ST NB OF SALE•
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CITIZENS BANKING COMPANY
SArWUSKY
THIQ.O Ne OF SANDUSKY
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0
0
0
65637
H214
203612
18786
23821
35277
34908
49702
93294
20398
71091
55967
79593
19097
18504
14689
58011
21494
839
28540
60116
1441
1116
474
196
1195
33518
23610
I 04066
55113
105601
109817
50667
40763 •
167596
5472l>
612
930
3360
1271
3082
3328
1417
671
2558
991
31199
395710
388762
571244
533
12646
10224
9593
36616
191
76587
1585
48171
22453
30759
~13
2348
1235
0
0
0
155
0
543
1099
69
933
a
4837
1362
2434
41
637
6481
10562
23563
976
2470
5059
5149
5211
0
891
411
1462
608
646
859
0
HO
0
0
0
0
0
0
0
0
5
2280
13582
0
0
0
161
OIF
131-151
2'46
638
3837
269
450
1185
901
0
803
441
2497
1364
2300
417
230
478
1474
619
900
1872
1598
2499
1552
1418
381
549
2050
1016
310
1817
1586
1811
2346
1235
933
4837
1362
637
8476
8282
9981
976
2470
1462
0
608
0
859
•
.••
••
•
•
•
••
•
••
•
•
•
••
.•
•
•
••
••
.•
••
•
....
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
~E~BER BA.~KS
Ill
DSB
NAME
TDEP
LOCATION
4396190 PrnPLES BANK & TRUST COHPANYVAN WERT
4396200 VAN WERT NATIONAL BANK
VAN WERT
'i396220 PEOPLES NATIONAL BANK
VERSAILLES
439b2b0 H'J~TINGTN 1ST NB OF MONA CTYWADSWORTH
4396270 WAKESA~ BANK CO
WAKf."AN
439t..Z80 FIRST NAT BK OF WAPAKONETA WAPAKONETA
4'.?- 0 6290 PEOPLES tlB OF WAPAKONETA
WAPAKONETA
43<16300 S£C3e<D NAT eANK OF WARREN
WARREN
43llt.310 UNION SAVl11GS ANO TRUST CO WAPRE N
4'3'tb330 FII\ST NB Or WASH COURT HOUSEWASH COURT HOUSE
4J9bl70 PEOPLES STATF SANK
WAUSEON
4'3CJ63SO FIRST NAT BANK OF WAVERLY
WAVERLY
1tl'°lb410 WAY~ESVILLE NATIONAL BANK
WAYNESVILLE
43qb430 FIRST NAT BK CF WELLSTON
WELLSTON
4]Cl6450 Hil"I VALLEY BANK
WEST ALEXANDRIA
4J':}6bl0 CL lN C1Y Nat re OF WILHINGTONWIL"-INGTGN
4,3Q66l0 FIRST r-1AT 6K OF WILMINJTCN
WIL.SINGTON
43'!bb'.)0 HU'lrl ~GTON BK OF WOODVILLE
WOODVILLE
~)96670 CITIZENS NAT BK OF WOOSTER WOOSTER
43%090 ~AY~E COUNTY NB OF WOOSTER
WOOSTER
4,'l6710 ClZ~S f IRST NB OF GREENE CTYXENIA
43<;67~0 XE~HA NI\T IONAL BANK
XENIA
4396750 DOLLAR SAVINGS t TRUST CO
YOUNGSTOWN
43%7b0 ~AMON ING NB OF YOUNGSTOWN
YOUNGSTOWN
43?6780 UNIO-~ NH BK GF vou,iGSTOWN YOUNGSTCWN
43q6790 CITIZENS NB IN ZANESVILLE
ZANESVILLE
4396800 FIRST NAT BK Of ZANESVILLE
ZANESVILLE
OF
257 BANKS AFFECTED IN STATE
- -----------------10400010
10400060
10400070
10400090
10,ryo 160
10400170
10400210
10400215
104002~0
l0400HO
l/17179
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
134
98
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
33548
60814
20460
39026
14866
55828
30268
182287
203999
29812
26384
31407
18668
15206
13597
54192
25169
25315
36278
79367
37932
29110
356772
243526
252056
63652
83010
121
VLTCSH
532
1251
227
438
203
882
237
4788
3067
455
H7
1075
190
318
355
773
579
162
780
1514
998
965
10907
7677
4487
2312
1761
131
1977
REQBAL
'120
1761
658
1039
358
1755
955
3990
7071
1016
747
313
542
284
217
2133
589
802
1120
2956
880
664
7337
4366
8918
764
2851
141
NEW
EPA
0
237
0
162
0
284
197
1593
4680
0
0
0
0
0
0
669
0
102
0
1567
0
0
3786
1859
5254
0
1469
151
NEW
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1722
0
0
161
DIF
131-151
920
1761
658
1039
358
1755
955
3990
7071
1016
747
313
542
284
217
2133
589
802
1120
2956
880
664
7337
4366
7196
764
2851
.•
•
•
••
•
••
••
•
•
•
.•
•
••
•
HAVE NO EARNINGS PAR Tl Cl PAT ION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
----------
FIRST NAT BK & TR CO OF ADA ADA
FIRST NAT BK OF ALTUS
ALTUS
NAT I CNAL BK OF CHRC OF Al TU SALTUS
CENTRAL NAT BK OF Al VA
ALVA
ARDMORE
EXCHANGE NAT BK & TR CO
FIRST NAT BK & TR OF AROHOREARO~ORE
FIRST NB IN BARTL~SVILLE
BARILESVILLE
PLAZA NB OF BARTLESVILLE
BARTLESVILLE
FIRiT NAT BK OF BETHANY
BETHANY
FIRST NAT BK & TR CO
BLACKWELL
10400I,i)Q A•E~ICAN NB OF BRISTOW
BRISTOW
-------------------------------OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
59421
33585
21555
31253
62326
70378
143 773
31328
45832
21817
20844
353
396
348
326
1012
369
1207
486
506
263
217
2368
1445
766
1083
2325
3299
10347
757
1807
696
603
960
40
0
0
1031
1832
4660
0
361
0
0
0
0
0
0
0
0
2747
0
0
0
0
2368
1445
766
1083
2325
3299
7600
757
1807
696
603
•••
••
•
••
••
....
m
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BANKS
OS B
BENEFIT TO BANKS COVEREO BY MODIFIED H.R. 7
NAME
111
TDEP
LOCATION
10400440 FIRST NAT BK OF BROKEN ARROWBROKEN ARROW
10400570 F JR ST NAT BK OF CHANDLER
CHANDLER
1041)0580 UNION NAT BK OF CHANDLER
CHANDLER
1040".)bt.,Q FIRST NATIONAL BK t TR CO
CHICKASHA
l040067C OK NB t TR CO OF CHICKASHA CHICKASHA
10400690 F tR ST NAT BK IN CLAREMORE
CLAREMORE
104()::)740 FIRST NAT BK IN CLINTON
CLINTON
CORDELL
l04008l0 CIJROELL NlftDr1AL BANK
104()0820 F~R~ERS NAT BK OF CORDELL
CORDELL
CUSHING
lJ400<tJO FAPMERS NAT BK OF CUSHING
10400910 FIRST NAT BK Of CUSHING
CUSHING
DEWEY
104009'30 FIRST NAT 9K OF OE~EY
10 1,01040 OKLAH □ ~A NB OF OU~CAN
DUNCAN
10401050 SECURITY NB t TR OF DUNCAN
DUNCAN
DURANT
11401070 flq_Sf NAT BANK IN DURANT
EoMo~m
104011 JO FIRST NAT BK OF EDMOND
ELK CITY
10 ➔ 01130 fAR~[RS NAT BK OF ELK CITY
El RENO
10401 lbO CITIZENS NAT BK t TR CO
10401170 FIRST NB t TR CO OF EL RENO EL RENO
llJ'.,.1)1190 CUHRAL NAT eK t TR
ENID
E~ID
10401190 FIRST NB t TR CO OF ENID
ENID
1041112GO SECUQ.ITY NAT BK Of ENID
10401210 FAIRVIEW STATE 8AtJK
FAIRVIEW
10 1,012135 FAR~ERS t MERCtiANTS NAT BK FAIRVIEW
1()401340 FIRST NAT BK IN FRED !CK
FREDERICK
GUTHRIE
10401~70 FIP.ST NAT 3K CF GUTHRIE
GUYl~CN
10401500 FIRST NB OF GUYMOn
HE N~E SSE V
10 1.01~10 FIR~T tl4T BK OF HENNESSEY
HOP ART
l J4Ul t..-.40 f IP ST NAT BK IN HOBART
l04Jl6'.i0 1ST NB t TR CO OF HOLDENVLLEeCLDENV ILLE
HOHi NY
l04Jlb30 FIRST NAT 8K IN HOMINV
HUGO
l14Cll710 CITIZE'IS STATE BANK.
11401120 SfC 1JRITY FIRST NATIONAL 6ANKHUGO
!DAB El
11401730 IDABEL ~lATlC1"lAL BANK
l'J4f'lB70 PEOPLES NAT eK Of KJNGFISHERK1fo1GflSHER
10 ➔ Qlt;10 A~E'UCAN NA.T AK Of L A1r1TON
l.A,i'l □ N
10401G38 CJTllE'IS NAT BA"IK. OF LA:,n ON LAWTON
LAWTON
104019-tO CITY NATIONAL BK t TR CO
10402020 FIRST NAT BK t TR CO OF
MC ALESTER
,SC ALESTER
l0402010 NA Tl ONAL BANK OF
MADI LL
ll 40 20 50 F JO ST NAT BANK IN MADILL
MARLOW
10402140 STATE NAT BK OF MARLOW
MI AS I
10402240 FIRST NAT !3)( OF MIAMI
104022 53 AMF.q_l(AN NB Of SIDWEST CITY MIDWEST CITY
MIDWEST CITY
10402255 FIRST NB OF MIDWEST CITY
10402340 CITIZENS NAT BK OF MUSKOGEE MUSKOGEE
OK
OK
OK
OK
OK
OK
OK
OK
OK
CK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
CK
OK
OK
35976
17540
16991
39716
44892
27177
23174
30184
22829
21359
29713
22693
33519
97319
37135
20035
24568
23709
31934
1117179
131
1917
141
NEW
REQBAL
EPA
594
1247
137
602
500
1532
1999
110
0
0
277
707
0
121
Vl TCSH
149
460
397
328
277
136
11a
314
237
489
238
694
690
2b1
375
192
342
95493
58669
55600
1042
16469
15963
19828
26691
27153
bl
15633
15847
710
433
99
164
439
141
61
188
175
239
873
818
1015
153
0
221
90
700
0
1150
577
1284
4337
1092
691
894
953
1149
3274
2392
54
0
50
2340
2320
554
591
839
698
1430
520
418
12'9
31394
16403
18136
26258
26777
31671
3 7636
14223
57120
74953
52791
16895
21853
402
379
320
2316
2107
269
678
42682
27495
42199
46617
947
617
1973
633
814
689
371
1972
0
0
0
0
0
1513
868
1018
0
0
0
0
149
0
0
79
450
462
191
505
398
557
782
1324
70
345
0
0
0
0
448
1818
410
203
377
743
893
249•
0
1277
712
584
0
0
0
151
NEW
REC BAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
600
0
0
161
DIF
131-151
1241
602
500
1532
1999
873
818
1015
753
700
1150
571
1284
4337
1092
691
894
953
1149
3214
2392
2320
554
591
839
b98
1430
520
478
1249
••
•
••
•
••
••
•
••
•
•
•
•
•
••
•
.•••
505
398
557
782
1324
1818
311
2494
2316
2107
269
678
81~
6e9
371
1972
•
•
•
•
•
....
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
MEM3ER BANKS
Ill
DSB
NAME
TDEP
LOCATION
10402360 FIRST NB t TR CO Of MUSKOGEEMUSKOGEE
10402420 CI TY NAT I ONAL BANK t TR
NORMAN
NORMAN
10402430 FIRST NATIONAL BK t TR
10.:.az440 SECUq ITV NATIONAL BK ANO TR NOR~A~
10402450 FIRST NAT BK Of NOWATA
NOWATA
NOWATA
10402455 VICTORY NAT BK Of NOWATA
10402520 CENTRAL NATICNAL BANK
CKL AHO.•A C ITV
GKlAHO,•A C ITV
10'-02525 CITIZENS ~AT BK t TR CO
104(12530 CITY NAT BK C.TR ca
OKLAHOMA C ITV
0KlAH0'1A CI TY.
10402 54 0 FIDELITY BANK NA
10402560 FIRST NATIONAL BK C. TR
CKL•HOSA CITY
OKL AHO,'IA CI TY
10402563 FIPST NAT BANK OF BRITTON
CKLAHD,'IA CITY
l'.J4J25b4 FR I ENDL Y NAT BANK IN SW
104""2570 LlflERTY NATIGNal BK t TR CO OKLAHOSA CITY
OKLAH0,"1A CITY
l,:J4025d0 OKLAHO~A NAT BA~)( t T~ CO
CK LAHOMA CITY
10402585 PEWI SQUARE 8:\NK NA
10402620 CJTllf:NS ~,,u BK & TR CO
OKMULGEE
10.:,02022 FIRST NATIONAL BANK & TRUST GKHULGEE
10402640 F JR ST NB OF PAULS VALLEY
PAULS VALLEY
l0.'.t02b50 PAULS VALLEY NATIONAL BANK PAULS VALLEY
PERRY
10'902720 FIRST NAT BK C. TR CO
PONCA CITY
l04'J2750 FIRST NATIONAL BK t TR
PONCA CITY
10402755 PIONEER NATIONAL BANK
h)402 710 Cf'HRAL NAT 8K OF POT EAU
POTE AU
PRAGUE
10402800 FIRST NAT BANK OF PRAGUE
PRAGUE
1040281 0 PRAGUE NATIONAL BANK
PRYOR
10402830 FIRST NAT BK OF PRYOR
10402850 MC CLAIN CTY NATIONAL BK
PURCELL
104 1)2970 NATIONAL BANK OF SALLISAW
SAll I SAW
SAPULPA
10102990 AMERICAN NATIONAL BK C. TR
lfl4029G5 SECU~ITY NAT BK Of SAPULPA
SAPULPA
l04Q30l0 FIRST NAT BK OF SAYRE
SAYRE
104')3()70 AM!:RICAN N~tTC Of SHAWNEE
SHAWNEE
100:.030(}0 FEDrnAL NAT BK & TR
SHAWNEE
11J403130 FIRST NAT SK OF ST IGLER
STIGLER
STILLWATER
lO ➔ 'J3 l-=tO FIRST NAT BK t TR
l')l,•)3150 ST lll~ATER NAT BK t TR
STILLWATER
1 AHL 'EQUAH
10433220 FIRST NAT SK OF lhHLECUAH
TONKAWA
1040335:l FIRST tll\T BK IN TONKAWA
TULSA
10403367 BANK OF 01<.LAHG~A NA
TULSA
104033:30 FIRST N4.T OK £. TR OF TULSA
TULSA
l041J3qo FnuRTH NAT ~K Of TULSA.
TULSA
104333 'H GUA~ANTY NH IONAL BANK
l04J 342 5 UTICA NATIONAL BMJK t:. TR co TULSA
TULSA
1()4) 3426 U"H0'-1 NATION~L BANK
VIN I TA
10403510 FIRST NATIONAL BK t TR
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK.
OK
OK
OK
·OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
GK
OK
OK
OK
OK
OK
l/17/79
121
VLTCSH
54691
752
44834
409
36139
75227
20196
15381
79048
1141B2
49992
324643
861695
39439
46941
740191
56470
63299
25324
39323
19791
18910
35087
59427
19552
21805
19012
21764
23952
30739
23121
40867
21409
17478
70837
473
96568
23258
52189
56368
31383
16374
665181
654666
224554
52746
18 I B 17
2IB29
42904
461
164
163
sos
691
649
1843
2304
348
515
3474
664
418
458
488
242
208
194
658
212
242
95
97
230
143
268
354
355
78
1360
1243
225
2329
458
426
166
1133
7411
B92
860
1989
410
451
131
1977
REQBAL
UI
NEW
EPA
1922
1693
1234
3134
492
621
116
517
3443
4974
1930
I62H,
50613
1214
1680
36736
2341
3063
859
1565
747
810
1348
2346
542
855
636
844
936
1160
765
1774
682
669
2117
3556
652
0
2160
1167
519
30602
31642
12913
1350
8263
361
1504
10
1971
0
0
2261
3060
613
5444
5795
388
320
5892
866
1684
0
271
0
0
421
805
0
0
0
4
0
109
0
434
0
0
668
2244
0
0
681
51
0
5691
5908
5692
219
5548
0
121
151
NEW
REQBAL
0
0
0
0
0
0
0
0
0
9606
40531
0
0
26914
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
20980
2202'
5426
0
1330
0
0
161
OIF
131-151
1922
1693
1234
3134
TIS
Sil
3443
4974
1930
8640
l02B2
12H
1660
1822
2341
3063
859
1565
747
810
1348
2346
542
855
636
844
936
1160
165
1714
682
669
2111
3556
852
0
2160
1167
519
9622
~bl8
1487
1350
6933
361
1504
•
•
•
•
.
•
••
•
•
•
•
••
•
•
•
•
••
•
•
•
..•
.••
....
'7)
en
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
'4EHBER BANKS
CII
DSO
NAME
10403620 SECURITY STATE BANK
10403750 BANK CF WOODWARD
10403810 FIRST NAT BK OF YUKON
10403820 YUKO'! NATIONAL BANK
OF
1117/79
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
LOCATION
WEATHERFORD
WOODWARD
YUKON
YUKON
107 BANKS AFFECTED IN STATE
50
49
TDEP
OK
OK
OK
OK
20170
39136
32689
H334
121
YLTtSH
159
H4
307
300
131
1911
REQeAL
141
Nflf
791
1312
1089
1171
0
0
55
175
FO~EST GROVE NATIONAL BA~K
FIRST NB OF Mt '41NNVILLE
CRATER NATIONAL BANK
NATIONAL SECURITY BANK
FIRST NAT BANK Of OREGON
l2410c:;60 U•IITED STATES NATIOIIAL BANK
l24105qz DOUGLAS NATIONAL BAIIK
OF
7 BANKS AFFECTED IN STATE
FIRST NAT BANK AT ALBION
FIRST NAT BK OF ALLENTOWN
MERCHANTS NB OF ALLENTOWN
PHILADELPHIA NATIO~AL BANK
CITIZENS NB Of ASHLAND
FAR.~ERS NAT BK OF ATHENS
Fl~ST NAT BANK OF AVOCA
CE,HRAL-PENN NATIONAL BANK
FIRST PENNSYLVANIA BANK NA
GIRARD BANK
•ER CHANTS NAT BK OF BANGOR
FIRST NAT BANK OF BATH
BEAVER TRUST COMPAIIY
FIRST NAT BANK IN BEDFORO
HARTLEY NAT BK OF BEOFORO
NATIONAL BK OF WESTERN PA
PHILSON NAT BANK OF BERLIN
FIRST NAT SANK OF BERWICK
BLUE BALL NATIONAL BANK
161
Dlf
131-151
791
1372
1089
1171
0
0
0
0
.••
•
---------FOREST GROVE
Ht HINNVILLE
MEDFCRD
NEWPORT
PORTLAND
PORTLAND
ROSEBURG
3
2
OR
OR
OR
OR
OR
OR
OR
23427
25948
43718
26760
2816713
26532'19
55758
352
240
939
296
39670
35216
538
777
1075
1322
886
132075
132872
2481
0
0
46
0
5086
5117
1256
ALBION
ALLENTOWN
ALLENTOWN
AR DH ORE
ASHLAND
ATHENS
AVOCA
BALA-CYNWYD
BALA-CYNWYD
BALA-tYNWYD
BANGOR
BATH
BEAVER
BEDFORD
BEDFORD
BERL IN
BERLIN
BERWICK
BLUE BALL
0
0
0
0
86351
891'16
0
777
1075
1322
886
45724
43676
2481
•
•
••
•
------PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
14910
640526
410076
2452375
23205
15466
21565
613613
3433931
2110485
40032
2'1744
72590
27312
217H
52910
13002
41473
62144
2'tl
10189
8979
44090
608
351
379
15H2
42176
66320
249
30'1
3167
673
438
5%
107
367
1178
375
18123
8830
137561
264
202
357
22017
147521
61924
1209
770
820
779
571
1722
358
1276
1548
0
5136
504',
5529
0
0
0
5153
5336
5036
376
47
0
D
0
298
0
181
0
0
10738
1616
8880',
0
0
0
10557
109'165
26133
0
0
D
0
0
0
0
0
0
....
i
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED AES ERVE BALANCE
------------------------------------4-.20036
3420075
342.)0<J9
3420204
3420234
3420270
3420297
3420321
3420328
3420329
34203'i'2
3420360
H20369
34204?3
3420432
442J532
4420540
3420576
3.;20120
151
NEW
RHtAL
HAYE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE eALANtE
HAVE NO REQURED RESERVE BALANCE
---------------------12410230
124103SO
12410383
12410465
12410520
EPA
375
7385
7214
48757
264
202
357
11460
3H56
35791
1209
770
820
779
57i
1722
358
1276
1548
•
••
•
•••
•
•
•••
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ME~BER BANKS
OSB
3420756
4420837
3420891
3420920
3421026
3••21035
44210<39
342 l 161
342l1'J5
3 1t-21377
3421404
34216~5
34217l0
3421755
l/ll/79
BENEFIT TO BANKS COVERED BY HDDIFIED H.R. l
NAME
NAT BANK OF BOYERTOWN
BRIDGEVILLE TRUST COMPANY
BROWNSTOWN NATIONAL BANK
PROVIDENT NATIONAL BANK
FIRST NAT BK OF CANTON
FIRST NB OF CARBONDALE
FIRST NAT BK Of CARMICHAELS
LOCATION
BOYERTOWN
BRIDGEVILLE
BRGSNSTCWN
BRYN MAWR
CANTON
CARBONDALE
CARMICHAELS
SOUTH SI DE NAT BANK
CAI AW I SSA
SOUTHl:AST NATIONAL BK OF PA CHF.STER
CENTRAL PA NATIONAL BANK
CLAYSDURG
COUNTY NATIONAL BANK
CLEARFIELD
ADAMS COUNTY NAT BANK
CUMBERLAND TWP
DALE NATIONAL BANK
DALE
FIRS! NS OF DANVILLE
OANV ILLE
3421'\09 OfNVER NATIO~Al BANK
DENVER
3421 e12 oow~n NGTCWN NAT I ON At BANK
DOWNINGrnWN
3421926 OE?OSIT NATIONAL BANK
OU BOIS
3421911 FIRST NB OF OUNMO~E
DUNMORE
34220't3 EASTON NAT BK t TR CO
EAS!ON
3422142 LAUR.SL NATlmJAL 8At,;K
EBENSBURG
31't?.2160 PEOPLES NB OF EOWARlSVILLE EDWARDSVILLE
3422268 EL VER SON NA. T IONAL ~ANK
ELVERSON
4t.222B6 FAR~ERS NAT BK OF EMLENTON
EHLE NTON
3422322 EPHQ;ATA ,JATIONAL BANK
EPHRATA
4422394 CITIZENS NB OF EVM~S CITY
F.VANS C ITV
3422412 Fl RS T NAT BANK OF EVERETT
EVERETT
3422448 FIRST NAT BANK OF FAIRFIELD FAIRFIELD
342 2 43 4 FIRST NAT BANK IN Fl E !:TWOOO FLEETWOGO
3422520 COM'-tUNITV NATIONAL BANK.
FOREST CITY
3422574 FHlST NB OF FREDERICKSBURG
FRfD[R I CKSBURG
4422'67-8 VALLEY NATIONAL 8Af,,jK
FREE PORT
-'t422646 FIRST NAT BANK OF fRVBURG
FRYBURG
44226'32 FIRST ~JAT aA"IK OF GARRETT
GARRETT
3422709 G!:TTYSSURG NATIONAL 8M~K
GUTYS8URG
3422790 CITIZENS NB OF GREE'ICASTLE
GREENCASTL.E
3422799 FIRST NAT BK OF GREE~CASTLE GREENCASTLE
4422830 SCl.lJH',1!:ST ~ATICNAL BK OF PA GRErnSBURG
4'1228'14 Fl~ST ~AT BK CF MEP.CER CTY
GREE NV l LLE
3422€99 PfOPLES Ng CF SUSOUEHA~~A
HALLSTEAD
HARLEYSVlllE
3422961 HARLEYSVILLE UB (. TR CO
HARRISBURG
3423010 COM.'10f..l'WEAL TH f'.IAT IO~JAL BK
3423096 FIRST ~IAT SANK OF HAMLEY
HAhLEY
)423132 HAZLETON NATIONAL BANK
HAZLETON
HAZlElON
3423140 P[O?LES FIRST NB t TR CO
44231!36 Fl RSI NAT BA.NK OF HERMINIE HERMINIE
34232)4 HERSHEY NATIONAL BM~K
HERSHEY
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
111
TDEP
121
VL TCSH
109129
58505
23637
1510
906
353
25428
229
1636
462
368
9229
1681
1239
1452
1204
536
597
773
2146
432
2548
1970
448
307
109
987
4622
578
610
291
507
314
326
68
112
976
391
538
3448
3211
651
943
16108
111
1647
3902
575
696
1332658
18027
80895
21876
18791
48 598 I
55651
77695
105892
53834
38460
414 75
42380
121744
34026
148189
111837
36237
18350
13941
7132b
78059
28765
13972
17806
25806
13778
34362
17369
19108
74277
45039
27920
1847B6
145004
23038
45597
665006
18476
113919
122483
31913
60852
I 31
1977
REQBAL
3362
1921
608
M544
452
1370
558
346
19633
754
3063
2939
1057
950
1159
1161
3959
836
4087
3159
814
481
451
206b
0
749
0
383
418
227
1273
708
613
2356
1396
528
t057
2937
230
1015
20584
526
273B
980
701
2480
(~I
NEW
EPA
(51
NEW
REQBAL
1731
651
0
0
0
0
5491
44439
0
0
0
0
0
0
0
0
0
0
10975
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5325
11513
32
870
0
0
1182
0
0
0
0
0
5412
0
1377
968
0
0
D
0
1806
58
2246
1613
130
0
0
627
0
0
0
0
0
0
0
0
36
1095
118
0
4199
IH2
(61
Dlf
131-( 51
3362
1921
608
20105
452
1370
558
346
8658
754
3063
2939
1057
950
1159
1161
3959
836
4087
3159
814
481
451
2066
0
749
0
363
H8
227
1273
708
613
2356
1396
52B
6057
2931
230
1015
9071
528
273B
960
TOI
24B0
••
..•
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•
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•
•
.
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•
•
•
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•
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~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BANKS
asg
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
NA•E
LOCATION
342328 5 H'JNESDALE NATIONAL BANK
HONESDALE
3423303 FIRST NAT BK OF HONEY BROOK HO~EY BROOK
3423366 GRANGE NB OF L YCC~ I NG CTY
HUGHESVILLE
3!t23393 PENN CENTRAL NATIONAL BANK HUNT INGOON
3423411 UNIO~ N8t:TR CO OF HUNT INGDONHUNT INGOON
4423456 NAT BANI<. OF lHE COMMON'rlEALTHlf\OIANA
lt423t,65 SAVINGS & TRUST CO GF PA
!~DIANA
4423510 PITTSBURGH NATIONAL BANK
JEAt..:'IETTE
3'9235 116 FIRST N..\T BANK OF JER,"tYN
JERMYN
3423573 FIRST NAT 8Ar4K OF JESSUP
Jf SSUP
J l.'1 THORPE
3423575 JI"" THORPE NATIONAL SANK
34236J9 ,'10X'-IA~ rJAT 8Ar4K. OF JOHNS TCWNJOHNS TOWN
3.42361!! USITED STATES NATIONAL BAN!<. JOHNSTOWN
KENNETT SQUARE
34?3645 NAT tO~AL BK & TR CO
44?)6'11 FAR.'•4:'.RS NAT BK OF KI TT ANN I NGK I TT ANN I NG
lt4?3690 MERCH•NTS NB OF KITTANNING KITTANNING
3423762 GRA,'Vif UAT 8K OF ~YC'-tlNG
LACEYVILLE
3421771 FIRST NAT BK OF LAKE ARIEL
LAKE ARI EL
).;?38·18 NAT ?O'lAL CENTRAL BA~K
LANCASTER
3'423870 CITIZENS NAT BK OF LANSFORD LANSFORD
t.423CJJ6 C"1RC NS OF kEST ... OR(LArm CTY LATROBE
3423?42 F AQ:'if: RS P~US T CO OF LEBANON LE6ANON
3423969 LEBArlON VALLEY NATIONAL BK
LEBANON
3423987 PEOPLES NAT BANK GF ll:BAN □ N LEBANOtl
44240J5 FIRST NAT BANK OF LEECHBURG LEECHBURG
3424()14 FIRST NAT BANK OF LEESPORT
LEESPORT
34240'.':)!3 LEWIS!3URG nATIONAL BANK
LEW I SBURG
J't240IJ6 UN I~)~ NAT BA"IK OF LEWISBURG LEWISdURG
3424104 LEWISTCW~ TRUST CO~PANY
LEWI ST OWN
3't24l22 RUSSELL nAT BK OF LEW IS TGWN LEWI STOkN
3"t24l94 C 0~."1:JN I TY NAT BK OF S PA
LITTLESTCWN
3424257 LUZER~~E NATIONAL BANK
LUZ ERNE
34243)2 FIRST NB OF MC CONNELLSBURG MC CONNELL SBURG
342431 l FULTGN cou~TY NATIONAL BANK MC CONNELL SBURG
4424347 SC KEE SPORT NATIONAL SANK
MC KEESPORT
3424473 "IArlHE IM NA.TI ONAL BANK
MANHEIM
3424491 FIRST CITIZENS NAT BK
MANSF IELO
34245JO FIRST N•T BANK OF MAPLETCN MAPLETON
44245b3 MA~IQN CENlER N4TIONAL BANK MAR ION CENTER
4424572 "'IAPS NATICNAL BANK
MARS
4't24b1)~ SEC~~rn NAT B< Cf MASONTO\,,N
MASONTOWN
44.!.4672 FIR ST ~/ATIONAL BA\!K OF PA
MEADVILLE
3424752 FIRST NAT BK CF ~[RCERS9URG MESCERSBURG
4424770 CITllEllS NB Of MEYERSDALE
•EYERSDALE
34?473q S< I 'lEFORD NB OF MI DOLE BURG MIDDLEBURG
3424790 TRI-COUNTY NATIONAL BANK
MIDDLEBURG
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
-PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
I 11
TDEP
121
VL TCSH
29569
20351
18109
64803
55016
173146
121977
2403317
70392
14700
13644
60563
305266
51348
20226
28733
18089
12652
1067749
13539
52600
31597
116253
44549
39860
34 725
28194
15857
23124
80515
28912
22877
20285
15281
60503
30179
44899
24029
14580
35427
27923
39b052
15645
15442
33449
66164
455
173
245
1223
876
3684
1523
31718
1091
310
271
1670
7460
680
244
618
170
77
14808
118
1209
356
2505
957
802
476
480
23-3
414
1860
668
418
297
241
2468
369
672
563
181
484
641
6039
159
125
584
B84
1111119
I 31
1917
REQBAL
141
NEW
EPA
673
632
4H
1711
1560
0
0
0
375
511
3999
3066
5078
213
0
0
213
5462
838
0
0
0
0
5070
0
0
0
son
5030
131784
1573
151
2H
1288
7932
I95 I
642
692
428
338
38903
324
151
NEW
REQBAL
0
0
0
0
0
0
0
85654
0
0
0
0
1464
0
0
0
0
0
26H4
0
0
0
0
0
0
0
0
173
0
0
692
383
579
1701
417
356
597
401
694
810
1218
3b3
372
1277
4T7
13344
443
522
750
1899
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5741
0
0
0
0
1133
970
2674
952
784
465
645
0
0
0
0
0
4
0
0
0
7
0
5078
0
0
0
SIT
161
Dlf
131-151
673
632
434
1711
1560
5097
5030
46130
1573
151
244
1288
6468
1951
642
692
428
33B
12159
324
1133
970
2b74
952
784
773
692
383
579
I TOI
417
356
597
401
694
BIO
1218
363
372
1217
4T7
7603
443
522
750
1899
.•••
•
•
•
•
..••
•
•
•
•
.•
.•
..•
•
.•••
•
.••
•
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY HDDIFIED H.R. 7
MEMSER BANKS
Ill
DSS
NAME
4424815 FIRST NAT BANK OF MIDLAND
3424860 JUNIATA VALLEY NAT BK
342486q f IRST NAT BK Of PIKE CTY
3424890 UPPER OAUPHI N NAT BANK
3424914 FARSERS NS£ TR CO
3424932 FIRST NH BK CF MILLVILLE
3424950 Ft'lST NAT 3ANK OF HILT □~
"3424968 FIRST NAT BK OF Ml"<ERSVILLE
4425iJl3 NATl•JNAL BK OF BEAVER CTY
3425:)76 cournv NAT BANK OF :-'ONTROSE
3;25 l? l LJgERTY ST B!<. OF "IT CARMEL
3425130 UN I o~i NB OF '10UNT CA'UiEL
342 5 l 66 UN ( ON NA Tl ONAL MT JDY BK
34252'.13 NUH ICOKE NATIONAL HANK
342'5328 NAZARETH NAT BK & TR CO
3425]37 SfCONO NAT BANK OF N,AZARETH
3425346 NErFS NATIONAL BANK
442 542 7 CITIZENS NO OF NEW CASTLE
4425436 FIRST Ng Of LAWRENCE CTY
34~5472 CUH8ERLANO CTY NAT BK
3425508 ,Ew HClLA"D FARMERS NAT BK
3425~17 SCLEf\URY rm OF NEW HOPE
31t25598 FIRST N.\l'lONAL BK & TR CO
342 5616 t:EW TRJPClt NATIOUAL BANK
3425652 FIRST NB OF NICHOLSON
l425b97 C[MrnT N 8 NORTHAMPTON PA
442',124 NATIONAL BANK OF NORTH EAST
3425733
3425832
34 2 5 93 5
3425':lt;O
342 5904
3425('Hb
34259d 5
3425994
4426620
4426696
4426723
4426822
342b957
3426966
3426975
3427056
3't2l'l65
44.27119
3427137
TDEP
LOCATION
MIDLAND
HlffllNTCWN
HILFORO
HILLERS BURG
MILLHEIM
MILLVILLE
MIL TON
MINHSVILLE
MONACA
HCNT ROSE
MCUNT CAR•EL
MOUNT CARMEL
HGUNT JOY
NANTICOKE
NAZARETH
NAZARETH
NEF f S
NEW CASTLE
NEW CASTLE
NEW CUMBERLAND
NEW HOLLAND
NEW HOPE
NEWTCWN
~EW TRIPOLI
NICHOLSON
NCkTHAMPTON
NORTH EAST
NORTHU:"18ERLANO NAT 6K
NORTHUMBERLAND
NAT BANK OF OLYPHANT
OLYPHANT
COLUSBIA CTY FARMERS NB
ORANGEVILLE
OR~STOSN BANK
ORRSTOWN
flRST N6 OF PALMERTON
PALMERTON
FIRST No OF PECK VILLE
PECKVILLE
FIR ST NB OF PEN ARGYL
PEN ARGYL
PEN ARGYL
PEN ARGYL 'lA TIONAL BANK
ECUIBANK NA
PITT S8URGH
IRON ANO GLASS BANK.
Pl TT SBURGH
~ELLON BANK NA
PITTSBURGH
UNIO"l NAT BK Of PITTSBURGH Pl TT SB URCH
PORT~GE NATIO~AL BANK
PORT AGE
FIRST riB OF PORT ALLEGANY
PORT ALLEGANY
PORTLAND NATIONAL BANK
PORTLAND
SINERS NAT BK OF POTTSVILLE POTTSVILLE
PEN-~ISVLVANIA N 6 C TRUST CO POTTSVILLE
KEYSTONE NATIONAL BANK
PUNXSUTAWNEY
QUAKERTOWN NATIONAL BANK
QUAKERTCWN
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
1/17/79
121
VL TCSH
13192
238
50595
30352
35506
763
406
690
402
220
347
295
1214
765
207
647
391
387
1075
590
ll4
1105
102080
1659
236221
62290
31412
40070
18814
22959
101579
27795
17049
28648
30346
13250
44266
3807
34931
18594
14256
15945
18070
24177
57983
15586
21766
31200
29149
66943
40377
15979
29602
19131
29253
1816828
31830
5531314
892600
30364
14715
l 791I
69'15
287145
106224
44864
131
1917
REQBAL
272
1351
795
724
375
343
389
354
0
1631
363
127
889
516
1400
1004
426
'"'
NEW
EPA
0
225
49
0
0
0
0
0
151
NEW
REQBAL
0
0
0
0
0
0
0
161
Dlf
131-151
272
1351
795
724
375
343
389
354
0
1631
363
127
889
516
1400
1004
426
0
0
0
0
0
0
0
0
0
116
0
0
0
0
0
0
2464
790
0
0
0
0
548
0
0
0
0
0
0
0
0
0
0
965
0
0
0
0
0
0
0
0
0
0
0
0
D
0
7346
1950
854
959
484
426
1952
591
374
553
801
434
1010
334
'20
0
31'l
0
0
372
444
406
59
695
662
247
408
3864
8311
1950
854
959
484
426
1952
591
374
553
601
434
1010
334
420
480
34909
593
55557
0
5111
0
39764
593
15793
788
44152
835
285010
0
4929
13473
622
143
215
1322
51•6
1291
615
H602
617
5055
0
0
0
0
835
98639
15593
617
481
430
867
435
991
202
390
1835
637
Sl3't
9558
5696
0
186431
28009
0
0
0
0
3513
3688
1155
2140
122
0
0
461
430
1682
408
38bit
1682
6045
368d
1155
••
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•
•
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•
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•
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•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BANKS
Ill
DSB
NAME
3427155
3427326
4427410
34274JO
44276J5
3427677
3"t27695
3427767
44271!21
lt427830
3lt21875
3•27920
3.:,2 792 9
3427974
4429001
H28032
3428100
3428163
3428190
3423253
3428316
3429496
3428577
4428622
ft.428712
4428125
3428757
3428766
3428794
342a793
3428874
)42 9-;,9 2
3 1+:!90Z7
3429000
342911 7
4429144
342n25
3429252
4429333
OF
1/17179
BENEFIT TO BANKS COVERED BY !411DIFIED H.R. 7
LOCATION
TDEP
fAqHERS NB OF QUARRYVILLE
QUARRYVILLE
RIDGWAY NATIONAL BANK
RIDGWAY
CEIITURY NAT BK & TR CO
ROCHESTER
FIOELITY BANK
ROSEMONT
FIRST NAT BANK OF SCOTTDALE SCOHDALE
SCRA~TON NATIONAL BANK
SCRANTON
THIRD NAT BK & TR CO
SCRANTON
-~AqKET STREET NATIONAL BANK SHAMOKIN
MC DOWELL NAT BK OF SHARON SHARON
MEqCHANTS ANO HFGRS NAT BK SHARON
MERCHANTS NB OF SHENANDOAH SH(NANDOAH
FIRST NAT BK OF SHIPPENSBURGSHIPPENSBURG
PEOPLES N3 OF SHIPPENS3URG SHIPPENSBURG
CITIZENS NB OF SLATINGTON
SLATl~GTCN
FIRST NB OF SLIPPERY ROCK
SLIPPERY ROCK
SCMERSET TRUST CO
SOMERSET
U~ION NAT BK & TR CO
SOUDERTON
S•RING GROVE NATIONAL BANK SPRING GROVE
PEO•LE S NAT BK OF CNTRL PA STATE COLLEGE
FIRST NAT BANK OF STRASBURG STRASBURG
FIRST NATIONAL TRUST BANK
SUNBURY
FIRST IIA T BK CF BRADFORD CTYTOhANOA
FIRST eLAIR CTY IIAT OK
TYRONE
GALLATIN NATIONAL BANK
UNIONTOWN
WARREN NATIONAL BM~K
WARREN
FIRST NAT BANK & TRUST CO
WASfllNGTON
FARMERS NB OF WATSONTOWN
WATSONTCWN
WATSONTOWN NATIONAL BANK
WATSDNTCWN
CITIHNS NH BK & TR CO
WAYNESBORO
FIRST NAT BK & TR CO
WAYNESBCRO
FIRST NB OF WEST CHESTER
WEST CHESTER
FIRST EASTERN BAN~ N A
WILKES-BARRE
WYO~ING NS OF WILKES-BARRE WILKES-BARRE
FIDEL ITV NATL BAIIK OF PA
WILLIAMSPORT
WI LL I A~SPORT NATIONAL BANK WILLIAHPORT
CITIZENS NAT BK IN WINDBER WINDBER
FIRST NATIONAL BK OF WYOHINGWYOMING
DROVERS t MECHANICS NB
YORK
FIRST NAT BANK OF YOUNGWOOD YOUNGWOOD
196 BANKS AFFECTED IN STATE
118
59
-----------------------------------------
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
28229
17781
50930
16B1296
32439
90B21
151078
15742
162791
40915
21820
39515
32551
18179
31467
52773
141015
24642
59467
74828
92484
40828
19656
'306590
159837
184694
16482
13757
30978
60780
52816
447930
176586
121176
93783
40544
23256
79312
21394
121
VllCSH
32't
250
1830
54575
971
1190
3430
3B8
35H
591
454
645
515
253
43B
2420
2280
467
1710
1063
1556
1064
743
7714
3049
3249
143
188
795
1075
731
10942
3542
2076
2172
1314
467
H51
365
131
1977
REQBAL
862
532
655
53404
520
2226
3155
27B
3630
1064
289
842
815
375
912
293
4852
403
, .. 11
2205
2487
637
318
8159
4110
6482
453
330
432
1529
2111
10022
4011
3435
2362
349
418
864
514
141
NE•
EPA
151
NEIi
REQBAL
0
0
0
0
0
0
5H2
28647
0
176
1623
0
2HO
83
0
127
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3068
0
0
939
1260
0
0
4856
2646
3890
0
0
0
0
954
4692
2451
1880
960
0
0
0
0
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
161
DIF
131-151
862
532
655
2"757
520
2226
3155
218
3630
1064
289
842
B15
375
912
293
4852
't03
1411
2205
2487
637
318
8159
4110
6482
,.53
330
432
1529
2111
10022
4011
3435
2362
349
418
86,.
514
•
••
.
•
•
••
••
••
••
••
••
•
••
••
•
....
~
c:,
MEMBER BANKS
.
~
0
.,
~
DSB
NAME
1440050
1440130
1440165
1440210
l/17/79
BENEFIT TO BANKS COVERED BY HOOi F IEO H.R. 7
NEWPORT NATIONAL BANK
COLUMBUS NB OF RHODE ISLAND
INDUSTRIAL NAT BK OF RI
R I HOSPITAL TRUST NAT BANK
LOCATION
NEWPORT
PROVIDENCE
PROVIDENCE
PROVIDENCE
111
TDEP
121
VLTCSH
40016
0
1316
12382
14352
RI
RI
118843
RI
RI
1497099
864516
131
1977
REQBAL
2B33
3785
63671
30674
141
NEW
EPA
151
NEW
REQBAL
161
DIF
131-151
1376
2596
5100
5297
0
51>7
51913
23924
2833
3218
11758
6750
•
.;
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
OF
4 BANKS AFFECTED IN STATE
0
1
------------------5450190
5450210
5450305
5450325
5450360
5450420
545~510
5450650
54506~ 0
5450110
5451060
5451160
5451260
OF
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
CITIZENS & SOUTHERN NB CF SCCHARLESTCN
SOUTH CAROLINA NATIONAL BANKCHARLESTON
FIRST NATIONAL BANK OF S C CDLU~BIA
REPUBLIC NUIGNAL BANK
CCLU~BIA
CON...,AV NATIO'IAL BA'NK
CONWAY
CAROLINA NAT BK OF EASLEY
EASI.EY
GUARArlTY BANK ANO TRUST CO FLORENCE
SANK OF HARTSVILLE
HARTSVILLE
FIRST C4ROLINA NATIONAL BANKHARTSVILLE
FIRST NAT BANK Of HOLLY HILLHDLLY Hill
FIRST NAT BK IN ORANGEBURG ORANGEBURG
ROCK Hill NAT BA!IK
ROCK HILL
NATIONAL BANK OF SC
SUMTER
13 BANKS AFFECTED IN STATE
4
6
SC.
SC
SC
SC
·SC
SC
SC
SC
SC
SC
SC
SC
SC
ABERDEEN NATJCNAL SANK
FARMERS t HRCH BK & TR CD
FIRST NATL BK Of ABERDEEN
STATE SK OF ALCESTER
CITIZENS STATE BANK
BA:-,K OF BELLE FOuqcHE
FIRST NB OF BERESFORD
FIRST NB IN BROOKINGS
CITIZENS STATE BA~'DEUEL CO NB OF CLEAR LAKE
FAR~ER S STATE B.ANK
FIRST 118 OF FREEMAfl
FAR,~ERS ANO MERCHANTS BANK
607562
911544
542310
20769
43951
37359
51427
21303
36564
24639
69442
43821
117105
18978
29378
14202
134
882
1213
1066
621
796
638
1443
846
2937
29098
40615
26781
780
1724
921
1809
635
1398
615
2333
1602
4621
5269
5120
5166
0
475
0
555
0
5
0
946
236
2826
13680
19552
12823
0
0
0
0
0
0
0
0
0
0
15U8
21063
13958
780
1724
921
1809
635
1398
615
2333
1602
4621
••
••
••
••
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUR,EO RESERVE BALANCE
----------------------------9460010
9460015
9460020
94b0030
94b00SO
9460110
94e0130
9460190
9460310
94603JO
9460540
9460STO
'1460740
------------
---------------
--------------
---------------------ABERDEEN
ASE~DEEN
ABERDEEN
ALCESTER
ARLINGTON
BELLE FCURCHE
BERESFORD
BROOKINGS
CLA.RK
CLE AR LAKE
FLANDREAU
FREEHAN
HURON
so
SD
SD
SD
so
SD
SD
SD
so
so
SD
SD
SD
84080
33433
20B997
20715
13437
37937
17402
53935
15873
19521
22703
14656
51263
461
256
1806
58
71
217
84
391
21'1
56
3053
979
7521
763
443
1315
64D
1986
40'1
714
10
811
HI
385
1762
406
1238
--------0
37
0
3915
52
0
642
58
0
402
0
59
71
0
188
0
0
0
0
0
D
0
0
0
0
3053
979
6819
763
443
1315
640
1986
40'1
714
871
385
1762
•
•
••
•
•••
•
••
....
....
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BANKS
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
111
DSB
NAME
9460840
'1460850
9'60930
9460'>'>0
9461000
9461010
9461020
946II:0
9461140
9461150
946\ 190
94bl240
cg~l2:30
9461290
9461300
9461321
946I3Z3
~46132 5
9461330
9461540
q46l560
9461625
q46!650
q461655
OF
TDEP
LOCATION
BANK OF LEMMON
LEMMON
LEMMON
FIRST N8 IN LEH~ON
FIRST NB OF MILLER
HILLER
HILLER
~>ND COUNTY STATE BANK
cc~•ERC IAL TRUST ' SVGS BANKH ITC HELL
FlilST MITCHELL NAT BANK
MITCHELL
HOBR IDGE
CITIZENS B~ CF SOBRIDGE
FIRST NB IN PHILIP
PHILIP
Fl~ST NB IN PIERRE
PIERRE
PIES RE
PIERRE NATION•L BANK
FI ~ST NB OF THE BLACK HILLS RAPID CITY
.,ccaOK cou•HY NATIONAL BANK SALEH
Fl~ST NB IN SIOUX FALLS
SIOUX FALLS
NATIONAL BANK CF S D
SIOUX FALLS
NW NAT BK OF SI aux FALLS
S IO~X FALLS
UN ITEO NATIONAL BANK
SIOUX FALLS
VALLEY NATIONAL BANK
SIOUX FALLS
SIOUX FALLS
•ESTERN STATE BANK
il09ERTS CTY NB OF SISSETON
SISSETON
FIRST NAT BK OF WATERTOWN
WATERTOWN
SECURITY BANK ANO TRUST CO WEBSTER
~ANCHERS NATIONAL BANK
WINNER
FIRST DAKOTA NATl BK
YANKTON
VALLEY STATE BAN~
YANKTON
37 BANKS AFFECTED IN STATE
10
23
so
SD
SD
SD
so
SD
SD
SD
SD
SD
SD
SD
so
SD
SD
SD
SD
SD
SD
SD
SD
SD
SD
SD
21283
27119
24072
13569
53417
56640
18882
21373
32507
39502
224811
14234
111715
405518
280927
122929
39000
59856
20052
51728
20047
17866
31214
16594
1/17/79
121
YL TCSH
75
56
Ill
32
481
465
97
103
257
408
2187
10
1836
3575
2256
1174
415
765
127
526
117
52
206
174
131
1977
REQBAL
801
1037
BOO
461
1593
1901
604
790
1081
1489
8977
498
4253
15871
11047
4437
1246
1557
724
1620
660
611
1168
450
141
NEW
EPA
48
141
91
0
140
381
10
12
42
87
4780
0
2290
4810
4759
2343
0
Ill
0
275
0
20
142
0
C ITllENS NAT BANK OF ATHENS ATHENS
FIRST NB & TC ATHENS TN
ATHENS
FIRST NAT BK OF CENTERVILLE CENTERVILLE
ASER !CAN NAT BANK AND TR CO CHATTANOOGA
CO. . ERCE UN BK CHATTANOOGA CHATTANOOGA
FIRST TN BANK NA CHATTANOOGACHATTANOOGA
FIRST NAT BK OF CLARKSVILLE CLARKSVILLE
Cl EVELAND NAT I O~AL BANK
CLEVELAND
HAMILTON FIRST NAT BANK
CLINTGN
FIRST FAR•ERS & MERCHANTS NBCOLUMBIA
FIRST TN BANK NA CCOKEVILLE COOKEVILLE
FIRST ND OF POLK CTY
COP?ERHILL
FIRST NAT BK OF CROSSVILLE CRUSSVILLE
FIRST NB OF FRANKLIN CTY
DECHERD
161
DIF
I 31-151
0
0
0
0
0
D
0
0
0
0
1129
0
0
6653
2721
0
0
0
0
0
0
0
0
0
801
1037
BOO
461
1593
1901
604
790
1081
H89
7848
498
4253
9218
8326
4H7
1246
1557
724
1620
660
611
1168
450
.••
••
•
•••
•
••
••
•
•••
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAYE ND REQURED RESERVE BALANCE
--------------
---------------------------------------6470070
6470090
6470340
6470360
64703i5
6470388
64704?0
6470470
M70495
6470535
6470560
6470570
6470640
6470700
151
NEW
REQBAL
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
20149
36037
24274
442077
45360
270396
76599
531H
30427
64018
67723
27098
48521
19915
265
909
319
8049
322
9201
1545
1276
673
1312
1037
350
480
722
643
809
744
15485
1775
7265
2442
1595
812
1961
1870
666
1767
239
0
0
0
0
643
809
0
0
H4
5241
635
3088
1244
439
0
850
955
0
636
0
6464
0
0
0
0
0
0
0
0
0
0
9021
1775
7265
2H2
1595
B12
1961
1870
666
1767
239
••
•
•
••
•
•
.-.1
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY HOOi FIED H.R. 1
MEMBER BANKS
DSB
6470710
8470810
6470910
6470950
6470987
641oq90
6471025
6471090
8471205
84 "fl 26 0
8~71270
8"-71280
6471310
6471350
6471400
64 71405
64714qQ
6471510
6471520
6471530
6471535
6471540
6471543
64715&0
6471570
'347\6J0
6471635
6471570
6 ➔ 71730
6471760
6471Sl0
8471049
8471852
84716&0
8471870
84718!37
B471aqo
6472320
6472::>37
6t.72J]q
6472030
64720S5
6472'.)37
6472100
6472102
6472125
NAME
111
TDEP
LOCATION
FIRST NAT BANK OF DICKSON
DICKSON
FIR ST CITIZENS NAT I ONAL BANKOYERSBURG
FAYETTEVILLE
UNION NB OF FAYETTEVILLE
FRANKL! N
HARPETH NB OF FRANKLIN
C,"·"RC UNI ON BK OF SUMNER CTYGALLATIN
FIRST & PPLS NO Of GALLATIN GALLATIN
GATLINBURG
Fl~ST NAT BK OF GATLINBURG
GRErnEVILLE
FIRST NB OF GREENEVILLE
FIRST NAT BK OF GIBSON CTY HU~BOLOT
JACKSON
FIP.ST NAT BK OF JACKSO~
JACKSON
N3 OF COMSERCE Of JACKSON
JACKSON
SECOND NB Of JACKSON
f IR ST ~B Of JEFFERSON CITY
JEFFERSON CITY
JOINS ON CITY
i10J.'HAIN E."tPIRE BANK
FIRST NH BK OF ·SULLIVAN CTYKINGSPORT
1ST TN'BK NA KNGSPRT/BRISTOLKINGSPORT
KNOXVILLE
PARK NAT BANK OF KNOXVILLE
FI•sT NAT BK Of LA FOLLETTE LA FOLLETTE
LA FCLLETTE
PEOPLES NB Of LA FOLLETTE
CY & CTY 8~ OF ANDERSON CTY LAKE CI TY
C~MRC UN BK OF LAHR ENCE CTY LAHR ENCE BURG
LAWRENCEBURG
F-lRST N6 OF LAWRENCEBURG
LAWRENCE COUNTY BANK
LAWRENCEBURG
LENO IR C ITV
FIRST NB Of LOUDON CTY
LEWISBURG
FIRST NAT BK OF LEWISBURG
LEXI NG TON
FIRST NB OF LEXINGTON
FIRST NATIONAL BANK
LIVINGSTON
!ST HRTG BK Of LOUDON CTY NALCUDON
FIRST NAT BK Of MCMINNVILLE MCHINNVILLE
HANC HESTER
FIRST NAT BK OF MANCHESTER
MARYVILLE
BLOU'H NATIONAL BANK
MF.MPH IS
CITY NATIO"Ul BANK.
CC"1'tERCE UNIOtl BK OF HEHPHISM£;'1PHJS
~EMPHI S
FJP.ST TN BK NA HE"1PH(S
NATIONAL ~ANK OF COS,SERCE
ME,"PHIS
MrnPHIS
U"UTEO A"t BK IN MEMPHIS
UNl'J~ PLANTERS NATIONAL BANKMEMPHIS
FIRST eK OF MT PLEASAtlT
MGU•IT PLEASANT
C'o!'-11:tC UN BK OF RUTHf.RFD CTY Ml.lRFREESBORO
f IRS T TN BK NA MU:{FREES80RO MURFREESBORO
•tl.\SHVILLE
CC'1'iERCE U:'fl ON BANK
FIRST A.'1ERICAN NA.l lONAL BANKNASJIVlLLE
f IRS T Ttr·mESSEE BK NA ~St-tVLE~ASHVlLLE
NASHVILLE
T11IRD NA.T BK IN NASHVILLE
UNITED AMER SK Of NASHVILLE NASHVILLE
NEWPORT
NATIONAL BANK OF NEWPORT
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
lN
TN
TN
TN
TN
TN
TN
34221
75920
51114
bl097
38459
27162
22926
46639
15837
94365
80150
81 Bl 7
22709
18769
178781
45816
35565B
192 86
22617
45646
31887
38535
16385
3bb96
33184
30136
23302
25181
52454
21218
81864
27804
61539
1047210
464680
8237 2
737562
19971
60155
23970
882383
970303
31354
869676
101831
26561
1/17/19
121
VLTCSH
494
13B2
737
719
460
984
1152
1099
409
2400
153b
1249
942
380
8111
2210
5810
313
378
681
287
4%
254
562
728
338
309
269
747
409
1661
448
216
39979
8343
975
19 I 58
493
1042
498
9779
18790
540
9165
898
b03
131
1971
REQBAL
141
NEW
EPA
1008
25b2
1494
2224
1094
193
0
1379
257
2220
2143
2580
30
456
2040
736
13273
444
622
1046
958
0
1247
317
1175
1165
150
0
344
Obi
678
1079
634
632
1675
529
2241
679
2757
20279
16581
3108
26420
387
1324
524
34080
37927
839
39801
3714
630
155
0
0
102
0
1031
1044
1513
0
0
0
0
5394
0
0
180
199
42
0
0
0
75
675
0
1008
0
1755
5226
5490
1693
5334
0
I 71
0
5249
5386
29
5397
2231
0
151
NEW
REQBAL
lbl
DIF
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5727
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1008
2562
1494
2224
1094
193
0
1379
257
2220
2143
2580
30
456
2040
736
7546
444
622
1046
958
5806
8831
0
14390
0
0
0
24373
25605
0
28321
67
0
1165
344
861
678
1079
634
632
1675
529
2241
679
2757
144 73
7750
3108
12030
387
1324
524
10307
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Federal Reserve Bank of St. Louis
MEMBER BA~KS
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BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
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FIRST NAT BANK IN ARLINGTON
FIRST NAT BA"IX OF ATHENS
ATLA"IU NATIONAL BANK
AMERICAN "IAT BANK OF AUSTIN
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Federal Reserve Bank of St. Louis
Ill
OSB
l / 11/19
BENEFIT TO BANKS COVERED BV HOOIFIEO H.R. 1
HEMBER BANKS
NAME
TDEP
LOCATION
ll4e0515 CITIZENS NATIONAL BK AND TR BAYTOWN
l 1 1+8053 0 A.• ER I CAN NAT BK OF BE AU MONT BEAU"ONT
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11480570 COMSERCIAL NB OF BEEVILLE
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BELLAIRE
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ll4fl05q5 FIRST ST ATE BK OF BELLAIRE
BELLAIRE
ll"td0620 FJPST NAT i3ANK OF BELLVILLE BELLVILLE
l l 4'30640 PEUPLES NAT BANK Of BELTCN BEL 1 ON
114,90690 FIRST NAT BK IN 81G SPRING
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ll4907iJ0 SHTE NAT BK OF BIG SPRING BIG SPRING
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BRADY
114.308'>0 BRADY NA TlONAL BANK
11480860 C0,"1MERC I Al NAT BANK OF BRADY8RADY
114[;0'3?5 CITIZENS NA.TIOtJAL BANK
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BRENHAM
11480900 THE BREf\lHA.'1 NATIONAL BANK
BRENHAM
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BROW NF I ELO
11430910 FIRST NAT BK OF BROWNFIELD
114909~0 FIRST NAT BK AT BRO~NSVILLE BRDWNSV ILLE
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ll4Sl0l0 CITIZENS NAT BK AT BRCWNWOOOBROWNWOOO
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ll481030 CITY NAT BANK OF BRYAN
ll4ql040 FIRST NAT BANK OF BRYAN
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Federal Reserve Bank of St. Louis
ME~SER BANKS
Ill
DSB
1111/19
BENEFIT TO BANKS COVERED BY HODIFIEO H.R. 7
NA"'E
LOCH ION
TOEP
I 21
VL TCSH
131
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Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
MEMBER BANKS
DSB
11482564
11482565
114~2570
11482620
ll4A2635
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C'JNTINEflTAL NB Of FT WORTH FOR.T WORTH
FIRST NAT BK OF FORT WORTH FORT WORTH
FORT WORTH
FORT WORTH BA:~K G TRUST
FORT WORTH
FORT WORTH NATIONAL BANK
FORT WORTH
GATEWAY NAT IONAl BANK
FORT WORTH
SU"1"1IT NAT:ONAL BANK
FPEOERICKSBURG NATIONAL SANKFREDER I CK SSURG
FIRST FREEPORT NATIONAL BANKFREEPORT
GAINESVLE NB IN GAINESVLE
GAitaESVILLE
GALVESTON
BANK CF GALVESTON NA
FIRST HUTCHINGS SEALY NAT SKGILVESTGN
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114~3130 F JRST tlAT BK IN GEORGE WEST GEO,GE WEST
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11483150 FIRST NAT BANK OF GIDDINGS
11483160 FAqMERS ANO MERCHANTS NAT BKGILMER
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11483220 FIRST NAT SK OF GONZALES
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HENDERSON
11;93650 CITIZENS NB OF HENDERSON
131
1977
REQBAL
141
NEW
EPA
151
NEW
REQBAL
161
DIF
131-151
521
2984
4382
H4
283
496
2831
17844
1337
956
0
0
10346
0
0
214
214
710
1049
0
D
1408
5688
13
0
0
496
2831
7498
1337
956
710
111
TDEP
121
VL TCSH
TX
TX
TX
TX
TX
22498
113599
394806
349ll
25851
TX
19769
24354
22402
22976
59056
331425
738793
47626
89622 7
29625
22369
36348
49845
31101
21330
ll5110
59992
103135
2B458
87570
20663
17546
2812 7
18631
20246
25426
29429
36450
21851
26343
22654
44001
34041
15252
22483
19477
87077
60598
45733
23728
61736
LOCATION
NORTHGATE NATIONAL BANK
FIRST CITY ND OF EL PASO
STATE NAT BK OF EL PASO
CITIZENS NAT BANK IN ENNIS
FIRST NAT I CNAL BMIK
1ST CITY Na OF FLORESVILLE
FISST NAT BK OF FLOYDADA
FORT HODO NATIONAL BINK
FIRST NJ\ Tl ONAL 81,l'H{
1/17/19
TX
TX
TX
TX
TX
TX.
TX
TX
TX
·rx
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
lH8
252
675
2545
5952
940
9530
330
259
320
612
427
379
1088
917
654
627
1204
223
104
241
264
401
254
234
221
146
370
373
528
-55b
90
149
112
1429
830
469
247
48'3
110
2439
14996
38949
1643
50B42
1176
711
1284
1994
1030
667
5123
2328
4792
477
4093
750
695
999
681
589
1015
1230
1664
989
865
799
1469
1231
524
772
826
3746
2145
1771
1030
2895
0
0
12
899
0
0
0
0
0
5403
5553
260
7259
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5461
35939
0
0
D
757
0
0
0
0
0
0
0
0
0
0
3351
891
3164
0
21 73
0
0
0
0
D
0
24
395
0
0
0
H4
46
0
0
0
429
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
194b
739
424
0
0
1429
0
0
0
0
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0
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2439
7737
11290
1643
14903
1176
717
12b4
1994
1030
667
5123
2328
4363
477
4093
750
695
999
681
589
1015
1230
l6b4
989
865
799
1469
1231
524
772
826
374b
21'5
1771
1030
2895
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Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY ~ODIFIED H.R. 7
ME'18ER BANKS
Ill
DSB
ll't31660
ll4836!30
l l.._P. 3 78 d
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11484540
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LOCATION
F1qsr NAT SANK OF HENDERSON HENDERSON
F 1 R ST NAT SAt,K OF HEREFORD HE:F,EFORO
8!\NK CF HOUSTON
HCUS TON
9A"lK CF THE SOUTHWEST NA
HOUSTON
Cr:rHq;AL NATIONAL BANK
HOUSTON
CAPITAL NATIONAL BANK
t10US TON
FIRS! CITY NB OF HOUS.TO~
HOUSTON
GU.).q,i\NTY N..\TlONAL 8..\NK
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HCUS Tll~l ~IATIONAL BANK
HOUSTON
LCCK~OO~ NATIONAL SANK
Hf.US TON
HCUS TON
LG~G POINT NB OF l'iOUS TON
\lt\CGREGOR PARK NATIONAL 6A'IIKI-WUSTON
~ATJONAL STANDARD BANK
HOUS ION
PLAZA COl•P4EPCE BANK ,r~A
HUUS TON
REPU9LlC NAT lot~AL BJ\NK
HOUSTON
SA,~ FELIPE NATIO:-UL BANK
HOUSTON
SOVTl-iERN NA.T BA~4K
HO,USTON
TEXAS CO\lMERCE BANK NA
HOUSTON
VILLAGE ru TI GNAL BANK
HOUSTON
HOUSTON
rlES T LOOP NATIO,'Ul BANK
WESTOURY NATIONAL BANK
HOUSTON
HUM!lLE
A~E~ICA~ NATIONAL BAtJK
FIRST NAT BK OF HUNTSVILLE HUNTSVILLE
HU~TSVILLE NATIONAL BANK
HUNTSVILLE
FIR ST NATIONAL BA~lK
HURST
ft~ST ~rn OF JACKS □ nvJLLE
JACKSONVILLE
FIRST NAT l ONAL DANK
JASPER
FIR.$ T tlAT BK OF JEFFERSON
JEFFERSON
KATY NATlmML OANK
KATY
FlR~ERS AND MERCHANTS NAT BKKAUFMAN
F l'~S T NAT BANK OF <ERRVILLE KE~RVILLE
KILGORE FIRST NATIONAL SANK KI l GORE
FIRST N,\TIONAl. BANK
KILLEEN
HIG•tLANO LAKES NAT BANK
KINGSLAND
KU:.aERG FIRST NA.TlONAL BANK KINGSVILLE
MERCANTILE NB OF KINGSVILLE KINGSVILLE
FIRST NATIONAL BANK
LA GRANGE
FIR ST NA! IONAL B~NK
LAKE JACKSON
FIR ST NAT BANK OF LAMESA
l AMES A
L A~ESA NATIONAL BANK
LAMESA
FIRST NAT BANK OF LAMPASAS
LAMPASAS
LAMPASAS
PEOPLES NAT BK OF, LA~PASAS
LANCASTER
FIRST NAT BK OF LANCASTER
BA YSHORE NAT BK CF LA PORTE LA PORTE
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
35414
45964
46251
1019827
25794
340793
2607908
38836
18745
36 5442
511678
83714
53318
58660
2637 2
26848
72246
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231430
2082478
20830
21631
25819
18981
54817
33851
81058
28b34
23032
19938
27357
22789
62059
44509
73439
1111/19
121
VL ICSH
366
SIB
369
7715
372
2010
14377
961
375
2842
2268
813
124
1272
244
313
596
422
1420
924l
311
321
462
203
773
1016
959
520
390
185
418
356
821
404
20219
2786
152
670
490
192
288
48684
53030
22720
16969
32904
23370
314
330
195
391
357
610
37887
4 7693
25995
22033
131
1911
10
NEW
REQBAL
EPA
1546
196
536
645
5408
1922
2052
51598
1018
16581
162181
1079
438
18013
31585
3375
2392
2146
1046
1302
3223
1290
11953
H4045
664
952
884
679
2183
600
1093
1014
951
121
945
762
2304
2226
1424
1317
2116
662
806
683
2284
2762
893
432
1056
121
0
5298
ss8o
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0
5626
5563
1437
950
846
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0
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Federal Reserve Bank of St. Louis
MEMBER BANKS
111
DSB
11484573
11494580
114845'10
114~4640
114$4655
11494680
11484740
11484180
11484910
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11495828
11485860
1/17/79
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NAME
CITY NAT BANK OF LAREDO
LAREDO NATIONAL BANK
UNION NAT BANK OF LAREDO
FIPST NAT BANK OF lEV'EllA~O
LEWISVILLE NATIONAL BANK
FIRST LIBERTY NATIONAL BANK
LAREDO
LAREOO
LAREDO
LEVELLANO
LEWISVILLE
LIBERTY
FIRST NAT 8K OF l.IVJNGSTON LIVINGSTON
FIRST LOCKHART NATIONAL BANKLOCKHART
FI~ST NAT BANK Of LONGVIEW
LONGVIEW
LONGVIEW NATIONAL BANK
LONGVIEW
FIRST NAT BA~K AT LUBBOCK
LUBBOCK
LUBSQCI( NATIONAL BM,K
LUBBOCK
PLAH~S NAT BANK OF LUBBOCK
lUBBCCK
SECUS ITY NAT BANK OF lUBBOCKLUBSOCK
TEXAS t □ ~MERCE BANK NA
LUBBOCK
LUFKIN UATIONAL BM,K
LUFKIN
FIRST NAT BANK OF MC ALLEN MC ALLEN
VALLEY NAllONAL BANK
MCALLE~
C~NTRAL UAf SK OF HC KINNEY MC KINNEY
COLLIN COUNTY NATIONAL BANK MC KINNEY
FIRST NAT BK CF MAOISONVILLEMAOISONVILLE
MAQ.l IN NAT 1C:t4AL BANK
HARLIN
f IRST NAT BANK OF MARSHALL MARSHALL
MARSHALL
~AR S~ALL NAT I OMAL BANK
~Asa~, NATIONlL BANK
r IR ST NAT 8ANK. Of MEM?Hl S
f-lRST NAT sa~,K OF MERCEDES
HASGN
MH\PHJS
MESCEOES
FIRST NAT BANK OF ~ESQlJlTE MESQUITE
FIPSf N,\T BANK Of HlOLA~rn
Ml OLANO
lHE MlOlANO NAllOUAL BANK
•IDLANO
CllY NAT BK OF '11NERAl WELLSMIN(~Al WELLS
flPST N~ IN MINERAL WELLS
MH,ERAL WELLS
FIRST NAT BANK OF MISSION
MISSION
F 1 RS T NAT BANK. Of KO!s!AHANS
TOE~
LOCUION
MO"IAHA:,65
FIRST N3 IN HOU.'H PlEl'lSANT MGWH PLEASANT
C0.'1"1ERCI AL NB IN NACOGOOCHEs,uc □ GOOCHES
Sf O'lE FORT t~9 OF tUCOGOOCHESNJ\CCGOOCHES
NASSAU B,\Y NATIGN~L 9A'I<
NASSAU BAY
FIRST N!.-1 OF NEI..( C!Q.J. 1J"JFELS
SEW SRAU~FELS
:--,1::w 8.Cl,AU~JFELS tMTllJ"-UL 8ANK NEW BRAUNFELS
FAR.'<f~RS ANO ~ERCHANTS NAT 8Kf\CCONA
N'..)RTHEAST r1s OF FORT nORTH N RICHLAND HILLS
flRST NAT 8K OF OJESSA
COtSSA
NA.TIO~Al BANK OF ODESSA.
ODESSA
STATE N.!.TIQNAL BANK
ODESSA
OLTON STATE SAW<.
OLTON
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
18335
258567
87635
31426
24707
30838
28246
219H
72188
89519
316760
2 78669
73339
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145868
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110338
17937
25668
42970
25442
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56140
18077
21053
14317
25639
424 70b
188855
31736
36626
34187
22659
57135
39764
66903
44882
37551
13604
21680
64 726
109173
53609
61647
21174
121
YL TCSH
396
H75
1056
H4
378
402
325
177
1403
877
2893
2552
677
434
1109
944
2150
161
286
704
134
290
856
785
287
167
249
782
2289
1005
346
356
558
278
533
468
965
554
360
111
98
613
1605
1764
766
90
131
1977
REQBAL
141
NEW
EPA
468
10069
3038
1080
649
1259
1011
840
2884
4264
11845
12092
3488
772
7507
4007
0
4887
1651
0
0
3833
2198
690
991
0
0
273
19
0
1378
1084
737
2199
21H
546
779
343
413
26454
10703
1189
1589
1107
782
2129
1498
2135
2417
1874
408
15
0
0
1229
2780
4727
5472
1918
0
5080
2587
736
641
0
0
0
0
161
Dlf
131-151
0
2154
0
0
0
0
0
0
0
0
3112
4647
0
0
468
7915
3038
1080
649
1259
1011
840
2884
4264
8733
7445
3488
772
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6016
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0
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0
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0
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4007
3833
690
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0
5260
5306
15429
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0
203
0
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0
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0
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565
298
909
999
2627
5895
1197
510
0
0
1036
4102
0
3548
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0
811
151
NEW
RECBAL
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0
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0
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991
1378
1084
737
2199
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546
779
343
473
11025
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Federal Reserve Bank of St. Louis
ME~BER B°'KS
DSB
11485875
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1148 59 30
l I'•85990
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11486050
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11487026
1/17/79
BENEFIT TO BANKS COVEREO BY MODIFIED H.R. 7
NAME
LOCATION
COUNTY NA Tl ONAL BANK
ORANGE
FIRST CITY NAT BK OF ORANGE ORANGE
OZONA NATIO~AL BANK
OZONA
EAST TEXAS NB OF •ALESTINE
•ALESTINE
ROYALL NAT Bl(. OF PALESTINE
PALESTINE
FIRST NAT BANK IN PAMPA
PAMPA
FIRST NAT SANK OF PARIS
PARIS
LIBERTY NAT BANK IN PARIS
PARIS
PASADENA NATIONAL BANK
PASADENA
FIRST NAT BANK OF PECOS
PECOS
SECUSITY STATE BK OF PECOS
PECOS
FIRST NAT BANK OF PERRYTON HRRYTON
PITTSBURG NATIONAL BANK
Pl TTSBURG
CITY NAT 8!\NK Of PLAINVIEW PLAINVIEW
FIRST NATIONAL BANK
PLAINVIEW
FIRST NAT BANK OF PLANO
PLANO
FI R'lT N8 P~ PLEAS.ANTON
PLEA SANT ON
FIRST NAT BK OF PORT ARTHUR PORT ARTHUR
Fl~)T NAT 6K IN PORT LAVACA PORT LAVACA
FIRST NAT 8)( Of PORT NECHES PORT NECHES
FIR 5 T NATIONAL 8A~K OF POST POST
FIRST NAT BANK OF QUITMAN
CUIT:1AN
FIRST NAT BA~K OF REFUGIO
REFUGIO
FIRST N3 QS:: RICHARDSON
R ICHAROSON
PRO~ENAOE NATIO~AL BANK
RICHARDSON
FIRST NS OF RICHMOND
RI CH MONO
STA TE ~AT BANi<. OF ROBSTO~N
ROBS TOWN
FIRST NAT BANK OF Rf1CKPGRT ROCKPORT
FIRST NAT SANK OF ROSE~BERG ROSENBERG
CE"HRAL NB OF SAN AllGELO
SAN ANGELO
FIRST NAT BANK OF SAN ANGELOSAN ANGELO
SAN ANGELO NB OF SA~ A~GELO SAN ANGELO
SES T SIDE NATIONAL BANK
SAN "GELO
Al A."\O NATIONAL &~NK.
SAN ANTONIO
:3E XAR CTY N9 OF SA~ ANTONIO SAIi ANTONIO
BROADWAY NAT ICNAL SA.r~K
SAN ANTONIO
BROOKS FLO NB OF S" A~TONIOSAN ANTONIO
CITIZENS NB CF SAIi ANTONIO
S>N ANTONIO
F IP.ST NA.T 8K OF SAN ANTONIO SAN ANTONIO
FROST N4T BK OF SAN A~Tmno SAN ANION 10
Gq_oos NA r BK OF SAN ANTONIO Sl\tl ANTONIO
KELLY FLO NB Of SAN AN TON IC SAN ANTONIO
~IIN BINK ANO TRUST
SAN ANTONIO
N~ OF CCMMRCE CF SAN ,\NTONIOSAN ANTONIO
rm OF FORT SAM HOUSTON
SAN ANTONIO
SECURITY NATIONAL SANK
SAN ANTONIO
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
-TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
H
TX
TX
TX
TX
TX
TX
TX
TX
II l
TDEP
121
VLTCSH
25756
41301
31033
25991
24510
54898
36555
39527
55574
24351
29735
34853
17375
47401
25493
31877
20136
119652
27099
37215
24274
23946
24 750
20743
22345
19913
32119
23789
23045
125766
59883
128297
550
670
124
435
429
623
455
515
572
282
359
261
232
311
169
492
239
1029
308
722
136
I 78
261
339
424
505
265
284
282
2257
1022
1382
480
3081
1058
2156
699
1167
556
10085
444
359
470
4862
850
290
2136 7
269891
140496
132467
5 3005
33138
77886
734293
25981
43293
59841
515184
126412
21142
13)
1977
REQBAL
718
2016
1442
1080
1049
3009
1453
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318
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Federal Reserve Bank of St. Louis
NAME
OSB
114~71)40
11487060
11487130
11487140
11487250
114~7350
I 14eB55
ll4e7375
114:17380
11487430
l 1487450
1148 7510
11487630
11487635
11497640
11487645
11487~90
11457710
11437120
114e7738
11 1t87740
11487750
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11487790
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BA~K
l14882Jll
ll4P~2l0
11488260
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TULIA
lYLER
TYLER
TYLER
PEOPL~S NAT BANK CF TYLER
TYLER BANK t TRUST CO
TYLER
RAN)OLPH FIELD NAT 8~
UNIVERSAL CITY
H!:RQ.ING r.lAT BANK OF VERNON VERNON
VERNON
WAGGONEP. NA.T BK OF VERNOtl
f IR ST VICTORIA NATIO'Ul BANKVICTORIA
VlCTDRI A
VICTORIA BK & TR CO
WACO
CIT! ZENS NAT BANK OF WACO
F lR ST tH1.TIONA.l BANK OF WACO WACO
l4.KE AIR NATIONAL BANK
WACO
WACO
TEXAS NAT BANK OF WACO
WACO
'1ESTV1E" rUTIONAL BA~,IK
WAXAHACHIE
ClTllENS NB IN WAXAHACHIE
WEATHERFORD
CITIZENS NB Of WEATHERFORD
FIRST Ng OF WE ATHERFORD
WEATHERFORD
•10.(H [. FR~ ST eK OF WTHRFRO WEATHERFORD
WELLINGTON
WELLINGTON STATE BA:JK.
11497950 CITIZENS FIRST NAT .BK
11497955 HE~lTAGE NATIONAL BANK
l14~7973
ll'•!:~070
11488010
114880:38
ll4'38090
11498110
llt.88120
l l4'l8 l2 5
ll4SdtJO
llt.E8l35
l l',!?-3170
ll458t90
SNYDER
SONORA
flRST UAT BANK OF SOtlORA
fAR.MERS FIRST NATIONAL BANK STEPHENVILLE
Cl TY NB OF SULPHUR SPRINGS SULPHUR SPRINGS
SULPHUR SPRINGS
PEOPLES NB Of SULPMUR SPGS
SULPHUR SPRINGS STATE BANK
SULPHUR SPRINGS
FIRST NAT BK
SWEETWATER
TAHQKA
f I rt ST NAT BANK OF TAHOKA
CITY ~~AT!O.\/AL BANK Of T AYLORT ML OR
FIRST TAYLOR NAT lONAL BANK TAYLOR
TEMPLE
CITIZENS NB OF TEMPLE
TEl~PLE
FIRST NAT BANK OF TE.'"1PLE
TE,'1?LE NATlO'ML BA~K
TEMPLE
AM.E.~ICAN NAT BA'lK OF TERRELLTERRELL
TEXARKANA
TEX,\RKAN.\ NATIONAL BANK
TEXAS CITY
TEXAS CITY N~TlGNAL SANK
114877"10
ll<+e7B50 GUAqANTY BOND ST ATE BANK
1149 792 0 FIR ST rlAT SANK OF TULIA
ll4~l<il60
11487970
11 I
TOEP
LOCATION
SAN ANTONIO
WINDSOR PARK BANK NA
F !RST NB OF SAN AUGUSTINE
SAN AUGUST! NE
SAN MARCOS
F 1 RST NB OF SAN MARCOS
ST ATE BANK ._O TRUST CO~PANYSAN MARCOS
F 1 R ST NAT BANK IN SEGUIN
SEGUIN
SHERMAN
MERCHANTS .\NO PLANTERS NB
SllER.''IAN
TE XQ'1A ~A Tl GNAL BANK
F lR ST NAT BK OF SILSBEE
SILSBEE
SILSBEE STATE BANK
SILSBEE
SNYDER
1/17/79
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
MEMBER BANKS
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
41541
17219
2849 l
34093
2b919
79862
19989
18320
26361
43415
23159
43170
26073
18874
40245
33316
29770
25380
4243 l
18452
59848
74075
58189
98800
37513
39622
44644
130287
31933
151522
103407
20612
33614
53586
152801
2 51340
l 9415 7
l4bl09
36154
42573
30692
28586
27265
361Tb
47079
21109
I ZI
VL TCSH
1314
208
354
450
5b5
1001
442
541
421
319
l 77
603
242
236
460
379
180
161
419
581
67b
1208
058
14b2
1245
404
207
1225
703
1392
2195
361
419
340
1010
2157
2300
2141
476
492
Jq4
432
253
369
433
139
131
1977
REQBAL
848
444
1028
1137
6b1
3179
515
275
955
2572
1123
1628
1085
551
2010
1085
1347
1083
1624
207
2534
2875
2199
3413
79b
1538
1837
7337
1029
7701
3616
053
ll 74
2258
9570
15801
9219
5344
1018
l 793
1209
942
978
1351
l 735
889
141
NEW
EPA
0
0
0
0
0
1669
0
0
0
1077
0
411
0
0
566
0
39
0
133
0
913
1335
522
1979
0
191
435
5400
0
5413
2099
0
0
684
5188
5209
5b 74
3647
307
586
0
0
0
0
336
0
151
NEW
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0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
479
0
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2001
694b
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OIF
131-151
848
444
1028
1137
6b1
3179
515
275
955
2572
1123
1028
1085
551
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1085
1347
1083
1624
267
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2875
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796
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Federal Reserve Bank of St. Louis
BENEFIT TD BANKS COVERED BY MODIFIED H.R. 7
~E~BER BANKS
NAME
DSB
11488280
1141)8370
11498400
l 1:11J!:1410
1 ll•91J419
FIRST NAT BANK OF WESLACO
SEC UR ITV NB OF WHITESBORO
CITY NB IN WICHITA FALLS
FIRST-WICHITA NAT[Q,iAL BANK
SOUTHWEST NB OF WICHITA FLS
114,~84'10 FIRST NAT BK OF WINrJSBORO
11486590 YOAKUM NATIONAL BANK
OF
111
TDEP
LCCATIDN
WESLACO
WHITESBORO
WICHITA FALLS
WICHITA FALLS
WICHITA FALLS
WINNSBORO
YOAKUM
355 BArlKS AFFECTED IN STATE
168
142
37279
17663
173546
222201
21621
21448
27010
TX
TX
TX
TX
TX
TX
TX
1/17179
121
YL TCSH
665
140
2424
4026
309
346
324
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141
NEW
EPA
151
~EW
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161
Dlf
131-151
998
675
8024
8865
743
620
952
0
0
5461
5255
0
0
0
0
0
636
1052
0
0
0
675
7388
7813
743
620
952
131
IH7
998
••
•
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HAYE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESER YE BALANCE
HAYE NO REQUREO RESERVE BALANCE
-------------------------------------------------------------------12490130
12490140
12490190
12490270
12490215
124q0290
1249')400
124QQ4)0
1z4qo410
12490475
12490495
Of
BARNES BANKING CO
KAYSVILLE
FIRST NAT BK OF LAYTON
LAYTON
FIRST NAT BK Of LOGAN
LOGAN
BANK Of UTAH
OGDEN
CITIZENS NATIONAL BANK
OGOE~
FIRST SECUkl TY BK Of UTAH NAOGOEN
CONTINENT Al BA~K A~O TR CO SALT LAKE CITY
TRACY COLLINS BK A'<D TR CO SALT LAKE CITY
WALKER BANK ANO TR CO
SALT LUE CITY
ZIO~S FIRST NATL BANK
SALT LAKE C ITV
VALLEY SANK AND TRUST CO
SOUTH SALT LAKE
II BANKS AFFECTED IN STATE
2
4
OF
BRADFORD NATICNAL BANK
BRADFORD
YE~ SONT NAT I ONAL BANK
BRATTLEBORO
CALEDONIA NB Of CANVILLE
OANY ILLE
cow•u,11rv NATIONAL BANK
DERBY LINE
FACTRY PT NB Of MANCHSTR CTRHANCHESTER CENTER
NB OF MIDDLEBURY
MIDDLEBURY
CATAMOU~T NATICNAL BANK
NORTH BENNINGTON
RANDOLPH NATIONAL BANK
RANDOLPH
FIRST N9 CF SPRINGFIELD
SPRINGFIELD
WOO~STOCK NATIONAL BANK
WOODSTOCK
10 BANKS AFFECTED IN STATE
------------
5
4
46828
92396
19707
1141027
169389
145348
567995
·101458
212513
266
144
657
1533
308
12924
2098
1331
5999
4802
4593
929
677
8
1375
3391
617
44805
7866
7155
28065
36546
7134
113
1804
0
5106
5327
5269
5468
5045
4509
0
0
0
0
0
0
31708
603
74
18407
24526
0
929
677
1375
3391
617
13097
7263
7081
%58
12020
7134
••
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------------------------------------
YT
YT
YT
YT
YT
VT
VT
YT
VT
YT
17256
182030
14302
27822
31471
20163
34129
24018
54297
21105
232
2583
58
341
429
353
654
564
815
120
474
5419
484
807
836
566
643
556
1359
716
0
4123
0
198
0
1
7
0
D
0
564
70
HAYE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAYE NO REQURED RESERVE BALANCE
---------------------------------------------------
0
0
0
0
0
0
0
0
474
5221
484
807
836
566
643
556
1359
716
....
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HAYE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REOURED RESERVE 8ALANCE
------------------------ -------------------------------1500110
1500150
l5002b0
15~0210
15J0390
lS004tO
150C490
1500570
15J0710
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Federal Reserve Bank of St. Louis
DSB
1/17/79
BENEFIT TO BANKS COVERED BY HOOi FIEO H.R. 7
MEMBER BANKS
NAME
5510020 WASH! NGTON COUNTY NAT BK
LOCATION
ABINGDON
55 lu02 5 FIRST VIRGINIA BANK-CENTRAL ALBE HARLE CCUNTY
Al TAVI STA
AnosATTOX
BAI LEYS XROAOS
5510\q0 FIRST rlAT BK OF BASSETT
BASSETT
BERRYVlllE
55IJ220 BAN,C. OF CLARKE COUNTY
5510265 1ST N EXC BK GF MONTGMRY CTYBLACKSBURG
551r.210 NJ.TIUNAL BANK CF BLACKSBURG BLACKSBURG
8LAC KS T CNE
'5510290 CJTIZ~~S 8~NK ANO TRUST CO
5510312 SW VIRGINIA NAT 8ANt<:.
8LUEF IELO
5510330 U'JION ~ANK. um TRUST co
BOWL I NG GREEN
BRIDGEWATER
5510360 PLA'ITERS BK CF BRIDGEWATER
ss103qo FIRST NH BK OF BROADWAY
BROA DHA Y
5510490 NATIONAL BANK ANO TRUST CO CHAR LOTT ES VILLE
CHAT HA"4
5510530 FIDELITY A."1ERtCAN BANK
5510514 FI~ ST r. MRCH NB OF TI DEWATERCHE SAPEAKE
CHRISTIANSBURG
55 Ld's 70 BArl'<. OF CHRIST(ANSSUf(G
5510580 FIRST NB OF CHRISTIA~SBURG CHRISTIANSBURG
5510532 FIRST VA BANK OF THE SW
CHSISTIANSBURG
Cll FTCN FORGE
5510620 F lRST "B OF CllFTOfl FORGE
5510630 ,SOU'HAIN NB OF CLIFTCN FORGECLIFTON FORGE
cornuRN
55106.:.0 FAR~ERS EXC BK OF COEBURN
551Q6lt5 PIE~MONT TRUST BANK
COLLINSVlllE
CDV I NG TON
55106'=!0 COVINGTOP-.,i NATIONAL BANK
5Sl0740 FIDELITY A'1 BK NA CULPEPPER CULPEPER
CULPEPER
5510750 SECO~O NS OF CULPEPER
5510770 AM NAT BKtTR CO OF OANVlllE OANVILLE
DA.NV 1LLE
55l08JO FIRST NAT BANK OF DANVILLE
EOJ t.J8URG
5510fl70 FR.a BK OF EO INBURG I NC
55109')0 CITllENS NS OF EMPORIA
EMPORIA
EMPCR I A
5510910 FIRST NB OF EMPORJA
FAIRFAX CTY
~510940 NATIONAL BANK OF FAIRFAX
FAIRFAX CTY
55109'1'-4 FIRST VIRGINIA BANK
HRMVlllE
5510%0 FIRST NB OF FAR~VILlE
551109Q F..\R,'-IERS ~ ~[RCHANTS STATE BKFREOERICKSBURG
FREDERICKSBURG
5511120 ,iAT BK Of FREDERICKSBURG
GALAX
5511160 FIRST NAT BK OF GALAX
Gq_UNDV
5511265 GRU'IUY NATIO~Al BAN'<.
GRUtl!)Y
5511268 ~H4ERS £. MERCHANTS Bf.TC
H4LIFAX COUNTY
5511285 flOELllY A~ BK tlA HA.LIFAX
HA:-IPTON
5511320 OLD PT ~IB Of PHOEBUS
HANOVER CTY
5511325 HANOVEP NATtmu.L !3A~K
HARR I SONBURG
5511350 ROCKl~GHA'1 ~4ATIONAL BANK
HARR I SON BURG
5511355 VALLEY N,\TIGNAL 6,\.~K
HEATHSVllLE
5511360 BANK CF NORTHU~B~RLANO INC
5510080 FIRST NB OF ALTAVISTA
5510130 FAP~~RS NB OF APPOMATTOX
5510183 HAMILTON BI\NK t TRUST CO
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA.
VA
VA
VA
·vA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
111
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121
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40895
19314
26229
20811
35461
44397
20984
666
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29209
28151
27842
36096
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17700
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37220
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7859
376
1232
1756
307
1316
618
405
1207
411
1191
485
121
131
1971
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141
NEW
EPA
1385
441
582
490
1483
805
646
1026
17
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169
1020
604
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Federal Reserve Bank of St. Louis
HE•~ER BA~KS
Ill
DSS
551l362
5511363
5511305
5511370
5511425
5511430
!:1511450
'551147!)
5511475
5511~20
55115,5
55115-JO
5511010
5~11625
5511630
5511632
5511695
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5511710
5511160
5511770
55ll"'tl
5511890
5511050
55119'3
5511~85
5512030
55!2040
551.? lt,O
55I2IA5
5'H2203
5512240
5512260
5512300
5512330
55123'5
55!2350
55\23b5
5512370
5517375
5512410
5512410
5512440
5512400
5512431
5512482
1/17/79
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NA•E
LOCATION
F IOELITY AftER BK NA RICHIIONDHENRICO CO\JtlTY
Ng BANK OF RICHMOND
HENRICO CTY
VIRGINIA NAT BANKIHENRY CTY HENRY CTY
F IOEL ITV A• BK NA NRTHRN VA HERNDON
FIRST VIP.'>INIA BAflK-SOUTH
HURT
GRAYSON NATIO~AL BANK
INDEPENDENCE
POWELL VALLEY NATIONAL BANK JONESVILLE
8A.N!<. CF LMJC.\STER
KILMARNCCK
CHESAPEAKE NATIONAL BArlK
KILMARNGCK
PEOPLES ~B OF LEESBURG
LEES!!URG
UNITED VA 8K I ROCK8RIOGE
LEXl~GTCN
FIP.ST NB Of LURA•
LURAY
PAGE VALLEY NB Of LURAY
LURAY
f IDCL IT'l' A~ER1CI\N PANY.. NA
LYNCHBURG
ll'lll ED VA BK I FIRST NAT
LYNCHBURG
VIRGINIA NAT BK/LYNCHBURG
LYNCHBURG
FIRST ~ANASSAS BANK & TR CO MANASSAS
MARS~ALL NAT BK & IR
MARSHALL
f IRST N3 OF MARTINVILLE
HART I NV ILL£
FA~HERS BA~K Of MATHEWS
HATl<EWS
~I 0JL[6URG NATIONAL BANK
HIDOLEBURG
f IRST N•TIOtlAL ,SANK
NARROWS
CITIZENS NATIONAL BA'IK
NEW ,iARKET
00,"11NIO~ NS CF TIDEWATER
NORFOLK
UNITED VA BKISEABOARO NAT
NORFOLK
VIRGINIA NATIONAL BANK
NORFOLK
flPST NB IN ONANCOCK
ONANCOCK
FARSERS&MRCH '18 IN ONLEY
ONLEY
f IR ST NB Of POQUOSON
POQUOSON
FIDELITY A" BK NA TIDEWATER PORTSMOUTH
FIRST VA SANK-MANASSAS NAT PRNC WILLIAK CTY
FIRST VIRGINIA BANK-FIRST NAPURCELLVILLE
FIRST & •RCH NAT BK
RADFORD
STATE BANK Of REMINGTON INC RESINGTON
RICHLANDS NATIONAL BANK
RICHLANDS
BAN~ Of VIRGINIA
R ICHHOND
CENTRAL NAT BK Cf RICHIIOND R ICH•ONO
OOSHIIO'I NB OF RICH>IONO
R IC>l,.OtlD
flRST&,iERCHANTS NB
RICHMOND
FIRST VIRGINIA BK-COLONIAL R ICHMONO
SOUTHERN BANK ANO TRUST CO RICHMOND
U~IT~D VIRGINIA SANK
RICHMOND
VIRGINIA NAT B.ANK/RICH.~ONO R ICHMONO
FIRST NAT EXCHANGE BK
ROANOKE
NEW BANK Of ROANCKE
RCMlOKE
COLONIAL-AMERICAN NAT BK
RCANOKE COUNTY
TDEP
121
VL TCSH
131
1971
REQ!AL.
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
YA
VA
VA
VA
YA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
YA
VA
VA
VA
VA
YA
YA
YA
YA
VA
YA
YA
1587 l
154H
16744
23548
36145
20551
27871
29741
19632
35405
28109
22628
17975
384119
119491
16883
21614
19126
131765
22122
20955
35304
22326
114348
364212
1739573
19614
33034
16479
104892
33507
23821
44112
15718
25089
522515
307546
103610
1017912
51422
173280
725602
62252
773874
11043
188292
297
431
616
486
605
418
188
274
308
244
391
524
290
6648
2507
399
529
200
3291
374
103
727
254
2874
11519
40504
268
531
203
4212
1520
273
'116
256
468
8446
4474
1730
16889
1407
2633
8458
724
7361
309
3337
405
179
115
65D
780
379
1051
1026
497
1470
928
420
468
11007
3550
395
583
707
2292
565
860
769
581
3500
11888
59326
577
744
387
1314
507
811
998
340
487
16286
11122
4522
43925
1028
5930
28620
2899
33008
0
56H
141
NEW
EPA
0
0
0
0
86
0
63
2
0
236
0
0
0
"842
1830
0
0
0
11
0
0
0
0
1734
5275
5077
0
0
0
0
0
0
0
0
0
4991
5118
2610
4879
0
4415
5042
1364
5184
0
3861
151
NEW
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
2304
0
0
0
0
0
0
0
0
0
0
2746
35423
0
0
0
0
0
0
0
0
0
7253
3493
0
26022
0
172
17078
0
23119
0
0
161
OIF
131-151
405
179
115
650
780
379
1051
1026
497
1470
928
420
488
8703
3550
395
583
707
2292
565
860
769
581
3500
9142
23903
577
744
387
1314
507
811
998
340
487
9033
7629
4522
17903
1028
5758
11542
2899
~889
0
5644
••
•
•••
•••
••
••
•
•
•
••
••
•
••
••
•
•
•
•
•
•
....
f
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MEMBER BANKS
Ill
NAME
DSB
5512483
5512484
5512495
5512490
5512500
5512510
5512030
5512632
5;12640
S~l2653
5512655
5512725
'5'512740
5511748
5512760
5512~40
5512850
5>12860
5512880
5512904
5512911
55129-tO
5512950
5512960
5c:;L!975
55129go
5513050
5513070
5513030
5513101
5!11?145
5513150
OF
TDEP
LOCATION
FOLTY AH BK NA ROANOKE YLLY ROANOKE COUNTY
FIRST VA BK OF ROANOKE VLY ROANOKE COUNTY
UNTO VA BK ~F ROANOKE NA
ROANOKE CTY
BANKERS TRUST CO
ROCKY ~OUNT
PEOPL~S NATIONAL SANK
ROCKY MCUNT
ROU~~ HILL NATIONAL BA~K
ROUND HILL
SOUTH BOS TON BtTC
SOUTH BOSTON
UNTO VA BK/C TZNS OF S BOSTONSOUTH BCSTON
CITIZENS BANK INC
SOUTH HILL
ALEXANDRIA NAT BK Of N VA
SPP. I NGF I ELD
NORTHERN VIRGINIA BA~K
SPRINGFIELD
UNITED VA BK / NAT VALLEY
STAUNTON
FIRST NB OF STRASBURG
STRASBURG
FIRST VIRGINIA BANK N A
STRASBURG
FIRST NAT BK OF STUART
STUART
SOUTtiSlOE BANK
TAPPAHANNOCK
BANK OF TAZEWELL COU'ITY
TAZEltELL
TAZEWELL NATIONAL BANK
TAZEWELL
FlqST NB OF TROUTVILLE
TROUTVILLE
DO'IINION NB OF NORTHERN VA VIENNA
UNITED VIRGINIA BANK-NAT
VIENNA
FAU~lllER NB OF ·wARRENTON
WARRENTON
WARRENTON
PEOPLES NB OF WARRE~TGN
U:'~THEF.1\1 NECK ST" BK
WARSAW
OOMINIGN NATIONAL BANK
WASHINGTON CTV
BANK OF SAVERLY
WAVERLY
U'II TED VA BK CF l<ILLIAMS8URGWILLIAMS8URG
FAR.SERS & MERCHANTS NAT BK WlNCHESTER
SHENANDOAH VALtEY NB
WINCHESTER
WI SE COUNTY NA Tl ONAL BANK
WISE
H'I NAT BK OF THE PENINSULA YORK COUNTY
FIRST NAT 8ANK 0F YORKTGWN YGRKTGHN
0
124 BANKS AFFECTED IN STATE
------------------------------12530050
125301~0
12530290
12530468
12530i65
1253085I
1/17/79
BENEFIT TD BANKS COVERED BY HOOi FIED H.R. T
BELLINGIIAM NATIONAL BA~K
NORTHWEST NATIOtlAL BAN(
FIRST NAT BK OF ENUMCLAW
SOUTH SOUND NATIONAL BA~K
FAP. .• ERS & MERCHANTS SANK
PACIFIC NB OF WASHINGT0,1
74
38
VA
VA
VA
VA
VA
VA
VA
VA
VA
YA
VA
VA
VA
VA
VA
YA
VA
VA
VA
VA
YA
YA
VA
VA
VA
VA
YA
YA
YA
VA
YA
VA
16736
51314
49091
32617
40277
15141
37561
30911
26750
135153
127026
41774
24427
47168
25676
31407
50222
30940
13487
138353
456059
39949
21260
25847
69619
15475
69652
144096
61269
63209
125119
16500
121
YLTCSH
337
1130
1282
387
626
118
879
398
551
3069
3448
734
279
617
736
452
1059
425
221
H74
10373
358
433
339
1329
234
1671
2964
943
955
4550
447
131
1977
REQBAL
324
1093
95I
866
965
455
757
957
628
4309
4084
1323
677
1386
254
925
1315
1188
298
4989
18216
1573
620
815
2451
427
1889
4264
1869
2829
3217
275
141
NEW
EPA
151
NEW
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
a
a
IT
26H
2228
24
0
293
0
0
0
0
0
2589
5262
227
0
0
1166
0
746
2830
767
1548
925
0
a
0
0
0
0
0
0
8678
0
0
0
0
0
0
0
0
0
0
0
161
DIF
131-151
324
1093
951
866
965
455
757
957
628
4309
40e4
1323
671
1386
254
925
1315
1188
298
4989
9538
1573
620
815
2451
427
1889
4264
1869
2829
3217
275
.••
•
•
•
•
•
..
••
.•••
•
•
•••
•
•
•
•
•
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAYE NO REQUREO RESERVE BALANCE
-------------------------------------------------------------------------BELLINGHAM
CLARK CCUNTY
ENUMCLAW
LACEY
CPPORTUNI TY
SEATTLE
WA
WA
WA
WA
WA
WA
71375
27182
38582
23723
35687
l 005 B88
1301
322
431
490
627
1B389
2899
1003
1184
b98
1156
36440
1514
0
35
0
0
5097
0
0
0
0
0
22566
2899
1003
1184
698
1156
13874
•
••
•
•
....
g:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
HEMSER BA:iKS
oss
BENEFIT TO BANKS COYEREO BY MOOIF IEO H.R. 7
NA~E
12530860
12530867
12530870
12 530~SO
1253~9SO
l253J990
12531020
125310~0
OF
PEOPLES NAT BANK OF WASH
SEATTLE
RAINIER NATIONAL BANK
SEATTLE
SEATTLE-FIRST NATIONAL BANK SEATTLE
SEATTLE TRUST ANO SAYINGS BKSEATTLE
FIRST NB IN SPOKANE
SPOKANE
OLD NS OF WASHINGTON
SPGKANE
FIRST NB OF STANWOOD
STANWOOD
PUljET SOUNO NATIONAL BANK
TACOMA
14 BANKS AFFECTED IN STATE
WA
WA
WA
WA
WA
WA
WA
WA
4
3
554,)230
554~235
5540240
5540250
5540260
554J2ao
5540290
554)320
554J390
5540415
5540420
554Q'o25
5r,4J430
5540490
5540495
5540515
554•J550
55405 ~o
5-c;4os?o
5540620
5540630
121
YL TCSH
937993
2318452
4044962
344774
59B30
783B16
23677
456618
17021
35315
69347
6313
1334
15250
356
11764
131
1977
REQBAL
40233
108568
174553
12227
2033
29037
614
12717
141
NEW
EPA
5U6
5222
5081
5010
681
5093
0
5024
151
IIEk
REQSAL
25213
7H72
109985
3923
0
16789
0
3566
161
OIF
131-151
15020
33796
64568
B304
2033
12248
614
9151
•
•
HAYE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE ND REQURED RESERVE BALANCE
----------------------5540010
5540060
554,)()70
554JOS5
5540090
5549120
554')1)0
55•n5o
5540170
111
TOEP
LOCATION
1/17/79
FIRST NAT BK OF ALDERSON
ALDERSON
BECKLEY NATIONAL BANK
BECKLEY
RALEIGH COUNTY NAT OK
BECKLEY
f IRST NAT BANK OF BELLE
BELLE
CTZ NB OF BERKELEY SPGS
BERKELEY SPRINGS
FIPST tlAT BANK OF BLUEFIELD BLUEFIELD
FLAT TOP IIAT BK OF BLUEF IELOBLUEF I ELD
BRUCETON BAtlK
BRUCETON MILLS
CENTRAL tlB OF BUCKHANNON
BUCKHANNON
CHl\q_LESTON NATIONAL BANI(
CHARLESTON
CITY NAT BK OF CHARLESTON
CHARLES TON
KANA~HA BK t TR CO NA
CHARLESTON
KANArJHA VALLEY BANK ~A
CHARLESTCN
NAT BK Of CHRC OF CHARLESTONCH~RLESTCN
PEOPLES BK OF CHARLES TOWN CHARLES TGWN
~MPIRE N9 OF CLARKSBURG
CLARK SBUP.G
UNl'JN NB OF CLARKSBURG
CLAkKSBURG
CITIZENS NB Of eLKINS
ELK I NS
~OUCEVERTE IIATIONAL BANK
FAIRLEA
CITY NB Of FAIRMONT
FAIR<ONT
COSSUNITY BANK ANO TRUST NA FAl•MONT
FIRST NB IN FAIRMONT
FAIRMONT
BANK CF GASSAWAY
GASSAWAY
GAULEY NATIC~AL BANK
GAULEY BRIDGE
BLUEY ILLE BANK OF GRAFTON
GRAFTON
LINCOLN IIB Of HAMLIN
HA"LIN
FIRST NB OF HINTON
HINTON
NB OF SUMMERS OF HINTON
HINTON
FIRST HUNTINGTON NB
HUNTINGTON
GUAUNTY NB Of HUNTINGTON
HUNT IN~TON
----------------kV
WV
WV
WV
w~
WV
WV
WV
WV
WV
WV
WV
WV
WV
WY
WV
WV
WY
WV
WV
WV
WV
WV
WV
WY
i,y
WV
WV
WV
WV
0
674
349
3432
3536
343
552
3327
386B
755
1296
1B392
117526
114319
21650
17044
B4688
103873
24775
46629
101
1559
2383
574
295
752
1708
293
733
674
3781
3536
343
552
3327
386B
755
1296-
0
2579
2252
0
0
1735
0
0
0
0
0
0
0
0
0
ZOI072
53672
136932
259036
11B642
17354
5B146
143724
5050
751
1061
3601
3259
1B9
539
1690
878
392
404
59e
1B16
276
253
447
403
332
363
Z144
1497
6653
1698
5927
9543
2506
551
4276
492
4012
5285
564
0
5B2
3B65
0
0
767
367
446
0
439
157
0
0
0
2413
1568
0
0
563
2479
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
46925
27545
56974
5290B
79695
24949
27397
35366
2705B
19235
25822
135007
B6938
2002
5564
1216
769
2145
1573
1801
811
1774
1016
786
442
760
4944
3196
Hll
6653
169B
5364
7064
2506
551
2002
5564
1216
769
21•5
1573
1B01
811
1774
1016
786
442
760
4944
3196
•
•
•
••
•
•
•
••
••
••
•
....
•
BENEFIT 10 BANKS COVERED BY MODIFIED H.R. 7
>IEM~ER BANKS
.
1/17 /79
0
'
w
~
Cl I
058
NAME
TDEP
LOCATION
121
VL TCSH
0
~
w
w
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5540635 HUNTINGTON TR & SVGS BK
HUNTINGTON
55.'.t0645 VALLEY NB OF HUNTINGTON
HUNTINGTON
55 1,0650 PUTNA.S COUNTY BANK
HURRICANE
554Cbg0 NATIONAL BK OF KEYSER
KEYSER
5540700 FISST NB OF KEYSTONE
KEYSTONE
5540710 ALB~IGHT NB OF KINGWOOD
KINGWOOD
5540720 G~EE'rnRtER VALLEY DANK
LEWISBURG
55407)0 PlATIO~AL 8K CF LOGAN
LOGAU
554,)760 so~.-.~ NB OF MADI SON
MAOI SON
55:..1)800 Cl TIZENS NJ CF MAq,JINSBURG
MAP.l lNSBURG
5540820 OLD NS OF MART1,issuRG
MARTINSBURG
H~RTINSBURG
~':!40 8 30 PPL ~B OF "'RTINSSU~G W VA
MATEWAN
5'>40840 ~ATEWAN NATICNAL 3A"IK
55 .. 0990 ~l::RCH ~~8 OF ""'0NTGO~ERY
HGNTGOHERY
55409)0 MO~TGOMER.Y NATIONAL OANK
HONTGO~ERY
5540910 S t.\R VLY NB CF MOOREFIELD
NOOR~F 1 ELD
5~ ... 0910 flkST N8 OF MORG,\NlO't4N
MC'lGANTOWN
55.:.09)3 su~CREST NATIONAL BANK
MORGA NT CWN
454J'?40 FIRST NAT BK AT HOU~OSVILLE MOUNDSVILLE
554!)qg() PEOPLES BK OF MULLENS
MULLENS
45't lllJO f IR ST NB OF 1SEW .•ARTINSVILLENEW SARTINSVILLE
5~41020 FtP.ST CLARK NB OF NORTHFORK NORlHFORK
5541030 ~ERCHA~TS & MINERS NAT SK
OAK HILL
5541C60 PAR~ERSBURG NATIONAL BANK
PAP.KE RS BURG
55410-31) U~IION TRUST NATIONAL BANK
PARKERSBURG
55!, 1140 POTO"'AC VALLEY BANK
PETERSBURG
'l"i4 l l '58 BAR5WUR cournv BANK
PHILIPPI
5'i4ll~0 FJ•ST NB OF PHILIPPI
PHILIPPI
5541190 CITIZENS NB OF PT PLEASANT
POINT PLEASANT
5'41230 PRPICETON BANK A'ID TRUST CO PRINCETON
55 1d223 WESTERN GREENBRIER NAT BANK RAINELLE
5541?.40 CHER~Y RIVER NB OF RICHHOOO RICHWOOD
5541250 BANK OF RIPLEY
RIPLEY
5541260 FIRST NB OF RIPLEY
RIPLEY
R CMNEY
5541270 BANK CF ROl-lNEY
5'5412~0 FIRST t<B OF RO<NEY
RC~UEY
55412?0 FIRST NB IN RONCEVERTE
RONCEVERTE
5~41320 BANK OF ST ALBANS
ST ALBANS
5541325 CITIZE:,s N4TION.t.L BANK
ST ALBANS
ST 1J1AI\YS
5541340 PLE4SA~HS cou~nv BANK
55'-14;)J FIR5.T N3 OF S CHARLESTON
scum CHARLESTON
SPENCER
5541410 Fl<ST '18 CF SPENCEK
5541430 THE TRt.CERS 94NK
SPENCER
5541440 FAR~ERS t ~ERCHANTS 8K
SUMSERSVILLE
554 lt.&O HCME N9 CF SUI TON
SUJTON
5541470 FIRST N3 OF TERRA ALTA
TERRA ALT A
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
HY
WV
WV
WV
57609
16311
41480
26836
l92l4
32830
22218
69834
33945
32540
47198
25322
34985
27729
29923
16116
107125
24008
25402
33883
25219
20885
30891
109277
44B48
20841
16178
23945
38895
75327
18166
1584'
17097
27594
20769
15552
2bb54
56<}61
22366
16981
29431
29823
30982
30161
23129
19321
1057
515
206
434
211
568
308
1273
281
258
1435
532
753
696
571
253
1127
777
323
583
536
297
450
2282
899
164
202
307
506
821
360
257
265
675
248
235
298
705
669
238
331
270
318
446
281
220
131
1977
REQBAL
1801
270
1394
691
545
1092
734
2586
1167
1155
898
575
661
500
846
501
4567
209
BIO
902
642
551
962
2780
1155
769
359
698
1206
2520
491
351
448
501
712
442
829
1962
268
466
1027
960
1012
931
691
571
141
NEW
EPA
719
0
335
0
0
0
0
979
175
48
0
0
0
0
0
0
2472
0
0
0
0
0
0
1260
9
0
0
0
18
827
0
0
0
0
0
0
0
698
0
0
2,
0
54
0
0
0
151
NEW
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
a
0
0
0
0
0
0
0
0
0
0
(61
DIF
(31-151
1801
270
1394
691
545
1092
734
2586
1167
1155
898
575
661
500
846
501
4567
209
810
902
642
551
962
2780
II 55
769
359
698
1206
2520
491
351
448
501
712
442
829
1962
268
466
1027
960
1012
931
691
511
.•.
.••
..•
..•••
.
.••
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Federal Reserve Bank of St. Louis
BENEFIT TD BANKS COVERED BY HOOIFIED H.R. 1
HE•BER BANKS
111
DSB
NAME
LOCATION
5541505 OHIO VALLEY NB OF VIENNA
VIENNA
Fl•ST NATIONAL BANK
WE IRTD~
WElqTQN NATIONAL BANK
hEIRTON
.scoo·•Ell CTY NAT BK
WELCH
hELlSBURG NATIONAL BANK
WELLSBURG
WES TON NA Tl ONAL BANK
hESTON
FIP.ST NB t TR CO Of WHEEllNGWHEEL ING
FlqST WV BK NA-WARWOOO
WHEEL ING
HALF DCLLAR TR & SVGS BK
WH~EllNG
s EClJq ITV NAT BK t TRUST CD WHEELING
WHE~LI NG DOLLAR SVGS & TR CCWHEEL ING
55,.i 730 BANK OF WHITE SULPHUR SPG
WHITE SULPHUR SPG
55417:>0 FIRST NB OF WlllA14SON
WILLIAI\SON
5541 7~0 NAT BK OF CHRC OF WILllAHSONWILLIAMSON
4541504
45-1567
5541'570
4541500
5541610
4541650
4'>41654
4541670
4541630
4541720
OF
qo BANKS AFFECTED IN STATE
55
32
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
WV
95'i'}~40
755J3b0
755·)390
7550430
75'50450
7550460
<;550540
7550640
7550656
755l6'10
95509)0
9550910
755oq72
7551070
755112 5
7551170
75~1210
9551340
FIOELITY SAVINGS BANK
FIRST N8 OF APPLETON
UNIO~ NAT BK OF ASHLANO
FIRST NAT BK OF BALDWIN
BARABOO NATIONAL BANK
FIR ST NB t TRCO OF BARABOO
FIRST NAT ~K OF BARRON
A~ERICAN NB Of SEAVER DAM
I NB & TRCO CF BEAVER OAM
FIRST N8 & TR CO OF BELOIT
FAR'◄ ERS ANO HERCHANTS BANK
FIRST NB OF BERL IN
PEOPLES ST BK CF BLOOMER
BANK CF BRODHEAD
FIRST WISCONSIN NUIONAL BK
Bl~( OF BURLINGTON
FIRST NB OF CHIOPEWA FALLS
~JRTHWESTERN BANK
FIRST NB OF CLINTCNVILLE
FIRST NB OF CUUHBUS
FIRST NB OF CUDAHY
CITIZENS NB OF OA~LINGTDN
WISCONSIN STATE BANK
SE CUR ITV NB OF DURAND
121
VLTCSH
24211
19948
12239
51157
21175
27586
5H09
15933
45840
64717
106353
21291
40376
44560
622
775
256
1266
286
734
1314
483
94I
1604
2373
487
914
671
131
1977
REQ84l
584
55
133
1413
605
451
1236
113
1259
1674
3177
429
805
1466
141
NEW
EPA
151
NEW
REQBAL
0
0
D
0
0
0
0
0
24
146
1163
0
0
435
0
D
0
0
0
0
0
D
0
0
D
0
0
0
161
DIF
131-151
584
55
133
1413
605
451
1236
113
1259
1674
3111
429
805
1466
••
••
•
•
•
•
•
•
•
•
•
HAVE NO EARNINGS PARTltlPATIDN ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
------- ---------------------------7550120
7550150
95~0220
95c;o2~0
7550300
75S0310
TOEP
1/17/79
A~TIGO
APPLETON
ASHLAND
BALDWIN
BARABOO
BARABOO
BARRON
BEAVER DAM
BEAVER OAH
BELOIT
BE~LIN
BERL IN
BLOOMER
BRODHEAD
BROCKF I ELD·
BURLING TON
CHIPPEWA FALLS
CHIPPEWA FALLS
CLINTONVILLE
COLUMBUS
CUDAHY
OARL INGTCN
DELAVAN
DURAND
....
-------------------------WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
WI
29657
1390·72
267H
19857
41967
IB733
13470
395B7
40408
66049
15139
15416
18430
18803
27230
47267
39551
40B08
18017
20065
18259
21074
20882
26767
503
1995
268
97
333
202
79
353
583
929
172
213
178
132
772
389
448
591
216
156
230
117
159
186
817
4160
844
613
1484
511
434
1196
943
2085
382
350
582
507
525
1376
1131
1037
446
627
515
731
602
887
0
2388
38
34
86
0
0
202
0
810
0
0
0
11
0
403
9
0
0
0
0
21
20
13
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
817
4160
844
613
1484
511
434
1196
943
2085
382
350
582
507
525
1376
1131
1037
446
627
515
731
602
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
DSB
1/17/79
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
MEMgER B~~KS
NAME
9~5 l 3SO F lRST NAT BK OF EAGLE R !VER EAGLE RIVER
EAU CLAIRE
EAU CLAIRE
CJ55L3BO FIRST WISC NAT BANK
ELKHCRN
7551450 FIRST NB OF ELKHORN
EVANSVILLE
7551520 UNDN BANK ANO TRUST co
7551580 FIRST WIS NB OF FOND OU LAC FOND OU LAC
7551590 •1AT E XC BKCTR. Of FOND OU LACFcrrn OU LAC
75516Fl0 RAC I NE C GUSTY NAT I ONAL BANK FRANKSV I U E
7,51015 FIR ST Ng CF GLENOALE
GLENDALE
GREEN BAY
7551385 CITIZENS A,SERICAN BANK NA
1ss1qvo KELLOGG CI Tl ZENS. NAT BANK GREEN BAY
7551929 SCUTHSIOGE BANK OF GREENDALEGPEENDALE
75=il'-H3 FIRST hlSC UAT BK CF SO GA TEGREE NF IE LO
HARTFORD
7552010 FI q ST NB CF HARTFORD
95~2Q40 PCOPLES ~AT BK OF HAYWARD
HAYWARD
7552110 ST~ TE 8K OF HOWARDS GVE
HCH ARDS GROVE
QC:,e: 212 C FIRST NAT SK OF H~OSON
HUDSON
JANESVILLE
75~Z2JO FIA.ST N.\TJONAL BANK
JANESVILLE
7552220 ROCK CTY NB OF JANESVIL(E
KENOSHA
7552330 BP.(l•,rn NB CF KENOSHA
KHtOSHA
75~2340 FIR ST NB OF KENOSHA
75523lt5 KfNOSHA NATIONAL- BANK
KENOSHA
LA CROSSE
9552441 Fiqsr B.\NK NA
05 '>2442 FIR ST NAT SK OF LA cq,osse
LA CROSSE
LADY SM I TH
9552490 PIOScER NB OF LADYSMITH
lAKE GENEVA
7552505 CITIZENS NATIONAL OMIK
LAKE GENEVA
7552510 FIRST NB CF LAKE GENEVA
MADI SON
75':J2720 fF{Sl WI NB CF MAD I SON
MANITOWOC
7552Bl0 FIPST NB IN MANITOWOC
75S2B30 Me.~U TOWOC SAVINGS BANI( N A MANI Towne
MAR HIETTE
7552 ~30 FIRST N3 OF MARINETTE
MAJ; !NETTE
75528~0 STEP><ENSON NB OF ~AR I NETTE
MARKESAN
7552920 ~A~X.ESA\I STATE 8A.NK
HARSHFIELD
75~,2940 CI Tl ZENS NAT BANK t TRUST
~ENA SHA
7553040 FIRST NB OF MENASHA
HE~O~ONI E
955?,070 FISST NH BK OF MENOMONIE
7553130 FIRST SISCONSIN NAT BAtlK
MILWAUKEE
75".::-3260 MAqPIE r~AT l C~AL E XCHANi;E 81( MILWAUKEE
~IL WAUKEE
7553Z7J Mr: [ MAA. SH,'\LL t ILSLEY BANK
,~~)271 Sl I ~IOR HiERN BANK
HlU,.\i.JKEE
HI l~A.UKEE
75S 3292 :--i:::RTHRJaGE 8HlK
"iC";ROE
7$5)4JO FIRST ~:l CF ."1CNROE
NE f. NAH
7">53490 FIR ST ~e OF NfErUH
NEENAH
7:".535J0 ~.\FdNE UAT BANK
NEILLSl/llLE
7'"5 ~'>lo F 1 A.ST ~.g AT NEILLSVILLE
Q~,53630 FIRST N3 OF NEW RICH"ONO
NEW RICHHONO
95,;1310 A~ERICAN NATIONAL BK & TR
111
TDEP
LOCATION
WI
WI
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WI
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HI
WI
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WI
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WI
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WI
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WI
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WI
WI
WI
WI
WI
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WI
WI
WI
WI
WI
WI
WI
WI
16222
101672
119693
381.74
14562
65286
71566
39014
32269
29682
201309
21515
28726
27629
31123
13509
I 8762
51006
30751
70886
122070
52 706
357284
94232
16646
21812
31 726
261827
48764
87576
16779
27454
12370
50547
25111
26249
1646020
4576q7
645450
112447
22657
59824
65432
54079
I 7lb2
1706 I
121
VL TC SH
240
1636
2166
300
107
1134
1077
473
488
624
4565
1269
602
389
260
86
213
0so
630
1031
2653
447
7372
1936
152
292
3I 7
3888
581
1086
270
457
102
591
287
218
211,5
IOS87
16137
1640
1138
580
1151
316
127
113
131
141
NEW
151
1977
REQBAL
EPA
411
3060
3453
1304
0
0
1521
1533
41
NEW
REQBAL
482
0
2885
2529
1216
869
579
5110
1441
1062
41
0
0
3092
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1101
0
578
728
971
389
596
1291
860
2159
3240
1789
12457
2529
544
586
1006
12064
1321
2764
319
684
330
1565
693
822
79530
16433
25586
4052
0
1854
1101
2159
517
U6
52
0
0
218
1659
793
0
0
5284
4149
734
0
0
123
5282
101
1166
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23
20
5466
5353
5147
2309
0
280
584
0
0
0
0
3988
0
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0
0
0
0
57995
bbl1
12297
0
0
0
0
0
0
0
1136
0
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161
DIF
131-151
471
3080
3453
1304
482
2885
2529
1216
869
579
5110
0
578
728
971
389
5~6
1291
860
2159
3240
1789
8308
2529
544
586
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8076
1321
2764
319
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1565
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Federal Reserve Bank of St. Louis
OS~
l/17/19
8ENEF IT TO BANKS COVERED BY MODIFIED H.R. 7
HE~IJ ER BA"iKS
N,\~E
111
TOEP
LOCATION
7553698 TR I-CY NB OF OAK CREEK
OAK CREEK
OCONOMOWOC
7553720 FIRST NB OF GCONC•owoc
OCONTO
7553730 FIRST NB OF OCONTO
75539')0 FIRST WI NB OF OSHKOSH
OSHKOSH
CSHKQSH
7'i5~S20 OSH!<. IJSH NA TI ONAL BANK
95';,~950 HHST NAT BK OF P~RK FALLS
PARK FALLS
PESHTIGO
7S:iJ870 P[:SHTIGO NAT ICNAL BANK
7553<:;;.(I FIR. ST Nll OF PLATTEVILLE
PLATT EV ILLE
PLATTEVILLE
75'.:.i396J STATE NB OF PLATTEVILLE
755:3'>')0 FIRST ~A OF PORT AGE
PORT AGE
75~,.'.tOJO FIRST NB ·oF PGRT WASHINGTON PORT WASH! NG TON
7554120 FARMERS ~E~CHANTS NAT SK
PRINCETON
RAC !NE
7554 l60 FI ll. ST NAT I ONAL BK ANO TR
RAC I NE
7554164 HERITAGE Na OF RACINE
755416'3 Mf.l AMERICAN BANK & "TRUS'T CORAC l~E
RH I NELANOE R
9554250 FIRST NB OF RHINELANDER
RICE LAKE
95~0:.270 FIRST WISCONSIN NAT BANK
7554310 FJl<ST N9 OF ~!PON
RIPON
9554150 FISST NAT BK CF RIVER FALLS RIVER FALLS
9:,=;4410 rJ~ST NB Of ST CROIX FALLS
ST CROIX FALLS
SEY/40UR
7554'- 1,0 FI Q:ST NB C.F SEY~OUR
SHAWANO
75?4-..9 0 SHA'.,,\NO NAT I ONAL 86.NK
75545JO CITIZENS 8Af.lK. OF SHEBOYGAN SHEBOYGAN
7554530 SEC:Ji:\ITY FIRST NATIONAL BANKSHEBOYGAN
SPAHA
7554675 'JNIO',NAT BK ~ TRUST CO
7554750 CITIHSS NB OF STEVENS PNT
SIEVENS POINT
75'J', 76 a FI Q. ST ~rn OF STEVE"S PNT
STEvrns POINT
7554790 FIR.ST NO CF STOUGHTO:--,
STOUGHTON
STURGEON BAY
755482C o.e.•~<. Cf STUR(;EON dAY
ST UP GEOi-..t BAY
7550:.H25 Fl~ST NB Of STURGEor.; BAY
SUPERIOR
955486G FIRST NB OF SUPER JOR
9554870 ,"IAT BK Of CMRC IN SUPER !OR SUPER !OR
VIROQUA
7555030 FIRST NS JN VIROQUA
WATERTOWN
75C:.518Q MPCH NB OF \'iATERT0~,'4
WAUKESHA.
7555.?QO FIRST NB OF ~AUKESHA
WAUKESHA
75552'.)5 YAQI~E NB OF WAUKESHA
WAUPACA
7555250 fAR "l:.':R S ST BK OF WAUPACA
WAUPACA
7555260 FIRST NB OF WAUPACA
WAUPUN
7555270 ~.\ J 3K Of WA 1JPUN
75~,5290 STA.TE BK OF WAUPUN
WAUPUN
'!5553)0 FIR ST AMERICAN NAT BANK
WAUSAU
75~53,)5 FIRST SI N~ OF WAUSAU
WAUSAU
WAUWATOSA
755 5340 FIRST NS IN WAUWATOSA
WEST ALLIS
7S5S370 ~IUUUKEE COUNTY BASK
75553'-JO FIRST NB OF w erno
WEST BEND
WISCONSIN RAPIDS
7555510 FIRST NB OF WI RAP IDS
WI
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WI
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17197
25471
20216
113971
46462
23006
14486
24316
23533
38902
WI
16118
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18750
57500
39666
35008
18176
27111
15145
27718
57773
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22138
75763
21036
40383
51919
14430
24371
152252
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20271
19914
23766
26604
150270
26147
47972
98158
62551
55965
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VL TCSH
544
567
355
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210
104
173
160
580
206
180
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786
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323
360
129
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354
2534
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340
794
737
466
1269
272
919
578
151
216
1802
559
368
408
252
218
2367
302
354
931
396
655
131
1971
REQBAL
258
565
428
2790
1231
638
402
805
160
1007
448
528
3628
346
1369
817
800
378
765
442
650
1742
5417
4933
538
1551
2302
422
2072
141
NEW
EPA
0
0
0
1253
34
38
0
I 51
NEW
REQBAL
0
0
0
0
0
0
0
161
OIF
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258
565
428
2790
1231
638
402
805
154
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21
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0
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0
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180
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645
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359
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1652
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800
378
765
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1742
5417
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Federal Reserve Bank of St. Louis
ME~3ER BANKS
OSB
NAME
7555520 WOOD CTY NB OF HIS RAPIDS
Of
l/17119
BENEFIT TO BANKS COVERED BY IIODIFIED H.R. 7
111
TDEP
LOCATION
WISCONSIN RAP I OS
117 BANKS AFFECTED IN STATE
56
56
WI
67213
121
VLTCSH
1373
.~,
131
1977
REQBAL
NEW
1720
269
EPA
151
NEW
REQBAL
161
DIF
131-151
D
1720
0
275
0
1833
0
0
0
0
0
0
811
7223
943
6465
2428
0
507
1176
3757
•
HAVE NO EARNINGS PARTICIPHION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
--------------------------10560040
10560070
105~0073
l05b00S0
I05bOOgu
10560095
10560008
10~6Jl00
1056') 130
105,.0170
!05t:0160
l05S0185
I056Dl90
10560240
105.50260
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10S60320
1056·1330
l05b0170
10560398
I05b03,0
105~0-H 0
10560420
10560425
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I05o05b0
()f
FIR ST NAT BK OF BUFFALO
BUFFALO
F IP ST NAT BK OF CASPER
CASPER
HILL TOP NATIONAL BANK
CASPER
WYOSltlG NAT BK OF CASPER
CASPER
CHEYENNE
A"ER ICA~ NB OF CHEYENNE
FIRST WY BANK NA CHEYENNE
CHEYENNE
F IP.ST WY BK NA E CHEYENNE
CHEYENNE
f!RST NAT BK & TR CO
CHEYENNE
SHOSHONE FIRST NAT BK
CODY
FIRST NAT BK IN EVANSTON
EVANSTON
f IRST ~VOS ING SANK EVANSTON EVANSTON
FIRST NATIONAL BANK
GILLETTE
STOCKMEUS BANK & !RUST CO
GILLETTE
JAC<SON STATE BANK
JACKSON
FI OST WYOMING BK NA KEMMERERK£•11ERER
FIRST WYOMING BANK NA LANDERLA"DER
~t.Nr<. P.f LARA~IE
LANAMIE
FIRST NB Of LARAMIE
LARA'11E
FIRST NB Of LOVELL
LCVELL
FIRST STATE BK Of NEWCASTLE NEWCASTLE
AS~OICAN NAT BK Cf POWELL
PCWELL
f IRST NAT ijK Of POWELL
POWELL
FIRST WYOMING BK NA RAWLINS RAWLINS
ElAWLINS NATIO,IAL BANK
RAWLINS
A"1ERICAN NATIONAL BAN!(
RIVERTON
FIRST NAT BMlK Of Rl'/ERTON RIVERTON
ROC < SPR l.'l~S IIAT IO>aAL BANK ROCK SPRINGS
FIRST NB Of SHERIDAN
SHtRI DAN
SUN~A,.CE
SUNJ••.CE STATE BA"<
TH[RMOPOLIS
F 1RST NB IN THERSOPOLIS
CITIZE'IS NU BK & TR CO
TORRINGTON
f\Q.ST NA110NAL BANK.
TCRRINGTCPI
f!RST NB IN WHEATLAND
"'ttEAfLAND
FIRST NB I~ WORLA~D
WOP LANO
34 BANKS AFFECTED lPI STATE
12
20
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938
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170
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--------------------------------------------------------------------
0
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Federal Reserve Bank of St. Louis
i/ll/l9
BENEFIT TO BANKS COVERED BY MODIFIED H.R. l
058
NAME
2720055 BA~CO DE SANTANDER-PR NA
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66155
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2589
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--------------------------------------------------------------------------------------
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Ill
DSB
60\0010
6010015
60100)0
6010065
6010010
6010120
6010121
6010190
6JI0205
6010229
6010250
6010258
6010295
6010305
601031 l)
6010323
NAME
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FIRST BANK OF AlABAShR
ALEX ANDER CITY BANK
CIT IBANC Of Al ANDALUSIA
co••rnc IAL BANK
l/ ll/79
BENEFIT fO BANKS COVERED BY HOOIFIEO H.R. 7
NON~EHBER eAHKS
TDEP
LOCATION
ABBEVILLE
ALABASTER
ALEXANDER
Al ANDALUSIA
ANDALUSIA
ARAB
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SfCURIIY BANK AND TRUST co A'U8
BANK CF A Ti40RE
ATMORE
ATTALLA
EXCHANGE BANK
AUBURN
AUBURN BANK & TRUST CO
BAY MINETTE
BALD~IN COUNTY BANK
BAYOU LA BATRE
FIRST ALA BK OF MOBILE CTY
BIRHINGHAH
BANK OF lHE SOUTHEAST
CENTRAL BANK OF BIRMINGHAM BIRMINGHAM
FIRST AL BANK OF BIRHINGHAH 81 RH INGHA~
METROBANK
B IRHI NGHAH
6010]50 BANK Of BLOUNTSVILLE
BLO~NTSVILLE
BOAZ
6010370 SANO MOUNTAIN BANK
BREWTON
60103SO BANK CF BRfWTON
6010451) CHO CT AW BANK OF BUTLER
BUTLER
CENTRE
6010520 CHEROKEE COUNTY BANK
60105)0 FARMERS ANO MERCHANTS BANK CENTRE
DADEVILLE
60 l 069 0 SANK OF DADEVILLE
DECATUR
6010693 FIRST STATE BK OF DECATUR
OEHOPOL IS
6010720 ROBERTSON BANKING CO
ELBA
6010780 ELBA EXCHANGE 8ANK
6010805 CITIZENS BANK
ENTERPRISE
60\0RIO ENTERPRISE BANKING COMPANY ENTERPRISE
EUFAULA
6010820 EUFAULA BANK ANO TRUST CO
6010310 CITIZENS BANK
FAYETTE
FLOMATON
60108'10 E SC AMB l A COUNTY BANK
60l0'i2:0 FAR"IERS ANO MERCHANTS BANK FOLEY
6010G22 SOUTH BALOWI N BANK
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FORT PAYNE
60I0S25 FORT PAYNE BANK
6010930 FORT DEPOSIT BANK
FCRT DE POSIT
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601Qq90 EAST GADSDEN BANK
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60l0'NS AMERICAN BANK
GENE VA
6011000 CITIZENS BANK
GREENVILLE
6011055 GP:EE.•nfJLLE BANK
601 IOSO I ST Al BANK Of GUNTERSVILLE GUNTERSVILLE
HALEYVILLE
6011110 TRADERS ANO FARMERS BANK
6011140 CIT I ZENS BANK OF HARTSELLE HARTS£LLE
6011143 FIRST Al BANK OF HARTSELLE HARTSELLE
HEFLIN
6011160 BANK Of HEFLIN
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6011165 BAllK OF HUNTSVILLE
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34024
21242
28540
22737
24032
26687
32458
16584
36175
25302
20833
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58470
31237
18426
18092
27402
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340
362
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298
267
212
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402
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282
587
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308
487
278
312
229
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328
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0
0
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0
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818
29
0
0
0
0
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0
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0
0
0
0
0
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0
0
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0
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0
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0
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Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
NON~EMBER BANKS
DSB
NAME
6011220
6011225
6011237
6011210
601 \ 3JO
6011310
6011350
6011376
6011420
6011460
6011410
6011505
6011550
6011565
6011585
6011590
6011610
6011640
6011649
6011130
6011140
6011180
6011185
6011860
6011920
6011935
6011970
60120~0
6012125
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JACKSON BANK AND TRUST CO
JACKSON
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JACKSON
CENTRAL BK CF WALKER CTY
JASPER
BANK OF LEXINGTON
LEX I NGTON
MC HILLAN AND COMPANY BANKERLIVINGSTON
LUVERNE BANK .AND TRUST CO
LUVERNE
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MARION
COM.•ERC I Al GUARANTY BANK
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BANK Uf MOUL TON
MOUL TON
CIT 1Z ENS BANK
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BANK OF EAST ALABAMA
OPELIKA
BANK Of OZARK
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PEOPLES BAl'IK
PELL CITY
FtH BANK OF RUSSELL CTY
PHENIX CITY
PHENIX GIRARD BANK
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FARMERS AND MERCHANTS BANK PIEDMONT
BANK OF PRATTVILLE
PRATTVILLE
COO SA VALLEY BANK
RAINBOW CITY
EAST lAUOEROA°LE BANKING CO ROGERSVILLE
CITIZENS BANK AND SAVll'IGS CORUSSElLVILlE
J C JACOBS BANKING CO INC
SCOTTSBORO
C Ill ZENS BANK ANO TRUST CO SELMA
BANK OF SULLIGENT
SULLIGENT
BANK OF TALLASSEE
TALLASSEE
BANK Of THOMASVlllE
THOMA SY I lLE
TROY BANK ANO TRUST COllPANY TROY
BANK Of VERNON
VERNON
CITIZENS BK OF W£TUMPKA Al WETUMPKA
75 BANKS AFFECTED IN STATE
ALASKA BANK CF. COMMERCE
ALASKA PACIFIC BANK
ALASKA STATEBANK
PED Pl ES BANK ANO TRUST co
UNITED BANK ALASKA
B H BEHRENDS BAtlK
67
6
ANCHORAGE
ANCHORAGE
ANCHORAGE
ANCHORAGE
ANCHORAGE
JUNEAU
6 BANKS AFFECTED IN STATE
0
6
-----------------------------
AL
Al
AL
AL
Al
Al
AL
Al
Al
AL
AL
AL
AL
AL
AL
AL
AL
AL
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Al
Al
Al
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Al
Al
Al
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Al
Al
l/l 7119
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121
131
141
TDEP
VLTCSH
1911
REQBAL
NEW
EPA
23446
20138
17827
22204
11850
11821
20390
10466
15553
22615
19112
34313
39381
18146
17640
21856
13907
36125
11195
17941
17002
28569
24795
14813
19184
21026
35249
11216
17380
422
411
682
236
H8
241
323
1160
161
615
382
921
673
411
524
6H
212
686
243
263
345
345
330
308
344
551
519
223
368
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1125
0
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0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
151
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0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
D
0
0
0
0
0
0
0
0
0
0
0
0
0
0
161
DIF
131-UI
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
••
••
•
••
••
•
••
••
•
•
•••
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•
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HAVE NO HEQUREO RESERVE BALANCE
AK
AK
AK
AK
AK
AK
125202
43939
115184
38139
37190
36732
2387
270
1193
460
124
352
0
0
0
0
0
0
2763
671
2100
309
411
0
0
0
0
0
436
0
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
0
0
0
0
0
0
•
•
•
•
....co
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY HOOIFIEO H.R. 1
NONMEMBER BANKS
NAHE
DSB
12040056
12040060
12040062
12040095
12J40J97
12040099
12040129
12H0145
OF
STATE BANK
ARIZONA BANK
CONTINENTAL BANK
GREAT WESTERN BANK t TRUST
THUNDERBIRD BANK
UNI TEO BANK Of ARIZONA
CITY BANK
UNION BANK
111
TOEP
LOCATION
LAKE HAVASU CITY
PHOENIX
PHOENIX
PHOENIX
PHOENIX
PHOENIX
SUN CITY
TUCSON
8 BANKS AFFECTED IN STATE
2
2
Al
AZ
AZ
AZ
Al
AZ
AZ
AZ
25H5
1131864
195072
264 876
57105
391942
17146
101287
l/ 17/19
121
VLTCSH
376
11432
1477
3002
654
3322
133
637
131
1977
REQBAL
141
151
161
NEW
EPA
NEW
REQBAL
131-151
OIF
0
0
0
0
0
5228
5200
5159
1100
5153
0
0
9820
-9820
0
0
0
0
3362
0
0
0
0
0
0
0
36299
1928
4132
-36299
-1928
-H32
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
--------------- --------------- ---·---8050020
8050030
8050040
8050050
8050140
8050145
8050150
80~0155
80502JO
8050220
8050230
805026C
8050270
805J325
8050335
BANK CF AMITY
CITIZENS FIRST STATE BANK
ELK HORN BANK AND TRUST CO
MERCttANTS ANO PLANTERS BANK
BENTON STATE BANK
UNION BANK
BANK OF BENTONVILLE
CITIZENS BANK
CITIZENS BANK
BANK OF BRINKLEY
BANK OF CABOT
•ERCHANTS AND PLANTERS BANK
CITIZENS BANK & TRUST
ARKANSAS STATE BANK
CLINTON STATE BANK
8050350
8050310
8050380
8<l50420
8050430
8050410
8050500
CORNING BANK
DANVILLE STATE BANK
BANK OF OAROANELL.E
FARMERS ANO MERCHANTS BANK
OE WITT BANK ANO TRUST CO
MERCHANTS AND FARMERS BANK
EXCHANGE BANK UID TRUST CO
00~0345 FIRST STATE BK ANO TR CO
8050620 FORDYCE
BANK ANO TRUST CO
8050640 PLANTERS BANK AND TRUST CO
80~0110 BAUK OF GRAVEllE
80507)0 FAR~ERS BA~K
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8050850 CLEBURllE COUNTY BANK
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BENTON
BENTON
BENTONVILLE
BENTONVILLE
BOONEVILLE
BRINKLEY
CABOT
CAMDEN
CARLISLE
CLARKSVILLE
CLINTON
COHWAY
CORNING
DANVILLE
DARDANELLE
DES ARC
DE WITT
DUMAS
El DORADO
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GRAVETTE
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HARR I SBURG
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AR
AR
AR
AR
AR
AR
AR
AR
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AR
AR
AR
AR
AR
AR
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AR
AR
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AR
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AR
AR
AR
AR
AR
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16322
18616
22967
16478
44228
35930
42577
17026
28779
22978
27262
30964
19693
15573
27167
58241
24213
24582
16542
16234
27318
228H
35552
11292
33601
17645
16579
18042
46759
24140
116
249
198
224
D
0
0
0
0
0
0
0
0
0
0
D
160
245
403
2•4
567
701
216
355
361
508
340
307
0
0
0
0
D
0
0
565
0
D
0
832
645
487
164
188
500
831
311
571
123
377
0
0
D.
0
D
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
833
0
0
0
0
0
0
D
0
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0
0
0
0
0
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0
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566
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•
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0
0
0
0
0
380
0
0
0
0
0
0
0
0
0
0
0
0
D
0
0
0
0
0
0
0
0
0
0
0
0
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0
0
0
0
0
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219
0
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•
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.••
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R.
NON'iEMBER SANKS
DSB
NAME
111
TOEP
LOCATION
1/17/79
1
121
VL TCSH
131
10
1911
NEW
EPA
REQBAL
8:>50975 FIRST JACKSONVILLE BANK
aosoqas
aANK Of NORTHEAST ARKANSAS
JACKSONVILLE
JONE SBORO
805tv;!90 CITIZENS BANK OF JONESBORO JONE SBORO
8050998 FIR ST BK AND TR Of JONESBOROJONE SBORO
8051 0J0 "1ERCANTILE BANK
JOtlE SBORO
8051 080 BAI\IK Of LAKE VILLAGE
LAKE: VILLAGE
8051140 BANK OF LI NCCLN
LlNCCLN
805il75 PULASKI BANK AND TRUST co
LI TT LE ROCK
LCNOKE
8051210 FIR ST STATE BANK
HC (RORY
8051220 BAf..K OF MC CRORY
HC GE HEE
8051230 MC GE HEE BANK
8051250 FARMERS BANK AND TRUST co
HAGNOL IA
8051270 8 ANi<. OF HALVE RN
HAL VERN
8051400 UNION SANK Of MENA
MENA
8051420 MONETTE STATE BANK
HONETTE
8051430 CQ~"IERC IAL SANK ANO TRUST tOMONTICELLO
8051440 U"II ON SANK ANO TRUS J co
MONT I CELLO
8051450 FIRST ST ATE BANK
HORR( LTON
805 l4b0 PEOPLES BANK t TRUST CO
HOUNTA IN HOHE
8051480 BANK Cf MONTGOMERY COUNTY
MCUNT I OA
8051500 PIKE COUNTY ~ANK
MURFREESBORO
8051555 MJiCH t PLANTERS BANK
NEWPORT
8:)51560 nn N CI TY BANK
NORTH LITTLE ROCK
8051580 Pl ANTE RS BANK
OSCEOLA
80515'JO BANI". Of OZARK
OZARK
80516?0 SfC UR I TY BANK
PARAGOULD
8051710 BANK CF POCAHONTAS
POCAHONJAS
BOSl 750 FAR"IERS AND .'1ERCHANTS BANK
PRAIRIE GROVE
8051 760 BANK Of PRESCOTT
PRESCOTT
8051815 FRMS t. MRCH BANK
ROGERS
8051858 f IRS T SECURITY BANK
SEARCY
B05leso GRANT COUNTY BANK
SHERIDAN
805\90~ AJ/.K ANS AS ST ATE BANK
SILOAM SPRINGS
8051920 St1A(.KOVER ST AlE BANK
SMACKOVER
8051960 FIRST ST ATE BANK
SPRI NGO ALE
3052000 fAR~ERS ANO MERCHANTS BANK
STUTTGART
8052040 !3ANK Cf TRUMANN
TRUMANN
8U52090 Cl TllENS BANK ANO TRUST co VAN BUREN
8052100 PEOPLES BK C. TR CO
VAN BUREN
8052130 BANK OF WALDRON
WALDRON
8052160 WARREN 8ANK & TRUST CO
WARR EN
8052170 B~'IK CF WEINER
WE INER
8052175 MERCHANTS ANO FARMERS BANK WEST HELENA
8052190 BANK OF WEST MEMPHIS
WEST MEMPHIS
8052240 CROSS COUNTY BANK
WYNNE
8052260 BANK OF YELLVILU:
YELLVILLE
OF
76 BANKS AFFECTED IN STATE
64
12
AR
AR
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..
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
---------------------------------------------------------------------------------------------------------------------
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TD BANKS COVERED BY MODIFIED H.R. 1
HEHBER BANKS
Ill
DSB
9274105
9274110
9274155
92741 d5
9274210
927'235
9274420
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9274535
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9275700
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SECOND NW NB DF HINNEAPOLS HINNEAPOL IS
HINNEAPOtlS
THIRD NW NB OF HINNEAPOLS
1ST NB IN MONTEVIDEO
MONTEVIDEO
FIRST NATIONAL BANK
MONTGOMERY
FIRST NB IN MOORHEAD
HOO RHEAD
HORA
PEOPLES NATIONAL BANK
FI DELI TY ST BK OF NEW PRAGUENEW PRAGUE
FIRST NATL BK OF NORTHFIELD NORTHFIELD
NORTHFIELD
NORTHFIELD NATIONAL BANK
NORTHWESTERN STA TE BANK
NORTHFIELD
VALLEY NATIONAL BANK
NOR TH MANKATO
TRI CTY ST BK OF GRTONVILLE ORTONVILLE
OSAKIS
FIRST NAT BK OF OS~KIS
FIRST NH BK OF CWATONNA
CWATONNA
NOR lHSESTERN NB OF O•ATONNA OWATONNA
PARK RAPIDS
CITIZrnS NB OF PARK RAPIDS
FIRST NAT BK OF PINE CITY
PINE CITY
F !~ST NB OF PIPESTONE
PIPESTONE
PI PESTONE NA Tl 0'1AL BANK
PIPESTONE
PLAINVIEW
FIRST NB OF PLAINVIEW
PEOPLES STATE BANK
PLAINVIEW
FIRST NW NB OF RED WING
RED WING
GOOOHUE CTY NB OF RED WING RED WING
FIRST NORTHWESTERN NAT BK
REDWOOD FALLS
SUM"IIT ST BK OF RICHFIELD
RICHF IELO
ROCHESTER
FIRST NB OF ROCHESTER
NW NB OF ROCHESTER
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FIRST NB IN ST CHARLES
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f I RST AM~R NB OF ST CLOUO
ST CLOUD
ST CLOUD
ST CLOUD NAT BK & TR CO
ZAPP NATIONAL BANK
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ST JA~ES
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ST LOUIS PARK
PARK NATI0.'1-IAL PARK
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218
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338
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0
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Federal Reserve Bank of St. Louis
111
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NAME
9276200 FIRST NB Of VIRGINIA
9276210 NW STATE BK OF VIRGINIA
9276240 FrnST NB BK OF WACONIA
9276250 FIRST NB OF WAOENA
92762&0 WADE~A STATE BANK
9Uo262 PL4Z4 PARK STATE BAN~
92 762 70 FIR ST NS Of WALKER
9276350 FIRST NAT BK OF SASECA
0276565 CITllENS NB OF WILLMAR
9276570 FIRST NB OF ~ILLMAR
02 76590 FIRST NB OF WIN00~
9276610 FIRST NORTHWESTERN NAT BANK
9276640 MERCHANTS NB OF WINONA
qz76650 WINONA NAT & SAVINGS BK
9276685 FIRST NB IN WORTHINGTON
OF
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LOCATION
HN
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WACONIA
WADENA
WADENA
WAITE PARK
WALKER
WASECA
WILLMAR
WILLMAR
WINDOM
WINONA
WINONA
WINONA
WORTHINGTON
154 BANKS AFFECTED IN STATE
68
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FIRST NAT BANK OF JACKSON
C0HSfRC I Al NB ANO TRUST CO LAUREL
FIRST NATIONAL BK Of LAUREL LAUREL
LEXINGTON
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PASCAGOULA HOSS POINT BANK
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fJRSl NATIONAL BANK
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FIRST NAT BA~K Of OXFORD
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0
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HAVE NO REQUREO RE SERVE BALANCE
------------------------------------6280165
8280325
8280300
82804()0
8280425
1111119
BENEFIT TO BANKS COVERED BY ~O0IFIE0 H.R. 7
MEMBER BANKS
-----------HS
HS
HS
HS
HS
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HS
HS
HS
HS
HS
MS
HS
MS
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MS
HS
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MOOIFIEO H.R. T
NON~EHSER SANKS
DSB
12060013
120~0018
12060047
120,0075
12060145
12060167
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12060702
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12060706
12060708
12060713
12060718
12060119
12060744
I 2060 74 5
12060756
12060763
NAME
CONTINENTAL BANK
HER IT AGE DANK
MID&STATE BANK
CAllFORNIA REPUBLIC BANK
SHASTA COUflTY BANK
CHINO VALLEY BANK
CITIZENS M OF COSTA MESA
~A"K CF DOWNEY
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FIRST SECURITY BANK
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BANK CF LOLETA
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CHINO
COST A MESA
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FORl JONES
FDR TUNA
fRE:--tOtH BANK
FREMONT
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GAVILAN BM<K
GILROY
GRASS VALLEY
Gf.lLO COUNTRY BANK
HAWTHORNE
cc••oNWEAL TH SANK
SAW<: OF HEMET
HEHET
PACIFIC CITY BANK
HUNllNGTON BEACH
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HUNT ING TON PARK
BANK CF IRVINE
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LA JOLLA
lA JOLLA BANK &TRUST co
BANK OF LAKE COUNTY
LAKEPORT
GROSSMONT BANK
LA MESA
CC AST DANK
LONG BEACH
HARBfJR BANK
LONG BEACH
AMERICAN CITY BANK
LOS ANGELES
BANK OF FI NANCE
LOS ANGELES
CAll FORNIA KOREA SANK
LOS ANGELES
CAl IFORNlA OVERSEAS BANK
LOS ANGELES
CATHAY BANK
LOS ANGELES
CENTURY BANK
LOS ANGELES
FIRST LOS ANGELES BANK
LOS ANGELES
FIRS! PACIFIC BANK
LOS ANGELES
Gil SORE CO"H~RCUL & SVGS BKLOS ANGELES
IMPERIAL BANK
LOS ANGELES
l!'IDEPENOENCE BANK
lOS ANGELES
LOS ANGELES
JAPAN CALIFORNIA SANK
LLOYDS BAIIK CALIFORNIA
LOS ANGELES
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MANUFACTURERS BANK
LOS ANUELES
HITSU81SHI SANK OF CALIF
MITSUI BANK Of GA
LOS ANGELES
TOUI BK Of CALIFORNIA
LOS ANGELES
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TRANS-WORLD BANK
WE STERN BANK CF COMMERCE
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FIRS! SlATE BK OF SOUTH CA LYWOOO
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0
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NON~EMBER BANKS
DSB
12060800
12060880
17.060884
12060885
1206oq42
I2J61010
120H048
12061D60
12061118
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12061489
12061525
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12061549
12061555
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12061670
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NAHE
BENEFIT TO BA!lKS COVERED BY MODIFIED H.R. 7
Ill
TDEP
LOU Tl Oft
CENTER STATE BANK
MODESTO
NA PA VAllEY BANK
NAPA
&HER ICAN STATE BANK
NEWPORT BEAtH
BANK OF NEWPORT
NEWPORT BEAtH
FIRST ENTERPRISE BANK
OAKLAND
BANK OF A LEVY
OXNARD
tAMINO-CALIFORNIA BAftK
PALO ALTO
Cl CM TR&SVG BK Of PASADENA PASADENA
VALENCIA BANK
PLACENTIA
NORTH VALLEY BANK
REDDING
BAIIK OF REDLANDS
REDLANDS
MECHANICS BANK
R ICH~OND
BA'IK OF RIO VISTA
RIO VISTA
FIRST CITY BANK
ROSEMEAD
CITIZENS BK CF ROSEVILLE
ROSEVILLE
CAPITOL BANK CF COMMERCE
SACRAMENTO
RIVER CITY BANK
SACRAMENTO
PENINSULA BK OF SAN DIEGO
SAN DIEGO
SAN DIEGO TRUST & SAYINGS BKSAN DIEGO
AMERICAN ASIAN DANK
SAN FRANCISCO
BANK OF CANTON OF CALIFORftlASAN FRANCISCO
BANK GF MONTREAL CALIFORNIA SAN FRANC I SCD
BANK OF THE ORIENT
SAN FRANCISCO
BK OF TRADE OF SAN FRANCISCOSAN FRANCISCO
BARCLAYS BANK OF CALIF
SAN FRANCISCO
CALIFORNIA CANADIAN BANK
SAN FRANCISCO
CALIFORNIA FIRST BANK
SAN FRANCISCO
CHARTERED BANK OF LONDON
SAIi FRANCISCO
COM~ERC!Al BANK OF SAN FRAN SAN FRANCISCO
FRE"ICH BANK OF CALIFORNIA
SAN FRANCISCO
HIBERNIA 8A'IK
SAN FRANCISCO
HONGKO•IG BK OF CALIFORftlA
SAN FRANCISCO
PHILIPPINE BANK OF CALIF
SAN FRANCISCO
Rrnwooo BANK
SAN FRANCISCO
SAtlWA BK OF CALIFORNIA
SAN FRANCISCO
SU~ITOMO BANK OF CALIFORNIA SAN FRANCISCO
TORO•ITO DOMINION BK OF CALIFSAN FRANCISCO
WESTERN BRADFORD TRUST CO
SAN FRANC I SCD
COM~UNITY BAll,K OF SAN JOSE SAN JOSE
PACIFIC VALLEY 8ANK
SAN JOSE
FIRST CENTRAL COAST BANK
SAN LUIS OB I SPD
BANK OF MA~IN
SAN RAFAEL
SANTA ANA
WESTLANOS BANK
SANK OF SA>HA CLARA
SANTA CLARA
SANTA MONICA BANK
SANTA MONICA
SANTA ROSA
BANK OF SONOMA COUNTY
tA
tA
tA
tA
CA
tA
CA
CA
tA
CA
CA
CA
CA
CA
tA
CA
tA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
tA
CA
CA
CA
CA
CA
CA
tA
CA
1/11/19
IZI
VLTtSH
35768
955
31869
35012
94670
22314
l8H90
22516
22541
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61'78
2957'1
32963
187787
115207
20182
163190
64176
184
914
146
2513
233
216
131
1911
141
NEW
REQBAL
EPA
0
0
0
0
0
497
D
0
0
0
0
246
D
2830
122
1337
249
114
0
534
1558
172
12881
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525
168
446
132
5704
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123
201
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594
935
7782
116
2
1002
130
1026
1400
154
314
1816
1108
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D
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221
2287
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5101
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0
750
0
18
5119
24
2070
4
242
573
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5053
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0
0
0
0
0
0
0
0
0
0
0
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250
1949
0
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5238
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112
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532
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5112
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l&I
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131-151
0
0
0
0
0
0
0
0
lH
0
-154
D
0
0
0
1068
0
0
0
0
0
0
3548
0
2175
0
0
0
15120
7281
70327
3854
0
41
7HO
376
0
0
6281
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0
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0
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1710
720
0
258
0
0
0
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0
0
0
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-1068
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0
0
0
0
0
-3548
0
-2115
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0
0
-15120
-7281
-70327
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Federal Reserve Bank of St. Louis
NONHEMBER BANKS
BENEFIT TO BANKS COVEREO BY MODIFIED H.R. 7
Ill
NAME
DSB
12061690
12061730
12061169
12061710
12061180
12061852
12061856
12061860
12061SS5
12061922
12061924
12061926
12061930
12%1980
Of
EXCHANGE BANK
SANTA ROSA
HO~E BANK
SIGNAL Hill
SANK OF AG~ICULTURE AND COMHSTOCK TON
BANK Of STOCKTON
STOCKTON
UNIO~ SAFE DEPOSIT BANK
STOCKTON
ELDORADO BANK
TUSTIN
SA'IT IAGO BANK
TUSTIN
SAVltlGS BK OF MENDOCINO CTY UKIAH
VACA VALLEY BANK
VACAVILLE
SOUTHWEST BANK
YI STA
A~FRICAN BANK £ TRUST co
~ALNUT CREEK
BANK Of CONTRA COSTA
WALNUT CREEK
BANK Of ALEX BROWN
WALNUT GROVE
BANK Of WILLITS
WILLI TS
106 BANKS AFFECTED IN STATE
------------10080034
100 80038
10080050
lOOS0011
10080079
100 SO IZ8
10080133
10080140
10080210
100802'4
100~0245
10080296
1000,0JOO
10080HO
10080340
10080352
I 008036 I
l00!:!0390
10090455
10080495
10080499
10080495
100804H
10080500
LOCATION
31
4T
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
1/17/79
TDEP
121
Yl TCSH
l6H12
91333
21791
169818
126585
36967
53323
72258
31233
133354
15165
27838
51916
16646
1825
1789
444
1864
1000
454
554
1225
801
2214
116
348
496
336
131
1971
REQBAL
D
0
0
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
5106
1943
0
4165
3114
451
.930
694
0
3557
0
0
691
0
151
NEW
REQBAL
22
0
0
4H
140
0
0
0
0
0
0
0
0
0
161
DI f
131-151
-22
0
0
-441
-140
0
0
0
0
0
0
0
0
0
.•
•
•
•
•
••
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQ\JRED RESERVE BALANCE
_________ ,._________________ . ----------------------------------------------------------------
ARAPAHOE BANK ANO TRUST
ARAPAHOE COUNTY
ARVADA STATE BANK
ARVADA
BANK OF ASPEl'l
ASPEN
AURORA
PEOPLES BANK £ TRUST CO
UNITED BANK OF AURORA
AURORA
U~I TEO BANK Cf BOULDER
BOULDER
UNITED BK OF BROOHFIELD
BROOHFI ELD
FAR,.ERS STATE BANK
BRUSH
CASTtE RCCK
8ANK CF OOUGlAS COUNTY
A•ERICAN HERITAGE BK £ TR COCOLCRADO SPRINGS
CENJRAL COLORADO BANK
COLORADO SPRINGS
UNITED BK OF COlORAOO SPGS COLCRADO SPRINGS
CITIZENS STATE BANK
CORTEZ
MOFFAT COUNTY STATE BANK
CRAIG
COLORADO 8K t TR CO
DEL TA
BANK Of DENYER
DENVER
CENTURY BA~K AtlD TRUST
DENVER
COLORADO STATE 8ANK
DENVER
GUARANTY BANK ANO TRUST COHPDENVER
DENYER
HOUNJAIN STATES 8ANK
HI O STA JES BANK
OENVER
DENVER
NOR JH DENVER BANK
SOUTHWE 51 STATE 8ANK
DENVER
UNIO~ BANK£ TRUST
DENVER
NI
0
~
co
co
co
co
co
co
co
co
co
co
co
co
co
co
co
co
co
co
co
co
co
co
co
co
23026
35926
34242
293
467
B16
54523
7Zl
268\ 7
51528
25430
18059
18061
23024
66557
31146
16751
35354
28242
35186
24368
73l21
B0686
66~~4
25833
36153
36188
50117
H5
1010
600
130
115
399
1027
787
270
216
272
6ll
316
1265
366
642
349
599
743
407
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
610
0
250
0
0
0
0
1040
0
0
138
0
0
0
1308
1963
1316
0
0
0
806
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
•
•
•
•
•
•
•
•
•
•
.
.
•
•
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•
•
•
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NON~EMBER BANKS
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
,·11
DSB
10080528
100807 H
10030820
10080926
100~10l5
10081050
10091074
10031005
10081115
10oe 1zqo
1~081300
!OOSIJ05
10081423
OF
NAME
BANK Cf DURANGO
BANK Of GLENWOOD
UN I TEO BANK OF GREELEY
CHATFIELD BANK
JEFFERSON BANK & TRUST
CCMMERCIAL BK OF LEADVILLE
U~ITEO BANK OF LITTLETON
UNI TEO BANK CF LONGMONT
HOME STATE BANK
M!.~'IE QUA BANK
PUEBLO BANK & TRUST CO
UNI TEO BANK OF PUEBLO
BANK OF VAil
LOCATION
TDEP
DURANGO
GLENWOOD SPRINGS
GREELEY
JEFFERSON COUNTY
LAKEWOOD
LEADVILLE
LI TH ETON
LONGMONT
LOVE LANO
PUEBLO
PUEBLO
PUEBLO
VAil
37 BANKS AFFECTED IN STATE
24
13
co
co
co
co
co
co
co
co
co
co
co
co
co
231H
16681
55541
22174
113860
17437
498)3
19356
21772
43234
54668
32121
22899
1/17/79
121
VL TCSH
355
222
484
131
141
l•HT
NEW
REQBAL
EPA
0
0
0
D
0
973
0
3838
377
0
792
0
288
463
334
188
663
739
399
1127
0
0
0
0
0
0
0
0
15 I
NEW
REQBAL
0
0
0
0
0
0
0
674
0
0
0
0
0
0
0
0
0
143
618
0
0
161
DIF
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
•
•
•
•
•
.••
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
-----------------------------------------------------------------------------------------------N)
2090093
2090115
1090205
2090270
1090466
1090470
2090500
1090523
1090530
1090595
1090665
1090710
1090180
1090980
1091070
1091110
l091lll
1091198
1091225
2091240
lOOIJ30
1091420
2091440
1091450
1091460
CITYTRUST
BRIDGEPORT
lAHYETTE BANK ANO TRUST CO BRIDGEPORT
CHE STER BA~K
CHESTER
DANBURY BANK & TRUST COHPANVOAN9URY
CTZNS BK & TC OF GLASTONBURYGlASTONBURV
GlA STONBURY BANK ANO TR CO GLAS TON BURY
GREENWICH
PUTNAM TRUST CO
CHARTER OAK BK & TR CO
HARTFORD
HARTFORD
CONSTITUTION BANK & TR CO
HARTFORD
GUARANTY RANK & TRUST CO
HARTFORD
UNITED BANK ANO TRUST CO
SALISBURY BANK & TRUST CO
LAKEY lllE
HOME BANK ANO TRUST COMPANY MERIDEN
NEW BRITAIN BANK ANO TR CO NEW BRITAIN
FIRST BANK
NEW HAVEN
SECOND NEW HAVEN BANK
NEW HAVEN
UNIO~ TRUST COMPANY
NEW HAVEN
NEW MILFORD SK ANO TR co
NEW MILFORD
co.~HUNITY BANKING co
NOR TH BRANFORD
MERCHANTS BANK ANO TRUST co NORWALK
PLAINVILLE TRUST COMPANY
PLAINVlllE
SEY~OUR TRUST COMPANY
SEYMOUR
VALLEY BANK+ TR CO
SHH TON
SIMSBURY BANK ANO TRUST CO
SIMSBURY
SOUTHINGTON BANK & TRUST CO SOUTHINGTON
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
CT
487264
68123
24436
26886
30148
41399
155375
33486
39582
33464
166893
18686
64907
68338
359894
261937
807163
16434
45668
64138
39012
351.61
1TH3
55411
25218
7429
1597
158
449
694
746
1584
595
989
576
28 52
264
1407
1131
86H
6656
177 21
288
1243
1379
893
126
397
662
955
0
0
0
0
0
0
0
0
0
0
0
0
5132
993
106
o.
0
0
0
5127
177
0
0
0
0
0
0
4856
0
822
1487
0
0
0
0
0
5112
5105
5240
0
0
0
1134
0
0
0
0
0
0
0
0
37
0
0
10987
0
0
0
862
0
0
0
0
0
5415
922
21582
0
0
0
0
0
0
0
0
-10987
0
0
0
0
0
-111
0
0
0
0
0
0
0
-5415
-922
-21582
0
0
0
0
0
0
0
0
0
•
•
•
.
•
•
•
•
••
..•
•
N)
IION~EHBER BANKS
.
0
'
<0
NANE
DSB
1/17/79
BENEFIT TO BANKS COVERED BY HODIF IEO H.R. T
LOCATION
Ill
TDEP
121
VLTCSH
20517
lD9587
34H5
15459
453184
57358
8293"
55381
21622
630
1387
~
.
131
1977
REQBAL
141
NEW
EPA
151
NEW
REOBAL
161
DIF
131-151
0
<0
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1091505
2091528
2091530
1091610
1onno
1091755
2091800
1091820
1091882
OF
SOUTH WINDSOR BK , TR CO
FIDELITY TRUST CO
FIRST STAMFORD BANK C TR tO
TERRYVILLE TRUST COMPANY
COLONIAL BANK AND TRUST CO
HA TTATUCK BANK C TRUST tO
WESTPORT BANK C TRUST tD
WILLIMANTIC TP.UST COMPANY
NORTH AMERICAN BANK C TR to
SOUTH WINDSOR
STAHFORD
STAMFORD
TERRYVILLE
WATERBURY
WATERBURY
WESTPORT
WllllHANTIC
WOLCOTT
34 BANKS AFFECTED IN STATE
16
12
CT
CT
CT
CT
CT
CT
CT
CT
tT
480
571
7916
1031
1010
B49
281
0
0
0
0
0
0
0
0
0
0
2800
0
0
5172
468
2105
706
0
0
0
0
0
8806
0
0
0
0
0
0
0
0
-8806
0
0
0
0
•
•
•
•
•••
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
------------------------------------------------3100050
3100145
3100180
3100280
3100325
3100360
3IOH85
3100410
OF
FARHERS BK OF THE ST OF DEL
SUSSEX TRUST CDHPANY
MILFORD TRUST CONPANY
BALTIMORE TRUST COMPANY
B4NK OF DELAWARE
DELAWARE TRUST COMPANY
PEOPLES BANK C TRUST CO
Wll~INGTON TRUST COMPANY
OCVER
LAUREL
MILFORD
SELBYVILLE
WILMINGTON
WILMINGTON
WILHINGTON
WILHINGTON
8 BANKS AFFECTED IN STATE
2
2
OE
OE
DE
DE
DE
DE
DE
DE
314591
79261
18829
. 48208
524384
43B402
2587B
882559
6308
1033
2DO
847
8081
600
925
8115
0
0
0
0
0
0
0
0
5160
1090
0
60
5315
5157
0
SHI
6793
0
0
0
13511
10183
0
35569
-6793
0
0
0
-13511
-10183
0
-35569
••
•
HAVE NO EARNINGS PARTICIPATION. Acc·ouNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
----------- . ----------------------5110070 INDUSTRIAL BK OF WASHINGTON WASHINGTCN
OF
I BANKS AFFECTED IN STATE
I
0
DC
49730
1246
0
0
-------------- ----------------------------------------6120030
6120042
6120050
6120060
STATE BANK OF APOPKA
FIRST STATE 8ANK OF ARCADIA
SUN BANK OF AUBURNDALE
AVO'I CITRUS BANK
APOPKA
ARCADIA
AUBURNDALE
AVO'I PARK
0
0
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
Fl
Fl
Fl
Fl
38845
15103
24140
25939
-------------698
34'1
531
438
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
•
•
•
•
~
0
c,.,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NON"EHBER BANKS
DSB
6120065
6120074
6120078
6120079
6120090
6120100
6120105
6120125
6120140
6120141
6120155
6120157
6120164
6120175
6120190
6120197
6120lq8
6120199
6120202
6120204
6120'236
6120254
6120257
6120260
61202~5
6120290
6120292
6120293
&120~94
61203JO
6120304
6120330
6120331
6120335
6120336
6120365
6120370
6120382
6I203S5
6120397
6120400
6120431
612044I
6120442
6120443
6120449
NAME
BENEFIT TO BANKS COVERED BY HOOi F IEO H.R. 7
111
TOEP
lDCATION
CITRUS & CHEHICAl BANK
BARTOW
BARNETT BANK OF BAVSHORE
BAY SHORE GARDENS
BANK OF BEllEVIEW
BELlEVIEW
BANK OF BELLE GLADE
BELLE GLADE
ELLIS BANK OF BLOUNTSTOWN
BLOUNTSTCWN
BANK CF BONIFAY
BONIFAY
FIRST BK&TR OF PALM BCH CTY BCYNTON BEACH
BRANDON STATE BANK
BRANDCN
HERNANDO STATE BANK
BROOKSVILLE
BARNETT BANK OF JACARANDA
BROWARD COUNTY
FLORIDA BANK AT BUSHNELL
BUSHNELL
CAPE CORAL BANK
CAPE CORAL
COHBANK/CASSELBERRY
CASSELBERRY
LEVY COUNTY STATE BANK
CHI EFL ANO
BANK OF CLEARWATER
ClEARWATER
COSSUNITY BK OF CLEARWATER CLEARWATER
CLEARWATER BEACH BANK
CLEARWATER
EXCHANGE B&TC OF CLEARWATER CLEARWATER
CLEARWATER
FLORIDA BANK OF COHHERCE
NORTHEAST BANK OF ClEARWATERClEARWATER
BARNETT BK OF COLLI ER CTY
COLLI ER COUNTY
SUN BANK OF HIAHI
CORAL GABlES
BANK OF CORAl SPRINGS
CORAL SPRINGS
FLGSHP PPLS BK OF CRSCNT CY CRESCENT CITY
CRYSTAL RIVER BANK
CRYSTAL RIVER
BANK CF PASCO COUNTY
DADE CITY
SOUTHEAST BANK OF OADElAND DADE COUNTY
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6120490
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6120514
6120530
6120556
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FLAGSHIP BANK OF FORT HYERS FDRT HYERS
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SUN BANK OF ST LUCIE COUNTY FDRT Pl ERCE
BARNETT BANK OF FORT WAL TON FORT WAL TON BEACH
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NON.~EMBER BANKS
JACKSONV Ill E
All BK LAKE FOREST
JACKSONVILLE
All BK SO JACKSONVILLE
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BARNEil BANK OF MURRAY Hill JACKSONVILLE
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BA•~ETT BANK OF SAN JOSE
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EXCHANGE BANK OF OSCEOLA
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FLAGSHIP BANK OF LAKE AlFREDlAKE ALFRED
LAKE Cl TY
ST ATE EXCHANGE BANK
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BA•NETT BK OF LAKELAND
LAKELAND
1'1PER1AL BANK OF LAKELAND
LAKELAND
PEOPLES BA~K OF LAKELAND
LAKE Pl AC 10
F1"ST BANK OF lAKE PLACID
ATlMHIC B&T OF LAKE I/ALES LAKE WALES
LANTANA
FIR ST STATE SANK
LARGO
BANK OF INOIAN ROCKS
LARGO
ATLANTIC BANK Of LARGO
SOUTHEAST FIRST BK OF LARGO LARGO
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BENEFIT TO BANKS COVEREO BY HODIFIED H.R. 7
NON~EHBER BANKS
TOEP
LOCATION
SUN BANK OF LAUDERDALE BEACHlORDlE BY THE SEA
COMMUNITY BANK OF LARGO
LARGO
LEHIGH ACRES
CENTURY BANK OF LEE COUNTY
LIVE OAK
FIRST CHRCl BK OF LIVE OAK
LONGBOAT KEY
ELLIS LONGBOAT KEY BANK
MADEIRA BEACH SANK
HAOE IRA BEACH
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H\NA TEE COUNTY
MARATHON 8ANK
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BARNETT BANK OF NAPLES
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NORTH BAY VILLAGE
SOUTHEAST BANK OF NEW SMYRNANEW SMYRNA BEACH
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6121277
6121278
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NAME
BENEFIT TO BANKS COVERED BY HOOIFIED H.R. 7
LOCATION
EXCHANGE BANK OF DUNEDIN
Pl NELLA S COUNTY
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BARNETT BANK OF PLANT AT ION PLANT AT ION
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PAN AMERICAN BK IN SARASOTA SARASOTA
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SOUTHEAST BArlK OF SEBASTIAN SEBASTIAN
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FLORIDA BA~K AT STARKE
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Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
IION"EMBEA B•NKS
111
NAME
DSB
LDUTID!'l
TDEP
1/11119
121
VL TCSH
131
1911
REOBAL
612I52B
6121529
6121535
6121540
6121543
612155 7
6121558
6121570
6121590
6121588
6121590
6121593
6I2I6JO
6121610
6121615
6121622
6121623
6121625
6121628
6121631
6121700
6121705
6121730
6121732
OF
SUN BANK OF TAMPA BAY
u•UVERSITY STATE BANK
ELLIS SPRINGS BANK
FLAGSHIP BANK OF TAVARES
EXCHANGE BK OF TEMPLE TERR
SCUTHEAST BK OF Tl lUSVILLE
FIRST BANK OF TREASURE ISL
USATILLA STATE BANK
VALPARAISO BANK t TRUST CO
S8UPlEAST BANK Of VEl'IICE
VENICE JlOKOHIS OANK t TR CO
BEACH BAN< OF VERO BEACH
1ST CITRUS BK IND RIV CTY
WAUCHULA STATE BANK
MERCHANTS BANK Of MIA~I
BARl'IETT BK OF WEST PALM BCH
CENTRAL eK OF PALM BCH CTY
Cl IIZENS BANK OF PAUi BEACH
FLAGStHP BK Of W PALM BEACH
HALL BANK
COMaANK/WINTER PARK
SOUTHEAST BEACH STATE BANK
CITIZE~S BANK OF PASCO
FLAGSHIP BK OF ZEPHYRHILLS
212 BANKS AFFECTED Ill STATE
-----------------------6130100
6130110
6130118
6130139
6130150
6130160
6130180
6I30MO
6130200
6130370
6130375
6130380
6130430
6130455
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VAL PARA I SO
VENICE
VENICE
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VERO BEACH
WAUCHULA
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WEST PALM BEACH
WEST PALM BEACH
WEST PALM BEACH
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441
830
1169
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415
386
311
1111
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0
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209
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----------------
----------------------
CTZ ANO SGUTHRN BK OF ALBANYALBANY
FIRST STATE BANK AND TR CO ALBANY
sec BK & TR co OF ALBANY
ALBANY
FULTON COUNTY BANK
ALPHARETTA
BANK OF COMMERCE
AMERICUS
CITIZENS BANK OF AM£RICUS
AMERICUS
ASHBURN BANK
ASHBURII
CITIZENS BANK
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CT Z t SOUTHERN DEKALB BK
CTZ BK t TR CO OF BAINBRIOGEBAINBRIDGE
BAXLEY STATE BANK
BAXLEY
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GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
90734
78217
23988
19812
34844
28713
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21898
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24961
24002
16891
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200
258
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336
536
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Federal Reserve Bank of St. Louis
NONMEMBER BANKS
NAME
OS8
1/11/79
BENEFIT TO BANKS COVERED BY HOOIFIEO H.R. 7
111
TOEP
LOCATION
121
VL TtSH
131
141
1977
NEW
EPA
REQBAL
6130480
6130630
6130670
6110680
6130690
6130710
6130745
6130750
6130790
6130820
6130823
6130890
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6131010
6131020
6131030
6131050
6131090
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6131110
6131130
6131150
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6131275
6131277
6131280
6131290
6131300
6131305
6131320
6131330
6131340
6131355
6131410
6131430
613I4SO
6131484
613l4S6
6131550
6131600
6131620
61316!5
6131640
6131655
FANNIN tOU~TY BANK
CAIRO BANK ING COMPANY
PLANTERS ANO CITIZENS BANK
BANK OF CANTON
ETOWAH SANK
PEOPLES BANK
PEACHTREE BANK ANO TRUST co
COHUTTA 8A~K I NG COHPANY
HABE• SHAH BANK
BA~K OF CLAYTON
PEOPLES BANK
COLUSBUS BANK ANO TR CO
TRUST COMPANY OF COLUMBUS
CORDELE BANKING COMPANY
FIRST STATE SANK IN CORDELE
COR'IEL IA SANK
SANK Cf COVINGTON
BAN~ Of CUMMING
FORSYTH COUNTY SANK
BANK OF DAHLONEGA
BANK Of DAL TON
HARDWICK SANK & TRUST co
BA'JK OF DAWSON
BANK Of TERRELL
Cl TIZENS & STHRN EMORY BANK
FAR~ERS BANK
CITIZENS SANK
COMAERCIAL BANK
CTZ & SOUTHERN BK OF DUBLIN
FARMERS ANO MERCHANTS BANK
,SORRlS STATE BANK
SANK OF DULUTH
BANK Cf EASTMAN
CITIZENS BANK & TRUST CO
CTZNS & SO BK OF FULTON CTY
GRANITE CITY BANK
BLUE RIDGE
CAIRO
CAMILLA
CANTON
CANTON
CARROLL TON
CHAMBLEE
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GLENNVILLE BANK ANO TRUST COGLENNVI lLE
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CITIZENS UNION 8A~K
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COMSERCIAL BANK ANO TRUST COGRlfF IN
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GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
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357
359
282
678
454
1207
1290
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507
400
254
3592
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445
560
503
406
296
295
310
616
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351
276
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0
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0
0
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0
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Federal Reserve Bank of St. Louis
NO'l<EMSER BA'IKS
OSB
NAME
1111119
BENEflT TO BANKS COVERED BY MODIFIED H.R. 7
LDCATICN
Ill
121
TOEP
VL TC.SH
131
1911
REQBAL
~l31M5
6131710
6131800
61 31820
6131850
6131990
6131900
6131915
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61'320'10
6132105
6132115
6132160
6132175
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6132250
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6132300
6132343
6132350
6132410
6132440
6132597
6132630
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6132693
6132685
6132705
6132710
6132135
6132737
6132740
6132750
6132 765
6132110
6132,25
6132932
6132937
6132990
6133010
6133020
6133030
6133060
6133070
CAPITAL CITY BANK
HAPEVILLE
CITIZENS & SO BK OF HART CTYHARTIIELL
C + S BANK
JACKSON
JASPER
JASPER BANKING COMPANY
JONESBORO
TA UST CO BK OF CLAYTON CTY
BA'IK OF LA FAYETTE
LA FAYETTE
C & S AANK OF WEST GEORGIA LA GRANGE
LA GRANGE
PEOPLES BANK OF LA"GRANGE
LAWRENCEVILLE
GWIW<ETT COMMERCIAL BANK
GEORGIA STATE BANK
MABLE TON
CE'ITRAL BANK OF GEORGIA
MACON
MACON
GEORGIA BANK ANO TRUST CO
BANK OF MANCHESTER
MANCHESTER
cc•<ERCIAL BANK OF COBB CTY MARIETTA
FIRST BANK & TRUST CO
MAR I ETTA
METTER BANKING COMPANY
METTER
CTZ&S BK OF MILLEOGEVILLE
MILLEDGEVILLE
EXCHANGE BANK
MILLEOGEVILlE
SlllEOGEVILLE
MERCHANTS ANO FARMERS BANK
MONRCE
FAR"E~S BANK
FIRST BANK OF CLAYTON CGUNTYMORROW
CITIZENS & S BK OF COLQUITT MOULTRIE
NEWNAN
ClZ & SOUlHERN NEWNA'I BK
NORCROSS
C & S BANK OF GWINNETT
COBB COUNTY BANK
POWDER SPRINGS
TA TT NALL BANK
REIDSVILLE
RINGGOLD
NORTHWEST GEORGIA BANK
BANK OF THE SOUTH
RIVERDALE
CLAYTCN COUNTY BANK
RIVERDALE
CIT I Z & SOUTHERN BK ROCKDALEROCKDALE COUNTY
RQC,<;~ART BIHIK
ROCKMART
RO"'lE BA~,tK ANO TRUST co
ROME
ROSSVILLE
ROSSVILLE BANK
ROSWELL BAW<.
ROSWELL
TR I COUNTY BANK
ROH TON
COASTAL BANK OF GEORGI A
ST SIMONS ISLAND
GEO D WARTHEN BANK
SANDERSVILLE
SAVANNAH
FIRST BANK OF SAVANNAH
SMYRNA
COBB BANK+ TRUST CO
SflELLVILLE
GWINEIT COUNTY BANK
C & S BANK OF EFFINGHAM CTY SPRINGF !ELD
FIRST BULLOCH BK ANO TR co STATESBORO
SEA ISLAND BANK
STATESBORO
FAR~ERS ANO MERCHANTS BANK
SU<MERV ILLE
CITIZENS BANK
SWAINSBORO
SYLVANIA
BANK OF SCREVEN COUNTY
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
141
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161
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24350
344
0
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11435
22325
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330
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Federal Reserve Bank of St. Louis
NON.EMBER BANKS
Ill
NAME
DSB
6133075
6133080
6133125
6133130
6133140
6133150
6133160
6133180
6133185
6133190
6133210
6131215
6133270
0133285
6133342
61333'5
6131355
6133360
6133395
6133428
OF
1/17/19
BENEFIT TO BANKS tOVERED BY MODIFIED H.R. 7
LOtATION
TOEP
BANK OF WORTH tOUNTY
SYLVESTER
SYLVESTER BANKING tOMPANY
SYLVESTER
BANK OF UPSON
THOMASTON
CTZ & SUTHRN BK OF THOMASTONTHOMASTCN
C & S BK OF THOMAS CTY
THOMASVILLE
CO~MERCIAL BANK
THOMUVILLE
BAN~ OF THOMSON
THOMSON
C & S BANK OF TIFTON
TIFTON
CITIZENS BANK OF TIFTON
TIFTON
FARMERS BANK OF TIFTON
TIFTON
SA,iK CF TGCCOA
TOCCOA
CIT I ZENS BANK OF TOCCOA
TOCCOA
FAR SERS BA~K
UNION POINT
FIRST STATE BANK
VALDOSTA
C & S BANK OF HOUSTON CTY
WARNER ROBINS
CITIZENS STATE BANK
WARNER ROBINS
FARMERS AND MERCHANTS BANK WASHl~GTON
WASH LOAN & BANK ING CO
WASHINGTON
SOUTHERN BANK
WAYCROSS
BANK OF BARROW
~INOER
126 BANKS AFFECTED IN STATE
108
17
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
18839
20419
19995
30959
40566
H767
27204
30942
22971
26266
26932
25765
18007
30965
24291
32523
16361
19476
30346
26948
121
VLTtSH
352
236
598
543
6H
768
398
383
534
413
485
795
229
528
615
575
265
394
131
1911
NEW
REOBAL
EPA
0
0
0
0
TH
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
376
0
141
151
NEIi
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lf,I·
DIF
131-151
0
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0
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0
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0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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0
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332H
1061
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27242
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HAVE NO EARNINGS PARTltlPATION ACtOUNT OR REQUIRED RESERVE BALANtE
HAVE NO REOURED RESERVE BALANCE
------------------12150020
12150030
1215005 5
12150058
12150065
12150090
OF
AMERICAtl SECURITY BANK
MNK OF HA~All
CENTRAL PAt IF It BANK
tlTY BANK
FIRST HAWAIIAN BANK
LIBERTY BANK
HONOLULU
HONOLULU
HONOLULU
HONOLULU
HONOLULU
HONOLULU
6 BANKS AFFECTED IN STATE
HI
HI
HI
HI
HI
HI
0
3
229078
1175653
272853
151048
1024771
125013
3847
17539
4255
2790
15850
2190
0
0
0
0
0
0
.,012
5145
5166
2745
5156
2302
HAVE NO EARNINGS PARTltlPATlON ACCOUNT OR REQUIRED RESERVE BALANtE
HAVE NO REQURED RESERVE BALANtE
--------------------------------------------12160130
12160243
12160300
12160350
HITER MOUNTAIN STATE 8ANK
BA'IK OF tOMHERtE
FIRST BANK & TRUST tO OF ID
IDAHO BANK AtlO TRUST CO
CASCADE
IDAHO FAUS
MALAD tlTY
POCATEHO
ID
ID
ID
ID
22064
50081
31988
28602
283
518
393
2422
0
0
0
0
0
604
0
5194
0
0
0
H23
0
0
0
-4423
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•
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NONMEMBER BANKS
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
Ill
NAME
DSB
12160365 VALLEY BANK
12160410 FIRST BANK OF TROY
OF
7170680
71 70&90
7170705
8170720
9170725
717J72B
7170765
7170780
7170790
7170925
7170905
117092 5
7171)965
7170995
7171000
AOOISCN STATE BANK
ALGONQUIN STATE BANK
Al SIP BANK
ALTO~ BANKING ANO TRUST co
9A NK CF Al TCN
SThTE BANK OF ANNAWAN
STATE BANK OF ANTIOCH
GERBER STATE BlNK
BK & TR CO OF ARLINGTON HTS
NORTH POINT STATE BANK
NORTHWEST TR & SAVINGS BANK
ASHTON BANK & TRUST CO
STAIE BANK OF AUBURN
FIRST AMER !CAN BK OF AURORA
BAR tLETT StAlE BANK
BA IAVIA BANK
FIRST STATE BANK
BANK OF BELLEVILLE
BANKERS TRUS t COMPANY
BANK OF BELL WOOD
BQO~E SIATE BAllK
u,11 r ED BK OF BELVIDERE
ST ATE BANK OF BEMENT
BENSENVILLE STATE BANK
BANK OF BENTON
BENTON COH,UNltY BANK
BANK OF CM•RC IN BERKELEY
Bl oo• I NGOAL E STATE BANK
CORN BELT BA~K
M(LEAN COUNTY BANK
HERITAGE/Cou,ny BK & TR co
BRIDGEVIEW BAtlK £ TRUST CO
BROAOVIE•-WESTCHESTER ST BK
BANK OF BUFFALO GROVE
BUSBANK STATE BANK
FAR~ERS ANO MERCHANTS ST BK
TDEP
REXBURG
TROY
6 BANKS AFFECTED IN STATE
-----------------------------1170020
7170080
7170125
8170140
Bl70145
7170210
7170230
7170260
7170285
1170290
7170291
7170350
7l70430
7170455
7170540
7170560
7170590
8170625
B 170627
7170665
71 70668
LOCATION
ID
ID
3
2
143050
2'599
1/17179
121
Vl TCSH
1803
185
131
1977
REQBAL
0
0
141
t~EW
EPA
ISi
NEW
REC BAL
26h
0
0
0
161
DI F
131-151
0
0
.
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
------------------------------------------------ --------------ADDISON
ALGONQUIN
ALSIP
ALTON
ALTON
ANNAWAN
ANT !OCH
ARGENTA
ARLINGTON HEIGHTS
ARLINGTON HEIGHTS
ARLINGTON HEIGHTS
ASHTON
AUBURN
AURORA
BARTLE IT
BATAVIA
BEARDSTOWN
BELLEVILLE
BELLEVILLE
BELLWOOD
BELVIDERE
BELVIDERE
BE~ENT
BENSENVILLE
BEtHON
BENTON
BERKELEY
BLOOMINGDALE
BLOO~INGTON
BLOOMINGTON
BLUE ISLAND
BRIOGEV IEW
BROADVIEW
BUFF ALO GROVE
BURBANK
BUSHNELL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
44110
2107 2
3H68
54477
19721
17204
67424
14736
82300
28558
25989
13149
18127
26652
20343
23490
17134
65677
32680
32535
13560
36366
18241
67296
57654
30002
28878
32126
78998
55573
100377
2340B
36513
30769
15752
29276
452
288
401
1094
435
110
501
76
578
537
426
124
230
314
258
468
324
775
379
437
330
414
115
532
476
326
430
119
406
812
732
542
758
324
486
187
0
0
0
0
0
0
0
2H
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
194
0
0
906
1496
0
0
0
0
0
0
0
0
B23
3B
0
0
20
0
996
767
0
0
0
2057
489
2650
0
0
32
0
109
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
15
0
0
0
0
0
0
0
0
0
0
0
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Federal Reserve Bank of St. Louis
NO~~EM8ER BANKS
DSB
8171020
7171035
7171037
7171095
7171098
8171109
8171125
8171160
Bl 7L!J0
8171210
7171250
7171260
717I26l
7171265
8171295
7111330
7171335
7171350
7171420
7171.42 5
7111470
7171475
7171480
11114qz
7171'H
71714'5
7171502
71715ll
7171515
7171525
7171530
7171542
7171548
7171552
7171557
7171623
7171629
7171631
7171632
7171635
7171643
7171 b48
7171649
7171651
7171652
7171653
NAME
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
UI
TDEP
LOCATION
FIRST BANK AND TRUST CO
CAIRO
FIRST ST ATE BANK
CALU~ET CITY
RIVER OAKS BK t TR co
CALUMET CITY
CANTON STATE BANK
CANTON
co~~UN ITY BANK AND TRUST co CANTON
BAN~ OF CARBONDALE
CMBONOALE
UNIVERSITY BK OF CARBONDALE CARBONDALE
FARMERS ANO MERCHMITS BANK CARLYLE
WHITE COUNTY BANK
CARMI
CAPAOLLTON BANK
ORROLLTON
MARINE TRUST COMPANY OF
CARTHAGE
CARY STATE BANK
CARY
IS T SCRTY BK OF CARY-GROVE CARY
BANK OF CASEY
CASEY
FIRST STATE BANK
CENTRALIA
FARMERS STATE BK OF CHAOWICKCHADWICK
BANK Of ILLINOIS
CHAMPAIGN
COM~ERC IAL BANK OF CHAMPAIGNCHAHPA IGN
ST ATE BANK OF CHERRY
CHERRY
BANK OF CHERRY VALLEY
CltERRY VALLEY
AE T~A BANK
CHICAGO
ALL AMERICAN BANK OF CHICAGOCHICAGO
AMALGAMATED TRUST & SVGS BK CHICAGO
ASHLAND STATE BANK
CHICAGO
BANCO 01 ROMA ICHICAGOI
CHICAGO
CHICAGO
BANK OF CHICAGO
BANK OF RAVENSWOOD
CHICAGO
BEVERLY BANK
CHICAGO
CAPITOL BANK OF CHICAGO
CHICAGO
CHICAGO BANK CF COMMERCE
CHICAGO
CHICAGO CITY BANK ANO TRUST CHICAGO
CHICAGO-TOKYO BANK
CHICAGO
CLEA~ING BANK
CHICAGO
CHICAGO
CCLONIAL BANK ANO TRUST CO
co•• BK & TR co OF EOGEWATERCHICAGO
CHICAGO
EAST S IOE BANK & TRUST CO
FIRST PACIFIC BK OF CHICAGO CHICAGO
FIRST STATE BANK OF CHICAGO CHICAGO
FOR O CITY BANK & TRUST CO
CHICAGO
CHICAGO
GARFIELD RIOGE TR t SVG
GLA~STONE-,rnwooo TR&SVGS BK CHICAGO
CHICAGO
HIGHLAND COM"4UNITY BANK
CHICAGO
HYOE PARK BANK t TRUST CO
l'luEPP<DrnCE BANK Of CHICAGOCHICAGO
CHICAGO
HARTFOPO PLAZA BANK
CHICAGO
ILLINOIS STATE BANK
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL·
IL
IL
IL
H
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
28847
30768
35961
28352
21730
16585
2169'1
20255
29801
22434
23965
23521
14795
21079
1/17/19
121
VL TCSH
314
832
314
512
334
595
609
280
235
141
205
299
213
225
13982
14739
61949
2H
85
596
41200
15376
14391
98398
18221
192941
20000
12 8488
46870
140062
145136
48266
80393
134345
1B8632
50150
1285H
19198
515
147
3H
979
355
985
422
45624
152848
42B32
148071
40863
15665
26293
101689
58928
29099
31443
179
567
1582
1352
723
800
1690
419
770
IOH
483
524
638
493
2123
498
269
373
952
1506
331
578
131
1977
REQBAL
141
NEW
EPA
151
NEW
REQBAL
0
0
0
0
0
109
0
0
0
0
0
0
0
0
0
0
0
0
23
0
0
0
0
0
0
0
0
0
0
0
.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
853
0
0
0
0
0
0
0
0
0
0
0
5166
1542
0
1773
0
0
338
-338
0
0
0
415
3422
. 3673
276
1709
·3010
3095
346
2546
0
258
3395
146
3411
0
0
0
0
-3373
0
-508
0
0
1598
-1598
0
0
0
3373
0
508
0
0
0
0
44
0
0
0
0
0
0
0
2798
322
0
0
2146
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-1542
0
-1773
0
0
0
50
0
0
2503
0
0
161
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0
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0
0
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NON°'E~BER BANKS
BENEFIT TO BANKS COVERED BY MDDIFIED H.R. 7
Ill
OSB
7171654
7171655
7171657
7171695
7171720
7171755
7171765
7171768
7171810
7171a34
7171835
717l9J5
7171931
7171936
7171940
7171955
7171978
7171980
7172040
7172070
7172094
71721~5
7172160
7172215
8172220
7172260
8172320
7172375
7172377
7172378
71723~5
7172338
7172410
7172420
717H65
7172495
7172542
7172545
7172550
7172608
7172700
Bl72770
7172780
7172790
7172800
7172805
NAME
LOCATION
IRYING BANK
CHICAGO
JEFFERSON STATE BANK·
CHICAGO
HERITAGE/PULLMAN BK & TR CO CHICAGO
LOK~SIDE BANK
CHICAGO
lASNOUE TRUST & SAVINGS BK CHICAGO
MADI SON BANK ANO TRUST CO
CHICAGO
MA~UFACTU~ERS BANK
CHICAGO
MARINA BANK
CHICAGO
METROPOLITAN BANK & TRUST COCHICAGO
Ill D TOWN SANK OF CHICAGO
CHICAGO
Md~NT GREEtlWOOD BANK
CHICAGO
NOPTH BANK
CHICAGO
OAK TRUST ANO SAVINGS BANK CHICAGO
PfTERSON BANK
CHICAGO
PIONEER BANK & TRUST CO
CHICAGO
REPUBLIC BANK OF CHICAGO
CHICAGO
S CENTRAL 8K & TC OF CHICAGOCHICAGO
SOUTH CHICAGO SAVINGS BK
PO CHICAGO
UNITED OF AMERICA BANK
CHICAGO
UPPER AVENUE BANK
CHICAGO
kATER TOWER TR &SAVINGS BK CHICAGO
HERITAGE/OLYMPIA BANK
CHICAGO HEIGHTS
CICERO STATE BANK
CICERO
BANK OF CLARENDON HILLS
CLARENDON HILLS
CLAY CITY BANKING COMPANY
CLAY CITY
JOH~ WARNER BANK
CLINTON
STATE BANK OF COLLINSVILLE COLLINSVILLE
HERITAGE BK OF COUNTRY CLUB CNTRY tLB HILLS
EDGEWOOD BANK
CCUNTRYSIOE
STATE BK OF COUNTRYSIDE
COUNTRYSIDE
HERITAGE BANK
CREST Hill
CRETE TRUST & SAVIIIGS BANK CRETE
HCME STATE BANK
CRYSTAL LAKE
STATE BANK OF CUBA
CUBA
BANK OF OA!-IVILLE
OANY ILLE
OAR IEN BUIK
OAR I EN
NORTHTOWN BK OF DECATUR
DECATUR
SOY CAPITAL BK & TR CO
DECATUR
DEERFIELD STATE BANK
DEERFIELD
DES PLAINES BANK
DES PLAINES
FIRST BANK CF DUNDEE
DUNDEE
ILLINOIS STATE BANK
EAST ALTON
EAST DUBUQUE SAVINGS BANK
EAST DUBUQUE
TRI-STATE BK OF E DUBUQUE
EAST DUBUQUE
EAST MOL !NE
STATE BK OF EAST MOLINE
EAST PEORIA
COIUIUIIITY BK OF E PEORIA
TDEP
IL
IL
30608
13554
IL
l8U73
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
38213
33693
90394
114264
617H
54780
16828
70067
30899
31173
29964
287418
37824
18917
133670
29950
IL
138135
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
ll
IL
IL
IL
19221
37227
39958
34500
17483
29187
34850
19679
40452
19094
24494
IL
IL
18768
50722
12946
20649
30341
41528
38996
26707
39139
21353
41699
14210
17207
58271
20567
121
YLTCSH
507
1270
2665
1026
714
757
719
546
1019
222
1137
283
HI
279
1584
719
156
954
417
754
303
345
906
340
133
337
529
248
636
487
383
257
590
132
611
712
824
607
316
568
236
520
146
149
1C85
435
1/17/79
131
1971
REQBAL
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
0
452
4633
0
0
2362
3717
IOll
0
0
318
0
0
0
0
-100
0
0
0
0
0
0
0
4413
0
0
2196
0
0
4072
594
0
11,2
0
0
0
0
0
0
0
0
0
81
0
0
0
0
82
BO
0
0
0
0
0
0
0
0
569
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
OIF
0
0
0
0
-4157
0
0
-892
0
-594
0
0
0
0
0
0
0
0
100
0
161
131-ISI
0
0
0
0
4157
0
0
892
0
0
0
0
0
0
0
0
0
0
ISi
NEIi
REQBAL
0
316
0
0
47
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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0
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0
0
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
NONMEMBER BANKS
111
DSB
NAME
TDEP
LOCATION
l / 17/19
121
VLTCSH
131
141
1977
NEW
EPA
REQBAL
8172815
Bl 72850
1172qoo
B 172'110
8l7ZS2Q
717zq54
71 72'170
7172'135
11 72'198
7173010
7173023
7173028
7173040
7173090
717)133
7173137
8173175
8173195
7173210
7173220
7173240
7173280
7173235
7173290
7173313
7173315
7173365
7173 HO
717342 0
7173460
8173520
7173560
7173562
7173565
7173570
7173573
8173645
8173670
11 n1n
81 73ROO
8173305
7173840
7173850
Tl 73865
7173868
7173875
EDGE,ONT BANK & TRUST CO
EAST ST LOUIS
UNION BANK
EAST ST LOUIS
KANE CTY BANK & TRUST CO
ELBURN
C P BURNETT AND SONS BANKERS ELDORADO
FIRST STATE BANK
ELDCRADO
LARKIN BANK
ELGIN
ELIZABETH
ELIZABETH STATE BANK
gANK OF ELK GROVE VILLAGE
ELK GROVE VILLAGE
ELMHURST
BANK CF ELMHURST
YORK STATE BANK & TRUST CO El~HURST
ELMWOOD PARK
F IP.ST SEC URI TY TR ANO SYG
,1owEST BANK Arm TRUST co
ELMWOOD PARK
WOODFORD COUNTY BANK
EL PASO
EVANSTON BANK
EVANSTON
EVERGREEN PLAZA BANK
EVERGREEN PARK
HER(TAGE/STANOARO BK & TR COEVERGREEN PARK
FAIRFIELD
WAYNE COUNTY BK & TR co
l lNCOLN TRAIL BANK t TR co FAIRVIEW HEIGHTS
FAR.~ER CITY STATE BANK
FARMER C ITV
BANK CF FARMINGTON
FARMINGTON
FLANAGAN STATE SANK
FLANAGAN
FORRESTON STATE BANK
FORRESTON
FOX LAKE
FOX LAKE STATE BANK
FRANKFORT
FRANKFORT STATE BANK
FIR ST STATE BANK & TRUST co FRHKLIN PARK
FRA'IKL IN PAPK BANK
FRANKLIN PARK
GALENA STATE BAflK & TRUST COG ALENA
84NK OF
GALESBURG
CENTRAL TRUST ANO SAYINGS 8KG ENE SEO
GENOA
GENOA STATE BANK
PEOPLES ST BK OF GILLESPIE GILLESPIE
OU PAGE BANK t TRUST CO~PANYGLEN ELLYN
GLEN Ell YN
I SECR TY BK OF GLEN ELLYN
FIRST TRUST ANO SAYINGS BANKGLENYIEW
GLENVIEW
GLE'IYIEW STATE BANK
GLENWOOD
ft ER IT AGE/GLENWOOD BANK
AM HRTAGE BK OF GRANITE CITYGRANITE CITY
GRANITE CITY
GRANITE CITY TR & SVG BK
FIRST ST BK&TC OF HANOVER PKHANOVER PARK
HAROIN
BANK OF CALHCUN COUNTY
HARR I SBURG
BANK OF HARRISBURG
HARV ARO
FIRST $UTE BANK
HARVARD
HARVARD STATE BANK
HARVEY
FIRST SHTE BANK
HARWOOD HEIGHTS
PARKWAY BANK & TRUST co
HAVANA
STATE BANK OF HAVANA
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
• IL
IL
IL
IL
IL
IL
IL
IL
IL
67920
33352
18993
3002 B
15611
19397
20742
89642
40549
61032
97164
82096
20704
43728
44260
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14873
15086
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29091
21045
41623
57328
17568
37768
34799
14691
18355
63647
28818
27426
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20611
56325
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18592
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22327
17846
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24675
975
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132
392
375
412
102
587
372
525
901
535
157
543
559
1266
256
368
217
178
67
81
598
405
415
661
161
482
185
271
206
715
363
313
1303
426
682
980
654
140
152
170
225
265
554
287
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
622
0
0
0
0
0
75
2280
216
676
2945
1844
0
65
0
'1634
103
0
0
0
0
0
0
0
141
527
0
0
254
0
0
729
0
0
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10
0
0
0
475
0
0
0
0
0
0
0
0
0
0
402
18
0
0
1391
0
151
NEW
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0
D
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1530
0
0
0
0
0
0
0
0
0
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161
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131-151
0
0
0
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0
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0
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0
0
0
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0
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Federal Reserve Bank of St. Louis
NON•EHBER BANKS
BENEFIT TO BANKS COVERED BY HOOIFIEO H.R. 7
111
DSB
7113900
8113910
7173H5
8173940
7173965
7173H5
7174015
7174025
71 74065
71740H
7174100
8174175
7174190
8174220
8174230
8174240
7174255
7174263
7174315
711432 5
7174>.40
7174445
7174480
71744'?0
7174513
8174570
7174&00
7174610
7174630
7174640
7174660
7174715
7174H5
7174727
Bl 14140
7174773
7174774
7174775
7174118
7174805
7174815
7114960
817407'5
8174990
7174992
7175020
NAME
LOCATION
HENRY STATE BANK
HENRY
BANK OF HERR IN
HERR IN
BANK OF HICKORY HILLS
HICKORY HILLS
FMRS r. HRCHTS BK OF HIGHLANDHIGHLAND
BANK CF HIGHLAND PARK
HIGHLAND PARK
HIGHWOOD
BAN< CF HIGHWOOD
BA~K OF HILLSIDE
HILLSIDE
BANK OF HINSDALE
HI NS DALE
HCMEWODO
BANK CF HOMEWOOD
co••uNITY BK OF H.•wo-FLOSSHRHOHEWOOD
STATE BK OF HUNTLEY
HUNTLEY
CQ .• SUNITY TRUST BANK
IRVINGTON
ITASCA STATE BANK
ITASCA
FAR,.ERS STATE BANK & TR CO JACKSONVILLE
JERSEYVILLE
JERSEY STATE BANK
JERSEYVILLE
STATE BANK OF JERSEYVILLE
EAST JOLIET BANK
JOLIET
JOLIET
LOUIS JOLIET BK ANO TR CO
KANKAKEE
FIRS·T BANK OF MEADOWVIEW
KANKAKEE
PEOPLES BANK OF HARV CREST
lA GRANGE
LA GRANGE STATE BANK
BANC CF LA GRANGE PARK
LA GRANGE PARK
LAKE ZURICH
STATE BK OF LK ZURICH
LANARK
EXCHANGE STATE BANK
BAN< OF LANSING
LANSING
LEBANON TRUST & SAVINGS BANKLEBANON
CITIZENS STATE BANK
LENA
LENA
LENA STATE BANK
LE ROY STATE BANK
lE ROY
FARSERS STATE BANK
LEWISTOWN
PEOPLES BANK OF LEXINGTON
LEX I NG TON
LOGAN COUNTY BANK
llNCCLN
BANK OF LI NC CLNIIOOO
llNCCLNWOOD
BANK CF l l SlE
LISLE
LITCHFIELD BANK ANO TRUST COLI TCHFI ELD
BANK OF YORK TOWN
LCMBARD
LOMBARD
•AIN BANK OF LOMBARD
STATE BANK CF LOMBARD
LC•BARD
lCHBARO
WEST SURBURBAN BANK
U~ITEO BK OF LOVES PARK
LOVES PARK
LV.ONS
BANK OF LYONS
MARENGO
MARENGO STATE BANK
BANK OF EGYPT
HAR ION
HAR ION
BANK OF MARION
MARKHAM
TR I-STATE BANK
MARTINSVILLE STATE BANK
MARTINSVILLE
TDEP
IL
-IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
ll
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
ll
IL
ll
IL
IL
17281
35548
62561
57207
61115
26306
17472
21375
50387
24488
16225
16972
58740
52982
21368
36082
18182
61138
H173
26789
102086
36997
33737
15611
39266
14025
20734
14821
I787B
18695
16204
14653
101236
37571
19103
31900
16637
38293
72069
41820
21391
26713
30076
40888
24042
15880
1/17/7?
121
VL TCSH
91
705
642
485
420
393
636
223
760
222
1?8
59
303
801
309
591
343
809
416
402
1283
316
549
72
557
156
72
86
205
271
61
264
1369
573
250
492
376
538
893
836
288
418
565
630
459
85
131
1911
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
0
0
1087
655
755
0
0
0
140
0
0
15
845
356
0
0
0
553
211
0
1981
141
0
0
0
0
66
0
0
0
0
0
1867
0
0
0
0
0
926
0
0
0
0
213
0
0
151
NEW
REC BAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
161
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131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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0
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BENEFIT TO 8APIKS COVERED BY MODIFIED H.R. 7
NON'1EMBER BANKS
DSB
7175055
7175085
7175112
7175140
7175215
7175217
7175220
71 75200
7175275
7175340
71 7 SH5
7175410
7175412
7175433
8175455
8175400
71755n
7175510
8175550
8175555
81755~0
8175565
7175570
7175625
8175700
7175750
81757d0
71 75796
7l 753J8
7175825
Bl 75830
7175835
7175843
7175e46
1175848
7175851
7175855
7175867
7175870
7175MO
7175890
7175010
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8l 7bOIO
7176030
7176080
NAHE
111
TDEP
LOCATION
HA TTE SON-RICHTON. BANK
MATTESON
BANK
HAYWOOD PROVISO
HAYWOOD
MELROSE PARK
MERCHANTS & HNFACTRERS SB
FIRST STATE BANK
HErlDOU
MIDLOTHIAN STATE BANK
MIDLOTHIAN
BLACKHAWK STATE BANK
MILAN
HILFORO
CITIZENS SB OF MILFORD
I ST FARMERS ST BK OF MINIER MINIER
HINOCKA
TR I-COUNTY BK OF MINOOKA
MONMOUTH
HO~MOUTH TR NAO SVGS BK
FIRST STATE BANK
HCtH IC ELLO
SHITH TRUST AND SAVINGS 8ANKHCRR I SON
WHITESIDE COUNTY BM-,K
HORR I SON
~ORTON
HORIO~ co•<UNITY BANK
MOUNT CARMEL
BAN< CF HOUNT CARHEL
HCUNT CARHEL
SE CUR ITV BANK AND TRUST
MOUNT PROSPECT
COU~TRYS I DE BANK
Hcu,n PRCSPECT
MOU~H PROSPECT STATE BANK
FARMERS ST BK OF HT STERLINGHOUNT STERLING
BANI< OF llllllOIS
HCUNT VERNON
FIRST BANK AND TRUST CO
HT VERNON
HCUNT VERNON
SC BK&TR CO OF HT VERNON
HCUIIT ZION
MT ZION STATE BANK
BANK CF NAPERVILLE
NAPERVILLE
STATE BANK OF N~W ATHENS
NEW ATHENS
NEW LENOX
NEW LENOX STATE BANK
PEOPLES STATE BANK
NEWTON
DEMPSTER PLAZA STATE BANK
NILES
SANK OF I Lll NOi S IN NORMAL
NORMAL
Pl AZA CRIVE& IN BANK
NORRIDGE
NORRIS CITY
NORR IS CITY STATE BANK
NORTHBROOK TRUSl AND SAVINGSNORTHBROOK
NORTHFIELD
BANK CF NORTHFIELD
FIRST SECRTY BK Of OAK BRODKOAK BROOK
O&K BROOK BANK
OAK BROOK
CAKBROOK TERRACE
BANK OF OAKBROOK TERRACE
INTERSTATE BK OF OAK FOREST OAK FOREST
OAK lAWN
HERITAGE BANK OF OAK LAWN
OAK LAWN
OAK LAWN TR ANO SVG BK
OAK PARK
AVENUE BANK ANO TRUST CO
OAK PARK
FIRST BANK OF OAK PARK
OAK PARK
SUBUSBAN TR ANO SVG BK
0 FALLON
BANK OF O FALLON
OLNEY TRUST ANO BANKING co OLNEY
ONE I DA
A'lOERSON STATE BANK
ORION
STATE BANK OF ORION
sure
co
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
42766
33313
20764
34258
38688
27454
15861
14185
13663
28305
23467
36610
13709
15614
26148
60730
29414
165898
17405
19934
39460
67074
17353
71701
14884
37997
41566
25118
16318
27549
14485
76454
24833
21038
71560
16242
29515
19602
58198
95727
65696
66040
28019
28138
15467
252b0
1/17/79
121
VLTCSH
697
349
351
291
631
480
244
65
198
229
138
349
135
278
359
433
385
726
130
244
494
405
118
479
191
440
407
249
238
558
122
602
260
299
367
439
586
244
712
1030
715
692
204
315
107
127
131
l'H7
REQ8AL
0
0
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
0
B
0
170
0
0
0
0
0
35
39
96
0
0
0
0
0
0
0
0
0
0
0
1154
0
3512
0
0
0
1662
0
1329
0
9
0
0
0
0
0
IH
0
113
0
0
0
0
0
0
0
0
0
0
1305
0
0
0
1461
0
0
0
0
0
0
0
0
0
0
0
0
0
0
500
1!15
1010
852
88
0
0
IH
151
NEW
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1513
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
161 ·
DIF
I 31-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-1513
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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Federal Reserve Bank of St. Louis
NON~EMBER BANKS
DSB
7176090
7176105
7176112
7176117
8176130
7176155
7176165
7176130
7176185
7176196
7176310
7176313
7176318
7176320
7176330
7176338
0176390
8176410
7176450
7176560
7176565
Bl 76590
8176600
8176630
8176632
7176647
7176670
8176740
7176750
1176760
7176765
8176800
7176B48
7176856
7176t:166
7176869
7176873
7176885
71768H
71 76890
7176910
7176945
7177050
7177102
7177103
7177104
NAME
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
111
TOEP
LOCATION
ORLAND STATE BANK
ORLANO PARK
OSWEGO COM~UNITY BANK
OSWEGO
ILLINOIS TR & SAV BANK
OTT AWA
FIRST BANK & TRUST CO
PALATINE
FAR~ERS STATE BANK
PALESTINE
PALOS BANK AND TRUST CO
PALOS HEIGHTS
PEOPLES BANK Of PANA
PANA
EDGAR COUNTY BANK ANO TR co PARIS
PARK FOREST
BANK CF PA•< FOREST
FIRST STATE BANK & TRUST CO PARK RIDGE
JEFFERSCN TRUST ANO SAVINGS PEORIA
~>DISON PARK BANK
PEORIA
SHE ct I DA~~ BANK
PEORIA
SO SIDE TRUST ANO SAVINGS BAPEO•IA
PEOTONE BK ANO TRUST CO
PEOTO~E
COLONIAL. TRUST & SAVINGS BK PERU
MURPHY WALL STATE BK & TR COPINCKNEYVlllE
FASMERS STATE BANK
PITTSFIELD
COM'iUNITY BK OF PLANO
PLANO
FIRST STATE 9ANK
PR I NC ETON
PRINCEVILLE STATE BANK
PRINCEVILLE
ILLINOIS ST 8K OF QUINCY
QUINCY
MERCHANTILE TR & SVGS BK
QUINCY
STATE STREET BANK ANO TRUST QUINCY
TOWN & OH BK OF QUINCY
QUINCY
BAN~ OF RANTOUL
RANTOUL
RARITAN STATE BANK
RM I TAN
GALLATIN COUNTY STATE BANK R IOGWAY
RIVERDALE BANK
RIVERDALE
RI VER FOREST ST 8K&TR co
RIVER FOREST
RIVER GROVE ST BANK
RIVER GROVE
CR4WFORO COUNTY STATE BANK ROSI NSON
ALPINE STATE BANK
ROCKFORD
RCCKFORD
COLONIAL SK CF ROCKFORD
NORTHWEST BANK CF ROCKFORD ROCKFORD
RCCKFORO
UNITED AANK CF SOUTHGATE
AMERICA'4 BANK OF ROCK ISLANOROCK ISLAND
ROCK TON
MACKrnWN STATE BANK
SUBRSN SK OF ROLL ING MEADOWSROLL ING MEADOWS
ROMEOVILLE
FIRST BANK OF ROMEOVILLE
ROSELLE
ROSELLE ST BK & TRUST CO
ROUND LAKE
FIRST STATE SANK
SANDWICH
SANDWICH STATE BANK
SCHAUMBURG
SC HAU~SURG STATE BANK
SCHAUMBURG
WODOFIELO BANK
HERITAGE BANK OF SCHAUMBURG SCHAUMBURG
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
51310
17727
13473
29321
I 7325
49567
26227
2252 I
45843
44112
125874
27458
40556
44693
22313
18989
20031
34621
15611
37789
16606
70684
78247
28665
16394
23147
19188
16929
69767
80223
14054
32594
17373
24159
17297
16136
23359
15505
20438
16271
86713
22503
28953
44995
41960
19675
1/17/79
I 21
Vl TCSH
884
223
232
408
\90
762
347
286
376
396
3307
433
994
795
263
198
281
354
223
298
146
577
610
537
338
392
94
127
542
256
209
392
273
492
339
692
387
207
220
20'705
757
367
131
1917
RE QB Al
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
2'-6
0
0
0
0
174
0
0
432
306
1409
0
0
0
0
0
0
17
0
239
0
0
0
1684
1639
0
0
0
0
0
0
0
0
32
0
0
1147
0
0
0
0
1893
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
738
o
500
297
0
0
0
0
0
151
NEW
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
54
0
0
0
0
0
0
0
0
0
0
0
1546
0
0
0
0
0
0
0
398
0
0
0
0
161
DIF
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-54
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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.
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NON"IEMBER BANKS
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~
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
OSB
NAME
7177130
8177200
7177215
7177223
7177225
7177240
7171260
7171162
7177293
7177295
7177302
7177315
717732 5
7177330
7177455
7t77471
7177472
7177510
7177580
1111_sa5
7177650
7177735
81 77820
8177870
7177890
8177q9o
7178030
7178038
7178090
7178130
8178150
8178153
7178155
7178184
717~190
71781'~5
7178210
7178250
7178310
7178345
7178370
7178375
8178445
1178450
OF
BENEFIT TO BANKS COVERED BY HOOIFIEO H.R. 1
ll 1
TOEP
LOCATION
FIRST STATE BANK OF SHANNON SHANNON
CITIZENS STATE BANK
SHIPMAN
BANK OF SILVIS
SILVIS
SKCK lE
OLD ORCHARD BK ANO TR CO
SKOKIE TRUST ANO SAVINGS BK SKOKIE
FA~MERS STATe BANK
SO,...CNAUK
SOUTH HOLLAN~ TR & SVG BK
SOUTH HOLLAND
lHORNR I OGE STATE BANK
SOUTH HOLLAND
BANK OF SPR INGF I HO
SPRINGFIELD
CAP BK & H CO OF SPRNGFLO SPRI NGF I HO
FIRST ST ATE BANK
SPRINGFIELD
SPRINGFIELD
LAND OF LINCCLN BANK
SPRINGFIELD
TO•,rn ANO COUNTRY BANK
SPRING VALLEY
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------------------------------------------------------------------------------------------------------------------------------
...
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Federal Reserve Bank of St. Louis
NON~EHBER BANKS
DSB
BENEFIT TO BANKS COVERED BY HOOIFIEO H.R. 1
NAME
111
TDEP
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71R0020 A<SO'I EXCHANGE STATE BANK
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7180110 ATJGJLA STATE BANK
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BARGERSVlllE
7180220 BHESVlllE STATE BANK
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7180230 FIRST BANK t TRUST CO
BATESVlllE
8180280 STO~E CITY BANK Of BEDFORD
BEDFORD
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8180360 BLOQSFIELO STATE BANK
7180400 MQNROE COU~TY STATE SANK
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7180410 FAR~ERS ANO ~ERCHANTS BANK
BLUFFTON
818D44C PEOPLES TRUST ANO SAVl~GS BKBGONVILLE
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7180450 FAR'-4ERS ANO MERCHANTS BANK
7180470 FIS ST BK & TR CO Of CLAY CTYBRAZ IL
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7190490 BQE~EN STATE BANK
BRCWNSTOWN
BIS0570 CITIZENS STATE BANK
BROWNSTOWN
8180585 PEOPLES BANK
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7180620 PEOPLES STATE BANK
7lfl0640 Cl\'1DEN STATE BA"lK
CAMDEN
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718Ub05 FIDELITY BANK OF INOIANA
7(80670 u,IoN STATE BANK
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7180 740 CHURUBUSCO STATE BANK
7180775 CLINT □~ STATE BANK
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7180840 IP.WIN UNION SK ANO TR CO
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B180900 OLD CAPITAL BK AND TR CO
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7180910 FOUNTAIN TRUST COMPANY
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7180970 CC."1~ERC I AL BANK
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7181030 OANYILlE STATE BANK
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7181210 ST JOSEPH VALLEY BANK
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7181230 SECURITY BA.NK
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7181250 ~ORGAN COUNTY BANK & TR
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8181400 PEOPLES STATE BANK
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Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
NON"E,BER BANKS
Dsg
7181520
7181530
7181540
7181560
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71el660
7181700
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CLINTCN COUNTY BK AND TR CO FRANKFORT
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UNION BANK ANO TRUST COMPANYFRANKL IN
GAS C ITV
FIRST VALLEY BANK
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STATE BANK OF GREENTOWN
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CITIZENS STATE BA~K
HIGHLAND
BANK OF HIGHLAND
HILLSBORO STATE BANK
HI LL SBORO
HUNT I NG TON
COSSIJNITY STATE BANK
INOIANAPOLIS
PECPLES BANK ANO TRUST
JASPER
DUBOIS COUNTY BANK
JASPER
GE.SAN ASERICAN BANK
JEFFERSONVILLE
CITIZENS BANK & TRUST CO
JEFFERSONVILLE
CLARK COUNTY STATE BANK
CAHPBELl A~O FETTER BANKERS KENOALLVILLE
KENDALLVILLE BANK & TRUST COKE~DALLVILLE
KEr-.TLANO
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KNOX
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LAFAYETTE BANK AND TRUST CD LAFAYETTE
LAGRANGE
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LA PAZ
F•RHERS STATE BANK
LA PORTE BANK ANO TRUST co LA PORTE
LEBANON
BOO~E COUNTY STATE BANK
LEBANON
CITIZENS BANK ANO TRUST
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PEOPLES STATE BANK
LIGONIER
A<ERICAN STATE BANK
LINTON
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LIZTON
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•A•"ERS & HEP.CHANTS STATE 8KLCGANSPORT
LOCGOOTEE
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MADISON
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CITIZENS BK OF MICHIGAN CY MICHIGAN CITY
co
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Federal Reserve Bank of St. Louis
NON.~EMBER BANKS
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
Ill
DSB
7182742
7182760
7182770
7192920
6182830
7B2900
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NAME
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LAKESHORE BANK £ TRUST co
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FIRST STATE BANK
MIDDLEBURY
FARMERS ST BK OF HENRY CTY MIDDLETOWN
VALLEY BANK£ TRUST CO
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BANK CF MITCHELL
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MONTPELIER
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MOORESVILLE
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AMERICAN BANK
NEW ALBANY
FLOYD COUNTY BANK
NEW ALBANY
SUTUAL TRUST CO~PANY
NEW ALBANY
tJN ION BK £ TR OF NEW ALBANY NEW ALBANY
CITIZENS STATE BANK
NEW CASTLE
NEW PALESTINE BANK
NEW PALESTINE
CITIZENS STATE BANK
NEWPORT
NEW WASHINGTON STATE BANK
NEW WASHINGTON
WAINWRIGHT BANK AND TRUST CON08LESV ILLE
NORTH JUDSON
AMERICAN STATE B4NK
INOIANA LAWRENCE BK £ TR CO NORTH MANCHESTER
UNION SANK ANO TRUST CO~PANYNDRTH VERNON
NOR TH WEBSTER
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OAKLAND C ITV
1ST BKtTR CO OF OKLANO CY
BANK OF OR.LEANS
ORLEANS
OSSIAN STATE BANK
OSSIAN
STATE BANK OF OXFORO
OXFORD
PALMYRA
HARS I SON COtJ~TY BANK
PAOLI
OR ANGE COUNTY BANK
PENDLETON
PE~OLETON BA~KING COMPANY
PERU
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PERU
WABASH VALLEY BK£ TR CO
~ARSHALL COUNlY BK t TR CO PLYMOUTH
PORTLAND
CITIZENS BK OF PORTLAND
PEOPLES BANK
POR TL ANO
PRINCETON
GlaSON COUNTY BANK
REMINGTON
STATE BANK OF REMINGTON
STAfE BK OF RENSSELAER
RENSSELAER
RISING SUN
RISING SUN STATE BANK
TRI-COUNTY BANK£ TRUST co ROACHDALE
ROANN
STAfE EXCHANGE BANK
FARSERS ANO MERCHANTS BANK ROCHESTER
ROCKVILLE
PARKE STATE BANK
ROYAL CENTER
CO~HUNITY STATE BANK
TOEP
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0
0
0
0
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0
17
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Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
NON•EHBE R BANKS
OSB
NAME
FAR.ERS CITIZENS BANK
SA~ PIERRE STATE BANK
SPENCER COUNTY BANK
JACKSCN COUNTY BANK
AMERICAN STATE BANK
SHIPSHEWANA STATE BANK
,'1ARTIN COUNTY BANK
ST JOSEPH BA~K ANO TRUST co
FIPST BANK t TRUST CO
OWEN COUNTY STATE BANK
SULLIVAN STATE BANK
7194'310 ST ATE BANK OF SYRACUSE
7184350 INDIANA STATE BANK
1104,~30 UNlm~ TRUST COMPANY
71R4450 LJ"',lflED BANK
7184475 NORTHERN IND BK t TR co
8184520 VEVAY OE POSIT BANK
9184540 SECURITY BK t TR CO
7184555 FRA~CES SLOCUM BK t TR co
8184560 FA•MER S BA~K ANO TRUST co
7lS4500 ST ATE 8K OF WALDRON
7l 84600 CASS COUNTY STATE BANK
7184650 LAKE CI TY BANK
8184660 CITIZENS BANK ANO TRUST co
8184610 SH TE BK Of wASHI NG TON
7U!4820 A:<ERICAN TR ANO SVGS BANK
7184830 f I RST BANK OF WHITING
7184850 CITIZENS STATE BANK
71849'30 PEOPLES lOAN t TRUST co
8183940
7183910
8183915
B l1t4')20
1184060
1184,70
81~4090
7184140
7184190
7194200
81134240
7184890 RANDOLPH COUNTY BANK
7184900
7184930
1184960
118499J
OF
UNION STATE BANK
BAN< Cf WOLCOTT
FARMERS STATE BANK
FAR~ERS STATE BANK
111
TOEP
LOCATION
SALEH
SAN PIERRE
SANTA CLAUS
SEYMOUR
SHERIDAN
SHIPSHEWANA
SHOALS
SOUTH BENO
SPEEDWAY
SPENCER
SULLIVAN
SYRACUSE
TERRE HAUTE
UNICN CITY
UPLAND
VAL PARA I SO
VEVAY
VINCENNES
WABASH
WAOESVILLE
WAlORON
WAL TON
WARSAW
WASHING TON
WASHING TON
WHI Tl NG
WHITING
WILLIAMSPORT
WINCHESTER
WINCHESTER
WINDFALL
WOLCOTT
WYATT
ZIONSVILLE
172 BANKS AFFEC TEO IN STATE
93
73
1111/19
121
YLTCSH
666
214
0
0
244
0
0
IN
IN
IN
48044
IN
H4S4
946
IN
IN
IN
IN
IN
20869
42307
15870
268251
126799
40058
50416
25300
62242
20159
18474
125729
15284
81096
25832
42088
22882
19576
81143
32642
21316
23351
86468
24655
26448
22925
18468
14431
29735
20996
180
385
252
2098
I 783
489
226
281
932
416
474
IT34
186
1209
295
262
363
150
870
363
202
488
1260
275
557
379
357
93
317
356
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IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
IN
16357
16261
131
1911
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
I 51
ll>I·
NEW
DI F
131-151
REQBAL
148
0
0
0
0
0
0
0
0
0
0
215
0
5202
0
0
0
0
0
0
0
4113
-4113
J334
0
24
0
0
0
0
646
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
355
0
0
2721
0
1259
0
298
0
0
1349
0
0
0
1246
0
0
0
0
0
0
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0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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HAYE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
----------------------------------------------------------------------------------------------------------------7190010
7190030
7190034
719JOBO
ACKLEY STATE BA~K
DALLAS COUNTY STATE BANK
RACCOON VALLEY STATE BANK
FIRST IOWA STATE BANK
ACKLEY
ADEL
ADEL
ALBIA
IA
IA
IA
IA
22395
35596
15922
17926
102
281
IOI•
229
0
0
0
0
59
188
0
0
0
0
0
0
0
0
0
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~
~
cc
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. f
NON~EMBER BANKS
I II
OSB
7190110
71<>0125
71<>0200
7190202
7190210
7190240
71 '10340
NAME
TOEP
lOCATION
IA
7190500
7100520
7190524
7190535
7190538
719J560
7 1'~0'5d0
1190590
7190610
7190650
11°0100
7190720
71()0735
719J000
7190820
IOWA STATE BANK
ALGONA
THE SECURITY STATE BANK
ALGONA
UNION STORY TR & SVGS BANK
AMES
AMES
U"IVERSITY BANK & TRUST CO
ANAMOSA
CITIZENS SAVINGS BANK
ANKENY STATE BANK
ANKENY
ATLANTIC
ATLANTIC STATE BANK
FIRST WHITNEY BANK AND TRUST ATLANTIC
AUDUBON STATE BANK
AUDUBON
AVOCA STATE BANK
AVOCA
CITIZE~S SAVINGS BANK
AVOCA
ST•TE SAVINGS BANK
BEDFORD
8ELLEPLAINE
CITIZENS STATE B•NK
FIOST STATE BANK
BELMOND
NOnTH IOWA STATE BANK
BELMOND
BETTENDORF BANK ANO TRUST COBETTENOORF
SECURITY STATE TR & SVGS BK BETTENOCRF
DAVIS COUNTY SAVINGS BANK
BLOOMFIElO
BLUE GSASS SAVINGS BANK
BLUE GRASS
BOOSE STATE BK & TR CO
BOONE
FAR'-l!ERS SAVINGS BANK
BCYOEN
FIRST STATE BANK
BRITT
FARMERS TRUST & SAVINGS BK
BUFFALO CENTER
FARMERS t MERCHANTS BNK & TRBURl INGTON
HAWKEYE BANK ANO TRUST
BURll NG TON
CARll SlE
HARTFORD CARLISlE SVGS BK
CARROLL
CARROLL COUNTY STATE BANK
7lCW830
co~~ERCl~l SAVINGS BANK
IA
IA
IA
'119C!350
7190370
7l91HCO
7190410
7lqQ490
CARROLL
CASCADE
7190550 CASCADE STATE BANK
CEDAR FALlS
7190960 CEDAR FALlS lR t SVGS BK
11qoe11 Ml o••v BA~K & TRUST
CEDAR FALLS
719oq130 FIRST TRUST ANO SAVINGS BANKCEOAR RAPIDS
7190890 GUARANTY BANK ANO TRUST CO CEDAR RAPIDS
CEDAR RAPIDS
7190920 UNITEO STATE BANK
7190960 I □ <• TRUST A•lD SAVINGS BANK CENTERVILLE
CHAR !TON
71~0970 FIRST STATE BANK
7191000 COS~ERCIAL lRUST ANO SAVINGSCHARLES CITY
CHARlES CITY
7191010 flRST SECURITY BK AND TR
CHEROKEE
7l'H060 CHEROKEE STATE BANK
CHEROKEE
7191070 STEELE STATE BA~K
CLARENCE
11•1000 CLARENCE SAVINGS BANK
CLAR I NOA
Tl9ll!O PAGE COUNTY STATE BANK
CLAR ION
7191118 BRENTON BANK & TRUST CO
CLARKSVILLE
7191130 IOaA STATE BANK
CLEAR lAKE
7191145 CC"MUNITY STATE BANK
CllNTON
7191200 IOWA STATE SAVINGS BANK
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
I A
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
25701
25359
36890
29894
20772
22535
46319
36364
24117
13899
12803
16938
2222 7
22952
13546
46456
27432
26890
14363
35056
12695
22854
20755
47807
62660
I 5540
24376
26948
14714
37567
l606I
40915
35305
25151
38198
23362
~1661
39866
32937
15231
13623
27762
18882
14785
17885
27213
1/11119
121
Vl TCSH
260
225
H9
289
151
508
255
183
131
85
61
138
131
19H
REQBAL
161
DIF
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
29
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
408
H9
71
0
0
0
0
0
0
129
0
0
0
0
0
0
54
0
0
0
0
861
0
327
401
78
357
29
184
0
0
0
980
150
199
412
111
398
365
933
691
419
541
297
314
390
250
230
89
225
105
189
179
371
151
NEW
REQBAL
0
207
79
142
123
848
141
NEW
EPA
0
0
0
0
0
14
0
0
0
0
0
0
0
776
0
0
0
0
0
0
0
113
0
0
0
0
0
0
0
0
0
0
0
0
lH
0
0
0
0
104
0
0
61
0
0
40
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
.••
•
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•
•
•
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~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NOtl.~EHBER BANKS
DSS
7191280
7191285
71q13oe
7191310
7191330
7191350
7191380
7191400
7191440
7191460
7191480
71°14<}0
7191510
7191520
71Ql540
7191610
7191630
71Sl633
7191650
7191.653
7191 700
7191740
7191755
7101780
11q1soo
7191810
7191 e20
71918~0
719IB90
7191940
71Gl980
H 91990
7192010
7192030
7192145
71(nl65
71921~0
7192190
7192205
71922'10
7192450
11qz410
11925'.10
7192520
7192530
7192570
NAME
8ENEF IT TO BANKS COVERED BY HODIF IED H.R. 7
LOCATION
COON RAPIDS
IOWA SAVINGS BANK
UNI 3ANK & TRUST
WRALYILLE
CCRYOON
CITIZENS STATE BANK
CORYDON
CORYDON STATE BANK
COUNC l l BLUFFS SAVINGS BANK COUNC fl BLUFFS
ST ATE BANK & TRUST CO
COUNCIL BLUFFS
CRESCO
CRESCO UNION SAYINGS BANK
IOWA STATE SAVINGS SAN<
CRESTON
BRENTON STATE SANK
DAL LAS CENTER
DANVILLE STATE SAYINGS BANK OANYlllE
F 1 RS T TRUST AND S4 YI NGS BANKOAVE NP ORT
.'lORTHilEST BA:'IIK &. TRUST CO
DAVENPORT
DECORAH
DECOR.AH STATE BA~K
S[CUR !TY SANK ANO TRUST CO DECORAH
CRAWFORD CTY TR ANO SVGS SK DENISON
FIRST FEDERAL ST ATE BANK
DES HOINES
DES HOINES
IOWA ST ATE BANK
PLAZA STATE BANK
DES MOINES
DEWITT
OE WI TT 8A•IK ANO TRUST CO
DEWITT
FIRST CENTRAL STATE BANK
DONNELLSON
CITIZENS STATE BANK
DUBUQUE SANK AND TRUST CO
DUBUQUE
DUBUQUE
KEY CITY BANK & TRUST CO
l l BERTY TRUST ANO SAVINGS BKDURANT
F IOEL ITV SANK ANO TRUST CO DYERSVILLE
EAGLE GROVE
SECURITY SAVINGS BANK
EARLHAM
EARL HA< SAVINGS BANK
HARDIN COU~TY SAVINGS BANK ELDORA
ELDRIDGE
CENTRAL TR ANO SYGS 8K
PALO ALTO COUNTY STATE BANK EMMETSBURG
ESTHERVILLE
EH'iET COUNTY STATE BANK
IDWA TRUST ANO SAYINGS BANK ESTHERVILLE
EX IRA
EXCHANGE STA TE BANK
FAIRFAX STATE SAVINGS BANK FAIRFAX
MA~JFACTURERS BANK & TR CO FOREST cnv
UNIO'I TRUST 4'1D SAVINGS SANKFCRT DODGE
IOWA STATE BANK
FORT MADISON
FORT MADISON
lEE COUNTY SAVINGS BANK
FREMONT
FARSERS SAVINGS BANK
GEORGE
GEORGE STATE SANK
GREENFIELD
ADAIR COUNTY STATE BANK
GRINNELL
GRINNELL STATE BANK
GRUNDY CENTER
FAR.'1ERS SAVINGS eAN'<.
GUT HR IE CENTER
GUTH~IE COUNTY STATE BANK
GUTTENBERG
SECURITY STATE SANK
HAMPTON
HAMPTON STATE BANK
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
I A
IA
IA
IA
...
IA
IA
IA
IA
IA
IA
I A
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
I A
IA
IA
IA
IA
IA
IA
IA
IA
IA
1117/79
111
TDEP
121
VLTCSH
22584
21251
19811
16501
92792
53230
24748
28610
29671
333
227
216
91
1248
962
288
388
191
13161
98
46931
83926
39240
26884
967
721
501
118
232
579
641
566
131
81
70
1519
259
163
151
209
126
121
376
179
589
305
59
100
252
772
270
273
52
82
149
172
94
111
90
256
23769
3971-'t
26627
48219
28528
15128
14266
116538
20787
25846
18387
2816'
1'52'
28067
34209
2828 7
36363
27991
13131
15190
22904
71543
15659
27037
14578
15762
15801
16657
18695
17414
14135
21787
131
1977
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
0
0
0
0
1611
185
0
0
157
0
0
1383
0
159
o
o
105
310
J]q
0
0
2039
0
103
0
103
0
190
82
119
0
0
0
0
0
966
0
0
0
0
0
0
0
0
0
0
151
NEW
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
161
DIF
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
D
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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•
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•
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NONSEHBER BANKS
056
NAME
111
TDEP
LOCATION
7lq2610 SHELBY COUNTY ST ATE BANK
HARLAN
HAWARDEN
71926~0 HRSERS STATE BANK
HAYESVILLE
7192670 HAYESVILLE SAVINGS BANK
HILLS
7192690 HILLS BANK ANO TRUST CO
HOLSTE IN
7192710 HOLSTEIN STATE BANK
7192790 HU,SSOLOT TRUST & SAVINGS BK HUMBOLDT
IOA GROVE
7192310 JOA COUNTY ST ATE BANK
I NOE PENO ENCE
7192820 FASSERS STATE SAVINGS BANK
I NOE PENO ENCE
7192e30 SECURITY STATE BANK
7192840 PEOPLES TRUST ANO SAVINGS BKINOIANOLA
INOIANOLA
7192S50 WA~qEN CTY BRENTON BK & TR
71qz5g5 HA<KEYE STATE BANK
IOWA CITY
low• C ITV
7192690 JOWi'\ STATE BK & TR COMPANY
IOWA FALLS
71929JO CITIZENS STATE BANK
IOWA FALLS
7192910 IO,;A FALLS STATE BANK
JEFFERSON
11 qz940 H0'1E STATE BANK
JEFFERSCN
7192950 JEFFERSON STATE BANK
JESUP
71CJ29b0 FAR•ERS STATE BANK
KALONA
7192990 FARSERS SAVINGS BANK
KALONA
7I qJO·'JO KALONA SAVINGS BANK
KELLOGG
7!'13020 KELLOGG SAVINGS BANK
7193040 KEOKUK SAVINGS BK ANO TR CO KEOKUK
KEOKUK
7193050 SECURITY STATE BANK
719301>0 STATE CENTRAL SAVINGS BANK KEOKUK
KECSAUQUA
7193070 FAq~ERS STATE BANK
7193120 KINGSLEY STATE BANK
KINGSLEY
KNOXVILLE
71931 l>O IOWA STATE SAVINGS BANK
7!93BO FARMERS AND SERCHMHS STATE LAKE Ml LLS
719~220 KER~OT BROTHERS SAVINGS BANKlANSING
11q3210 LAUSENS STATE BA~K
LAURENS
LAWLER
7193290 ST ATE BANK OF La.LER
lE MARS
7193320 LE "ARS SAVINGS BANK
LEON
7193341 DECATUR COUNTY STATE BA~K
7PH450 FAR"1ERS t SERCHANTS SVGS BK LONE TREE
MAPLETON
7\93650 MAPU:lCN TR ANO SVGS 8K
~AQUOKETA
7193660 JACKSON STATE BK t TR CO
MAQUCKETA
719~b65 M!\CVDKETA STATE BANK
MARE~GO
7l<J36?0 IO,<A COUNTY SAVINGS BANK
MAR I CN
7193695 FARSERS STATE BANK
71Q37l0 co.••ERC I AL STATE BANK
MAR SHALL TOWN
MARSHALL TOWN
7193710 F IOELITY BRENTON BK & TC
MASON CI TY
7193745 ASER ICAN STATE B4'1K
MEDIAPOLIS
1193810 MEDIAPOLIS SAVINGS BANK
MCUNT AYR
7194030 SECURITY STATE BANK
MOUNT PLEASANT
7194040 HENRY COUNTY SAVINGS BANK
MOUNT PLEASANT
7194045 MOUNT PLEASANT BK ANO TR
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
I A
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
IA
27650
15168
25231
42813
16780
34607
34762
29381
23247
59579
I 7484
20239
77033
31809
18440
31398
31482
I 5343
16600
16342
19362
24299
22179
43379
16201
14862
25243
16704
19701
19990
12500
39763
21145
IB655
15504
49265
44482
20600
54035
39923
55297
15699
16032
2nn
3115B
291B 5
1/17/79
121
VL TCSH
232
103
150
121
IOI
320
212
692
234
547
110
240
93B
162
178
155
137
104
75
65
86
464
320
624
1B8
54
363
1B7
153
127
66
544
214
Bl
52
418
178
174
451
552
733
330
IOI
91
463
206
131
141
1977
RE QB Al
NEW
EPA
0
0
0
0
0
0
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NAME
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NORTHWOOD STATE BANK
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PERRY STATE BANK
COM~ERCIAL STATE BANK
CITIZENS STATE BANK
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SHELDON
SIBLEY STATE BANK
SIBLEY
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Federal Reserve Bank of St. Louis
'ION•EM9ER BANKS
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1196125
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NAME
111
TDEP
LOCATION
STATE BK QF VINTON
VINTON
WALCOTT TRUST ANO SAVINGS BKWALCOTT
WALL LAKE SAYINGS BANK
WALL LAKE
SHTE BANK OF WAPELLO
WAPELLO
PEO•lE S BANK ANO TRUST CO
WATERLOO
FAR~ERS AND MERCHANTS SAVINGWAUKON
WAU~ON STATE BANK
WAUKON
STATE BANK OF WAVERl Y
WAVERLY
FIRST STATE DANK
WEBSTER CITY
WEST CRANCH STATE DANK
WEST BRANCH
W DES MOINES STATE BANK
WEST OE S MOINES
WEST LIBERTY STATE BANK
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SECUqlTY SAYINGS BANK
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207 BANKS AFFECTED IN STATE
131
76
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NON~EMBER BANKS
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111
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102016 70
102".J 1750
10201835
102018~0
10201940
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10201980
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10203270
10203320
10203350
10203030
10203640
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10203675
10203780
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10203875
NAME
TDEP
LOCATION
LYON COUNTY STATE BANK
HO~E BANK & TR CO lJF EUREKA
SECURITY STATE BANK
ST ATE BANK OF FREDONIA
EMPORIA
EUREKA
FORT SCOTT
FREDONIA
f JOEL ITY' STATE BANK
GARDEN CITY
WE STERN STATE BANK
GARDEN C ITV
F AR'4ERS BANK
GARONER
GARNETT
G•~~ETT ST•TE SAVINGS BANK
Sf.CUR I TY STATE BANK
GREAT BEND
FA.~SERS STATE BANK & TR CO HAYS
HAYSVILLE STATE BANK
HAYSVILLE
CITIZENS STATE ~•NK & TR CO Hl•~ATHA
SOR~lll & JANES BK & TR CO HIAWATHA
DENI SON STATE BANK
HOL TCN
HOXIE STATE B•NK
HOXIE
CITIZENS STATE BANK
HUGOTON
C!=NTRAL STATE BANK
HUTCHINSON
I NOE PEND ENCE
INDEPENDENCE STATE BANK
ALLEN COUNTY BANK & TRUST
IOLA
IOLA STATE BANK
IGLA
ARRO>HEAO S B OF KANSAS CITYKANSAS CITY
BROTHERHOOD STATE BANK
KANSAS C ITV
KANSAS CITY
DOUGLASS STATE BANK
FIDELITY STATE BANK
KANSAS CITY
FIRST ST BK OF KANSAS C ITV
KANSAS C ITV
GUI.RANTY STATE BANK & TRUST KANSAS C ITV
HO.'-tE STATE BANK
KANSAS CITY
KANSAS CITY
INDUSTRIAL STATE BANK
KAW V•LLEY STATE BK & TRUST KANSAS CITY
KANSAS C ITV
ROSEDALE ST SK t TR CO
TOWER STATE BANK
KANSAS C ITV
KANSAS C ITV
TWIN C ITV STATE BANK
STATE BANK OF KING•AN
KINGMAN
FIRST STATE BANK
KIOWA
LAWRENCE
OOUGL AS COUNTY STATE BANK
LAWRENCE
U'HVERSI TY STATE BANK
LENEU
LENEXA ST BK & TR CO
FIRST STATE BMlK
LEOTI
LIBERAL
CITIZENS STATE BANK
MC PHERSON
HO-•E STATE BANK & TRUST
MCPHERSON
•CPHcRSON ST SK & TR CD
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PEOPLES BANK & TR CO
CITIZENS STATE BANK & TRUST MANHATTAN
MARYSVILLE
E•C BK Of SCHMIOT & KOSTER
MINNEAPOLIS
UNITED BANK OF MINNEAPOLIS
MISSION
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314
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598
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215
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260
105
317
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NONMEMBER BANKS
OSB
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NAME
111
TOEP
LOCATION
l02J38~0 Ml SSION Sl BK & TR CO
10204080 KANSAS STATE BANK
MISSION
NEWTON
OAKLEY
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10204230 PATRONS STATE BK & TR CO
10204405 METCALF STATE BANK
OVE•LANO PARK
10204410 OVERLAND PARK ST BK & TR
OVERLAND PARK
OVERLAND PARK
10204415 RA~KH"1ART BANK & TR CO
OVERLAND PARK
l02a44l 7 VALLEY VIEW STATE BANK
PAOLA
10204460 CITIZENS STATE BANK
PAR SONS
10204500 PARSONS CO<MERC UL BANK
\0204580 FIRST ST ATE BANK & TRUST co PI TT SBURG
PRAIRIE VILLAGE
1020467B SOUTHGATE SANK & TR CO
ROELAND PARK
1J204895 "1104.'tER ICAN 8K & TR CO
ROSE Hill
10204690 ROSE HILL STATE BANK
RUSSELL
10204920 HOSE STATE BANK
RUSSELL
10204910 RUSSELL STATE BANK
SABETHA
10204940 FAR<ERS STATE BANK
ST FRANCIS
10204960 CITIZENS STATE BANK
SALINA
10205025 FIRST STATE BK & TR co
10205040 PLANTERS STATE BK & TR
SALINA
SCOTT CITY
10205063 SECURITY STATE 8ANK
SENECA
10205110 CITIZENS STATE BANK
SHAWNEE
10205155 CITIZENS STATE 8ANK
SHAWNEE
10205160 SHAw,iEE STATE BANK
SMITH CENTER
10205200 SSITH CTY ST BK & TR
SOUTH HUTCHINSON
10205225 SANK OF KANSAS
TE SCOTT
10205420 BANK OF TESCOTT
10205505 CAPITAL CITY ST BK & TR CO TOPEKA
TOPEKA
10205510 COMSERCE BANK & TRUST
TOPEKA
10205520 FIDELITY STATE BANK & TR
TOPEKA
10205535 HIGHLAND PARK SANK & TR
TOPEKA
10205540 KAW VALLEY ST SK & TR CO
TOPEKA
10205555 NORTH PLAZA STATE BANK
TOPEKA
10205565 SOUTHWEST STATE SANK
TOPEKA
10205580. TOPEKA BANK & TRUST
ULYSSES
10205670 GPANT cou•HY STATE 8ANK
10205705 ARKANSAS VALLEY STATE SANK VALLEY CENTER
WAKEENEY
10205175 TREGO WAKEEllEY STATE BANK
WICHITA
I020f015 BOULEVARO STATE BANK
WICHITA
10206016 CENTRAL BANK & TRUST
WICHITA
10206017 CITY BANK & TRUST CO
WICHITA
10200018 EAST SIDE SANK ANO TRUST
WICHITA
10206040 KANSAS STATE BANK & TR CO
WICHITA
10206045 SENECA ST BK OF WICHITA
WICHITA
10206058 TWIN LAKES STATE BANK
10206065 UNITED AMERICAN BK & TR CO WICHITA
10204170 FA'"ERS STATE BK OF OAKLEY
co
co
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NDN~EMBER BANKS
BENEFIT TD BANKS COVERED BY MODIFIED H.R. 1
Ill
DSB
NAME
10206075
10206165
10206167
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115 BANKS AFFECTED IN STATE
11
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31382
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331
209
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HAVE ND REQURED RESERVE BALANCE
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8210130
8210170
4210190
8210210
8210220
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8210340
4210430
8210450
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4210580
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8211170
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8211380
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--------------
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111
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LOCATION
8211405 FIRST STATE BANK
GREENVILLE
HARLAN
42ll4!0 BANK OF HARL AN
8211470 HAR TFORO BANK AND TRUST co HARTFORD
HAWESVILLE
8211490 HANCOCK BANK & TRUST CO
4211490 CITIZENS STATE BANK
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4211500 PEOPLES BANK
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8211530 FM SERS BANK ANO TRUST CO
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4211725 CITIZENS BANK
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8211810 BAN~ OF OLOHAH COMPANY
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8211900 LEITCHFIELD DPST BK & TR CO LEITCHFIELD
4211925 BANK OF LEXINGTON INC
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8212045 BANK OF LOU! SV!LLE-ROYAL BK LOU! SVILLE
8212170 STOCK YARDS BK & TR CO
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4212210 JACKSON COUNTY BANK
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8212230 FRH.lS BK & TR CO OF HADSNVLEHAOI SONVILLE
8212240 KENTUCKY BANK ANO TRUST CO HAOISONVILLE
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8212245 PECPLES SANK ANO TRUST CO
MANCHE STER
4212270 FIRST STATE BANK
MART IN
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9212315 LIBERTY SAVINGS BANK
4212330 BANK OF HAYSVILLE
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4212380 CVMSERCIAL BANK
8212430 FAR"ERS BANK
HILTON
8212450 MO,HICELLO 8ANKING COMPANY MONT I CELLO
8212510 U!J I ON BANK ANO TRUST COMPANYMORGANF IELD
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8212520 MORGANTOWN DEPOSIT BANK
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8212630 BANK OF HUqRAY
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8212650 UNITED CITIZENS BK & TR co NEW CASTLE
4212770 PEOPLES BA•K
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8212780 CENTRAL BA•K AND TRUST CO
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8212790 CITIZENS STATE BANK
8212840 PEOPLES BANK ANO TRUST CO
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8212670 CITIZENS BANK & TRUST CO
PADUCAH
8212875 PAWCAH BANK AND TRUST CO
4212920 BOURBON AGRICLTRL BK & TR COPARIS
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4212085 CITIZENS BANK OF PIKEVILLE
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8213030
4213050
8213070
8213080
8213090
4213105
4213110
4213130
8213160
8213210
6211310
8213340
8213360
8213465
8213490
4213520
8213530
8213550
8213570
4213640
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BANK JOSEPHINE
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FIRST BK & TR CO
PROVIDENCE STATE BANK
RICHMOND BANK
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KENTUCKY STATE BANK
CITIZENS UNION BANK
SHELBY COU'ITY TRUST BANK
PEOPlES 8A~IK
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SPRINGFIELD STATE BANK
POWELL CGUNTV BANK
FARY,ERS STATE BANK
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DEPOSIT BANK OF MONROE CTY
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UNITED BANK ANO TRUST CO
WOODFORD B4NK ANO TRUST CO
co~~ERCIAL BANK
BANK OF WHITESBURG
FIRST SECURITY BANK
BANK OF MC CREARY COUNTY
BANK OF WILLIAMSBURG
BANK OF WILLIAMSTOWN
PEOPLES COMMERCIAL BANK
WINCHESTER BANK
BENEFIT TO BANKS COVERED BY MODIFIED H.R. J
111
TDEP
lOCATION
PLEASUREVILLE
PRESTONSBURG
PRINCETON
PRINCETON
PROVIDENCE
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WILLIAMSBURG
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WINCHESTER
WINCHESTER
110 BANKS AFFECTED IN STATE
82
26
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KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
KY
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KY
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KY
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KY
KY
KY
KY
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15813
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31480
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15477
57156
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27152
19579
21468
17155
19460
28077
28682
30894
24302
45892
19593
21170
24534
21119
34270
51377
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121
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103
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532
553
334
382
930
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309
271
392
154
375
244
274
458
302
242
317
507
528
477
336
941
626
676
620
213
406
407
131
1977
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BANK OF ABBEYVILlE & TR CO
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BAKER BANK ANO TRUST CO
BANK OF MOREHOUSE
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BATON ROUGE BANK & TRUST CD
151
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--------------------------------------------------------------------------------6220010
622002 5
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Federal Reserve Bank of St. Louis
NON~EMBER BANKS
BENEFIT TO BANKS COVERED SY MODIFIED H.R. 7
Ill
DSB
~22008 7
11220120
11220145
11220150
11220166
6220170
6220190
6220185
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11220270
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6220545
6220550
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11220590
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6220623
622062 5
NAME
LOCATION
BATON ROUGE
CAP IT Al BANK ANO TRUST CO
CADDO TRUST AND SAVINGS BK BELCHER
BLANCHARD
PE OPlE S BANK & TR CO
BOSSIER CITY
BOSSIER BANK ANO TRUST CO
REO RIVER VALLEY BANK
BGSS IER CITY
FAR"ERS-MERCHANTS BK&TR CO BREA~X BRIDGE
BUSK IE
AVOYELLES TR ANO SVGS BK
su,,<1 E BANK & TRUST COMPANY au,1• 1 E
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FAR,ERS STATE BK & TR CO
CHURCH POINT
CLINTON
CLINTON BANK ANO TR CO
BANK CF COUSHATTA
COUSHATTA
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CITIZENS BK ANO TRUST CO
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LOUISIANA BANK AND TRUST co CROWLEY
GUARANTY BANK & TRUST CD
DELHI
DENHAM SPRINGS
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CITY SAVINGS SANK ANO TR co OE RIDDER
EUNICE
ACAOIANA BANK
TRI PARISH BANK ANO TRUST COEUNICE
FAR MERV lllE
FAR,ERVILLE BANK
CCM.,ERC I Al BANK ANO TRUST COFRANKLI N
FRANKLIN
ST MARY BANK AND TRUST CO
FIRST STATE BANK ANO TR CO FRANKLINTON
WASHINGTON SANK ANO TRUST COFRANKLINTON
ST ATE SANK AND TRUST CO,SPANYGOLOEN MEADOW
GONZALES
8 ANK CF GONZALES
GRETNA
BANK OF THE SOUTH
GUA~ANTY BANK ANO TR CO
GRETNA
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GRETNA
HAMMOND
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HARVEY
CONTINENAL BANK
PlA~ITER.S BK. C. TR CO
HAYNESVILLE
A•ERICAN HNK ANO TRUST CO HOUMA
PROGRESSIVE BANK & TRUST CO HOIJMA
TEaREBOSNE BANK & TRUST CO HOUMA
co.••uN !TY ST ATE BANK
INDEPENDENCE
JEFFERSON SANK & TR CO
JEfFERSON PARISH
FIRST METROPOLITAN SANK
JEFFERSON PARISH
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130 BANKS AFFECTED IN STATE
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LA
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LA
LA
LA
LA
LA
LA
LA
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564
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225
412
300
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29516
26929
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25370
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25206
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903
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131
0
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255
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429
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161
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DEPOSITORS TRUST COMPANY
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BENEFIT TO BANKS COVERED BY HOOIFIEO H.R. 7
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NAME
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1230545 NE BK OF LEWISTON & AUBURN LEWISTON
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5240015
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129
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----------------------------------->5240090
5240130
524(\240
5240310
5240130
5240350
5240354
5240356
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CARROLL TON BANK OF BALT I HORE BAL TIHORE
BALT IHORE
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HERC ANTI LE SAFE OEP & TR CO BALTIMORE
BEL AIR
COMMERCIAL & SAVINGS BANK
BERLIN
CALVIN 8 TAYLOR BANKING CO
BETHESDA
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KENNEOY BANK & TRUST COHPANYBErHESOA
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BRANDYWINE
BANK CF BRANOYWINE
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TALBOT BANK
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FRED ER !CK
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HAMPSTEAD BK Of CARROLL CTY HAMPSTEAD
HILLCREST HTS
BANK OF KARYL ANO
HYATTSVILLE
SUBURBAN TRUST COMPANY
LA PLATA
BANK CF SOUTHERN HARYlA"'O
---------------MO
MO
HO
HO
MO
HO
HO
HO
HO
HO
HO
HO
MO
MO
HO
HO
HO
HO
MO
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57515
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391874
40969
35757
63572
25721
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19936
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25614
19556
47023
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31815
20067
22675
53607
22450
68549
17657
26001
58245
75971
21866
63419
950130
34826
1920
0
26913
2840
0
845
1052
1828
144
847
594
332
491
341
786
1365
211
414
410
1266
557
1822
261
868
1975
2322
299
1786
24240
811
0
0
0
0
5185
5149
0
31222
0
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0
0
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0
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10768
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0
0
0
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1008
100
0
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487
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0
115
0
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524
0
174
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5226
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NON-~EHBER BANKS
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NAME
5241125
5241170
5241275
5241365
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PEN IN SULA BA~K
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CITIZENS BK & TR CO OF HD
A~ERICAN BANK OF MARYLAND
S•A~KS STATE BANK
SUDLERSVILLE BANK OF HD
P[OPLES SECURITY BANK OF HD
TANEYTOWN BANK & TRUST
CASROll CTY BA~K & TRUST CO
WEST~INSTER TRUST COHPA~Y
TDEP
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OXON Hill
PRINCE FREDERICK
PRINCESS ANNE
0UEENSTChN
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SILVER SPRING
SPARKS
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42 BANKS AFFECTED IN STATE
28
10
MD
HD
HD
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HD
HD
HD
HD
HD
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30665
18498
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16628
48283
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458872
191481
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15117
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37239
1117/19
121
VLTCSH
723
259
786
357
l ll9
436
12665
4553
657
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3098
534
1883
733
131
1977
REQBAL
141
NEW
EPA
ATTLEBORO TRUST COMPANY
BAYBAN~ AND TRUST CO~PANY
BOSTON SAFE DEPST & TR CO
BRAOFORO TR CO OF 80ST0)1
CAPITOL SANK & TRUST CO
CITY BANK ANO TqusT CO~PANY
CCM~ONWEALTH BANK AIID TR CO
INVESTORS BAN< & TRUST CO
UIIITEO STATES TRUST COMPANY
BROO<LINE TRUST COMPANY
OLD CLNY BET CO OF MDLSX CY
BAYBANK HARVARD TRUST CO
CAM3•IOGE TRUST COMPANY
CHARLESSANK TRUST CO
FIRST 8At1K ANO TRUST co
BAYBAtlK NORFOLK CTY TR CO
8 H C DURFEE TRUST COMPANY
FAL~OUTH BANK & TRUST CO
FRAMINGHAM TRUST CO
LINCOLN TRUST CO>IPA'lY
ARLINGTON TRUST COMPANY
LOWELL BANK & TRUST CO
ESSEX COUNTY BANK£ TR co
HALDEN TRUST COMPANY
ATTLEBORO
BEVERLY
BOSTON
BOSTON
BOSTON
BOSTON
BOSTON
BOSTON
BOSTON
BROOKLINE
BURLINGTON
CAMBRIDGE
CAMBRIDGE
CAMBRIDGE
CHELMSFORD
DEDHAM
FALL RIVER
FALMOUTH
FRA~INGHAH
HINGHAM
LAWRENCE
LOWELL
LYNN
MALDEN
161
DIF
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5324
0
0
0
0
0
0
0
0
0
0
0
0
-5324
0
0
0
0
0
0
0
0
5028
4385
0
0
1546
0
0
0
-963
0
0
0
0
0
0
0
0
0
•
••
•
••
•
•
•
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESEIWE BALANCE
HAVE NO REQUREO RESERVE BALANCE
---------------
-----------1250170
125022 5
l2502BO
1250283
1250295
125a310
1250315
1250425
1250591
1250710
1250728
1250732
1250750
1250755
125a835
1250995
1251110
1251135
1251260
1251525
125l7JO
l251R7B
1251940
1252020
151
NEW
REQBAL
HA
HA
HA
HA
HA
HA
HA
MA
HA
MA
HA
HA
HA
HA
MA
HA
MA
HA
HA
HA
MA
MA
MA
HA
44473
54653
161208
24111
82602
74326
70073
1092
119652
51818
30752
303253
55134
21680
43465
439552
84226
22367
88191
32827
364526
23325
166769
47600
745
1354
2825
700
843
1764
1409
411
1936
789
283
4440
1015
390
682
7500
1609
404
2141
396
4841
510
2424
1192
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
318
486
3908
0
1791
1000
1016
0
3789
1394
550
5094
1065
0
1057
5077
1256
0
1265
78
5163
0
5091
576
0
0
3741
0
0
0
0
0
0
0
0
6709
0
0
0
10069
0
0
0
0
7988
0
335
0
0
0
-37H
0
0
0
0
0
0
0
0
-6709
0
0
0
-10069
0
0
0
0
-7988
0
-335
0
.
•
••
•
•
•
•
•
•
•
•
•
••
•
•
t.:>
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00
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NON~EMBER BANKS
DSB
NAME
125222 C
1252280
1252350
1252405
1252465
1252725
1252755
1252!325
1252845
1252900
1252970
1252995
1252997
1253190
1253304
IB3315
1253322
1253395
1253445
125 3545
1253735
1253740
1253750
111
TDEP
LOCATION
MIDDLEBOROUGH TRUST COMPANY HIOOLEBORO
METROBANK AND TR CO/NORFOLK Mil TON
NATICK TRUST COMPANY
NATICK
SOUTHEASTERN BK & TR CO
NEW BEDFORD
UNIVERSITY BANK & TRUST CO NEWTON
BE~KSHIRE BANK AND TRUST CO PITTSFIELD
FIRST AGRICULTURAL BANK
PITTSFIELD
HANCOCK BK & TR CO
QUINCY
QUINCY
SOUTH SHORE BANK
ROCKLAND TRUST COMPANY
ROCKLAND
SAUGUS BA~K & TRUST CO
SAUGUS
SOMERSET
SLAOES HRRY TRUST CO
CENTURY BANK & TRUST CO
SOMERVILLE
VALLEY BANK A'IO TRUST CO
SPRINGFIELD
SHh~UT HLRSE-WKFLO BK&TR COWAKEF IELO
BAY84NK NEWTON-WAL THAM TC
WALTHAM
GUARANTY FIRST TR CO
WAL THAM
COOL IOGE BANK ANO TRUST CO WATERTOWN
OLD CLNY B&T CO OF NRFLK CTYWELLESLEY
PARK WEST BA'IK & TR CO
WEST SPRINGFIELD
WORCESTER
COH~ERCE BK & TR CO
GUARANTY BANK ANO TRUST CO WORCESTER
WORCESTER
~ECHANICS BANK
OF
H
BANKS AFFECTED IN STATE
12
26
MA
MA
MA
MA
MA
MA
HA
MA
HA
HA
HA
MA
HA
HA
MA
HA
HA
HA
HA
HA
HA
HA
HA
726•J4b0
77.60490
726)510
7260550
ADRIAN STATE BANK
ALGmlAC SAVINGS BANK
BAN~ OF AL~A
Al PENA SAYINGS BANK
PEO•LES BK & TR OF ALPENA
AN~ ARBOR TRUST COMPANY
CO•<UNITY BANK
GLADWIN COUNTY BANK
BELLAIRE STATE BANK
J!llTER-CITY BANK
CENTRAL STATE BANK
CE~TRAL MICHIGAN BANK & TR
FIDELITY SANK CF MICHIGAN
JIPSON CARTER STATE BANK
B~IGHTON STATE BANK
23919
21359
24042
45812
37213
93341
126437
100782
264515
111724
30078
21200
51167
285181
51693
380540
72739
133587
17403
0045
46730
261506
127825
Ill
VLTCSH
911
349
957
998
1063
2658
2630
1342
6'36
3417
722
1186
748
4610
747
8098
1812
1345
290
963
499
3808
2745
131
1911
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
0
0
0
273
0
769
3090
3678
5096
1795
0
0
619
5103
1226
5112
1161
4348
0
156
707
5097
3338
151
NEW
REQBAL
0
0
0
0
0
0
0
0
3111
0
0
0
0
3951
0
6299
0
0
0
0
0
4532
0
161
DIF
131-151
0
0
0
0
0
0
0
0
-3111
0
0
0
0
-3951
0
-6299
0
0
0
0
0
-4532
0
••
••
•
•
•
•
•
•
••
•
HAYE NO EARNINGS PARTICIPATION ACC_OUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
---------7260020
7260030
7260105
7260130
7260140
7260170
72602'0
77603 70
726J3S0
7U0415
7260440
1111/19
BENEFIT TO BANKS COVERED BY MODIFIED H.R. l
----------------------------------------- \ AORI AN
ALGONAC
AL~A
ALPENA
ALPENA
ANN ARBOR
BAO AXE
BEAVERTON
BELLA I RE
BENTCN HARBOR
BEUL AH
BIG RAPIDS
BIRMINGHAM
BLI SSfl ELO
BRIGHTON
HI
HI
HI
HI
HI
HI
HI
HI
HI
HI
HI
HI
HI
HI
HI
32601
34837
63240
82207
71193
69681
64084
17912
14725
l 25528
15118
48949
46453
18618
73562
768
517
835
1074
903
159
907
356
217
2511
226
757
558
234
1879
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
·593
989
786
1524
334
0
0
2343
0
l
418
0
90
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
•
•
•
•
.
.••
•
•
~
~
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NON~EHBER BANKS
DSB
7260620
726062 5
7260680
7260690
7260710
7260780
72609JO
7260920
7260990
7261060
7261070
7261225
7261260
7261270
72SJ2ijO
9261315
92>1400
7261440
7261'53
7261560
7261;80
7261590
7261620
9261650
7261660
7261670
7261695
7201820
7261~55
7261860
7261830
7261940
7261950
7261%0
7262J30
7262110
7262140
7262150
7262160
1262190
7262185
7262305
7262360
7262450
7262522
1262583
NAHE
BENEFIT TO BANKS COVERED BY HOOi F JED H.R. 7
111
TOEP
LOCATION
CADILLAC STATE BANK
CADILLAC
Fl~ST BANK OF CADILLAC
CADILLAC
PEOPLES STATE BANK
CARO
STATE SVGS BK OF CARD
CARO
EXCHlNGE ST ATE BANK
CARSONVILLE
CtURLEVOIX COUNTY STATE BANKCHARLEVOIX
STATE SAVINGS BANK
CLINTON
BRANCH COUNTY BANK
COLDWATER
STATE BANK OF MICH
COOPERSVILLE
SANILAC COUNTY BANK
DECKERVILLE
DEERFIELD STATE BANK
DEEAFIELD
COSSUNITY ST BK OF DOWAGIAC DOaAGIAC
FIPST STATE BANK
EAST DETROIT
IIORTHWESTERN STATE BANK
EAST JORDAN
EAST LANSING STATE BANK
EAST LANSING
NORTHERN MICHIGAN BANK
ESCANABA
STATE BANK OF ESCANABA
ESCANABA
FARWELL STATE SAVINGS BANK
FARWELL
STATE SVGS BK Of FENTON.
FENTON
FRANKENMUTH
FRANKENMUTH BANK & TRUST
STATE BANK OF
FRASER
FREELAND STATE BANK
FREELAND
ERIE STATE BANK
FRENCHTOWN TWP
GLADSTONE STATE BANK
GLADSTONE
SID-MICHIGAN BANK
GLADWIN
FIRST SCRTY BK OF GRND BLANCGRAND BLANC
SECUQITY FIRST BK ANO TR CO GRANO HAVEN
FIRST SB OF GREENVILLE
GREENVILLE
FAR<ERS ANO MERCHANTS STATE HALE
MNK CF CCSMEPCE
HAMTRAMCK
HAMTRA,.CK
PEOPLES STATE BANK
OCHNA COUNTY SAVINGS BANK HART
VAN ~UREN ST ATE BANK
HARTFORD
HASTINGS
H~STJNGS CITY BANK
HONO~ STATE BANK
HONOR
HCWARO CITY
WESTERN STATE BANK
MCPHERSON STATE BANK
HOWELL
HUDSON STATE SAYINGS BANK
HUDSON
THO,SPSON SAVltlGS BANK
HUDSON
IHLAY CITY
IHLAY CITY STATE BANK
FIRST SECURITY BANK
IONIA
MIDWEST BANK
JACKSON
KALAMAZOO
INDUSTRIAL STATE BK
TR
LAKE ODE SSA
UNION BANK
NBD CCMSERCE BANK
LANSING
LEWISTON STATE BANK
LEWISTON
HJ
HJ
HI
HI
HI
HI
HI
HJ
HI
HI
HI
HI
HI
Ml
HI .
HI
HI
HI
HI
HI
HI
HI
HI
HI
HI
HI
Ml
HI
HI
••
HI
HI
Ml
Ml
Ml
Ml
HI
Ml
HI
HI
HI
Ml
HI
Ml
Ml
HI
132789
27650
25068
23339
20574
21567
21849
48082
26894
14798
17328
17898
82283
47869
93462
37019
35527
13287
50045
177485
109066
15690
22309
12423
43547
23294
94837
30095
32365
200879
72935
26802
19470
36422
12420
15079
51796
24030
24247
19823
72935
41677
124143
15089
20855
20515
1/17/79
121
YL TCSH
1666
363
no
338
263
258
406
504
584
265
268
401
2982
741
1075
500
251
296
757
2556
1266
334
508
225
1163
210
1464
315
717
3389
732
368
360
691
146
296
954
296
347
242
1098
869
1971
217
459
282
131
1977
REOBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
a
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
2349
0
0
0
0
0
0
196
0
0
0
0
0
0
2033
27
301
0
113
3049
2229
0
0
0
0
0
1046
64
0
3063
B36
0
0
0
0
0
90
0
0
0
151
NEW
REOBAL
339
0
0
0
0
0
0
0
0
-339
0
0
0
0
0
0
0
0
-460
0
0
0
0
0
0
0
0
0
383
-383
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
560
a
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
460
0
0
0
0
0
0
0
0
0
0
2533
0
0
161
OIF
131-151
0
0
0
0
0
0
0
0
0
0
0
..••
•
•
.•
•
•
•
•
*
•
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.•
•
•
•
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NONMEMBER BANKS
058
7262600
7262620
7262650
7262740
7262715
7262800
7Z6?e75
7262940
12ft2960
7263010
7263080
7263120
9263140
7263280
7263316
7 26 B20
721,3)40
7263480
7 2B520
7263530
7263570
72636 70
720720
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7263760
7261770
7263810
72639)0
7263840
726'),IJSO
9263890
7263qoo
7263910
726Jq30
'17-b3 1H,O
7 263'H0
7264040
7264050
92b4070
7264120
7264140
7264170
7264200
726421)1
7264300
7264452
NAME
Ill
TDEP
LOCATION
LITCHFIELD STATE SAVINGS BK LITCHFIELD
LUDINGTON BANK AND TRUST
LUDINGTON
HANC EL ONA
ANTRIM COUNTY STATE BANK
MARINE CITY
MARINE BA~K & TRUST
MASON STATE BANK
MASON
~AYV1LLE STAH BANK
MAYVILLE
FIRST ~!OLANO BK & TR
MIDLAND
MONRCE
MON~OE BANK & TRUST
"-OIHROSE STATE BANK
MGrlTROSE
M(JU'H CLE,"1ENS BANK
MOUNT CLEMENS
MUSKEGON BANK ANO UUST CO MUSKEGON
FIRST STATE BANK OF NEWAYGO NEWAYGO
NEWBERRY
N='rlfl.ER~Y STATE SANK
OSCODA STATE SAVINGS BANK
OSCODA
OWOSSO
KEV STATE BA~K
OWOSSO SAVINGS BANK
OWOSSO
OXFORD
OXFOQ.O SAVINGS BANK
PONT I AC STATE BANK
PONT I AC
PORT HURON
PEOPLES BK OF PORT HUROII
MAYNARD ALLEN STATE BANK
PORTLAND
REED CITY
REED CITY STATE BANK
PRESQUE ISLE BANK
ROGERS CITY
ROYAL OAK
'tfA YNE OAKlANO BANK
FIRST STATE BANK OF SAGINAW SAG I NAW
ST CHARLES
CMSNTY ST BK OF ST CHARLES
COMSERCIAL ANO SAVINGS BANK ST CLAIR
ST JOSEPH
PEOPLES STATE BANK
SALi NE
CITIZENS BANK OF SALINE
SAU NE
SALINE BANK
SANDUSKY
SOLVER INE STATE BANK
SAULT STE MARIE
SAULT SAVINGS BANK
KALAHAZCO COUNTY STATE BANK SCHOO LC RAFT
SCOTTVILLE
STATE SAVINGS BANK
SHELBY STATE BANK
SHELBY
SHEPHERD
SHEPHERD STATE BANK
ST ATE SVGS BK OF SOUTH LYON SCUTH LYON
STATE BK OF STANO I SH
STANDISH
STANTON
"O"'CALM CENTRAL BANK
STEPHENSON
BANK OF STEPHENSON
TECUMSEH
UN I TEO SVGS BK OF TECUHSEH
THREE OAKS
BANK OF THREE OAKS
TRAVERSE C ITV
TR4VERSE CITY STATE BANK
TRENTON
TRENTON STATE BANK
TROY
FIRST CITIZENS BANK
WAYLAND
WAYLAND STATE 8ANK
CCM,SUNITY BANK OF WASHTENAW YPSILAN71 ThP
co
co
Ml
Ml
Ml
Ml
HI
HI
HI
HI
Ml
HI
HI
HI
HI
HI
Ml
HI
Ml
Ml
HI
HI
HI
Ml
HI
Ml
HI
HI
HI
HI
HI
Ml
Ml
HI
Ml
Ml
HI
HI
HI
HI
HI
HI
HI
HI
HI
Ml
Ml
HI
31031
31359
15545
28179
30283
13860
71907
145354
14422
117749
115409
12509
15271
195B2
45696
130218
31498
336620
129591
26760
19035
25316
369742
68281
22372
97568
42277
41244
2127"
61898
45077
19413
27492
21195
12755
23268
42494
38654
20968
76743
28440
142904
68373
29098
33422
22830
1/17 /19
121
VLTCSH
738
680
335
367
699
203
1343
1907
439
1709
1561
230
153
486
799
2028
770
5275
1880
523
377
31 7
6492
2093
488
1339
1027
677
306
631
275
403
527
119
199
691
752
481
215
860
433
2207
1295
531
649
438
131
141
1917
NEW
REQBAL
EPA
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
585
3172
0
2446
0
0
1904
0
0
0
0
0
2414
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
151
NEW
REQBAL
161DIF
131-151
0
0
0
0
0
0
0
104
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-104
0
0
0
0
0
0
0
0
0
2918
-2918
0
0
0
0
0
0
0
0
0
0
0
5133
4159
-4159
0
0
1207
0
0
0
702
399
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5128
2367
15
0
0
0
39
0
888
0
2883
326
0
0
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NON.SEMBER BANKS
BENEFIT TO BANKS COVERED BY HOOIF IEO H.R. 7
NAME
DSB
LOCATION
7264460 FIRST MICHIGAN BK ANO TR CO ZEElAND
OF
108 BANKS AFFECTED IN STATE
HI
67
34
1111119
I II
TDEP
121
VLTCSH
165178
1593
131
19H
REOBAL
0
141
NEW
EPA
3662
I 51
NEW
REC BAL
816
161
DI F
I 31-151
-BIi,
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
-------------------------------------------------------------------------------------------------------------9270050
9270120
9270125
9270130
q210210
9270240
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ARLINGTON ST ATE BANK
FIRST STATE BANK OF BAYPORT
SHTE BANK Of BELLE PLAINE
FIRST STATE BANK OF BENSON
SSIFT COUNTY BANK
ST ATE BANK OF BIRO I SL ANO
FAR"ERS & .SERCHANTS ST BK
CCH~UNITY STATE BANK
BLUE EMTH STATE BANK
FIRST STATE BANK
CITIZENS STATE BANK
FAR"1ERS £ MERCHANTS ST BK
FIRST BROOKDALE STATE BANK
CALEDONIA STATE BANK
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PEOPLES STATE BANK
CITllENS STATE BANK
MARQUETTE ST BK OF COLUMBIA
POLK CTY STATE BANK
CRYSTAL STATE BANK
NW ST ATE BK OF DAWSON
DETROIT STATE B&.NK
NORTHWESTERN STATE BANK
SOUTHWEST FIDELITY STATE BK
MIN~ETONKA STATE BANK
STATE BK OF FAR I BAULT
STATE BAN~ OF FOLEY
FOREST LAKE STATE BANK
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"ION.,EMBER SANKS
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9272350 POPE COUNTY STATE BANK
9272355 GCLDEN VALLEY STATE BAN~
9272450 G~ANITE FALLS BANK
9Z7 24~0 YELLOW MEDICINE COUNTY BANK
927~480 CITIZE"IS STATE BANK
N..i STATE BK OF HALLOCK
CIZ72790 SERCHANTS C MINERS ST BK
9272900 SECUSI TY STATE BANK
9272150 CITIZENS B~ C TRUST CO
9272980 INTERt-lAT IONAL STATE BANK
027317C Sr.CUR I TY ST BK OF KHIYON
9273270 LAKE CITY STATE BANK
9273315 FIRST STATE BK OF LAKEFIELD
92734-,5 FIRST STATE BANK
927~630 ~WRTHWESTERN STATE BANK
9273750 ASER ST 8< OF MANKATO IINCI
qz131sz SEC UR ITV ST ATE BANK
9U3815 HILLCaEST MID A~ ST BK
9273850 WS Tq_N BK t TR OF MRSHALL
927.3.890 MELROSE STATE BANK
92739b0 CA"DE~ NORTHWESTERN ST BANK
9274038 FIRST PRODUCE STATE BANK
9274058 SARQUETTE LAKE STATE BANK
9274065 HETROPCllTAN STATE BANK
9274075 NORTHEAST STATE BAW<.
9274130 1ST ST BK OF MINNEOTA
9274158 NORTHWESTERN STATE BANK
9274180 CITIZENS STATE BANK
q274i<JO WRIGHT COUNTY STATE BAlfK
92 74200 A,~ 9ANK C TR CO OF MOORHEAD
9274215 MOORHEAD ST ATE BANK
9274230 KANABEC ST.UE BANI<.
927425C CITIZENS BANK
9274260 HORRIS STATE BANK
9274290 ST ATE BANK OF HOUND
9274360 FIRST STATE BANK
9274410 TOWN C CNT ST BK OF NEWPORT
9274430 STATE BAN<
9274450 CITIZENS STATE BANK
92'744b0 FAR•E•S C MERCHANTS ST BK
92744 TO STATE BK t TR CO Of NEW ULH
Q274480 FARMERS t. "tERCH ST BANK
9]74500 HERITAGE ST BK N ST PAUL
92 7463 0 CITIZENS ST BK OF OLIVIA
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BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
LOCATION
GLENWOOD
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GRANITE FALLS
GREEN ISLE
HALLOCK
HISSING
HI BP. ING
HUTCHINSON
INTERNATL FALLS
KENYON
LAKE CITY
LAKEFIELD
LITCHFIELD
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MANKATO
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MINNEAPOLIS
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MINNEAPOLIS
MINNEOTA
HONTEVIOEO
MONTGOMERY
MONT ICEllO
MOORHEAD
MOORHEAD
MORA
MCRRIS
MORRIS
MOUND
NEW BRIGHTON
NE WP CRT
NEW PRAGUE
NEW ULM
NEW ULM
NEW ULM
NEW YORK MILLS
NOR TH ST PAUL
OLIVIA
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Federal Reserve Bank of St. Louis
'10,.MEHBER BANKS
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9274755 HRMERS & MERCHANTS ST BK
9274760
9274770
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LOCATION
OWATONNA
PAYNESVILLE
FIRST STATE BANK
PAYNESVILLE
?EL ICAN VALLEY STATE BANK
PELICAN RAPIDS
U•k'..ELANO STATE BANK
PEQUOT LAKES
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STATE BK OF REO'r/000 FLS
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RICHFIELD BANK AND TRUST CO RICHFIELD
FIRST ROBBINSDALE ST BK
ROBB I NSOALE
GUARUHY STATE BANK
ROBBINSDALE
MARQUETTE enc OF ROCHESTER ROCHESTER
ROCHESTER BK & TR CO
ROCHlSTER
ROSEAU
CITIZENS STATE BANK
F 1,sT STATE BANK
ROSEMOUNT
ROSEVILLE
N STAR ST BK OF ROSEVILLE
ROSEVILLE
ROSEVILLE STATE BANK
ST SK OF ST ANTHONY VLG
ST ANTHONY VLGE
NW BK & TR CO OF ST CLOUD
ST CLOUD
ST JAHE S
CITIZENS ST BK Of ST JAMES
CITIZENS STATE BANK
ST LOUIS PARK
ST LOUIS PARK
I ST WE SB OF ST LOUIS PARK
CAPITAL CITY STATE 3ANK
ST PAUL
CHEqQKEE STATE BANK
ST PAUL
CCSSERCIAL STATE .BANK
ST PAUL
ST PAUL
EASTERN HTGS STATE BANK
FIRST GRANO AVE STATE BK
ST PAUL
FIRST MERCHANTS STATE BANK
ST PAUL
FIRST SEC SB OF ST PAUL
ST PAUL
FIRST STATE BANK
ST PAUL
HI O AMERICA ST BK CF HGLD PKST PAUL
ST PAUL
MN STATE BANK OF ST PAUL
ST PAUL
NORTHWESTERN STATE BANK
ST ANTHONY PARK STATE BANK
ST PAUL
ST PAUL
WESTERN SB OF ST PAUL
ST PETER
NICOLLET COUNTY BANK
FIRST STATE BA~K
SAUK CENTRE
NW S9 OF SAUK RAPIDS
SAUK RAPIDS
SLAYTCN
NORTHWESTERN STATE BANK
FIRST SECU~ITY STATE BANK
SLEEPY EYE
DROVERS STATE BANK
SOUTH ST PAUL
SUHMIT ST BK CF S ST PAUL
SOUTH ST PAUL
SPR l'IGFI ELD
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SPRINGFIELD
STATE BANK OF SPRINGFIELD
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Federal Reserve Bank of St. Louis
BENEFIT TO BANKS COVERED BY HOOi F !ED H.R. 7
NO~MEMBER BANKS
NAME
058
9275880
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92759H
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9276020
9276040
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NO ST BY. Of THIEF RVR FALLS
NORTHWESTERN STATE BANK
PEC 0 LES STATE BANK
NORTHERN STATE BANK
FIRST ST BK Of WABASHA
SEC UR I TY STATE BANK
WA~OA STATE BANK
STATE BAN, Of WARREN
fl R ST STATE BK OF WASECA
WH l OT A BANK ANO TRUST CO
WESTOROOK STATE BANK
SIG•IAL HILLS STATE BANK
ST ATE BANK OF WHEATON
FIRST STATE BANK
8K OF WILLMAR & TR CO
WINDOM STATE BANK
STATE BANK OF WORTHINGTON
STATE BK OF YOUNG AMERICA
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STEPHEN
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THIEF RIVER FALLS
TRACY
HUMAN
VIRGINIA
WABASHA
w•NA~INGO
WANDA
WARREN
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131
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HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
-----------------
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8280030
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BAY ST LOUIS
MERCHANTS BANK ANO TR CO
BAY SPRINGS
BAY SPRINGS BANK
BELZONI
CITIZENS BANK & TRUST CO
GU>RAIH Y BANK ANO TRUST CO BELZONI
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CARTHAGE
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Federal Reserve Bank of St. Louis
NON~EMBER BANKS
BENEFIT TO BANKS COVERED BY MOOIFIED H.R. 7
111
DSB
NAME
LOCATION
82~0330 CLEVELAND STATE BANK
6280370
8280430
6290540
62806•)0
8280670
92~0700
6280730
6290760
6280770
8280790
8280790
a2soe10
82€0850
8280870
62SOSl5
8280935
8280940
62 eo 95 a
620oq00
8280':190
8281020
8281035
6281040
6281065
8281100
6231130
8281150
6281170
b2811SO
62812)0
6281210
6281240
6281260
82~13)0
6281330
62ql410
6291430
6281440
6281530
6281550
6281555
9281590
8281620
R281660
8281670
CLEVELAND
CITIZENS BANK
COLU~BIA
SECIJR I TY BANK
COR !NTH
~ERCKANTS & MANUFACTURERS BKELLI SVILLE
FARMERS ANO MERCHANTS BANK FOREST
BANK CF COM.~ERCE
GREEtlWOOO
GRENADA BANK
GRENADA
HANCOCK BANK
GULFPORT
BANK OF HAZLEHURST
HAZLEHURST
ME•CHANTS ANO PLANTERS BANK HAZLEHURST
HERNANDO 9ANK
HERNANDO
BAN< OF HOLLANDALE
HOLLANDALE
FIRST STATE BANK
HOLLY SPRINGS.
PEOPLES BK OF INOIANOLA
INDIANOLA
IUKA GUlRANTY BANK
IUKA
MISSISSIPPI BANK
JACKSON
ATTALA BAN< CF KOSCIUSKO
KOSCIUSKO
MERCHANTS AND FARMERS BANK KOSCIUSKO
BA ~lK. OF LAUREL
LAUREL
BANK OF LEAKESVILLE
LEAKESVILLE
BANK OF LELAND
LELAND
HOLMES CTY BK & TR CO
LEXINGTON
CITIZENS BANK AND TRUST co LOUISVILLE
BASK OF LUCEDALE
LUCEDALE
B°'K CF MCCOMB
~CCOMB
MERCHANTS AND FAR~ERS BANK MACON
HAG NOLI A
SOUTHWEST MISSISSIPPI BK
CITIZENS BANK AND TRUST CO MARKS
BANK er FRANKLIN
MEADVILLE
PEOPLES BANK
MENDENHALL
FIRST UNITED BANK OF Ml SS
HERIOIAN
MERCHANTS ANO FARMERS BANK HER IOI AN
BA.SK GF MORTON
HORTON
MOU~T OLIVE BANK
~OUNT OLIVE
BANK OF NEW AL SANY
NEW ALBANY
NEWTON COUNTY BANK
NEhTGN
MER.CHANTS ANO MARINE BANK
BANK CF PHILADELPHIA
CITIZENS BANK
BANK GF PRENTISS
BAN~ CF QUITMAN
SOUTHEAST MISSISSIPPI BANK
PfOPLES BASK
PLANTERS BANK AND TRUST CO
PEOPLES BANK
SENATOBIA BANK
PASCAGOULA
PH!LAOELPHIA
PHILADELPHIA
PRENTISS
QUITMAN
QUITMAN
RIPLEY
RULEVILLE
SENATOBIA
SENATOBIA
TDEP
MS
MS
HS
HS
MS
MS
MS
HS
HS
MS
HS
HS
MS
HS
HS
HS
MS
HS
HS
MS
MS
HS
HS
MS
HS
HS
MS
MS
HS
MS
MS
HS
HS
HS
MS
MS'
MS
MS
MS
MS
MS
MS
HS
MS
MS
MS
39490
32876
46220
18849
25066
21285
298524
237500
27145
17261
28715
21123
15435
21912
21442
199674
16265
61430
16245
16059
19455
22428
24429
20211
33428
27617
29659
22605
18634
23187
62676
71469
19699
17307
21585
33512
55367
18036
34961
17794
30666
19294
31387
41020
20956
1 7566
1/17/79
121
VL TCSH
715
349
1017
423
368
490
5052
3628
433
329
500
327
253
404
535
2670
220
1585
480
389
287
567
397
453
658
320
403
319
421
396
2223
1574
343
229
335
557
3132
169
581
307
770
297
717
965
219
543
131
1977
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10
NEW
EPA
151
NEW
REQBAL
0
0
0
0
0
0
0
0
0
0
5250
5243
0
0
0
0
0
0
0
5240
0
122
0
0
0
0
0
0
3505
2037
0
0
0
0
o
0
0
469
0
0
0
0
0
0
161
DIF
I 31-151
0
0
0
0
0
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-2037
0
0
0
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0
0
0
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0
0
0
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0
0
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0
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0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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Federal Reserve Bank of St. Louis
NON~EMBER BANKS
Ill
DSB
NAME
6291710
a2s1 no
6291760
8281780
8281790
8281910
6281850
6281965
6291930
82919?0
6282010
OF
SOUTH CE NTRAl BANK
SECURITY STATE BANK
s• 1TH COUl'ITY BANK
PLANTERS BANK
BANK OF MISSISSIPPI
PEOPLES SA~K AND TRUST co
FIDELITY BANK
BANK CF YI CK SBURG
FIRST STATE SANK
BAIIK OF WINONA
BANK Of YAZOO CITY
LOCATION
SILVER CREEK
STARKVILLE
TAYlORSYllLE
TUNICA
TUPELO
TUPELO
UTICA
VICKSBURG
WAYNESBORO
WINONA
YAZOO CITY
74 8Al'IKS AFFECTED IN STATE
63
8
MS
MS
MS
MS
MS
MS
MS
HS
MS
HS
HS
TDEP
121
YLTCSH
15392
56116
16991
22426
229472
U9976
31266
26789
28271
19962
29477
307
1177
341
249
6212
2582
685
467
394
514
667
131
1977
REQBAL
0
0
D
0
0
0
0
0
0
0
0
141
NEW
EPA
151
NEW
REQBAL
0
lM
D
0
3972
3819
0
0
0
0
0
161 ·
DIF
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
•
•
•
•
•
•••
•
HAYE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
---------------------------8290020
8290140
8290160
8290190
8290185
10290240
l029CHO
8290360
102<J0370
8290395
82•0400
829'408
10290437
8290450
92qo455
8290460
82'10475
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8290507
92qo509
10290517
8290580
l02'10610
10290120
8290155
8290760
82'109•0
l/17/79
BENEFIT TO BANKS COVERED BY MOOIF !ED H.R. 7
SANK OF ADVANCE
ADVANCE
UIHD Ml SSDURI 8 OF JEFFERSONARNOLO
AURORA BANK
AURORA
CITIZENS SANK
AVA
BOArnEIIS BK OF WEST CTY
BALLWIN
CITIZENS BANK
BELTON
BETHANY
BETHANY TRUST COMPANY
BANK OF
BLOOMSDALE
BLUE SPRINGS BANK
BLUE SPRINGS
CC•'IERCE BANK OF BOLIVAR
BOLIVAR
POLK COUUTY SANK
SOLi VAR
co•sERCE BANK OF BONl'IE TERREBONNE TERRE
U"IITEO MO BANK OF BOONVILLE BOONVILLE
BAN< CF BOURBON
SCURBCN
CCM ST BK OF BOWLING GREEN BOWLING GREEN
FAR•ERS MERCANTILE BANK
BOWL ING GREEN
PfOPLES BKUR CO OF BRANSON BRANSON
SECURITY BANK & TRUST co
BRANSON
BR ENhOOO BANK
BRENTWOOD
MARK TWAIN STATE BAIIK
BR I OGE TON
UT ~ISSOURI BK OF BROOKFIELDBROOKFI ELD
BUFFALO
0 BA"INON BANKING COMPANY
BUTLER
BUTLER STATE BA"IK
CAMERON
FAR•ERS STATE BANK
CAPE MERCANTILE BK & TR CO CAPE GIRAROEAU
FAR•ERS ANO MERCHANTS BANK CAPE GIRARDEAU
CARUTHERSVILLE
FIRST STATE BANK
------------MO
HD
MO
110
MO
MO
HO
MO
HO
MO
MO
110
HO
110
HO
MO
MO
MO
HO
HO
MO
MO
MO
MO
MO
MO
MO
17047
21869
21603
22595
47401
19867
22861
15190
37877
24585
26095
17006
23697
24645
23022
22829
35208
34762
41927
63607
22919
1'1336
21640
18693
24848
7244 7
30482
337
498
382
354
643
489
222
137
650
319
266
512
335
121
130
218
653
282
•57
670
348
186
2'10
287
316
1232
367
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0
0
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352
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144
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Federal Reserve Bank of St. Louis
NON•E~BER BANKS
OSB
NAHE
8200860 co••ERCE BANK OF .BARRY CTY
8290920 FIRST SECURITY STATE BANK
8290S30 CHESTERFIELD BANK
l0?.'?J940 CHILLICOTHE STATE BANK
8213988 CENTRAL BANK OF CLAYTON
82QQ9CJO CLAYTON BANK
8291010 ST LOUIS COU~TY BANK
102., 1050 FAR~EPS BANK OF CLINTON
I029IOS0 u,110~ STATE BK OF CLINTON
8201112 FIRST BANK OF CO~HERCE
8291160 SA'lK CF CRANE
8291175 BANK OF CRESTWOOD
8291180 FIR ST S!SSOURI BANK
8291200 CRYSTAL CITY STATE BANK
02q1210 PEOPLES BANK OF CUBA
8291250 ASES I CAN BANK
82Ql255
8291370
B291390
10291400
8291450
8291525
e2q1500
82qt 570
8211'59,
82Ql598
82Ql600
e2q1~4s
e2qt660
8291690
en 1140
10291770
10291850
s291qso
I02S2000
B292060
82Q2Q70
102n110
en2110
82<;J21 '30
10292250
102°2260
10292273
10292275
B292310
8292360
BENEFIT TO BANKS COVERED BY HOOi F JED H,R, 7
111
TDEP
LOCATION
CASSVILLE
CHAPLES TON
CHESTERFIELD
CH I LLICOTHE
CLAYTON
CLAYTON
CLAYTON
CLINTON
CLINTON
COLU ~BI A
CRANE
CRESTkOOD
CREVE COEUR
CRYSTAL Cl TY
CUBA
DE SOTO
COLONIAL BANK
DES PERES
CITIZENS BANK
EDINA
CITIZENS BANK
ELDON
TR I COUNTY STATE BANK
ELDORADO SPRINGS
EUREKA BANK
EUREKA
FARMINGTON
FIRST STA TE BANK
u•HD MISSOURI BK OF FERGUSONF ER GU SON
CC . . ERCE BANK OF FESTUS
FESTUS
FLAT RIVER
A•ERICAN STATE BANK
FLOR I SSA NT
CM°C BANK Of FLORISSANT
FLOR I SSANT
FLORISSANT BANK
BOAT.ENS BANK OF TANEY CTY FORSYTH
FREOER I CK TOWN
NEW ERA BANK
GAINESVILLE
BANK OF GAINESVILLE
FIRST MO eK OF FRANKLIN CTY GERALD
GLASGOW SAVINGS BANK
GLASGOW
GRA'IDVIEW BK ANO TR CO
GRANDVIEW
HANN 18Al
co••ERCE BANK OF HANNIBAL
HARRISONVILLE
ALLEN BANK ANO TRUST CO
HAZELWOOD
LINDBERGH BANK
FIRST HO BK OF GASCONADE CTYHERMANN
BANK OF HIGGINSVILLE
HIGGINS V I l l E
HOUSE SPRINGS
BANK CF HOUSE SPRINGS
BANK OF HOUSTON
HOUSTON
INDEPENDENCE
BA'lo<: OF INDEPENDENCE
I NOE PENOENCE
CHRIS.AN SAWYER BANK
NOLAND RO ME~CANTILE BANK
INDEPENDENCE
INDEPENDENCE
STANDARD STATE BANK
JACKSON
CAPE COUNTY BANK
JEFFERSON CITY
CENTRAL TRUST BANK
HO
HO
HO
HO
HO
HO
HO
HO
HO
HO
NO
HO
HO
HO
HO
HO
HO
HO
HO
HO
HO
MO
MO
HO
MO
HO
HO
HO
HO
HO
HO
HO
HO
HO
HO
HO
HO
MO
MO
HO
HO
MO
HO
HO
MO
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1/17179
121
VLTCSH
131
1'117
REQBAL
234'17
31131
32661
36849
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56
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Federal Reserve Bank of St. Louis
OSB
5zqz36q
B29237I
8292372
8202375
10292390
10292420
82'.?2440
10292448
10292453
10292456
10292457
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10292493
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10292585
10292 599
10292605
10292624
10292666
10292667
1029266 9
10202670
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8292750
8292775
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10292995
82?3010
10203020
8293110
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6293230
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IOZS 3340
NAME
JEFFERSON BANK OF MO
JEFFERSON C ITV
JEN~INGS
JEN~INGS
JOPLIN
JOPLIN
KAHOKA
KANSAS CITY
KANSAS C ITV
KANSAS CITY
KANSAS CITY
KANSAS CITY
C~NTR4l BK OF KANSAS CITY
KANSAS CITY
CCS.SERCE BK OF BLUE HILLS
KANSAS C ITV
COU~TRY CLUB BANK
KANSAS C ITV
E~PIRE BANK t TRUST CO
KANSAS C ITV
GOPPERT BANK & TRUST CO
KANSAS C ITV
GR AND AVENUE BK & TR CO
KANSAS C ITV
JACKSON COUNTY STATE BANK
KANSAS C ITV
KA~SAS CITY BK & TR CO
KANSAS C ITV
"fl ROPOll TAN BANK
PEOPLES SANK CF KANSAS CITY KANIA S CITY
KANSAS C ITV
PLAZA BANK & TRUST COMPANY
am BRIDGE MERCANTILE BANK KANSAS C ITV
KANSAS C ITV
STAOIUH BANK
UN ITEO MO SK OF SLUE VALLEY KANSAS C ITV
UNITD HO BK OF HICKMAN HILLSKANSAS CITY
UNITED MISSOURI BANK SOUTH KANSAS C ITV
KANSAS C ITV
UNIVERSITY SANK
KENNETT
BANK OF KENNETT
KENNETT
COTTON EXCHA%E BANK
KIRKSVILLE
BANK OF KIRKSVILLE
UNTO MISSOURI BK OF KIRK~OOOKIRKWOOD
BANK CF LADUE
LADUE
LAHAR
LAMAR TRUST CO
CENTRAL 8A~K
LEBANON
LEES SUMMIT
BANK CF LEES SUMMIT
LEES SUHHI T
FAR"ERS TRUST COMPANY
LEES SU"HI T
MI OLAND BA'<K
LEWISTOWN
LEWISTOWN SlATE BANK
CO"'ERCIAL BK OF LEXINGTON LEXINGTON
LOU! S !ANA
BA~K CF LOUISIANA
LOUISIANA
HERCMITILE BANK
MACON
r-ucmJ ATLA'ITA STATE BANK
HALDEN
••LOEN STATE BANK
MAPLEWOOD
PIO~EER BANK AND TRUST co
MARSHALL
woo □ AND HUS TON BANK
BAM'HSTER BANK
BOAT.SENS NORTH HILLS BANK
BLUE RIOGE BK & TR CO
111
TDEP
LOCATION
LANDMARK N CTY BK ANO TR. CO JEN~INGS
"A~K TWA IN NORTHLAND BANK
CHARTER BANK OF JENNINGS
COSSEPCE BANK OF JOPLIN
FIRST ST ATE BANK
COS,SERC E SK OF KAHOKA
ASERI CAN BANK & TRUST CO
1111/19
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NON,"EMBER BANKS
MO
MO
MO
HO
HO
HO
HO
MO
HO
HO
HO
HO
HO
HO
HO·
HO
MO
HO
140
HO
MO
HO
HO
HO
MO
MO
HO
HO
HO
MO
HO
HO
HO
HO
HO
MO
HO
HO
MO
HO
HO
HO
HO
HO
HO
HO
23984
101088
79869
50058
33627
17498
21052
43286
18628
32431
58632
23333
18237
27331
3 7590
45025
61000
27148
61048
19153
32872
78572
30976
22458
32192
36763
40215
36777
46570
23331
36641
42548
21661
19052
19804
18798
24543
28020
17944
18530
16919
21468
29173
25617
52757
45052
121
VLTCSH
131
1977
REQBAL
808
917
497
1120
448
583
176
475
392
1155
966
738
0
0
0
624
0
0
457
182
390
0
512
0
0
0
0
0
0
358
498
880
0
0
0
0
0
0
0
0
0
255
405
789
469
439
794
0
270
259
195
250
435
552
151
NEW
REQBAL
0
0
0
0
0
299
346
213
401
434
EPA
0
1801
2587
0
0
0
0
389
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657
611
386
811
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141
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0
0
0
0
0
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1176
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1700
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138
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281
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161
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131-151
0
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98
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Federal Reserve Bank of St. Louis
~O~SE~SER BANKS
oss
NAME
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
111
TDEP
t_OCATICN
8 29JJ50 CITIZENS STATE BANK
HARSHFIELD
10293310 CITIZENS STATE BANK
MARYVILLE
MARYVILLE
10293360 NODAWAY VALLEY BANK
82934'12 BK OF THE. LAKE OF THE OZARKSMILLER CCUNlV
A2'?)540 UNITED MISSOURI BK Of MONETTHONE TT
NEVADA
10293685 C!TIZENS STATE BANK
8293770 BA~K OF NEW ~ADRID
NEw MAORI 0
NORTH WOODS
e2·-ns1 s NO~MANOY BAUK
l029J830 BA'JI( OF OO~SSA
COE SSA
829)8.:.0 eriAT."1ENS B.H~K OF O FALLON
0 FALLON
8293855 CG"'l~ERC t AL BANK OF ST LCUIS OLIVETTE
OVERLAND
82S3945 CHARTER BANK OF OVERLAND
92q30!,Q CZ A~K BA."JK
OZARK
PERRY
9294040 PERRY STATE BANK
S2Q4050 BUIK OF PERRYVILLE
PERRYVILLE
82Q4070 HO"E TRUST MERCANTILE BANK PERRYVILLE
PLEASANT Hill
10294170 PLEASANT HILL BANK
POPLAR BLUFF
8294200 BANK CF PCPLAR BLUFF
82042')3 CGMSERCE BK OF POPLAR BLUFF POPLAR BLUFF
8294230 WASHINGTON CTY MERCANTILE BKPCTOSI
RAYTCWN
1029 4292 80ATMENS RAYTOWN BANK
RAYTCWN
10294295 LAU~EL BANK OF RAYTOWN
8294340 BCAT.SENS 8ANK OF PULASKI CTYRICHLANO
RICHMOND
102q4350 EXCHANGE BANK OF R ICHMONO
S29 1t358 CONT I NENT AL BANK & TRUST CO RICHMOND HGTS
ROCK PORT
I02943.SO BANK OF ATCHISON COUNTY
10294390 CITIZENS BANK OF ATCHISON COROCK PORT
ROLLA
82'14405 FIRST STATE BANK
82Qt.410 ROLlA ST ATE BANK
ROLLA
ST ANN
8294455 BArlK OF ST ANN
8294456 LANDMARK NORTHaEST PLAZA BK ST ANN
8294472 MRCNTL BK OF ST CHARLES CTY ST CHARLES
8294540 ST JOHNS BANK ANO TRUST co ST JOHNS
10294560 DROVERS MERCANTILE BANK
ST JOSEPH
ST JOSEPH
10294580 FARMERS STATE BANK
10294595 FIRST STOCK YARDS BANK
ST JOSEPH
10294630 U'.11 TEO HO BANK OF ST JOSEPH ST JOSEPH
ST LOUIS
8294660 BADEN BANK OF ST LOUIS
8294665 BANK OF ST LOUIS
ST LOU! S
ST LOUIS
B294690 9RESEN BANK ANO TRUST CO
ezq46qo CASS BANS, AND T~UST COMPANY ST LOU! S
ST LOUIS
8294700 CHIPPEWA TRUST COMPANY
ST LOU! S
8294705 CITY BANK
8294706 COMMERCE BK OF MOUND CITV
ST LOUIS
ST LOUIS
8294735 HA~PT0~4 BANI<. OF ST LOUIS
ST LOU! S
B294750 JEFFERSON BK t TR CO
HO
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HO
HO
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HO
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MO
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HO
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HO
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HO
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HO
HO
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HO
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HO
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HO
HO
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2243B
44395
60073
32320
25714
27357
20319
22627
31776
21%6
26042
34905
20375
13350
27046
2-1301
20159
36246
38617
20244
53229
31104
16115
31078
54649
I7B08
15627
22806
26166
29148
46426
22B88
78458
16025
15539
25515
52136
55420
193846
30424
71260
45945
44915
44348
105546
95851
121
VlTCSH
185
304
406
257
349
237
245
410
154
622
537
707
304
91
331
224
170
474
429
443
642
874
141
366
462
13B
IOI
4 79
254
642
692
678
1644
189
207
270
945
1296
2348
364
510
748
1129
841
17B9
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13 I
1W7
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0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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0
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0
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0
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435
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103
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0
0
0
0
0
0
0
0
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121
0
762
0
0
0
1156
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0
0
0
0
0
0
0
0
0
89
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0
0
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0
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0
0
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0
0
0
0
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151
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161
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0
0
0
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0
0
0
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0
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0
0
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131
1977
REQBAl
0
8294760 JEFF GRAVOIS BK OF ST LOUIS ST LOUIS
8294810 MERCANTILE CMRC TRUST co
ST LOUIS
82Cl482 5 MISSOURI STATE BANK & TR CO ST LOUIS
8294850 NORTH ST LOUIS TR CO
ST LGUIS
82CJ4'370 NORTHWESTERN BANK ANO TRUST ST LOUIS
82 9491 0 SOUTHEP.N COH~ERCIAl BANK
ST LOUIS
ez94q 1n BOA rnENS BK GF CONCORD VlG ST LOUIS COUNTY
8294955 LEWIS & CLARK MERCANTILE BK ST LOUIS COUNTY
82':?4956 Pl Al A BANK OF W~S T PORT
ST LOUIS CTY
02c;4q59 HARK TWAIN SOUTH COUNTY BANK ST LOUIS CCUNTY
8294959 MARK TWAIN PARKWAY BANK
ST LOU! S COUNTY
102qstno SALISBURY SAVINGS BANK
SALISBURY
SAVANNAH
10295050 HO"'.E BANK
102~5068 MISSOURI STATE BANK
SEDALIA
8295140 SHELBINA MERCANTILE BANK
SHEL RINA
8295180 BANK CF SIKESTON
SIKESTON
e2c;s2ea SANK CF SPRINGFIELD
SPRINGFIELD
8295290 COS~ERCE BANK OF SPR INGF I ELOSPR INGF I HD
82C}52,95 P1PIRE BANK
SPR INGF IHO
8295360 CC'M'4UNltY BANK
STEELVILLE
8295430 BAN~ OF SULLIVAN
SULLIVAN
THAYER
82~5480 BANK OF THAYER
10295510 TRENTON TRUST COMPANY
TRENTON
TROY
8795520 B □ Al'ENS BANK OF TROY
8 29 5540 UN I TEO BANK OF UNION
UNION
8295%5 CITIZENS BANK
UNIVERSITY CITY
82QS570 co•<ERCE BANK OF UNIV CITY UNIVERSITY CITY
URBANA
S?. 0 5580 BANK OF URBANA
WARRENSBURG
10295660 CI Tl 1 ENS BANK
WARSAW
10295690 CCSSUN !TY BK OF WARSAW
829511 0 BANK CF WASHINGTON
WASHINGTON
8295755 BIG BENO BANK
WEBSTER GROVES
WEBSTER GROVES
82C?S7b0 WEB STER GROVERS TR CO
8295790 lMIO,~~RK CENTRAL BK G TR CO WELLSTON
WENTZ VI llE
8295810 WENTZVILLE STATE BANK
e2qse40 WEST PLAINS BANK
WEST PLAINS
OF
201 SANKS AFFECTED IN STATE
----------------------9300015 FIRST SECURITY BANK
9300040 BANK OF BAKER
143
52
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HO
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31231
45375
85724
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23075
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20267
50729
30458
162047
95891
16155
21794
22419
28176
21206
33568
35497
57486
15779
302B 1
19094
46473
42652
58470
96500
20782
24891
807
660
277
356
750
718
1155
795
546
755
325
148
152
251
167
884
811
2589
l076
111
404
281
284
273
380
657
1021
88
642
145
599
758
118
851
279
210
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
151
NEW
REQBAl
265
1762
0
0
0
141
0
0
185.
2329
0
0
0
0
0
181
0
4146
1977
0
0
0
0
0
I
0
450
0
0
0
144
0
1522
2576
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
161
DJF
131-151
0
0
0
0
0
0
0
0
0
0
0
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0
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HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
----------------------------------------------------------------------------------ANACONDA
BAKER
MT
MT
14507
17459
300
93
0
0
0
0
0
0
0
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Federal Reserve Bank of St. Louis
l\lON~EMBE R BANKS
DSB
BENEFIT TO BANKS COVERED BY IIOOIF IEO H.R. 1
NAHE
93CO~S3
9300115
9300260
'1300280
930J300
9300340
9300190
9300400
9300520
9300540
9300543
9300665
9300690
9300760
9300810
9300915
9300925
OF
111
TDEP
LOCATION
FIRST CITIZENS BANK
BILLINGS
VALLEY STATE BAN~
BILLINGS
BANK CF COLUMBIA FALLS
COLUMBIA FALLS
FAR~~RS STATE BANK
CONRAD
BANK OF GLACIER COUNTY
CUT BANK
ST ATE BANK t TRUST CO
DILLON
FIRST STATE BANK
FORSYTH
FIRST STATE BK OF FT BENTCN FORT BENTON
CITIZE~S STATE BANK
HA~IL TON
HARDIN
BIG HCRN BANK
LITTLE HOR~ STATE BANK
HARDIN
VALLEY BANK OF KALI SPELL
KALI SPELL
NW BANK OF LEWISTOWN
LEWISTOWN
1ST SC BK t TR OF MILES CITYHILES CITY
SECURITY STATE BANK
PLENTYWOOD
FIRST STATE BANK
SltELBY
TOOLE COUNTY STATE BANK
SHELBY
19 BANKS AFFECTED IN STATE
13
6
MT
HT
MT
MT
MT
MT
MT
MT
MT
MT
HT
HT
MT
HT
HT.
MT
MT
24579
26526
19368
30499
22028
21168
22970
24180
22514
29320
15336
25637
35852
45650
23061
25879
16724
1117/19
121
VL TCSH
131
1977
REOBAL
217
252
244
206
0
0
0
0
135
0
178
130
123
293
190
140
223
262
236
182
208
82
0
0
0
0
0
0
0
141
NEW
EPA
151
NEIi
REQBAl
0
0
0
85
0
0
61
1
0
85
0
0
166
0
0
0
0
0
0
0
0
0
0
0
0
D
0
0
430
0
0
0
0
0
0
0
0
0
0
161
DI F
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
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0
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.••
•
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•••
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HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE ND REQUREO RESERVE BALANCE
Is
------------------------------------10310090
10310210
10310230
10310395
10310440
10310550
10310640
10310750
10310875
10310980
10310910
1011ono
10310950
10310960
10111310
10311360
10311398
10311450
10311500
10311510
10311520
GUARDIA" STATE BK t TR CD
AUBURN STATE BANK
FARMERS STATE BK & TR CO
BA~K OF BELLEVUE
WA SH I NG TON COUNTY BANK
NEBRASKA STATE BANK t TR CD
STATE BANK CF CAIRO
BUIK OF CHAORON
Cl71ZENS BANK AND TRUST CO
COLU•BUS BANK & TRUST CO
([llAO STATE BANK t TRUST CD
FIRST BAtlK t TRUST COMPANY
CITIBAN~ t TR CO OF CRETE
CRETE STATE BANK
FAl~euqy STATE BANK
RICHARDSON CTY BK t TR CO
FIRST STATE BANK
GENEVA STATE BA~K
GORDON STATE BANK
FIRST STATE BANK
GOTHENBURG STATE BK & TR CO
ALLIANCE
AUBURN
AURORA
BELLEVUE
BLAIR
BROKEN BOIi
CAIRO
CHADRON
CDlU~BUS
COLUMBUS
COZAD
COZAD
CRETE
CRETE
FAIRBURY
FAUS CITY
FRE~ONT
GENEVA
GORDON
GOTHENBURG
GOTHENBURG
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
45801
15200
25"895
26935
33900
26677
14663
20384
23220
19137
15265
17985
16603
17511
15464
27923
15922
30532
13640
18898
21188
342
113
196
592
246
199
0
0
0
23
106
269
258
132
152
111
301
113
258
285
150
82
124
82
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
509
0
20
0
104
0
5
·20
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
D
0
0
0
49
0
0
0
0
0
0
0
180
0
0
0
0
0
0
48
0
0
0
0
0
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0
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0
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•
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Federal Reserve Bank of St. Louis
Ill
DSB
NAME
10311695
10311815
10311980
10312080
10312,90
10312135
10312140
10312145
10312160
10312440
IOJl2655
10312712
10,12713
10312714
10312718
10312720
10~12735
10312745
10312750
10312765
10312785
10312840
la31Z940
10313020
I03Dl45
10~13160
la JI 3290
l031Hl0
10313345
10313430
10314160
OF
lOCATION
HASTINGS STATE BANK
FIRST SEC BK OF HOlOREGE
PLATTE VAllEY ST BK t TR CO
FAR•ERS STlTE BANK t TR CO
l~XINGTON ST BK t TR CO
GATEWAY BANK t TRUST CO
>UVELOCK BANK
LI NCCLN BANK SOUTH INC
UN ION BANK ANO TRUST CO
:HNOEN EXCH BK t TR CO
NORTH PLATTE STATE BANK
KEITH COUNTY BANK t TR CO
A~ES eANK
BANK CF HILLARD
CENTER BANK
DOUGLAS CTY BK t TR CO
FIRST WEST SIDE BANK
HID CITY BANK INC
N~RTH SI OE BANK
OMAHA STATE BANK
SOUTHWEST BANK
NEBRASKA STATE BANK
BANK OF PAP l l l l ON
CONES STATE BANK
RALSTON BA,~K
RAVENNA BANK
S~HUYLER STATE BANK
FIRST ST ATE BANK
seq IBNER BANK
NE BOS KA STATE BANK
YORK STATE BANK t TRUST
co
DllAHA
OMAHA
OMAHA
C•AHA
o.,AHA
OMAHA
OMAHA
OMAHA
ORD
PAPILLION
PIERCE
RALSTON
RAVENNA
SCHUYLER
SCOTTSBLUFF
SCRIBNER
SOUTH SIOUX CITY
YORK
33
19
3 BANKS AFFECTED IN STATE
------- ------
18709
16120
r,5739
18250
22443
42760
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
NE
HOH
16056
36329
2"703
20982
20725
2"406
30309
61926
0776
55237
17198
'tl668
18009
57268
14733
18443
14892
26313
17103
207?2
19301
15333
20737
28256
0
2
121
VlTCSH
l6't
213
312
192
297
563
369
172
313
12"
197
183
737
262
949
297
730
151
850
323
6't9
97
319
50
462
218
108
181
94
259
216
f 31
1977
u1·
NEW
REQBAl
EPA
0
0
0
0
438
0
0
0
0
0
168
Q
0
0
0
0
't30
0
74
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Q
0
0
0
0
0
0
0
0
0
151
NEW
REQBAl
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
75't
703
7't8
0
25
0
855
0
0
0
0
0
6
0
0
0
45
161·
DIF
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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•
•
HAVE NO EARNINGS _PARTICIPATION ACCOUNT DR REQUIRED RESERVE BALANCE
HAY£ NO REQUREO RESERVE BAlANCE
---------------
LAS VEGAS
US VEGAS
REND
.
NE
O~AH4
52 BANKS AFFECTED IN STATE
12320040 BANK OF NEVADA
12320045 NEVADA STATE BANK
12320078 PIONEER CITIZENS BANK
TDEP
HASTINGS
HOLDREGE
KEARNEY
LEXINGTON
lEXINGTON
LINCOLN
LINCOLN
LINCCLN
LINCOLN
MINDEN
NORTH PLATTE
OGALLALA
--------------------OF
1/17/79
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
NONMEMeER BANKS
-------237271
111911
69998
NV
NV
NV
5472
1484
1005
0
0
0
5172
29't9
1638
't04
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REOUIRED RESERVE BALANCE
HAVE NO REOURED RESERVE B4LANCE
-------------------
0
0
-40't
0
0
•
t,:)
g:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NONMEMBER BANKS
oss
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 1
NAHE
111
TOEP
LOCATION
I/ 17/79
121
VLTCSH
131
1971
REQBAL
BERLIN CITY BANK
BERLIN
NORTH CCUNTRY BANK
BERL IN
CONNECTICUT RIVER BANK
CHARLESTCWN
FIRST COLEBROOK BANK
COLEBROOK
1330215 DERRY BANK ANO TRUST CO
DERRY
1330290 EXETER BANK I NG COMPANY
EXETER
JAFFREY
l3304I5 MCNA.ONOCK !3ANK
1330530 SI WQOGANOCK GUARANTY SYG BK LANCASTER
1330650 MA\ICHESTER BANK
MANCHESTER
1330720 NASHUA TRUST COMPANY
NASHUA
1330735 NEW LONDGN TRUST COMPANY
NEW LONDON
NORTH CONWAY
l 3~0790 NORTH CONWAY BANK
1330796 PELHAM BANK & TRUST CO
PELHAM
PLYMOUTH
l330HO PLY~OUTH GUARANTY SVGS BK
PGRTSMOUTH
1330900 PORTSMOUTH TRUST CO~PANY
1330920 ROCHESTER SAVINGS BK & TR CORCCHESTER
1330924 ROCKINGHAM CGUNTY TRUST CO
SHEM
1330990 SUNCOOK BANK
SUNCOOK
WOLFEBORO
1331045 KINGSWOOD BANK ANO TRUST
1331060 WOOOSVILLE GUARANTY SYNGS 8KWOOOSVILLE
1330010
1330020
13300~0
133012 0
OF
20 BANKS AFFECTEO IN STATE
11
7
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
NH
INDEPENDENCE BANK OF NJ
GUA~ANTEE BANK
BERGEN STATE 8A'IK
so•E• SET TRUST CO
U"ITEO JERSEY 8K/S BERGEN
CARTERET BANK AflO TRUST CO
PILGRIM STATE BANK
CHATHAM TRUST COMPANY
PEOPLES 8MIK OF S JERSEY
COMSERCE BANK OF NEW JE~SEY
FAI~ LAWN STATE BANK
STATE BANK OF NEW JERSEY
FRA~KLIN STATE BANK
CENT~AL JERSEY BK ANO TR co
GARFIELD TRUST CCMPANY
GARDEN ST BK OF OCEAN CTY
KENILWORTH STATE BANK
CITIZENS STATE BANK OF NJ
468
19280
14096
21885
19930
49021
29172
17862
139034
97132
16533
21193
18027
42909
40028
85072
19573
37331
14137
19291
243
252
268
495
1131
239
72
1403
1419
203
274
273
57
87
200
253
710
192
75
0
0
0
0
o
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
151
NEW
REQBAL
119
0
0
0
0
0
109
80
2835
1621
0
0
0
734
624
1249
0
0
0
117
0
0
0
0
0
0
0
0
564
0
0
0
0
0
0
559
0
0
0
0
(61
OIF
131-151
0
0
0
0
0
0
0
0
-564
0
0
0
0
0
0
-559
0
0
0
0
••
•
•
•
•
..
.••
.•
..
•
•
HAYE NO EARNINGS PARTICIPATION ACCOUNT OR REQUl RED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
--------------------------------------------------2340030
3340100
2340205
2340435
2300555
2340560
2340570
2340590
3340615
3340970
2340935
2341055
2341064
2341068
2341120
3341445
2341615
3341625
39685
141
l<EW
EPA
ALLENDALE
ATLANTIC CITY
BERGENF 1 ELO
SRI OGEWATER TWP
CARLSTADT
CARTERET
CEDAR GROVE
CHAT~AH TOWNSHIP
CLAYTON
EVESHAM TWP
FA IR LAWN
FORT LEE
FHNKLIN ThP
FREEHOLD TWP
GARF !ELD
JACKSON TWP
KENILWORTH
LACEY TCWNSHIP
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
-----------------------------------------------13699
232093
89854
141553
28498
37074
18606
77505
28625
33864
26983
53407
35194 T
488650
41371
21983
30102
63257
l89
6257
1083
2119
557
1017
531
671
698
671
263
659
5397
10971
60T
373
360
758
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3489
1H8
'3384
0
0
0
1266
0
0
0
276
5184
5092
0
0
0
568
0
0
0
0
0
0
0
0
0
0
0
0
5157
5194
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-5157
-5194
0
0
0
0
•
.••
.••
.•
.
NI
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NO~~E~BER BANKS
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NAME
Dse
2341695 COH.~UNITY STATE BK G TR
3341698 MAINLAND BANK
LOCATION
co
LINDEN
LINWOOD
LIVINGSTON
2341135 JERSEY SHO~E BANK
lGNG BRANCH
2341905 BRUNSWICK BANK AND TR CO
MANALAPAN TWP
2341890 CO~MONSEALTH BK OF METUCHEN METUCHEN
MONTVALE
23 1tl935 UN I TEO JERSEY BANK/NORTH
MOORF.STOWN
3'.VtZOQO BURLINGTON CTY TRUST CO
MC•R IS TGWNSHIP
2342045 FIRST MORRIS BANK
3342')&5 FEllOWS>HP BAN~
MOUNT LAUREL TWP
NEWTON
2~42320 NEh'TON TRUST CO"!PANY
NORTH BRUNSWICK
23'42365 MID3LESEX CCCNTY BANK
2342370 NORTH Pl AINF I ELO STATE BANK N PlAINflElO
OCEAN CITY
3342412 COAST Al STATE BANK
PAR.l.MUS
.2342482 SEP.GEN BANI{ CF CCMMERCE
PARll"1US
23424~5 Mt Ol ANO BANK & TRUST CO
2342497 UNITED JERSEY BA~K/PAR-TROY PAR TROY HlS TWP
PATERSON
2342530 BROADWAY BK & TR CO
PATERSON
2342570 FRAl'-lKL IN BANK
PENNSAUKEN TWP
3342.668 FIDELITY BK & TR CO OF N J
PR I NC ETON
3342e10 PR I ~C ETON BANK G TRUST
RARITAN TWP
2 .?42(} 3 6 TOWN & COUNTRY BANK
ROXBURY TWP
2343065 ROXBURY STATE BANK
SADDLE BROOK
2343083 INTERCHANGE STATE BANK
SHREWSBURY
2343130 SHREWSBURY STATE BANK
SOUTH AMBOY
2343160 SOUTH AMBOY TRUST COMPANY
SOUTH ORANGE
2343185 VILLAGE BANK CF NEW JERSEY
SPR INGFIElD
2343230 1NTER-C0~:-1UN1TY SANK
SUMMIT
2343280 SUS~I T & Ell ZABETH TR CO
TEANECK nP
2343304 H0'4E STATE BANK
TRENTON
3143342 CAPITOL STATE BANK
UNION CITY
2343450 Huosc•, UNITED BANK
WAll TOWNSHIP
2343516 ALLAIRE STATE BANK
WAYNE TWP
2343533 RAMAPO BANK
W OE PT FORD TWP
3)43545 LEN.\PE STATE BANK
WEST MILFORD TWP
2343567 LAKELAND STATE BANK
W WINDSOR TWP
3343595 WEST WINDSOR STATE BANK
:?341122 LIV ING ST ON STATE BANK
co
OF
55 BANKS AFFECTED IN STATE
33
19
111
TDEP
(21
Yl TCSH
126012
33474
19139
33374
34098
31473
61649
166943
29461
18450
54836
25528
33061
53486
35947
91780
27512
109742
78835
91665
120805
38611
24659
51896
25346
19516
36512
15125
298944
20445
27419
186308
23994
60129
37132
24689
15738
1842
831
254
822
637
725
1563
2610
476
194
724
639
596
909
482
975
839
1421
910
1239
1617
330
470
1527
422
401
472
193
4868
173
481
4499
373
989
882
650
120
l 31
1977
REQBAl
0
0
0
0
D
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(41
NEW
EPA
3287
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
D
0
0
0
3H2
0
0
274
0
0
245
0
1780
0
2233
1330
2053
2909
121
0
0
0
0
29
0
5111
0
0
0
0
2662
0
723
0
0
0
0
.o
l 51
NEW
REQBAl
(61
OIF
(31-( 51
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3899
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-3899
0
0
0
0
0
0
0
0
..•
•
.
..
.
~
.•
.••
.•
..••
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAYE NO REQURED RESERVE BALANCE
-------------------------------------------------------------
------------------------llHOOIO SECURITY BANK & TRUST
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ.
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
1/17/79
AlAMCGORDO
NH
39305
510
0
10
0
0
•
01
01
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NCN•EHSER BANKS
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
Nl~E
058
LOCATION
1035002 5 BAN~ OF NEW HEX ICD
ALBUCUEAQUE
ALBUQUERQUE
ALSUCUERQUE
ALBUQUERQUE
W~STERN 8A"1K
ALBUQUERQUE
PE3•LES STATE BANK
ARTESIA
cc••ERCE BANK ANO TRUST
CARLSBAD
FAR•Eqs & STGCKHENS
CLAYTON
CITIZE~S SANK OF CLOVIS
CLOVIS
FARMINGTON
CITIZENS BANK
FIRST STATE BANK
GALLUP
~ERCHANTS BANK
GALLUP
GqA,.TS STATE BANK
GRANTS
NEW MEXICO BK & TA CO
HC8BS
CITIZENS SANK OF LAS CRUCES LAS CRUCES
FAR SEAS ANO MERCHANTS BANK LAS CRUCES
BANK Qf LAS VEGAS
LAS VEGAS
FIRST STATE BAN~
RIO RANCHO
RUIDOSO STATE BANK
RUIDOSO
ROSWELL STATE BANK
ROSWELL
BANK OF SANT A FE
SANTA FE
CAPITAL BANK
SANTA FE
CITIZENS STATE BANK
SPR INGEA
CITIZENS STATE BANK
VAUGHN
1035002 8 CITIZENS BANK
10350032
10350033
10350035
11350055
1135)095
10350100
11350110
10350145
1035DI60
1035DI70
10350175
11350200
11350205
l I15JZI 5
ID350213
10350325
11150312
11350335
10 350337
10350339
10150370
11350400
OF
RIO GRANDE VAllEY BANK
REPUBLIC BANK
25 BANKS AFFECTED IN STATE
14
10
NH
NH
NH
NH
N'4
NH
N'4
N~
N'4
NH
N'4
NH
N'4
N>I
NH
NH
N'4
NH
NH
NH
NH
NH
NM
NH
1/11/79
111
TOEP
121
YL lCSH
197224
40572
41986
31217
24509
19278
26605
2'346
66853
56319
49647
36847
27683
97239
26638
52061
35246
23315
26028
58020
4400D
27677
17251
18347
I9H
554
369
558
359
216
282
184
563
1416
1333
756
549
1117
363
990
635
616
394
767
433
360
394
190
131
1911
REC BAL
D
0
0
0
D
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
UI
NEW
EPI
151
NEW
AEQ81L
5180
7
160
0
0
0
0
12
1153
459
0
0
0
2528
0
508
0
0
0
702
142
0
0
0
1148
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
161
Olf
I 31-151
-1148
0
D
0
0
0
0
0
0
0
0
0
0
0
0
0
D
0
0
0
0
0
0
0
.•
.••
..•
•
•
•
•
•
•
•
•
•
HAVE NO EARNINGS. PARTIC !PAT ION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO AEQUREO RESERVE BALANCE
--------------2360040
2360075
2360410
23605JO
2360718
2360975
2361520
236l'HO
23627q5
2362850
2363320
2363390
2363850
2363870
BANK Of AKRON
COMMUNITY STATE BANK
CITIZENS BANK
BANK GF BABYLON
BAflKEAS TRUST OF BINGHAMTON
CErHRAL STATE BANK
BMIK OF CASTILE
FIRST BK & TR CO Of CORNING
CONTINENTAL SANK
NASSAU TRUST CO
CHE'41CAL BANK OF ROCHESTER
STEUBEN TRUST COMPANY
BANK OF LAKE PLACID
'IFG HANOVER TR CO/CPTl REG
AKRON
ALBANY
ATTICA
BABYLON
BINGHA'4TON
BROOKLYN
CASTILE
CORNING
GARDEN C ITV
GLEN COVE
HILTON
HORNELL
LAKE PLACID
LATHAM
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
19390
67721
18403
77917
32349
56235
27407
49505
23213
154976
26631
38489
27583
86934
312
1060
494
1572
1268
755
379
1538
148
3'74
324
682
895
1296
0
0
0
0
0
0
0
D
0
0
0
D
0
0
0
614
0
729
0
1029
0
0
0
3297
0
0
0
1577
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
•
•
•
•
•
.
•
•
•
•
~
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Ill
DSB
NAME
TOEP
LOCATION
2363Bqo BANK OF LE ROY
2363950 HER<IHER COUNTY TRUST CO
21~4310 NORTH FORK BK t TR CO
2364643 UNION STATE BANK
2364755 STATE BANK OF L I
2364820 '"ALGAMATED BK OF NEW YORK
2364838 ATLANTIC BANK OF NEW YO~K
2?!:.4943 BANCO DE BOGOTA TRUST CO
2364858 BA~K LEU~! TRUST CO OF NY
23648ft] BANK CF CCSMERCE
2364893 B~NK OF TOKYO TRUST CO
2364945 CANADIAN BANK OF CMRC TR
23649:37 CHINESE AMEPICAN BANK
2365053 DAIWA B4NK TRUST CO~PANY
2365130 F IOUC IARY TRUST COMPANY
2365168 FUJI BAN< t TRUST COMPANY
2365235 INO BANK OF JAPAN TR CO
23f>5::!44 ISRAEL DISCOUNT TRUST CO
2365418 ROYAL BANK t TRUST CO
n65515 UNITED AMERICAS BANK
2366050 PAVILICN STATE BANK
2367635 BANK OF UTICA
2367790 WYO~ING COUNTY SANK
2367970 FIRST TRUST UNION BANK
OF
LE ROY
LITTLE FALLS
HATTITUCK
NANUET
NEW HYDE PARK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
PAVILION
UTICA
WARSAW
WELLSVILLE
38 SANKS AFFECTED IN STATE
15
15
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
33042
40066
73340
21334
34343
3Hl62
3oa968
29763
655323
238860
1481432
18662
45320
84329
54450
198931
145169
15547
181565
507H
14587
49757
42294
140906
121
VL TCSH
742
984
1308
191
303
13B6
693
15
2267
3203
581
4
297
48
39
38
10
10
167
12H
331
337
731
2413
131
1977
REQBAL
D
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
151
NEW
REQBAL
0
0
1176
0
135
5199
5159
959
5303
5128
5349
92
452
1457
3167
2491
1482
0
0
0
0
0
l03B7
3217
0
189H
5606
51611
0
0
0
0
3019
2355
0
2573
0
0
0
0
0
IH
5205
0
0
459
0
2354
co
co
0
0
0
D
0
-10387
-3217
0
-18944
-5606
-51611
0
0
0
0
-3019
-2355
0
-2573
0
0
0
0
0
••
.••
.
..••
•
•
•
•
•
--------------
---------------------
BANK CF ASHEVILLE
we STERN CAROLINA BK & TR tO
BANK OF BELMONT
PEOPLES BANK
REPUBLIC BANK & TRUST co
Pl EDMONT BANK & TRUST
CENTRAL CAROLINA BK & TR CO
MECHANICS ANO FARMERS 8ANK
YADKIN VALLEY BK t TR
EAST CAROLINA BANK
CAPE FEAR BANK & TRUST CD
F IOEL ITV BANK
CAROLINA STATE BANK
TARHEEL BANK t TRUST CO
161
OIF
131-151
HAVE NO EARNINGS PARTICIPATION. ACCOUNJ OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
------------------5370065
5370070
5370130
5370270
5370358
5370460
5370435
5370550
5370125
5370640
5370678
5170720
5370728
5370750
1/17/79
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NON~EHBER BANKS
ASHEVILLE
ASHE VI llE
BELMONT
CATAWBA
CHARLOTTE
DAVIDSON
DURHAM
DURHAM
ELK IN
ENGELHARD
FAYETTEVILLE
FUQUAY-VARINA
GASTONIA
GATESVILLE
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
Nt
NC
77H6
21078
33876
29008
28898
54481
365655
38177
13668
44034
33039
72217
18761
28859
1727
0
H7
0
0
0
603
HS
360
1454
11510
946
319
1165
1267
1712
138
558
0
0
0
0
0
0
0
0
0
0
712
0
0
0
0
0
5163
0
0
0
0
390
0
0
0
0
0
0
0
0
423
0
0
0
0
0
0
0
0
0
0
0
0
0
-423
0
0
0
0
0
0
0
•
•
•
•
•
•
•
••
•
•
.
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NON~EHBER BANKS
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
Ill
,sB
NAME
5370810
5370820
5370855
5370857
5370Q90
5371155
5371180
LOCATION
BA'IK OF GRANITE
FARMERS AND MERCHANTS BANK
CCH•UNITY BANK OF CAROLINA
GATEWAY BA'IK
HIGH POINT BK£ TR CO
LEXINGT0:11 STATE BANK
TDEP
GRANITE FALLS
GRAN JTE ~UARRY
GREENSBORO
GREENSBORO
HIGH POINT
LEX INGTDN
HERITAGE BANK
LUCA HA
5371225 PfOPLES BA'IK OF N C
HAOI SON
5371330 AMERICAN BANK AND TRUST CO MONROE
5371410 SOUTHERN BANK & TRUST CO
MOUNT OLIVE
5371420 BANK OF CURRITUCK
MOYOCK
537)480 NORTHWESTERN BANK
NORTH WILKESBORO
5371520 BA'IK CF PILOT MOUNTAIN
PILCT MCUNTAIN
PILCT MOUNTAIN
5371530 FAq~ERS BA'IK
5371584 FIRST-CITIZENS BK & TR co
RALEIGH
RALEIGH
5371585 ST ATE BANK OF RALEIGH
5371690 RI CH,•OND CO BANK
ROCK INGHAM
ROCKY MOUNT
5371720 PEOPLES BA'IK AND TRUST co
5371770 co••ERCIAl ANO FARMERS BANK RURAL HALL
537le~o SECURITY BK & TR CD
SALi SBURY
5371'805 CAROLINA BANK
SANFORD
5371940 FAR•ERS BA:IIK
SUNBURY
TARBORO
5371970 EOGECO•BE BANK £ TRUST co
5371<>90 BANK CF MONTGOMERY
TROY
5372111 WACCAMAW BANK ANO TRUST CD WHITEVILLE
5372150 BPANCH BANKING AND TRUST CO WILSON
5372225 FORSYTH BANK & TRUST CO
WINSTON-SALEM
5372240 FIRST STATE BANK
WINTERVILLE
OF
42 BANKS AFFECTED IN STATE
28
9
NC
NC
'IC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
44980
2710D
23215
19594
92954
74475
19202
25096
200220
62707
15785
1171996
19100
15103
1072118
29150
28485
264409
19100
127681
123774
26349
51839
19872
263481
455599
45454
25906
1/17179
121
VLTCSH
1110
598
355
374
488
1277
463
645
3175
1874
359
32181
284
225
25107
372
932
'1165
5'11
4444
2505
57D
1387
581
HlO
12115
338
659
131
l'177
REQBAL
0
0
D
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
141
~fW
EPA
151
NfW
REQBAL
0
0
0
0
2754
161
DIF
131-151
0
0
0
0
0
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0
0
0
4997
0
0
0
5226
0
0
5161
0
0
0
0
17756
0
0
20310
0
0
0
0
0
0
0
0
0
2364
D
0
0
0
0
0
0
0
0
0
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-17756
0
0
-20310
0
0
0
0
0
0
0
0
0
-2364
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-5668
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
645
0
2585
0
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0
0
0
5195
5136
652
0
.•
•
•
••
••
•
•
•
••
•
•
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE 8ALANCE
-----------9380030
9H0040
9380070
93~0115
9380170
93801BO
91~0200
9330210
9380240
93~0470
MC INTO SH COUNTY BANK
FAR •ERS ANO MERCHANTS BANI(
BANK OF BEULAH
ST 9K OF BURLEIGH CTY TR CD
FIRST STATE BANK OF CANDO
FOSTER COU~TY BANK£ TR CO
CASSEL TON STATE BANK
Fl~ST STATE BANK
FARMERS ST BK OF CROSBY
SARGENT COUNTY BANK
ASHLEY
BEACH
BEULAH
BISMARCK
CANDO
CARRINGTON
CASSEL TON
CASSEL TON
CROSBY
FORMAN
NO
ND
ND
NO
NO
ND
NO
NO
N3
NO
17863
17350
16086
34398
20676
27024
15083
13979
19472
16559
86
74
118
305
165
160
45
72
86
58
0
0
0
11
0
0
0
94
0
0
0
0
80
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
.••
••
..••
••
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NO•l•EMBER BANKS
BENEFIT TO BANKS COVERED BY HOOIFIEO H.R. 7
Ill
osB
NAME
9380490
q3eos,o
93B0610
93?0&50
9380-!,QQ
9330740
93qo1eo
9380900
9380360
93,0915
9380930
939097 0
93 eoq9 5
9331090
q31? l lJO
93S IZZO
9381230
9381240
9381300
9381310
9391457
93814 70
IJF
GARR I SON STATE BANK
WALSH COUNTY BANK £ TR CD
FIRST STATE BANK
UNIO'I STATE BANK
NQRTHWESTERN STATE BANK
ST ATE BANK OF KENMARE
ST ATE BANI( OF LAKOTA
FIRST SANK OF LANGDON
FARMERS STATE BANK
MAtlOAN SE CUR ITV BANK.
GCOSE RIVER BANK
A,ME• !CAN BANK ANO TRUST CO
FIRST WESTERN SB OF MINOT
SECURITY ST BK OF NEW SALEM
,mRTHwOOO STATE BANK
FIRST BANK OF ROLLA
CITIZENS STATE BANK
l'"'ERCHA~TS BANK
SCASOIA AMERICAN BANK
BANK OF STEELE
WEST FARGO STATE BANK
AMERICAN STATE BANK
LOUT ION
TOEP
GARRISON
GRAFTON
HARVEY
HAlEN
HILLSBORO
KENMARE
LAKOTA
LAt:GOON
LISBON
MANDAN
MAYVILLE
MI,mT
MINOT
NEll SALEM
NQRTHWOOO
ROLLA
RUGBY
RUGBY
STA>ILEY
STEELE
WEST FARGO
WILLISTON
32 BANKS AFFECTED IN STATE
2]
9
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
17503
41375
11704
18117
20298
15838
14959
24399
24320
17640
16960
59941
30078
14958
16475
22601
19418
26030
15668
15118
17979
51336
1117/79
121
VL TCSH
82
344
93
142
125
57
54
149
171
168
170
334
295
163
99
429
108
210
64
69
121
185
141
131
1917
NEW
REQBAL
EPA
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
151
NEW
REQBAL
161 ·
OIF
131-151
0
0
0
246
0
0
0
0
0
0
0
0
0
0
0
0
6
0
0
0
27
0
0
0
0
0
0
1065
0
0
0
0
0
0
0
0
0
29
0
0
0
0
0
0
0
0
"34
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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.••
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HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
------------------------------------------AKRON
4390036 CENTRAN BANK OF AKRON
AKRON
4390050 FIRES TONE BANK
AKRON
4390080 GOOD YE AR BANK
ARCHBOLD
4390240 FARSERS t MERCHANTS ST BK
4390293 HU'ITINGTON BK OF ASHLAND
ASHLAND
ASHTABULA
4390310 co"~ERCI AL BMIK
43903B5 HOCKING VALLEY BK OF ATHENS ATHENS
ATHENS
43qo390 SEC~• I TY BANK
ATTICA
4JCl04fJ0 SUTTON STATE BANK
BELLEFONTAINE
4390535 LOGl~ COUNTY BAl'jK
BEVERLY
439C630 CITIZENS BAN~ CO
4)C03'.)0 euc YRUS CI TV BANK
euc YRUS
4l"?0810 FA•~ERS AND "ERCHANTS BANK CALOWELL
CAREY
4391050 PEO•LES BANK
CARROLL TON
43()1010 CU~IJIINGS 6.\NK COMPANY
439117C HU•HINGTON BK OF CHILLICOTHECHILLICOTHE
------------OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
180396
310500
206371
58740
26447
20748
22501
16009
14173
17855
19136
21309
17563
20892
22883
48116
3308
4132
1728
278
563
901
775
541
129
491
255
355
285
341
290
1218
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3234
5133
5105
0
2901
0
-2901
985
-985
113
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
•
•
••
.•
•
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01
cc
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NO~~EHBER BANKS
DSS
4391270
4391345
4391465
4391530
4391540
43~ 16,5
4391650
4391655
43q16~0
4391850
4391%5
43SZ0S0
4192110
4392140
4392150
43q2430
4392465
43?2480
092500
4392760
4392810
4392830
4392935
4393050
4193090
43'1317.0
4393240
439~no
4393300
43q3335
4393410
4n3430
4Jn5l0
4393630
4Jq366CJ
4n36~0
4393690
4393700
4393710
4393730
4193740
4393829
4393840
4393B47
4393890
43'>3915
NAME
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
Cl I
TDEP
LOCATION
NORTH SIDE BANK ANO TRUST COCINCINNATI
SAVINGS BANK
CIRCLEVILLE
MID~EST BANK & TRUST CO
CLEVELAND
CLYDE SAVINGS BANK CO
CLYDE
PEO•LE S BANK CO
COLDWATER
FRA'IKLIN BANK
COLUMBUS
OHIO STATE 8A~K
COLUMBUS
SOCIETY BANK
CCLUMBUS
UNION BANK CO
COLUMBUS GROVE
NORTHWEST OHIO 8K OF WO CTY CYGNET
DELAWARE COUNTY SANK
DELAWARE
REEVES 8UIK ING AND TRUST CO DOVER
U~ION COMMERCIAL & SVGS BK EAST PALESTINE
EDGERTON STATE BANK CO
WGERTON
ED0~ STATE BANK CO
EDON
FREMONT SAVINGS BUIK CO
FREMONT
BUCKEYE STATE BANK
GALION
COMMERCIAL ANO SAVINGS BANK GALLIPOLIS
OHIO VALLEY BANK CO
GALLIPOLIS
CITIZENS BANK
HAMILTON
A•ERICAN 8K OF CENTRAL OHIO HARRISBURG
HICKSVILLE SANK
HICKSVILLE
FIRELANDS COMMUNITY BANK
HURON
CITY SANK
KENT
KENTON
KE~TON SAVINGS BANK
FAR~~RS AND CITIZENS BANK
LANCASTER
LEIPSIC
BANK OF LEIPSIC CO
LIMA
METROPCL IT AN SANK
FIRESTONE BANK
LISBON
LOGAN
CITIZE~S 8K CF LOGAN
FFMRS & SVNGS BK OF LDNVLL LOUDONVILLE
LOWELLVILLE SVGS & BKNG CO LCWELLVILLE
PEOPLES BANK ING CO
Ht COMB
RICHLAND TRUST CO
HA'lSFIElD
DIN!': BANK
HAR I ETTA
FIRST BANK OF MARIETTA
HARi ETTA
PEOPLES BA>IK ING ANO TRUST COMAR IOTA
FAHEY BANKING CO
HAR ION
MARION
HA~ IOll COUOITY BAOIK
~ARTINS FERRY
CITIZENS SAVINGS BANK
HAR TINS FERRY
PEOPLES SAVINGS BANK CO
MEDINA COUNTY SANK
MEDINA
SAVINGS DEPOSIT BANK CO
HEDI NA
MENTOR
STATE B&T CO OF LAKE CTY
HI0DLEF IEL0
HIODLEFIEL0 BANKING CO
MI0OLETOWN
&ARNITZ BANK
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
0420
Z3450
68433
ZIHB
3525Z
3H65
1Z7843
4Zl33
1688I
28180
51135
148080
16523
Z3479
16667
46587
22436
31713
52868
74281
17986
17983
40036
45956
26715
58433
15107
113083
16355
1517B
20028
21172
H29I
96960
16229
21480
93019
36348
47736
30667
26074
30383
248H
I6B83
18371
86122
1111/19
IZI
VL TCSH
757
247
169
400
4IZ
3Z9
2016
1Zl7
Z97
211
783
2439
398
2Z5
76
820
731
594
1123
1629
353
259
547
1039
472
1302
305
3169
213
403
264
441
118
1871
191
372
1306
720
1281
365
508
605
308
277
116
1654
131
1911
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
141
'H•
EPA
135
0
2089
0
35
43
2950
0
0
37
Z09
Z986
0
15
20
0
0
0
0
432
0
0
47
0
0
156
0
1372
0
0
0
0
0
1241
0
0
1625
0
0
34
0
0
0
0
0
1240
151
NEW
RE'-6Al
1<,1
DIF
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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.••
•
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.•••
.•
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•
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NI
~
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NONIIEMBER BANKS
OSB
NAME
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
111
TDEP
LOCATION
4394205 HENRY COUNTY BANK
4394210 NAVARRE DEPOSIT BAHK co
4394230 P cOPL ES BANK
43?4b60 OAK HILL SAVINGS BANK CO
43q4710 OLD FORT BANKING CO
4394835 SCCIETY BANK OF PAINESVILLE
4394aeo u•no~ STATE BANK
43asaso PORTSMCUTH BANKING co
4395440 CITIZENS BANKING CO
43qc;4qo
4395700
4395745
4395780
4395%0
4396010
4396080
43Q~090
43"16100
4390120
43%,210
4390250
43Q6340
43%390
43q~535
4]q6580
43966-.0
4390668
4390731
4396770
4396789
OF
NAPOLEON
NAVARRE
NELSONVILLE
OAK Hill
OLD FORT
PAINESVILLE
PAYNE
PORTSMOUTH
SALINEVILLE
SC 10 8.ANK CO
SCIO
SPENCER
FARSERS SAVINGS BANK
SPR l~GFl ELD BANK
SPRINGFIELD
MINE~S & MECH SVGS & TR co STEUSENVILLE
TIFF IN
TIFFIN SAVINGS BANK
HUNT! NGTON BK OF TOLEDO
TOLEDO
TWINSBURG
TSl'lSBURG BANKING CO
UNITED BA~K
UHRICHSVILLE
FA 0 '1ERS STATE BANK
UNION CITY
COSSESCIAL SAVINGS BANK
UPPER SANDUSKY
VERMILION
ERIE COUNTY BANK
CITIZENS BANK AND TRUST CO WADSWORTH
HUrHtNGTON BK OF WASH CT HSEWASH COURl HOUSE
WAVERLY
WAVERLY STATE BANK
FAR~ERS BANK
>EST UNION
WILLARD
WILLARD UNITED BANK
FIRST STATE BK OF AOAHS ClY WINCHESTER
CENTRAL TR CO OF. WAYNE CTY WOOSTER
YELLOW SPRINGS
MIAS! OE POSIT BANK
PfOPLF.S BANK OF YOUNGSTOWN YOUNGSTOWN
CENTRAL TR CO OF ZANESVILLE ZANESVILLE
92 BANKS AFFECTED IN STATE
60
30
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH·
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
CITIZENS BK & lR CO OF ADA
OKLAHOMA STATE BANK
ALVA STATE BANK & TR CO
ANADARKO BK & TR CO
LINCOLN BANK ANO TRUST co
ATOKA STATE BANK
UNIO"I BANK ANO TRUST
SANK OF BEAVER C ITV
14582
13437
14162
106248
105015
20731
105490
56639
27285
25404
39258
48279
19400
36516
14069
26728
46370
18917
34118
28290
67268
47051
121
VL TCSH
131
1917
REQBAL
141
NEW
EPA
476
254
0
340
534
132
1209
137
0
0
0
0
0
0
0
0
0
0
0
65
814
483
168
125
1702
2293
276
1460
688
776
228
442
692
224
587
192
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1690
0
1051
0
2318
524
0
0
0
0
9
115
91
0
0
0
0
0
0
629
499
647
673
914
1487
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
479
I 51
NEW
REQBAL
27
0
0
0
672
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
161
01 F
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
•
•
•
..
•
•
••
.••
..•
..•
.•
HAVE NO EARNINGS PARTICIPATION ACCOUNl OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
---------------------------------------10400005
10400020
10400080
I0400MO
10400175
11400190
I040D220
10400230
26713
26392
18394
15028
44081
14017
48389
23973
1/17/79
ADA
ADA
ALVA
ANADARKO
ARDMORE
ATOKA
BARTLESVILLE
BEAVER
--------------------------------------------OK
OK
OK
OK
OK
OK
OK
OK
24003
38031
20362
26760
19881
233n
55358
16839
518
0
0
507
172
0
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0
0
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154
136
431
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158
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0
0
0
0
0
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
~ON,EMBER BANKS
BENEFIT TO BANKS COVERED BY HOOIFIEO H.R. 7
111
OSB
10400240
10400210
10400310
10400430
114J0445
10400650
NA:"il!E
TOEP
LOCATION
FIRST SECURITY BANK
BEAVER
CITIZENS SECRTY BK & TR CO
Bl XBY
SECURITY BANK & TRUST CO
BLACKWELL
BROKEN ARROW
AP.KONSAS VAlLEY STATE BANK
IS T SANK & lRUST
BROKEN BOW
SECURITY STATE BANK
CHEYENNE
11)4')0658 CHICKASHA BANK & TRUST CO
CHICKASHA
10400690 ~OGERS COUNTY BA~K
CLAREMORE
CLINTON
10 1+00750 OKLAHOMA BANK & TRUST CO
104')0965 DEL STATE BANK & TR CO
DEL CITY
10401030 FIR ST BANK & TRUST CO
DUNCAN
DURANT
11401060 DUHNT BANK AND TRUST CO
1'140 l4qQ FIRST ST BK & TR CO
GUTHRIE
HENRYETTA
1040 l 62 0 A,ERICAN EXCHANGE BANK
lDABEL
11401770 FIRST ST BK OF IOABEL
10401eoo DELAWARE COUNTY BANK
JAY
10401%5 KINGFISHER BANK & TRUST co KINGFISHER
10401950 SECURITY BA~K A~D TRUST COMPLAWTON
LAWTON
1040 I 955 SHER I DAN BANK ANO TRUST CO
1040201 '5 AMERICAN BANK OF COM•ERCE
MOLESTER
MADI lL
11402060 MAJI LL BANK & TRUST CO
MIAMI
10402250 SECU~ITY BK t TR CO
MIDWEST CITY
10402258 SECURITY BANK t TRUST CO
MUSKOGEE
1H02335 A.• ER I CAN BANK OF MUSKOGEE
104023<:tS Cl TY BANK
MUSKOGEE
104()2350 co••ERCIAL BANK & TRUST co .USKOGEE
NORMAN
1J4D2415 AMER !CAN EXCHANGE BK & TR
10402518 CAPITOL Hill ST BK & TR CO OKLAHOMA CITY
104Q2Cj',5 FIRST SECURITY BANK & TR CO OKLAHOMA CITY
M4025,6 FOU~DER S BANK & TRUST CO
OKLAHOMA CITY
OKLAHOMA CITY
1040256 7 GR4in SQUARE BK & TR CO
10402568 GUARANTY BANK & TRUST CO
OKLAHOMA CITY
CKLAHQ,\IA C ITV
10402575 NORTHWEST BANK
OKLAHOMA C ITV
10402586 SHEPHERD MALL STATE BANK
OKLAHOMA Cl TY
10402587 SQUTHWE STERN BANK & TR CO
OKLAHOMA CI TY
10402588 REPUBLIC 9ANK
10402590 UIIITEO OKLAHOMA BANK
OKLAH □ .•A CITY
10402594 u,uoN BANK & TRUST COMPANY OKLAHOMA CITY
OWASSO
10402625 FIRST BANK OF OWASSO
PERRY
l040271D EXCHANGE BANK & TRUST CO
PONCA C ITV
10402760 SEC UR ITV BK & TR CO
POTEAU
10402795 POTEAU STATE BANK
PRYOR
10402820 A.SERICAN BANK OF OKLAHOMA
PURCELL
10402 e-.o FIRST A•ERICAN BK t TR
SANO SPRINGS
10402975 FIR ST BANK ANO TRUST CO
SAND SPRINGS
10402980 SANO SPRINGS STATE BANK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
16578
26464
21937
27071
238H
24081
20065
31032
22823
414B6
34186
41917
16908
22197
33847
I 8143
21238
55012
19516
24942
31841
59743
24qq9
19778
17328
68490
39018
31498
19157
46142
47161
70596
28468
31259
38793
32189
72562
88019
18061
22374
56300
24650
25159
23931
19656
23059
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121
VL TCSH
131
1977
NEW
REQBAL
EPA
81
339
318
391
505
143
226
359
131
606
483
479
251
367
0
0
141
151
NEW
REQBAL
161
OIF
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
39
0
0
0
0
0
0
0
0
0
0
0
0
0
82
0
0
0
0
0
200
0
0
511
0
299
269
691
333
395
252
760
432
279
237
918
403
543
223
444
361
698
291
395
370
390
474
402
0
0
0
0
0
424
215
499
621
306
300
340
390
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
754
0
0
86
407
0
0
0
0
0
0
0
0
0
0
0
0
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0
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0
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867
0
0
0
0
0
0
0
0
1225
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
443
346
0
1748
1958
0
0
0
0
0
0
0
0
0
0
45
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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Federal Reserve Bank of St. Louis
NONMEMBER BANKS
Ill
NAME
osB
1040308 3
10403160
10403210
10403230
104032?5
104'3300
l'.>4~.3362
10403363
10403364
10403'.'!>'5
10403366
10403368
10403372
l04J3373
104a3375
l04n395
10403415
10403420
10403421
10403422
10403424
!0403515
10'•03530
10403555
l0403560
I0',03710
10403760
l0403800
LOCATION
FIRST STATE BANK & TRUST co
BUIK CF co)4MERCE
FIRST-OKLAHOMA BANK & TR to
l l SER TY STATE BANK
THE VlllAGE BANK
AMERICAN STATE BANK
BA'IK OF tC~HERCE & TRUST co
AD.SI RAL STATE BA~K
BOULDER BANK AND TRUST co
e•OOKSIOE STATE BANK
A~ERICAN BANK OF TULSA
BANK OF TULSA
CITY BANK & TRUST COMPANY
tOMMiJNITY BAIIK & TRUST CO
F & M BANK AND TRUST to
MERCANTILE BK ANO TR CO
NORTH SIDE STATE BANK
PEOPLES STATE BANK
SECURITY BANK
REPUBLIC BANK & TRUST
UNITED BANK
OKLAHO<A ST BK & TR CO
FIRST WAGONER BANK & TR CO
cr~~UNITY BANK
WATONGA STATE BANK
WILBU~TON STATE BANK
STOCK EXCHANGE BANK
FIRST BANK & TRUST CO
co
SHAWNEE
STILWELL
SULPHUR
TAHLEQUAH
THE VILLAGE
THOMAS
TULSA
TULSA
TULSA
TULSA
TULSA
TULSA
TULSA
TULSA
TULSA
TULSA
TULSA
TULSA
TULSA
TULSA
TULSA
VINITA
WAGONER
WARR ACRES
WATONGA
WILBURTON
WOODWARD
YALE
82 BANKS AFFECTED IN STATE
OF
56
25
TDEP
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
CITIZENS VALLEY BANK
BANK OF EASTERN OREGON
CANBY UNION BANK
WESTERN BANK
CITIZHIS BK OF CORVALLIS
CITIZENS BANK OF OREGON
SIUSLAW VALLEY BANK
SOUTHERN OREGON STATE BANK
!~LANO EMPIRE BANK
co••UNITY BANK
16347
16717
19108
38036
31948
H436
110002
39058
65430
34996
25615
32417
54623
35778
218813
4699I
16767
26116
16455
67009
18438
22233
19023
38308
197,85
15304
23739
16369
121
VLTCSH
246
645
253
462
302
82
791
655
465
249
359
404
479
599
1312
507
362
4B5
602
740
193
248
288
484
358
258
296
159
131
1971
REQBAL
0
0
0
0
o
0
0
0
0
0
0
0
0
o
0
o
0
0
o
o
0
0
0
0
0
o
0
o
141
NEW
EPA
151
NEW
REQBAL
161
DIF
131-151
o
o
0
o
0
0
0
o
o
0
0
1895
0
0
0
0
0
0
0
1057
126
0
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0
921
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5176
497
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0
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HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
----------------------------
--------12410020
12410030
12410100
12410133
124l0H3
12410205
12410218
12410273
12410325
12410369
1/17/79
BENEFIT TO BANKS COVERED BY NOOIFIED H.R. 7
ALBANY
ARllNGTON
CANBY
COOS BAY
CORVALllS
EUGENE
FLORENCE
GRANTS PASS
HERMISTON
LAKE OSWEGO
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18143
1364
134
231
24134
881
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556
749
616
69
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0
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0
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0
0
o
0
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1577
0
0
0
0
ll5
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5126
439
'2584
0
766
0
0
1668
0
0
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-1668
0
0
o
0
0
0
0
0
0
0
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Federal Reserve Bank of St. Louis
NCN•E~SER BANKS
DSB
12410372
l24104l5
12410420
12410450
17410400
12410515
12410527
l24l05S4
I ~410587
12410~'>3
ll't\O6O0
12410610
12410613
12410620
12410660
12410139
OF
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NAME
ll NCOLN BANK
BA~K Cf cc~~ERCE
FIRST STATE BANK OF OREGON
SE CUR !TY BK OF COOS COWHY
94"~ CF NEWPORT
CCLU<B IA PAC IF IC BK & TR CO
OD:EGON BA\IK
PACIFIC SECU~ITY BANK
VALLEY OF THE ROGUE
SOUTH USPQUA STATE BANK
cc.,.SERC IAL BANK
PIO~EER TRUST COMPANY
WESTEAN SECURITY BA~K
CLACKAMAS COUNTY BANK
CENTENNIAL BANK
BA"K CF OREGON
LOCATION
LINCOLN CITY
Mil TON FREEWATER
MILWAUKIE
MYRTLE POINT
NEWPORT
PCRTLANO
PORTLAND
REEDSPORT
ROGUE RIVER
ROSEBURG
SALEM
SALEM
SALEM
SANDY
SPRINGFIELD
WOODBURN
26 BANKS AFFECTED IN STATE
15
8
OR
OR
OR
OR
OR
OR
OR
OR
OR
OR
OR
OR
OR
OR
OR
OR
1117/79
II I
121
I 31
TDEP
VLTCSH
1977
REQBAL
141
NEW
·EPA
151
NEW
RE~BAL
0
0
0
0
0
0
0
0
0
0
0
0
0,
0
0
0
0
0
5139
0
0
26
5186
0
0
0
1722
0
0
0
0
941
0
0
5428
0
0
0
8704
0
0
0
0
0
0
0
0
0
41722
17360
280149
2929B
35942
23198
H0058
14492
19266
34886
88472
17996
45075
17373
16136
70710
571
236
3347
415
435
62
7095
172
522
567
1263
86
1132
277
220
990
161
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131-151
0
0
-5428
0
0
0
-8704
0
0
0
0
0
0
0
0
0
•
.•
•
•
••
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HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RE SERVE BALANCE
HAYE NO REQURED RESERVE BALANCE
N)
a,
"'"
3420118
4420189
3420298
3420331
4420405
342C630
3420684
3420738
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442r,q2,
3421044
3471090
3421215
34212?4
3421233
342127a
3421305
342164 7
3421701
MID-STATE BANK & TRUST co
Al TOONA
APOLLO TRUST COMPANY
APOLLO
STATE BANK OF AVIS
AVIS
LINCOLN BANK
BALA CYNWYD
REEVES BANK
eEAVER FAUS
UNION BANK & TRUST CO
BETHLEHEM
BL'lOHSBURG BK COLUMBIA TR COBLOOHSBURG
TRI &COU~TY STATE BANK
BCWHANSTCWN
PRODUCERS BK & TR CO
BRADFORD
BROCKWAY CITIZENS BANK
BROCKWAY
BROOKVILLE BK & TR CO
BROOKVILLE
BRYN HAoR TRUST COMPANY
BRYN MAWR
FIRST SENECA BANK & TR CO
BUTLER
CARBONDALE
LIBERTY DISCOUNT &·svG BK
FAqMEQS TRUST CO~PANY
CARLISLE
CHA~BERSBURG TRUST COMPANY CHA~BERSBURG
F & H TR CO OF CHAMBERSBURG CHAMBERSBURG
VALLEY BANK & TRUST CO
CHAMBERSBURG
CHEL TENHAH
CHE l TE NHAM BANK
CLEAUIELD BK t TR CO
CLEARFIELD
CCUDERSPORT
CITIZENS TRUST COMPANY
CURWENSVILLE STATE BANK
CURSE~SVILLE
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
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287611
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33806
118061
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59072
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46545
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27047
5777
810
360
1358
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341B
852
1239
817
447
525
1147
4824
650
794
927
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1671
2727
646
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500
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Federal Reserve Bank of St. Louis
Cl I
OSB
NAME
LOCATION
3421944 U'IIO~ BANKING & T"RUST CO
OU BOIS
3421()62 HDELITY OEP & DISCOUNT BK DUNMORE
EASTON
3422061 LAFAYETTE TRUST BANK
3422205 ELIZABETHTOWN TRUST CO-PANY ELIZABETHTOWN
3422304 EMPORIU• TRUST COSPANY
EMPORIUM
4422316 SECURITY PEOPLES TRUST CO
ERIE
44223l35 U'HON BANK ANO TRUST CO
ER IE
EVERETT
3422403 EVERETT BA",/K
FORD CITY
44? 25 l 1 PEO?LES 8A",/K OF FORD CITY
3422763 GLEN ROCK ST ATE BANK
GLEN ROCK
Jt,22772 PEOPLES BANK OF GLEN ROCK
GLEN ROCK
HAMBURG
3472898 PA<~URG SVGS & TR CO
HANOVER
3422912 BK OF HANOVER & TR CO
HANOVER
3422916 FARME~S BANK ANO TRUSf co
3423015 DAUPHIN DEPOSIT BANK & TR COHARR I SBURG
3423070 JE!=FERSON BANK
34231J5
342324C
4423249
34232~1
3423276
342329'
3423315
4423492
44 2 ~ 52 0
3423528
4423537
3423555
34235'\C
3423591
3423627
4423672
3423744
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34z3qso
3424077
3424176
442424 5
4424675
3 1t2468q
3424~ ',2
3424897
3:.z4q11
34?50H
3425035
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BENEFIT TO BANKS COVERED BY HOOi F IEO H.R. 1
ND~•E~8ER BANKS
HAVERFORO
HAWl EV
H.\',,ILEY BANK
HOLLI OAYS8URG TRUST COMPANY HOLLIDAYSBURG
HO,"i'ER CITY STATE BANK
HOMfR CITY
HONESDALE
FARMERS ANO MERCHANTS BANK
~O~IESOALE OIME BANK
HONESDALE
WAY~E COUNTY BANK ANO TR CO HONESDALE
HUMMELSTOWN
FAR ._.E'\ S BANK ANO TRUST CO
IRWIN
(R,ilN BANK C. TRUST CO~,tPANY
THREE RIVERS BANK & TRUST COJEFFERSON BORO
HID~STRIAt_ VALLEY 8K & TR COJENKINTOWN
JfNNERSTCWN
P[OPLES BA~~K t TRUST CO
JERSEY SHORE STATE BANK
JERSEY SHORE
JIM THORPE
MAUCH CHUNK TRUST COMPANY
JOHNSTOWN
JOH~STOWN BANK C. TRUST CO
JONESTOWN
JONESTOWN BK & TR CO
KITTANNING
ASSSTROr,G COUNTY TRUST CO
KUTZ TOWN
FAR'tERS BArlK OF KUTZTOWN
LANCASTER
FULTO~• 6Af.lK
l ANSFOR.O
FIRST VALlEY BANK
LEBANON
LEBA~ION COUNTY TRUST co
LEWISBURG
LEW I SBURG TRUST BANK
LITITZ
FAR.ERS FIRST BANK
LOWER BURRELL
KEYSTO~E BANK
MAR I ~~E BANK
MEADVILLE
FIRST BANK ANO TRUST COMPANYMECHANI CSBURG
MIFFLINBURG
MIFFLINBURG BK & TR CO
~ILLERSBURG
MIO PENN BANK
MINERSVILLE
MINERSVILLE SAFE OEP BK
BK OF CENTRAL PENNSYLVA~IA MONJOURSVILLE
HORR I SY I LL E
,SJRRISVILLE BAN~
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
TOEP
121
VllCSH
58370
41078
50148
32007
24065
193199
148607
16229
17791
23815
39280
34739
75780
97608
871
533
631
592
427
5504
3974
380
420
479
801
535
1154
1225
468513
6951
21617
19347
46521
50386
341
337
945
28133
13651
40557
45519
57509
54115
1101092
31842
32173
12642
156437
22423
19737
28042
30H88
522785
52734
23687
176437
124152
283340
36269
29342
41275
19514
63930
~6812
JOH
180
216
557
915
1087
1590
7128
596
635
328
4030
467
340
131
1911
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
624
5436
5975
576
269
2009
2663
5731
687
352
763
0
0
0
0
0
357
0
860
0
0
1234
0
0
0
0
0
0
'"'
NEW
EPA
252
341
386
0
0
2709
1368
0
0
0
0
0
482
1112
5110
0
0
0
0
211
0
121
0
25
43
5263
0
0
0
1454
0
0
0
151
NEW
REQBAL
161 ·
OIF
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10930
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
39690
0
0
0
0
0
0
0
0
0
-10930
0
0
0
0
0
0
0
0
0
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-39690
0
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Federal Reserve Bank of St. Louis
NON.EMBER BANKS
DSB
NAME
3425230 co•• □ NSEAL TH BANK t TR CO
34252.38 MU~CY BANK t TRUST CO
44253n NEW BETHLEHEM BANK
44'5454 PEC•LES BK OF WESTERN PA
342566C co~HlN!:NTAL BANK
4425790 NrRTHSEST PA BK ANO TR co
34258I4.0LD FORGE BANK
3425945 CC~'1UNITY STATE BANK
34258% PE CPL ES BANK
3425895 CITIZrns BK t TR co
3425922 VAllEY TR CO OF PALMYRA
3•2•025 BUCKS CTY BK t TR CO
1117/19
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
lOtATICN
MUNCY
MUNCY
NEW BETHLEHEM
NEW CASTLE
NGRR 1 ST GWN
OIL CITY
CLO FORGE
GRB ISOOHA
OXFORD
PALMERTCN
PALMYRA
PERKASIE
PHILADELPHIA
3426174 FRANKFORD TRUST COMPANY
4426561 ALGHNY VLY BK OF PITTSBURGH Pl TT SBURGH
PI lT SBURGH
4426741 NOSTH SIDE DEPOSIT BANK
3426Sd5 1ST BK OF GREATER PITTSTON PITTSTON
PITTSTON
~421.903 MINERS SAVINGS BANK
PLUM BORO
44zogz5 PEOPLES BANK OF UNITY
PORT MATILDA
3 1t26984 CO"t'1UNITY BANK
POTTSVILLE
3427~93 U~ION BANK & TRUST CO
RALSTON
342 7171 CITIZ~NS & NOPTHERN BANK
34271 'H Mi ER I.CAN BK ANO TR CO OF PA REAO ING
3427205 BANK OF PENNSYLVANIA
READING
4427400 SHESAOEN BANK
ROBINSON TOWNSHIP
3427536 SALi X ST ATE BANK
SALi X
SANDY LAKE
4427524 MERCER COUNTY STATE BANK
SCHUYLKILL HAVEN
342759 7 SCHUYLKILL HAVEN TR CO
44276l4 S~OTTOALE SAVINGS ANO TR CO SCOTTDALE
SCRANTON
3427650 NORTH SCRANTON BK & TR CO
SCRA--iTON
3427660 NaqTHEASTEqN BANK OF PA
SCRANTON
3427665 PENN SECURITY BANK & TR CO
342 7704 WEST SIDE B°"K
SCRANTON
3427722 SNYDER cou,nY lRUST CO~PANY SELINSGROVE
SMETHPORT
342SCIO Ht.~LtN BK & TR CO
sc.•EqsET
4"t28055 COU'HY TRUST C0,"1PANY
STATE CCLLEGE
3428179 CENTRAL COUNTIES SANK
3 1,29290 St CUR I TY BANK & lRUST co
S TROUOSBURG
TROY
3428532 FIRST BANK OF TROY
UNIONTOWN
44286lS FAYETTE BANK ANO TRUST CO
kALNUTPORT
3428676 WALNUTPORT STATE BANK
442 8700 PrnNSYLVANIA BANK t TRUST COWARREN
WEST MILTON
34zaq31 WEST MILTON STATE BANK
WEST Pl TTSTON
3428955 WEST SIDE BANK
3428991 HANOVER BANK OF PENNSYLVANIAWILKES-BARRE
WILKES-BARRE
3429010 UNITED PENN BANK
WILL I AM SPORT
3429095 NORTHERN CENTRAL BANK
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
PA
111
TOEP
I 21
VlTCSH
144166
23961
24494
63447
1133198
255025
58576
13959
20743
28310
64246
148834
133277
42262
53229
46953
42559
43214
14865
2688B
93B48
1202860
349082
34 791
15532
16264
25155
14475
50320
577924
121545
62349
50183
31923
3934 I
263292
97476
34983
101436
16261
414277
19974
16680
62087
470616
225586
2479
226
218
1967
1065B
33Bl
872
235
252
238
1110
2707
1458
987
732
658
1076
1500
116
748
1743
16867
6191
760
386
154
611
558
1128
8728
1745
1650
630
777
590
6495
1805
639
1181
297
6232
247
494
1074
7756
4127
131
1977
REQBAl
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
151
NEW
REQBAL
2614
25
10
0
5277
5111
278
0
0
160
173
2771
3872
0
0
0
0
0930
2873
0
0
0
0
0
0
0
0
0
0
676
112
0
0
0
0
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5217
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0
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0
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5230
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281
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5194
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2182
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5150
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0
296
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161
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131-151
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Federal Reserve Bank of St. Louis
34nl28
3429268
3429275
3429306
OF
BK C TR CO OF OLD YORK RD
SOUTHERN PENNSYLVANIA BAIIK
YORK SANK AND TRUST COIIPANY
YORK HAVEN SHTE BANK
WILLOW GROVE
YORK
YORK
YORK HAVEN
llB BANKS AFFECTED IN STATE
56
45
PA
PA
PA
PA
52112
157796
323817
15294
1135
2129
7809
2H
0
0
0
0
350
3019
5182
D
0
0
913
0
0
0
-913
0
•
•
HAVE NO EARNINGS PARTICIPUIDN ACCOUNT OIi REQUIRED RESE.RYE BALANCE
HAVE NO REQURED RESERVE BALANCE
---------1440090
144J125
1440210
1440222
OF
PAWTUCKET TRUST COMPANY
CITIZENS TRUST COMPANY
OLD STONE BANK
PEOPLES TRUST COMPANY
PAWTUCKET
PROVIDENCE
PROVIDENCE
PROVIDENCE
It BANKS AFFECTED IN STATE
l
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---------5450020
5450050
5450085
545J092
5450280
5430301
54503H
5450308
5450515
5450585
5450605
545J62C
5450630
5450680
5450700
5450720
54~•0790
5450830
5450~~0
5450875
5450930
54512?0
FAR~ERS AND MERCHANTS BANK AIKEN
ANDREWS BANK AND TRUST CO
ANDREWS
SA~K OF BEAUFORT
BEAUFORT
CAP ITAL BANK ANO TRUST
BELTON
M S BAILEY ANO SON BANKERS CLINTON
BANKERS TRUST Of St
tOLUIIBIA
'IRST-CITIZENS BK ANO TR CO COLUMBIA
FIRST PALMETTO ST BK & TR COtOLUMBU
PEOPLES BANK OF S C INC
FLORENCE
C0~1UNITY BANK
GREENVILLE
SOUTHE~~ B4NK AND TRUST CD GREENVILLE
COUNTY BANK
GREENWOOD
BANK CF GREER
GREER
ANOERSON STATE BANK lNC
HEMINGWAY
FRM & MRCH BK OF SC
HOLLY HILL
Ct'~1ERC I AL BANK
HOllEA PATH
LAKE t ITY STATE BAflK
LAKE CITY
BANK CF LA'ltlSTER
LANCASTER
PALMETTO BANK
LAURENS
LEXINGTON STATE BA'<K
LEXINGTON
AIIOERSON BROTHERS BANK
~ULLINS
SPARTANBURG BK AND TR CD
SPARTANBURG
RI
RI
RI
RI
2Z74B
137555
969490
23550
,,
551t6
76Z5
1451
0
0
0
519
3303
5302
0
0
28317
0
0
-28317
0
0
0
0
•
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAYE NO !IEQURED RESERVE BALANCE
----------------SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
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33059
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16759
18158
35329
35807
60004
20716
51277
2160
0
101
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620
622
553
13024
5335
596
671
773
11528
523
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620
544
449
482
103T
865
1223
661
1036
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0
0
0
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0
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0
5318
5174
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0
170
5155
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109
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0
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13683
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0
0
0
0
0
0
0
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0
0
0
0
0
0
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-1398
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0
-1138
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Federal Reserve Bank of St. Louis
NON~EMBER BANKS
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
Ill
DSB
NA~E
LOCATION
54513~0 ARTHUR STATE BANK
5'51360 FA~~ERS A~D MERCHANTS BANK
5451440 FIRST CAROLINA BANK
OF
9460650 co~~~NITY BANK
OF
16
6
FIRST ST BK OF HIGHMORE
OAKOTA STATE BANK
FAR~~RS STATE BANK
S~CURITY STATE BANK
COMMERCIAL STATE BANK
FU~ERS & MRCH BK & TR co
AMERICAN STATE BANK
FAR.~Eqs STATE BANK
A~ERICAN STATE BANK
121
VLTCSH
510
749
291
131
1977
R£08AL
0
0
0
141
r,£w
EPA
151
N(III
,u~e•L
0
0
0
0
0
0
,~1
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131-151
0
0
0
.
HAVE NO EARNINGS PARTICIP"ATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
-----------
BURKE
CHA~SERLAIN
GETTYSBURG
HARTFORD
HIGHMORE
MILBANK
PARKSTON
TYNOALL
WAGNER
WATERTOWN
WESSINGTON SPGS
WINNER
YANKTON
13 BANKS AFF Et TED IN STATE
25630
35090
l490't
SC
SC
SC
-------------
'1460230 FIRST FIDELITY BANK
9460235 TRI-COU,,TY STATE BANK
94b0640 FIRST POTTER COUNTY BANK
9460690
9460Q70
94611~5
9461430
946l5JO
9461530
9461570
9461620
~461640
UNION
WALTERBORO
YEMASSEE
25 BANKS AFFECTED IN STATE
----------
TOEP
1/17/79
10
3
SD
so
SD
so
so
so
SD
SD
SD
so
SD
SD
so
-----------------18008
20519
19091
16980
14501
19667
23330
14933
20835
46850
14474
39026
50427
132
109
158
93
65
182
197
70
88
304
100
603
HO
0
0
0
0
0
0
0
0
0
0
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0
0
0
0
0
0
0
0
0
0
21o
373
0
0
266
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1082
0
0
0
0
0
0
0
0
17
0
0
0
0
0
0
0
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0
0
0
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0
0
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••
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HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAYE NO REQURED RESERVE BALANCE
--------------------647~040
6470050
6470060
i47C095
8470120
6470180
8470190
84702JO
8470240
9470250
8470290
6 1• 70310
6470310
64704JO
DEKALB CTY BANK t TRUST CO
BANK CF ARDMORE
ASHLAND C ITV BK ANO TR CO
llBERTY 8Al'IK Of TEN'IESSEE
8AaRETVILLE BK ANO TRUST CO
TR I &CI TY BANK AND TRUST CO
BA'I~ CF BOLIVAR
HAROEMAN CTY SAVINGS BA'IK
BROWNSVILLE BANK
Fl~ST STATE BAl'IK
SAN~ CF CAMDEN
CITIZENS BANK
SMITH COUNTY BANK
PIONEER BANK
ALEXANDRIA
ARDMORE
ASHLAND CITY
ATHENS
8ARRETVILLE
BLOUNTVILLE
BOLIVAR
BOLi VAR
BROWNSVILLE
BRCWNSV ILLE
CAMDEN
CARTHAGE
CARTHAGE
CHATTANOOGA
TII
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
16710
15906
23676
30113
75320
70373
15414
H902
30810
25514
25846
40593
24584
147316
226
296
429
661
2825
796
387
502
313
547
319
351
315
2571
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
170
0
3614
0
0
0
0
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Federal Reserve Bank of St. Louis
NO~~EMBER BANKS
OSB
6470410
64 70430
6470440
6470460
6470475
64 7049 0
6470500
6470540
6470549
6470550
84 :"P')t;,1)0
8470610
8470620
6470630
647C6JS
641(~660
6470670
6410705
6470730
8470740
6470750
8470315
6'•70d25
6470840
6470~50
b470900
6470QIJS
61+ 70?&0
f:,4 709'3 0
6 1♦ 70995
8471031
6471050
6'+71090
NAME
BENEFIT TO BANKS COVERED BY MOOIFIEO H,R, 7
(II
lDEP
LOCATION
UNITED BANK OF CHA TT ANOOGA CHATTANOOGA
FIRST TRUST ANO SAVINGS 8ANKCLAP.KSVILLE
NORTHERN BANK OF TE'mESSEE CLARKSVILLE
CLEVELAND BANK AND TRUST CO CLEVELAND
FIRST CITIZENS BANK
CLEVELAND
,.._ERCHANTS BANK
CLEVELAND
UNlON PEOPLES BANK
CLINTON
MIDJLE TENNESSEE BANK
COLU'<BIA
BA~~K OF PUTNAM CTY
COCK EV ILLE
CITIZENS B~NK
COOKEVILLE
FIRST ST BK CF COVINGTON
CDV ING TON
TIPTON CTY BANK
COVINGTON
COVINGTON
UNION SAVINGS BANK
FRMlKLIN COUNTY BANK
COWAN
C'U'i!1Eq_lAND CCUNTY BANK
CROSSVILLE
JU F[RSON COUNTY OANK
DA.NOR IUGE
DAYTO\I BANK AND TRUST CO
DAYTON
BA~K OF DICKSON
DICKSON
DOVER PEOPLES BK ANO TR. CO
DOVER
WEAKLEY COUNTY BANK
DRESDEN
DUCKTOWN BANKING COMPANY
DUCKTOWN
FIRST TN BK DYERSBURG TN
DYERSBURG
CllY BANK
EAST RIDGE
CARTER CTY 8 OF ELIZABETHTONELIZABETHTON
Cl TIZENS BANK
ELIZABETHTON
FAYETTEVILLE
LINCOLN COUNTY BANK
PEO?LES BANK OF ELK VALLEY FAYETTEVILLE
FRANKL l N
WILLIASSON COUNTY BANK
JACKSON COUNTY SANK
GA I NESS ORO
GALLATIN
BANK QF GALLATIN
GERMA~T(WN
BANK OF GER~ANTC~N
GOODLETTSVILLE
BANK OF GOODLETTSVILLE
GREENE COUNTY BUIK
GREE NEV ILLE
HA.RR ( M4N
BA:',iK OF ROANE COUNTY
HENDERSON
FIRST STATE BA"IK
HENDERSONVILLE
BANK OF HENDERSONVILLE
CTI BANK OF HENDERSONVILLE HENOERSCNVILLE
HOHE"lWALD BANK ANO TRUST CO HOHENWALO
6471130
8471 \60
6471170
6ft 71172
6471190
HUMBOLDT
8471210 ,\IIEJ;.CHA'.IJfS STATE BANK
HUNTINGDON
Bt,71220 BANK CF HU~H JNGOON
JACKSON
8471265 FIRST TN BK JACKSON TN
JAMESTOkN
6471190 UNIO~ BANK
647\ lJO MARION TRUST ANO BANKING CO JASPER
64 71320 CY & C TY BK OF CAMPBELL CTY JELL !CO
6'971340 HAMIL TCN BANK OF JOHNSON CY JCHNSON CITY
6471353 UNITED A<ERICAN BK IN WA CTYJCHNSON CITY
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TH
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
75084
63217
69074
46758
20989
51118
63196
52138
30524
59970
29295
5BB04
17626
15559
18810
10507
40652
19947
14119
17981
19687
35925
20017
37916
34211
268.6 7
14858
64014
17814
29064
19118
44816
65106
63026
27385
19914
20522
14241
33971
44\73
26480
20248
19639
26620
91230
97685
1/17/79
121
VLTCSH
1897
818
1038
1077
161
1026
1500
764
554
637
242
798
414
304
232
2n
720
250
170
305
zq9
540
256
1226
1141
556
208
890
230
854
136
380
1442
1291
361
395
323
178
562
801
825
362
624
513
1616
1558
1977
141
NEW
REOBAL
EPA
131
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
456
703
889
0
0
359
64
299
0
553
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309
0
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301
511
124
0
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151
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0
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0
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0
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0
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0
0
0
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0
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161
DIF
131-1 51
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NO·N~EMBER BANKS
OSB
6•71360
6471410
6471430
647l4J5
6471461
6471465
b4714q6
6471498
6471500
6471545
1t7}552
6
6471se:;s
6471580
94 71590
64716.;Q
6471660
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647H>90
B471700
8471710
6471'720
6471750
6471170
84"11730
8471790
6471BOO
6471815
6471835
s411eso
84719':,5
8471995
8471910
8471920
NAME
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
FIRST TN BANK JONESBORO TN
JONESBORO
CITY & CTY BK OF ROANE CTY
KINGSTON
BANK OF KNOXVILLE
KNOXVILLE
C:TY t COUNTY 8K OF KNOX CTYKNOXVlLLE
FIRST ASERICAN BANK
KNCXVILLE
FIRST TN BANK KNOXVILLE TN KNGXVILLE
U~ITEO AMERICAN BK IN KNXVLEKNOXVILLE
VALLEY FIDELITY BK & TR CO
KNCXVILLE
CI Tl ZENS BANK
LAFAYETTE
LEBl\~ON BA~K
LEBANON
LEBANON
PEOPLES BANK
B,\'lK CF LOUDON COUNTY
LENOIR CITY
PEOPLES ANO UNION BANK
LE•I SBURG
CENTRAL STATE BANK
LEXINGTON
UNION BANK AND TRUST COMPANYLIVIN,STON
BANK OF LORETTO
LORETTO
FARMERS BANK
LYNCHBURG
UNION BA~K
MC EWEN
MC KENZIE
SC KErlZIE BANKING COMPANY
~A'I"<. OF ~C LEMORESVlllE
MC LEMDRESVILLE
CITY BANK ANO TRUST COMPANY MC,SINNVILLE
MADISONVILLE
MANCHESTER
PEOPLES BANK AND TRUST co
MART IN
CITY STATE BANK
~ART IN BANK
MARTIN
MAOYVILLE
BANK CF MAOYV ILLE
CITIZENS BANK OF BLOUNT CTY MARYVILLE
Ct TY t CTY BANK OF UNION CTYMAYNAROSVILLE
CCSSERCIAL & INDUSTRIAL BANKMEMPHI S
"IEMPHt S BA'~K: ANO TRUST COMPAMEMPHIS
TRI STATE BA~K OF MEMPHIS
MEMPHIS
BANK: OF SAD! SONVILLE
FAR,'1ERS PEOPLES BANK
MILAN BANKING COMPANY
8AtJK CF CC'-tMERCE
MILAN
,.,.tlAN
MORR I STGWN
~ORR ISTGWN
FIRST rn BK MORRISTOWN TN
HAMILTON BANK OF MORRISTOWN MCRRISTGWN
UNTO STHERN 8K OF MOP.RI STC>NMORRI STGhN
FARSERS STATE BANK
MCUNTAIN CITY
~CUNT JULIET
BANK CF MOUNT JULIET
MURFREESBORO
CITIZENS CENTRAL BANK
MURFREESBORO
MURFREESBORO BK ANO TR co
NASHVILLE
NASHVILLE CITY BK t TR co
NEWBERN
8 1♦ 72110 SECURITY STATE BANK
6'•72120 MERCHANTS AND PLANTERS BANK NEWPORT
NEW TAZEWELL
6472130 CITIZENS BANK
OAK R !OGE
6472165 BA~K CF OAK RIDGE
& ➔ 11qso
6411 'l52
6471960
64 7 l <l65
647\990
6472000
6472035
6'•72040
6472092
Ill
TOEP
LOCATION
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
52654
21878
99713
74453
48139
86804
431497
132092
21984
45452
19263
24663
30527
24420
37957
14119
16714
IB967
21272
19630
53551
30405
17308
18513
31640
114487
20357
20531
156243
198218
22330
2BOl6
22312
56332
20344
385BO
16322
24828
14964
22510
Bl 517
130208
16783
35118
33438
57991
1/17/79
121
VL TCSH
1436
575
1144
1057
640
1570
14108
1629
558
1031
321
611
421
550
378
260
182
334
484
409
1513
510
386
I 31
1917
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
337
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184 7
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178
329
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315
370
1275
535
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443
360
405
321
1664
902
275
791
497
929
141
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0
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2076
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133
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Federal Reserve Bank of St. Louis
NON•E~BER BANKS
DSB
NAME
111
TDEP
LOCATION
6472190 FIRST TRUST AND SAVINGS BANKONEIOA
B472220 CO•MERCIAL BANK AND TRUST tOPARIS
8472230 FIRST TRUST & SVGS BANK
PARIS
8472240 FARMERS BANK
PARSONS
6472HO FA'"ERS BA~K
rORTLAND
64 72300 U~IO'l BANK
PULASKI
647232'0 MACO~ BANK AND TRUST to
RED SOILING SPR
64?2340 9A~K OF RIPLEY
RIPLEY
8472350 FARSFRS UNION BANK
RIPLEY
64723m CITIZENS UNION BANK
ROGERSVILLE
64723d5 CITY & CTY BK OF HAWKINS tTYROGERSVILLE
6412410 CTZ BK & TR CO OF GRNGR tTY RUTLEDGE
8472:440 CITIZENS BANK
SAVAN~AH
8472470 SFLMER BANK AND TRUST to
SELVER
64724,0 BANK OF SEVIERVILLE
SEVIER VILLE
6472490 SEVIER COU~TY BANK
SEVIERVILLE
8472510 BANK OF SHARON
SHAP.ON
647 2515 B~OFORO COUNTY BA~K
SHELBYVILLE
6472540 FIRST CENTRAL BANK
s•ITHVllLE
8472570 SO~ERVILLE BANK AND TRUST COSDMERVlllE
6472580 FIRST BANK OF MARION CTY
SOUTH PITTSBURG
64726~0 SWEETWATER VALLEY BANK
SWEEJ1,,i1ATER
6472670 CLAIBOR:lE COUNTY BANK
TAZEWELL
84 72 73 0 BANK OF TRENTON & TRUST CO TRENTON
84728?0 FAR~ERS EXCHANGE BANK
UNION C ITV
6472~50 Cl TIZENS BANK OF WAVERLY
WAVERLY
6472860 BA'IK CF WAYNESBORO
WAYNESBORO
6472900 CITY ANO CTY BK OF JEFF CTY WHITE PINE
6472940 BANK OF COMMERCE
WOODBURY
OF
1111/79
BENEFIT TO BANKS COVERED BY HOOIF IED H.R. 7
135 BANKS AFFECTED IN STATE
98
35
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
23674
52607
28380
19905
25507
42698
30194
29590
24260
60410
24199
20764
H330
24605
36960
29830
13544
14725
15162
26888
22674
34995
23484
19628
35687
23351
16332
14686
30655
121
VUCSH
368
704
403
26'
799
640
381
261
316
1157
499
501
278
469
509
310
15B
424
178
310
508
n6
294
286
669
425
425
558
610
141
131
1977
NEW
REQBAL
EPA
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
151
NEW
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0
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DIF
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0
0
0
0
0
0
0
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0
0
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0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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0
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466
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BANK CF CC~MERCE
ADDISON STATE BANK
ALAMO BANK OF TEXAS
BANK OF SOUTH TEXAS
ALVIN STATE BANK
BA~< OF THE SOUTHWEST
NORTH STATE BANK
SECUOI TY STATE BANK
AllGLE TON BANK CF COMMERCE
•
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HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RE5_ERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
---------11480015
l14800lT
11480040
114800~8
11480120
11480155
11480167
11460180
11480200
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ABILENE
TX
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ALAMO
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AMAR ILLD
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ANAHUAC
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TX
TX
TX
TX
TX
TX
TX
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34397
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24791
80139
53045
38660
31102
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120
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684
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549
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Federal Reserve Bank of St. Louis
NCN'1E,~3ER BA~l<S
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
Cl I
DS3
11480241
11480253
l 14~1)254
l 1'1'80345
114:10373
11430375
l l4eo.H6
11490378
114~0)95
11410500
11490520
11480535
11490536
11460545
11480550
11480558
11480760
11,sneo
11480800
11490810
ll4e0830
11480920
l t 480qb0
11481025
11481035
1148\100
11481110
ll4et265
11481268
11481290
114H 310
11481335
11 1~81538
11481540
11481560
11491565
11481570
1l4dl~83
114H630
\l4916d0
ll4el69Z
11481722
11491725
11481745
11481749
11481860
NAME
TDEP
LOCATION
Fl•ST STATE BANK
ARANSAS PASS
ARLl11GTON BANK OF COMMERCE
ARLINGTON
A•LINGTON SANK & TRUST
ARLINGTON
BAIi~ CF AUST IN
AUST IN
NORTH AUSTIN STATE BANK
AUSTIN
TEXAS STATE BANK
AUS TIN
TRAVIS 9A~~ ANO TRUST
AUSTIN
UNIVERSITY STATE BANK
AUSTIN
AZLE STATE BANK
AZLE
B• Y C !TY BANK ANO TRUST co 8AY CITY
PECPLES STATE BANK
BAY TOW~
BEAUMONT STATE BANK
BEAU,~ONT
BEAUMONT
CENTRAL BANK
l AMA.R STATE BANK
BEAUMONT
TEXAS BANK OF BEAUMONT
BEAUMONT
FIR ST STATE BANK
BEDFORD
BOERNE ST ATE BANK
BOERNE
BONH,\.14 ST ATE BANK
BONHAM
FIRST BANK & TRUST CO
BOOKER
PANHA.NOLE BANK & TRUST co
BORGER
CONTINENTAL STATE BANK
BOYD
WASH( NG TON COUNTY STATE BANKBRENHAM
BROWNFIELD
BRO'a~F !ELD ST BK & TR CO
SOUTH WE ST STATE BANK
BROWNWOOD
FIRST BK t TR BYRAN TX
BRYAN
FAR'1ERS AND MERCHANTS STATE BURLESON
F IP.ST STATE BANK
BURNET
DALL•S COUNTY STATE BANK
CARROLL TON
FIRST B•NK & TRUST
CARROLL TON
FIRST STATE BANK & TRUST co CARTHAGE
FARMERS STATE BANK
CENTER
CHANNELVIEW BANK
CHANNEL V lEW
CLE,ELAND BANK & TRUST
CLEVELAND
FAR~ERS STATE BANK
CLEVELAND
CLIFTON BANK
CLIFTON
FIRST STATE BANK
CLUTE
COLE.AN BANK
COLE•AN
BANK CF A & M
COLLEGE STAHON
FIRST STATE BANK
COLUMBUS
SEC~RlTY STATE BANK
CC~MERCE
CONROE
ALLIED CONROE BANK
COPPERAS COVE
COVE STATE BANK
CTZ ST BK OF CORPUS CHRISTI CCRPUS CHRISTI
1ST ST BK OF CORPUS CHRISTI CORPUS CHRISTI
CCR PUS CHRIST!
PARKDALE STATE BANK
CROSBY
CROSBY STATE BANK
lX
TX
TX
TX
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TX
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TX
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TX
TX
TX
TX
TX
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TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
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51142
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335
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279
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186
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272
231
436
213
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184
1015
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345
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391
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258
426
171
556
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236
559
278
1242
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904
282
131
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NEW
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Federal Reserve Bank of St. Louis
NON.~EMBER BANKS
DSB
NAME
111
TOEP
LOCATION
11491q20 FA~MERS ST BK & TR CO
TX
16933
ll48lq50
ll4Sl%B
11481%9
ll4SIQ70
1141qq79
TX
TX
TX
TX
31225
25606
46421
65782
23885
35861
90379
33247
50397
22094
59736
59857
28182
72033
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70178
23036
87919
137136
70035
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21557
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41167
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1148255 8
11482563
114~2630
11482670
1111119
BENEFIT TO BANKS COVERED BY MODI F IEO H.R. 7
CUERO
CITIZENS STATE BK OF DALHARTDALl'ART
BANK Of TEXAS
DALLAS
BANK OF DALLAS
DALLAS
A~E~ICAN B~ & TR CO
CALLAS
CAP IT Al BANK
DALLAS
DALLAS BANK & TRUST CO
CALLAS
DALUS l~TERNATICNAl BANK
DALLAS
EAST DALLAS BANK
DALLAS
FIRST CITIZENS BANK
DALLAS
DALLAS
FIRST CONTINENTAL BAN~
GRASD AVENUE BANK
DALLAS
GREEWlllE AVE BANK & TRUST DALLAS
DALLAS
GRClVE STATE BANK
GUActA~lY BANK
DALLAS
DAllAS
LAKEWOOD BANK & TRUST co
MERCHANTS STATE BANK
DALLAS
DALLAS
METRO BANK Of DALLAS
DAllAS
NORTH OAlUS BK & TR CO
OAK Cliff BANK ANO TRUST co DALLAS
PARK CIT I ES BK ANO TR CO
DALLAS
PRESTON STATE BAN<
DALLAS
TEXAS AM BANK DALLAS NORTH DALLAS
DALLAS
VALLEY VIEW BANK
DALLAS
WHITE ROCK BANK OF DALLAS
DALLAS
WYNSEWOOD BANK & TRUST
DAYTON
DAYTON STATE BANK
DEER PARK
ALLIED DEER PARK BANK
STATE BANK
OE KALB
DEL RIO
DEL RIO SANK AND TRUST co
FIRST STATE SANK
DENTON
DENTON
U~IVERSITY STATE BANK
YOAKUM COU'ITY STATE BANK
DENVER C ITV
DE SOTO
OE SCTO STATE BANK
DICKINSON
CITIZENS STATE BANK
DIM•ITT
f IRST STATE BANK
EAST BERNARD
U~ IQ.~ STATE BANK
FIRST STATE BANK & TRUST co EDINBURG
EDNA
FIRST BANK OF EDNA
EDNA
JACKSCN COUNTY ST ATE BANK
El CAMPO
COM~ERCIAl STATE BANK
El PASO
A~ERICAN BANK OF COM,~ERCE
El PASO
CO ROSADO STATE BANK
El PASO
FIRST STATE BAN'<.
ENNIS
E~m1s STATE BANK
FAIRFIELD
FAIRFIELD STATE BANK
TX
TX
TX
7X
TX
TX
TX
TX
TX
TX,
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
121
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229
485
478
550
811
345
793
559
271
496
252
974
792
390
911
990
1116
421
llBB
2707
603
2013
1231
390
519
765
589
626
187
684
574
522
180
409
475
247
152
681
225
196
342
334
304
447
251
139
131
1977
REQBAL
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
0
0
0
514
1107
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0
2526
41
658
0
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823
0
700
.3850
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0
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111
TOEP
LOCATION
BANK
SAN ANTONIO
SERGANTILE BANK AND TRUST
SAN ANTONIO
SAN ANTONIO
~mRTHSIOE STATE BANK
SAN ANTONIO BANK & TRUST CO SAN ANTONIO
USION STATE BANK
SAN ANTONIO
WESTSIDE SANK
SAN ANTONIO
SAN ANTONIO
TEXAS STATE BANK
SAN BENITO BANK ANO TRUST COSAN BENITO
SEABROOK
ALLIED SEABROOK BANK
SEAGOVILLE
SEAGOVILLE STATE BANK
SEALY
CITIZENS STATE BA"IK
SEGUIN
SEGUIN STATE BK & TR CO
SESINOLE STATE BANK
SE·" !NOLE
SHER,"AN
GSAYSCN COUNTY STATE BANK
C0'1'1ERC.1Al STATE BANK
SINTON
CITIZENS BANK OF LUBBOCK CTYSLATON
SNYDER
WEST TEXAS STATE BANK
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
19885
31321
26923
159138
66555
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97803
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24560
29468
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38433
30672
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429
485
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677
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425
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268
557
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609
389
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342
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492
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284
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328
358
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240
469
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238
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0
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0
110
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107
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Federal Reserve Bank of St. Louis
NO~MEMSER BANKS
DSB
NAME
11487475
114~74~0
114?7435
11487540
ll4A7570
11487625
11 1t17650
11497775
11487792
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11489300
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11488317
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11488340
ll48S367
11488415
11488418
11488477
ll4P~510
114,8525
OF
12490010
12490023
12490025
1z4qoo35
1z4qoo40
1z4qo100
12490150
LOCATION
SOUTHERN STATE !ANK
SOUTH HOUSTON
FIRST STATE BANK
SPEARMAN
ALLIED SPRING BANK
SPRING
STEPHENVILLE ST BK G TR CO STEPHENVILLE
FIRST STATE BK OF STRATFORD STRATFORD
SUGAR LANO STATE BANK
SUGAR LAND
TEXAS BA11K AND TRUST COMPANYShEETWATER
TERRELL STATE BANK
TERRELL
TEXA~KANA OAKLAWN BANK
TEXARKANA
'IA.INLAND SANK
TEXAS CITY
SOUTHSIDE STlTE BANK
TYLER
HILLCREST STATE BANK
UNIVERSITY PARK
FIRST STATE BANK OF UVALDE UVALDE
UVALDE BANK
UVALDE
A~ERICAN BANK OF co,MERCE
VICTORIA
THE AMERICAN BK OF WACO
WACO
CCM~UNITY STATE BANK
WACO
WAXA~ACHIE BANK ANO TRUST COWAXAHACHIE
BAY AREA BANK AND TRUST
WEBSTER
MID VALLEY STATE BANK
WESLACO
WEST BANK ANO TRUST
WEST
FIRST CAPITOL BANK
WE ST COLUMBIA
JETERO BANK
WESTFIELD
SECU~ITY SANK AND TRUST CO WHARTON
WHARTON BANK ANO TRUST CO
WHARTON
WHITE OAK STATE BANK
WHITE OAK
PARKER SQUARE STATE BAN~
WICHITA FALLS
TX BK & lR CO IN WICHITA FLSWICHITA FALLS
ALLIED GULF COAST BANK
WINNIE
WINTERS STATE BANK
WINTERS
A>I BK OF CMRC AT WOLFFORTH WOLFFORTH
316 BANKS AFFECTED IN STATE
----------------
1/17179
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
175
128
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
111
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121
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33921
24663
37433
27049
27073
24150
38155
15746
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18790
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20678
18017
16617
620
225
600
268
198
271
563
289
853
684
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685
546
357
792
131
1977
REQBAL
0
0
0
0
0
0
0
0
151
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0
348
0
0
0
1162
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0
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0
0
0
0
0
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0
0
452
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369
223
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292
202
426
395
364
360
l08
480
332
283
212
0
0
184
141
NEW
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0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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0
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0
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0
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768
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0
0
0
0
0
0
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131-151
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-------------
BANK OF AMERICAN FORK
AMERICAN FORK
UTAH BANK ANO TRUST
BOUNTIFUL
SOX ELDER COUNTY BANK
BRIGHAM CITY
ST ATE BANK OF SOUTHERN UTAH CEDAR C ITV
CLEARFIELD STATE BANK
CLEARFIELD
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Federal Reserve Bank of St. Louis
NGN~EMBER BANKS
Ill
NAME
DSB
12490210
12490280
12490310
l241l0360
12490390
12490413
124Q048 5
12490530
OF
MILFORD STATE BANK
co~~ERC IAL SECUR ITV BANK
BANK OF PLEASANT GROVE
RICHFIELD COMMRCL SVGS BK
FIRST STATE BANK OF SALINA
Fl~ST SECU~ITY STATE BANK
co~ SECRTY BANK OF SALT LK
CENTRAL BANK & TRUST CO
LOCATION
15 BANKS AFFECTED IN STATE
OF
GRA~ITE SAVINGS BK G TR CO
BELLOWS FALLS TRUST COMPANY
FIRST VERMONT BK & TR CO
CHITTENDEN TRUST CCMPANY
H0WAP.0 BANK
MERCHA~T S BANK
STERLING TRUST COMPANY
LY~QONV ILLE SVGS BK & TR co
UNION BANK
PROCTOR TRUST COHPANY
FP.AN<LIN-llH0ILLE BANK
PEOPLES TR CO OF ST ALBANS
CITIZENS SVGS BK & TR CO
INTER STATE TRUST COMPANY
TDEP
MILFORD
OGDEN
PLEASANT GROVE
RICHFIELD
SALINA
SALT LAKE C ITV
SALT LAKE COUNTY
SPRINGVILLE
10
4
UT
UT
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UT
UT
UT
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15350
314918
25626
18646
39179
66461
18521
48078
121
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2'•5
2245
394
151
539
532
210
396
141
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1977
NEW
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EPA
14 BANKS AFFECTED IN STATE
5
161
DIF
131-151
0
0
0
0
0
5183
0
0
0
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0
819
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574
7218
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0
0
0
0
0
0
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HAVE NO REQURED RESERVE BALANCE
BARRE
BELLOWS FALLS
BRA TTLE BORD
BURLINGTON
BURLINGTON
BURLINGTON
JOHNSON
LYN0CNV ILLE
H0RRI SVILLE
PROCTOR
ST ALBANS
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-----
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HAVE NO REQURE0 RESERVE BALANCE
---------------
-----------------------5510021
5510050
5510178
s5101g1
5510470
5510430
5510520
5510536
151
NEW
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-------------------------------
-------------------------1500020
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1500360
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BAl'IK CF VA/EASTFRN SHORE
ACCOMACK CTY
BUR~E & HERBERT BK ANO TR COALEXAN0RIA
FIRST VIRGINIA BK OF AUGUSTAAUGUSTA CTY
PLA"ITERS BANK t TR CO OF VA AUGUSTA COUNTY
BANK OF SOUTHS I0E VIRGINIA CAR SON
FIDELITY AM BK CHARLTTSVLL CHARLOTTESVILLE
BA ~K OF CHATHAM
CHATHAM
PEOPLES BANK OF CHESAPEAKE CHESAPEAKE
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Vl
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25987
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
"□ N-EHSER
OSB
5510537
5510650
5510660
5510760
5510915
5510860
55IOSJO
55lc)<J35
5510943
5510"55
5511030
5511141
5511210
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5511250
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5511465
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5511900
5511910
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5511980
5512070
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5512103
5512105
5512180
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5512325
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5512444
55I24S9
5512600
5512650
5512195
5512030
5512870
5512890
5512'125
5512930
5Sl30Jl
BANKS
1/17/1?
BENEFIT TO BANKS COVERED BY HOOIF IED H.R. 7
NAME
Ill
TDEP
LOCATION
BAllK OF CHESTERFIElO
CHSTRFLO CRT HSE
BA,iK OF WESTMORELAND
COLONIAL BEACH
SSUTHAMPTO~ COUNTY BANK
COURTLAND
SAN~ CF OASASCUS INC
OAS.ASCUS
VIRGl~IA BANK AND TRUST
DANVILLE
EASTVILLE '4~K
EASTVILLE
PfOPLES TRUST BANK
EX SORE
GtJ-IP~•,ry BANK & TRUST co
FAIRFAX
BA',< OF VIRGINIA-POTO/IAC
FAIRFAX CTY
PEO•lES BA~K OF STAFFOR~
FALMOUTH
BANK OF FLOYD
FLOYD
BANK OF VIRGHUA-WARRE~
FRONT RCVAL
U~I TED VA BANK OF GLOUCESTERGLOUCESTER
BANK CF GOOCHLAND
GOOC~LANO
UTD VA BK I PPL CF GRET>IA
GRETNA
CUMSERLAND BANK AND TRUST
GRUNDY
ARLISGTCN TRUST CO INC
HER NOON
PEOPLES BANK INC
HONAKER
STATE BANK OF KEYSVILLE
KEYSVILLE
CLARENDON BA~K & TRUST
MCLEAN
BANK OF MARION
MARION
BANK CF MONTROSS
MONTROSS
FIDELITY AM BK HAMPTON ROS NEWPORT NEWS
UIIITEO YA BK / CITZ & HARINENEWPORT >IEWS
SANK OF VIRGINIA-EASTERN
>IORFOLK
FIR~T VA BANK OF TIDEWATER NORFOLK
F IOELITY AH BK EASTERN SHOREPA~K·SLEY
LEE BANK ANO TRUST CO
PENNINGTON GAP
BA~K OF VIRGINIA-PETERSBURG PETERSBURG
CITY SVGS BANK & TRUST CO
PET'ERS~URG
CITIZENS TRUST DANK
PORTSMOUTH
PEOPLES BANK OF POUND
POUND
BANK OF PCWHATAN
POWHATAN
CLINC>I VALLEY BANK & TR CO RICHLANDS
CONSOLIDATED BANK ANO TRUST R ICUMONO
BANK OF Vl~GINIA-SOUTHWEST ROANOKE
UNITED VA BK/ SPOTSWOOD
ROCKINGHAH CTY
SANK Of S'4ITHFIEt0
SMllHFIELO
SPEEDWELL
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TI/IBERVILLE
BANK OF HIOOLESEX
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FIDELITY All BK VA BEACH
VIRGINIA BEACH
BANK OF SUSSEX ANO SURRY
WAKEFIELD
BANK OF WEST POINT
WEST POINT
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VA
VA
VA
VA
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35122
27260
21893
124095
262670
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234720
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44636
18965
23577
20632
16724
24317
33268
57365
18631
17085
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VA
VA
VA
VA
VA
VA
VA
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134299
240911
147284
15847
38880
41031
32284
65882
15815
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28207
26528
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542
1466
469
254
414
249
244
761
4931
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0
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Federal Reserve Bank of St. Louis
NON~EHBER BANKS
BENEFIT TO BANKS COVERED BY HODIFIED H.R. 7
NAME
OSB
111
TOEP
LOUTION
1/17/79
121
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131
1977
REQBAL
5511010
5513060
5513090
5513098
OF
CITIZENS ANO FARMERS BANK
CCHHERCIAL ANO SAVINGS BANK
FAR,~ERS BANK
FIRST STATE BANK OF WISE
WEST POINT
WINCHESTER
WINDSOR
WISE
58 BANKS AFFECTED IN STATE
36
17
YA
VA
YA
VA
32915
57671
19227
32596
23"
1204
129
2B3
0
0
0
0
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NEW
EPA
151
NEW
REQBAL
1"7
239
0
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DIF
131-151
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
676
0
0
0
0
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0
0
0
0
0
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221
0
0
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0
0
0
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0
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0
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0
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-221
0
0
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11
•
••
•
HAVE NO EARNINGS PARTICIPATION ACCOUNJ OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
---------------12530055
12530120
12530140
12530165
12530215
12530305
12~30308
125.!0310
12510180
l 2S 30 39 5
12530540
1253~544
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12530eZ3
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12531070
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NORTIIWESTERN COMMERCIAL BK
CASHMERE YULEY BANK
SECURITY STATE BANK
VALLE~ COMMERCIAL BANK
WHIOBEY ISLAND BANK
SECURITY BANK OF WASH
BA:lK OF EVERETT
Ql Y:-tPIC 8A'IK
SAN JUAN COUNTY BANK
PENINSULA ST ATE BANK
PEOPLES STATE BANK
CITY BANK
SKAGIT STATE BANK
BA~K OF OLYMPIA
HIC VALLEY BANK
KITSAP COU~TY BANK
BALLARD BANK OF WASHINGTO!f
cc~~ERC IAL OK OF SEATTLE
AMERICAN COMMERCIAL BANK
WASHINGTON TRUST BANK
NORTH PACIFIC BANK
TACOMA COMMERCIAL BANK
FIRST INDEPENDENT BANK
8ELLINGHAH
CASHMERE
CHEHALIS
CLARKSTON
COUPEVILLE
EPH~AU
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FR IOAY HARBOR
GIG HARBOR
LYNDEN
LYNNWOOD
MOUNT VERNON
OLYMPIA
OHAK
POR J' ORCHARD
SEATTLE
SEATTLE
SPOKANE
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23 SANKS AFFECTED IN STATE
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36810
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247
616
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1164
2235
278
144
297
222
575
959
281
8"7
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208
730
2195
472
334
3484
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HAVE NO RE'1UREO RESERVE BALANCE
----------------
-----------5540040 FIRST STATE BANK
5540050 BANK OF RALEIGH
5540065 CARDINAL STATE BANK
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!'IO!'IIIEMSER BANKS
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5540!10
5540135
554~140
5540160
5540,10
554022 5
55'1-0270
5540~JO
554J330
5540340
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5540510
5540530
5540570
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5540660
5540680
5540725
5540765
5540810
5540870
5540920
4540<;160
5540970
4541010
5541015
5541040
5541050
5541051
5541055
55·H090
5,41130
5541185
5541192
554!195
5541230
5541245
5541370
5541315
5541450
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NAME
111
TDEP
LOCATION
COM~ERC IAL BANK
PEOPLES BANK
B• IOGEPORT BANK
AOR IAN BUCKf'ANNON BANK
FIRST BANK OF CEREDO
BANK OF WEST VIRGINIA
BANK OF CHARLES TOWN
lC'WNDES BANK
CUY COU!'ITY BANK
F •RsERS & CITIZENS ST BK
BANK CF CROSS LANES
BANK OF DANV lllE
Bl~~K OF OurWAR
DAVIS TRUST CO
PENDLETON COUNTY BANK
GILBERT BANK AND TRUST co
BlUEF IELO
BLUE WELL
BR IOGEPORT
BUCKHANNON
CEREDO
CHARLESTON
CHARLES TOWN
ClAR<SBURG
CLAY
CLENDENIN
c~oss LANES
DANVILLE
DUNBAR
ELK I NS
FRANKLIN
GILBERT
KA~AW~A UNIO~ BA~K
GLENVILLE
CAl~OUN COUNTY BANK
GRANTSVILLE
UNION BK OF HARRISVILLE
HAR.ISVlllE
SECURITY BK OF HUNTINGTON
HUNTINGTON
TWENTIETH STREET BANK
HUNTINGTON
BANK OF IAEGER
IA EGER
FAR•ERS & HE.CHANTS BK
KEYSER
LOGAN
LOGAN BANK AND TRUST CO
BANK CF HAN
MAN
.SERCHANTS AND FARMERS BANK MARTINSBURG
BANK OF MIL TON
Mil TON
FARaERS AND MERCHANTS BANK MORGANTOWN
MERCANTILE BANKING & TR CO MOUNOSVlllE
SANK CF MOUNT HOPE
MOUNT HOPE
,Ew HAST INS VILLE BANK
NEW MART INSVlllE
e•NK OF NITRO
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NEW RIVER BANKING AND TRUST OAK Hill
PARKERSBURG
CMRC e•NKING & TRUST CO
COSSNTY BK OF PARKERSBURG
PARKERSBURG
PARKERSBURG
HOUSTAIN STATE BANK
WOOD COUNTY BANK
PARKERSBURG
GRO'IT COUNTY BANK
PETERSBURG
CASTLE ROCK BK OF PINEVILLE P INEV lllE
PEOPLES Se OF PT PLEASANT
POINT PLEASANT
PR I NC ETON
MERCER COU~TY BANK
RAVENSWOOD
JACKSCN COUNTY BANK
PEO?LES BK OF RICHWOOD
R ICHWOOO
B•NK OF SHINNSTON
SHINNSTON
CHE•ICAl BANK AND TRUST
SOUTH CHARLESTON
Ill CHOL AS COUNTY B~NK
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1056
744
665
240
509
756
691
163
684
573
327
460
337
699
220
229
568
705
392
131
1977
REOBAL
0
0
0
0
0
0
0
0
0
0
0
141
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EPA
0
0
0
0
159
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BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
111
TDEP
LOCATION
(21
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Federal Reserve Bank of St. Louis
(41
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0
5541540 WAYNE COUNTY BA~K
WAYNE
45"1'15~0 8A'lK OF WEIRTON
WEIRTON
4541563 CITIZENS BK OF WEIRTON
WEIRTON
4'54 l '>65 P[OPlES BA~~K
WEIRTON
5541";)00 CITIZENS BANK
WEST ON
5541615 WE STOVER BANK
WESTOVER
454lt:75 MORSIS PLAN BANK & TRUST CO WHEELING
WHITESVILLE
5541 735 WHITESVILLE STATE BANK
OF
57 BANKS AFFECTED IN ST ATE
45
12
WV
WV
WV
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WV
WV
WV
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23372
54039
20521
45978
30039
17687
61413
15428
348
760
378
829
387
265
947
187
(51
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0
321
0
0
0
0
357
0
0
0
0
0
0
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0
0
0
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0
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0
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755024'0
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7550385
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7550480
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7550658
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7550850
95508~0
0
0
0
0
0
0
0
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•
•
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HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
--------------------------------------------------------------------------------------------------7550015
755-J020
7550050
9550070
q;50~9O
7550130
7550160
7550163
7550167
9550210
7550222
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ABBOTSFORD STATE BANK
M&I BANK OF AOAMS-FRIENOSHIPAOAMS
ALGCMA
C0'1,~UNITY STATE BANK
ALMA
AMERICAN BANK
A~ERY
UNION ST ATE BANK
ANT IGO
PEOPLES B4NK
OUTAGAMIE BANK
APPLETON
VALLEY BANK
APPLETON
APPLETON
VALLEY NO~THERN BANK
ASHLAND
NORTHERN STATE BANK
ASHWAUBENON
" & I FOX HEIGHTS BANK
ATHENS
BANK OF ATHrnS
AUBURNDALE
AUSURNOALE STATE BANK
BARRGN
BA'.IK CF BA~RON
MA~INE BANK OF BUVER OAM
BEAVER OAH
SELOIT STATE BANK
BELOIT
BIRNAMWOOD
BA~K OF 8 IR"A~WOOO
BLACK RI VER FALLS
JAC<S0:'1 COUNTY BANK
BON OU EL
BONDUEL STATE SANK
BOSCOBEL
BOSCOSEL STA TE BANK
BPOOKF I ELO
El~ BROOK STATE BANK
s,ooKFI ELO
M!:I WEST SUBURBAN BANK
BRCWN OEER
BROWN DEER BANK
8USLI NG TON
8U,Ll%TO~ MARINE BAflK
BURLING TON
FIRST BANK & TRUST CO
CADOTT
CITIZENS STATE BA~K
CAMPBELL SPORT
Flt:tST STATE BANK
CASCO
VALLEY BA~K OF CASCO
CEOARSURG
CEJaqeuRG STATE BANK
CENTURIA
PCLK CCUNTV BANK
WI
WI
15438
19609
21476
17848
20678
23956
61222
161
280
235
204
248
487
837
WI
125418
1404
WI
24582
43625
18919
16125
15460
18185
40479
80998
13092
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14481
29669
21099
46418
29760
17843
43649
14674
17418
13356
34710
17687
242
WI
WI
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898
248
160
140
169
411
1890
109
589
106
399
129
46I
387
195
540
148
159
125
291
243
----------
0
0
0
0
0
0
0
0
115
551
0
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0
0
0
0
0
0
0
0
0
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0
0
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0
0
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0
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0
0
0
0
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776
0
0
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127
0
0
0
142
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0
0
0
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0
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0
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Federal Reserve Bank of St. Louis
~ONSEMSER BANKS
OS9
NA~E
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
111
TDEP
LOCATION
1/17/79
I 21
VLTCSH
131
1971
REOBAL
9550370
7550330
7550590
755097C
CHETEK STATE BANK
CCS.SERC I AL BANK
STATE BK OF CHILTON
CHETEK
CHILTON
CHILTON
OA.tRY~ANS STATE BANK
CLINTONVILLE
COLBY
7551020 SECURITY STATE BANK
COLOMA
75">1050 M&I PEOPLES BANK
7551060 FAR~ERS AND ~ERCHANTS UNION COLU~BUS
CROSS PLAINS
7551100 STATE BK CF CROSS PLAINS
CUOAHY
7551120 CUDAHY ·"AR I NE BANK
CUMBERLAND
9551130 NCRTHWESTERN STATE SANK
OE FOREST
7551210 OE FOREST MORRI SONVlllE BK
7551215 AMERICAN KETTLE MORAINE BK OELAF I ELD
OE LAVAN
7551220 CITIZENS BANK
DENMARK
75131250 DEN"tARK STATE BANK
OENM~RK
7551255 VALLEY. BADGER BANK
OE PERE
755l2b0 CC'4"tUN ITV BANK
OE PERE
755127C ST A TE BK OF OE PERE
DODGEVILLE
7551235 DODGEVILLE STATE BANK
OOOGEV ILLE
T55tno SlRONGS BA"iK
EAGLE RIVER
9551348 EAGLE RIVER STATE BANK
EAST TROY
7551360 SUTE BK OF EAST TROY
EAU CLAIRE
95">1375 CD"1"1UNITY STATE BANK
ELKHORN
7~51450 STATE BK OF ELKHORN
ELLSWORTH
9551470 BANK OF ELLSWORTH
FALL CREEK
9551530 STATE BANK OF FALL CREEK
T55l550 FIRST STATE BK IN FENNIMORE FENNIMORE
FOSO OU LAC
7551575 M1E~ICAN 8A~~K
FOPT ATKINSON
7~51620 CITIZENS STATE BANK
FORT ATKINSON
755161:0 FIRST AME~ICAN BK & TR co
FREDERICK
9551690 FA-=-!"1ERS STATE BANK
GERP.ANTCWN
7551770 GERMANTOWN MARINE SANK
GILLETT
75517-30 GILLETT STATE eANK
GRAFTON
7551840 GRAFTCN STATE BA:'IIK
GRANTSBURG
qss1stto FIRST BK CF GRANTSBURG
GREEN BAY
7551q95 FIRST WI BK OF GREEN BAY
GREEN BAY
7551~10 PPL MRN BK OF GREEN BAY
GREEN BAY
7551915 UNIVERSITY ?ANK
GREEN BAY
7551920 WEST BANK ANO TRUST
GREENFIELD
7551935 M&I BANK OF GREENFIELD
GREEN VALLEY
7551960 STATE BK OF GREEN VALLEY
7551970 FAR•ERS AND MERCHANTS BANK GREENWOOD
HALES CCRNERS
7551990 STATE BANK HALES CORNERS
HAR TFORO
7552020 VALLEY BANK OF HARTFORD
IXONIA
7$521!30 I XCNIA STATE BANK
JASESVILLE
7552195 BANK OF JANESVILLE
JANESVILLE
7552210 MERCHANTS ANO SAVINGS BANK
WI
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13495
18787
22884
22981
22509
30387
20480
15455
52967
22502
15184
28052
22976
25369
15335
23769
41222
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20651
19675
19762
23176
26089
32479
22799
21577
20312
20533
26263
17310
17565
36888
35714
42668
51565
130391
34489
112589
23907
13840
14264
51837
27378
14133
24784
84058
164
145
111
298
224
335
216
151
660
245
221
359
143
578
180
144
451
183
113
295
500
241
285
424
154
280
265
504
197
215
208
691
326
363
581
1084
636
1551
458
148
95
1126
388
138
560
1091
0
141
NEW
EPA
0
0
17
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
127
0
0
53
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0
247
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80
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87
164
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69
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151
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0
0
0
0
0
0
0
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0
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Ill
161
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131-151
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270
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Federal Reserve Bank of St. Louis
srnEF IT TO BANKS COVERED BY HOOIF IEO H.R. 7
NO~SEMSER BANKS
NAME
lOCHION
7552230 ROCK COUNTY SAVINGS ANO TR
JANES VI llE
JEFFERSON
JEFFERSON
KAUKAUNA
KAUKAUNA
KENOSHA
KEWASKUM
KEWAUNEE
KEwAUNEE
lA CROSSE
LA CROSSE
LA CROSSE
LADY SM I TH
OSB
7552240 FAR"IERS ANO MERCHANTS BANK
755 2250 JEFFERSON COUNTY BANK
7552300 BA:-JK OF KAUKAUNA
755£?10 FAR SERS AND ,SER CHANTS BANK
75S2325 A•E~ICAN STATE BANK
75'52360 VAllEY BAN<
755237C STATE BK OF KEWAUNEE
75"i238C
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9552435
9552'#40
9552470
9552490
7552530
7552540
7552550
75~2600
7552620
755264 C'
9552650
7552660
7552638
7552700
755 2710
7552727
7552140
7552750
7552755
CQUlEE STATE BANK
ST AT!:
EXUIA'lGE
BANK
STATE BA.\/K
STATE BK OF LA CROSSE
SECU~ITY STATE SANK
GREE~WOODS STATE BANK
LAUCASTER STATE BANK
UNION STATE BANK
BA~K CF LITTLE CHUTE
ST ATE 9K OF LOOI
CITIZE'lS STATE BANK
FIDELITY STATE BANK
lAKEMILLS
LANCASTER
LANCASTER
LITTLE CHUTE
LOOI
LOYAL
LUCK
LUXEMBURG
BANK Of LUXEMBURG
MADI SON
AFFILIATED BK OF HILLDAlE
MAOI SON
AFFILIATED BK OF MADISON
co~~ERC I AL s TATE BANI(
MADI SON
LAKE C ITV BANK
MADI SON
MADI SON
RA.~DAll STATE BANK
MAO! SON
SEC~TV MRNE BK OF MADISON
UNITED BANK & TR OF MADISON MADISON
MAO! SON
75527&5 UNITED BANK OF WESTGATE
MANAWA
755?HO FAR."ERS STATE BANK
MANITOWOC
7552825 MAN I TOWOC COUNTY BANK
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7552850 MARATHON STATE BANK
7552870 FAR•ERS & MRCH BANK & TRUST MARINETTE
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7552930 CENTRAL STATE BANK
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7553110 8AllK OF MIDDLETON
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168
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181
279
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222
215
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0
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0
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0
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7553290 MITCHELL STREET STATE BANK MILWAUKEE
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7553340 WISCONSIN HARl~E BANK
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7553350 FAR~ERS SAVING$ BANK
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95533b0 SECURITY STATE BANK
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7553385 MONJ~l GROVE STATE BANK
MOIIONA
7~53390 CG~~ERCIAl AIID SAVINGS BANK MONROE
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7553520 NEILLSVILLE BANK
7553530 NEKCOSA PORT EDWARDS ST BK NEKOOSA
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75535'30 BA~.,ii:, OF NEW GLARUS
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7553590 M&I NEW HOLSTEIN BA~K
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NEW LISBON
7553610 FIRST STATE BANK
NEW LONDON
9553i?O BANK OF NEW RICHMOND
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7553710 BANK CF OCONOMOWOC
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7553740 WINNEBAGO COUNTY BANK
CHRO
9553745 SAIIK OF ONALASKA
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755H60 OOSTBURG STATE BANK
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7553770 BANK CF OREGC!'I
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7553823 VALLEY BANK OF OSHKOSH
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7553e25 WESTERN STAIE BANK
9553930 BANK CF CSSEO
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7553sgo PESHTIGO STATE BANK
7553890 WAUKESHA COUNTY MARINE BANK PEWAUKEE
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9553910 STATE BK OF PHILLIPS
PLATTEVILLE
1553950 MOUND CITY BANK
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224
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0
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0
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0
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BANK OF ELSWOOO
FlR~ERS ANO MERCHANTS BANK
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FAR ._,EllS ANO ~ERCHANTS BANK
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MGI RIPON STATE BANK
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RIVER VALLEY STATE BANK
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HHE~CITY STATE BANK
VALLEY BANK OF SEYMOUR
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CITIZENS NORTH SIDE BANK
SOUTH WEST STATE BANK
SHELL LAKE STATE BANK
rrnRTH SHORE BANK
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SCUTH MILWAUKEE MARINE BANK
FIR ST BANK OF SPARTA
BA'" OF SPOONER
BANK CF SPRING GREEN
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0
0
0
0
,169
15
2,2
0
0
0
0
0
0
71
0
1016
0
196
0
0
0
·o
HAVE NO EARNINGS PARTICIPATION ACCOUNT DA REQUIRED RESERVE BALANCE
HAYE NO REQURED RESERVE BALANCE
0
0
0
0
0
0
0
0
0
.•
.•••
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NO'II NSUREO BANKS
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
NAHE
DSB
LOCATION
10080297 ROCKY HT l'IDUSTRIAL BK
CDLCRADO SPRINGS
1008101-2 GOVERNMENT EMPLOYEES IND BK LAKEWOOD
OF
2 BANKS AFFECTED IN STATE
0
1
co
co
1/17/19
111
TDEP
C2I
VL TCSH
13277
58690
I
1
C31
1977
REQBAL
0
0
'"
NEW
EPA
87
1250
CSI
NEW
RE06AL
0
271
C61
Dlf
131-151
0
-271
•
HAVE NO EARNINGS PARtlCIPATION ACCOUNT OR REQUIRED R~SERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
------------6121240 PENSACOLA LOAN A~O SAVINGS &PENSACOLA
OF
1 BANKS AFFECTED IN STATE
0
1
FL
18632
--------7171496
7171499
7171504
7171507
7171556
7171572
7171 H4
7171863
7171957
7172032
0
CHICAGO
CHICAGO
CHICAGO
CHICAGO
CHICAGO
CHICAGO
CHICAGO
CHICAGO
CHICAGO
CHICAGO
10 BANKS AFFECTED IN STATE
IL
IL
IL
IL
IL
IL
IL
IL
IL
IL
1
7
18500
17696
497570
46782
30449
90542
14581
28328
2B1BB
26727
50
63
1
15
16
13
1
127
25
1
0
0
0
0
0
0
0
0
0
0
0
0
•
BANCO 01 ROHA
BANCO DO BRASIL
BANCA COMMERCIALE ITALIANA
8ANU DEL LAVORO
BANCO DE LA NACION
BANCO DI NAPOLI NEW YORK
BANCO REAL
2364856 BANK FUR GEMEINW IRTSCHAFT
2364857 BANK HAPOALIN 8 N
167
0
1730
765
364
1265
13
126
297
324
0
0
16125
0
0
1190
0
0
0
0
0
0
-1612~
0
0
-1190
0
0
0
0
•
•
•
.••
••
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
---------------------
---------2364834
2364836
2364837
2364839
23648H
2364842
236055
155
--------------------------
BANCO 01 ROMA
BANI( LEUMI LE-ISRAEL
BANK FDR SVGS & ~DAN ASSOC
BANQUE NATIO'IALE DE PARIS
COMMERZBANK AKT
CREDIT LYONNAIS
LLOYDS BK· INTl LTD
NATIOPIAL BK OF GREECE S A
SANWA BANK
SU'IITOMO BANK LIMITED
OF
84
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQUREO RESERVE BALANCE
I
NEW
NEW
NEW
NEW
NEW
NEW
NEW
NEW
NEW
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK CITY
YORK
NY
NY
NY
NY
NY
NY
NY
NY
NY
44471
3 58345
238017
152347
1893292
95261
82294
67980
116300
83
272
15
65
19
13
119
3
181
0
0
0
0
0
.0
0
a
0
1251
5203
4127
5255
5361
1732
3896
1265
~920
0
19703
9819
2030
71204
0
0
512
263
0
-19703
-9819
-2030
-71204
0
0
-512
-263
•
••
~
i
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NDNINSURED BANKS
DS8
BENEFIT TO BANKS COVERED BY HOOIF IED H.R. 7
LOCATION
NAHE
2364892
2364896
2364940
2364963
2365032
23650H
2365?48
2365049
2365058
23652H
2365243
2365255
2365258
23~5315
2365318
2365343
2365344
2365345
2365404
2365425
2365430
2365445
2365454
2365463
2365464
2365465
236546 7
2365470
2365471
"2365473
2365535
2365536
2365539
OF
8NQ FRAN DE COM EXTERIEUR
NEW
SA,CLAYS BANK INTL
NEW
8RD~N BROS HARRIMAN & CD
NEW
CHARTERED BANK OF LONDON
NEW
COMMERZBANK AKT
NEW
CREDIT l~DUSTRIEL ET CDMHL NEW
CREDIT LYC•INAIS
NEW
CR ED ITD I TALI AND
NEW
OR ESONER SANK
NEW
HONGKONG t SHANGHAI BANK
NEW
ISRAEL DISCOUNT BANK
NEW
LLOYDS BANK INTL LTD
NEW
LONG-TERM CREDlT 8K OF JAPANNEW
MITSUBISHI BANK LTD
NEW
MITSUI BANK LTD
NEW
NATIONAL BANK OF PAKISTAN
NEW
NATL WESTMINSTER BANK
NEW
ALGEMENE BANK NEDERLAND
NEW
PHILIPPINE NATIONAL BANK
NEW
SANNA BANK L TO
NEW
SAVINGS BANKS. TRUST COMPANY NEW
STANDARD CHARTERED SANK LTD NEW
STATe BANK OF INDIA
NEW
SUMITOHA BANK LTD
NEW
SUMI TOHO TRUST & 8KG CO LTD NEW
SlllSS BANK CORPORATION
NEW
SWISS CREDIT BANK
NEW
TA IYO KOBE BANK LTD
NEW
TDKAI BANK LIMITED
NEW
TOYO TRUST t 8A,,KING CD LTD NEW
U'UDN BANK OF BAVARIA.
NEW
UNION 8AIIK OF SWITZERLAND
NEW
WESTDEUTSCHE LANDESBANK
NEW
42 BANKS AFFECTED IN STATE
5370400 CABARRUS BANK & TRUST CO
OF
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
YORK
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
111
TDEP
121
VLTCSH
62981
735438
345040
25325
653548
80558
765065
108291
260'164
204259
390497
330535
169158
147866
465447
71480
496510
666126
43735
177495
304963
183498
66218
295061
325512
1976419
234357
72710
211604
33590
193300
751900
588999
2
401
159
22
21
5
20
8
23
140
530
142
I
16
5
0
38
69
129
39
1
56
18
9
5
236
86
l
2
l
37
71
2
131
1977
REQ8Al
0
0
D
0
0
0
0
0
0
0
0
0
0
0
D
0
O·
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
141
NEW
EPA
151
NEW
REQBAL
1265
5537
5282
131
5539
1264
1741
1489
2350
4094
5058
5241
2548
2481
5289
1586
5289
1736
2529
3303
3991
1729
2900
1488
5288
1550
5270
759
3799
540
1488
1741
1741
390
46505
21628
0
28441
72
28468
1648
5093
2249
7856
8006
2716
0
25376
0
19075
22831
0
270
15480
0
0
3191
10363
61245
5173
0
2012
0
4941
30049
20842
0
11
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RE SERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
0
l
HAVE NO EARNINGS PARTICIPATION ACCOUNT DR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
CONCORD
1 BANKS AFFECTED IN STATE
1/17/79
NC
67634
1633
0
556
0
161
DIF
131-151
-390
-46505
-21628
0
-28441
-72
-28468
-1648
-5093
-2249
-7856
-8006
-2716
0
-25376
0
-19075
-22831
0
-t'1o
-15480
0
0
-3191
-10363
-61245
-5173
0
-2012
0
-4941
-30049
-20842
0
•
•
•
•
•
•
•
•
•
I
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NONI NSURED BANKS
OSB
BENEFIT TO 8-'"KS COVERED BY MODIFIED H.R. 7
NAHE
Ill
TDEP
LOCATION
1/17/79
121
VL TCSH
131
1971
REQBAL
9380090 BANK CF NORTH DAKOTA
OF
BISNARCK
1 BANKS AFFECTED IN STATE
ND
0
0
376057
589
0
141
NE~
EPA
l 51
NEW
REQBAL
5275
8516
(61
DI f
131-151
-8516
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE Nll REQUREO RESERVE BALANCE
------------------------10401036 INVESTORS TRUST COMPANY
OF
DUNCAN
I BANKS AFFECTED IN STATE
OK
0
I
11652
0
58
0
0
•
HAVE NO E4RNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE ND REQURED RESERVE BALANCE
------------------------------------------------------------------------------------1Zltl0507 BANK CF TOKYO L TO
PCRTLAND
lZ4l0510 CANADIAN IHPRL BK OF COHHRCEPDRTLAND
OF
2 BANKS AFFECTED IN STATE
DR
OR
0
1
83724
67222
33
0
160
0
1263
1330
717
-717
0
0
HAVE NO EARNINGS PARTICIPATiON ACCOUNT OR REQUIRED RESERVE BALA~CE
HAVE ND REQURED ·RES~RVE .8ALANCE
·-----------------------------------H23825 BANK CF U'IIDISBURG
3427218 TOBIAS KNOBLAUCH
OF
UNDISBURG
READING
2 BANKS AFFECTED IN STATE
2
0
PA
PA
17822
11025
204
143
0
0
0
0
0
0
0
0
0
0
•
•
HAVE ND EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE ·No REQURED RESERVE BALANCE
-------------------------------·---------------------------1440310 WASHINGTON TRUST CDHPANY
OF
WESTERLY
I BANKS AFFECTED IN STATE
RI
0
1
98809
1070
0
2058
HAVE ND EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE ·No REQURED RESERVE BALANCE
---------------------------------------------------------
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NONI NSURED BANKS
DS8
NAME
2 BANKS AFFECTED IN STATE
111
TOEP
LOCATION
12530819 BANK OF TOKYO LTD
SEATTLE
12530820 CANADIAN IHPRL BK OF COHHRCESEATTLE
OF
1/17/79
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
WA
WA
0
0
106367
llt,509
121
VL TCSH
26
151
131
1917.
REQBAL
0
0
141
NEW
EPA
151
NEW
REOBAL
1481
1835
1702
1567
HAVE ND EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
161
DIF
131-151
-1702
-1567
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
'IUT,Jll SAVlll';S BA'<KS
BENEFIT TO BUIKS COVERED BY NODIF IEO H.R. 1
111
Pt&IIE
DSB
LOCATION
20'>01 JO PEO•LU SAVIIIGS BUIK
10'>0640 SOC lfTY FO~ SAYINGS
1091060 CON~ECTICUT SAYINGS BANK
OF
BRIDGEPCRT
HARTFORD
NEIi HAVEN
3 BANKS AFFECTED Ill SUTE
3
0
3100400 WILMINGTON SVGS FUND
OF
l
soc
TDEP
CT
CT
CT
l
0
10386
2640
1192
Ill
...
i~n
Jl.(W'
REQUL
EPA
0
0
0
lel
Bl
MW
Al,f'AL
0
0
0
0
i.JU
131-1 ~I
.•
0
0
0
0
0
0
•
0
0
0
0
••
0
0
0
0
0
0
0
0
0
0
0
0
0
0
•
HAVE NO EARNINGS PARTICIPATIO'I ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
WILMINGTON
BANKS ~FF!CTEO IN STATE
1512241
1329MB
6J4065
Ill
VL TCSH
1/11119
DE
644874
2114
0
0
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
-----------------5240220 PROVIDENT SAVINGS BANK
5240260 SAVIIIGS BANK OF BALTIMORE
OF
1250255
1250300
1250410
1250520
1250510
1250585
1252390
1252470
1252730
1253150
1253761
1253770
OF
HD
BALTIMORE
BALTIMORE
2 BANKS AFFECTED IN STATE
2
0
MD
12
0
4519
2639
0
0
0
0
HAVE NO EARNINGS PARTICJPAT ION ACCOUNT OR REQUIRED. RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
BOSTON FIVE CENTS SVGS BK
BOSTON
CHARLESTCWN SAVINGS BANK
BOSTON
HOME SAVl!r.S BANK
eosroN
PROVIDENT INSTITUTN FOR SVGSBOSTON
SUFFOLK FRANKll N SVCS BK
BOSTON
UHl:IN WARREN SAVINGS BANK
BOSTON
HEW BEDFORJ FIVE CNT SVG !K NEW BEDFORD
HUTUAL BANK FOR SAVINGS
NEWT~N CENTER
BERKSHIRE COUNTY SAVINGS BK PITTSFIELD
SPRINGFIELD INST FOR SVNGS SPR lliGFlELO
WORCESTER
PEOPLES SAVINGS BANK
WORCESTER CTY INST FDR SVGS WORCESTER
l2 8ANI\S AFFECTED IN STATE
522488
687954
MA
HA
MA
MA
HA
HA
MA
HA
MA
MA
HA
MA
906389
733060
372009
957060
594447
403781
21093B
459152
140712
504602
314062
31JIB27
2788
1483
486
1649
1256
802
1297
1430
552
4508
1418
1256
0
0
o·
Q
0
0
0
D
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
••
•••
•
•••
••
•
HAVE NO EARH INGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQIIRED RESERVE BALANCE
-------------
~
Co¢
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MUTUAL SAVINGS BANKS
111
NAME
DSB
2341550
2341570
23"2030
2342170
OF
LOCATION
HUDSON ClTY SAVINGS BANK
PROVIDENT SAVINGS BANK
MORRIS COUNTY SAVINGS BANK
HOWARD SAVINGS BANK
1117/79
BENEFIT TO BANKS COVERED BY MODIFIED H.R. 7
JERSEY CITY
JERSEY C ITV
MORRISTOWN
NEWARK
4 BANKS AFFECTED IN STATE
4
0
NJ
NJ
NJ
NJ
TDEP
I 21
VL TCSH
810861
55.8485
557322
2028089
5233
3290
3154
8128
131
1977
REQBAL
0
0
0
0
OF
DOLLAR SAVINGS BANK OF NY
BROOKLY~ SAVINGS BANK
DIME SAVINGS BK OF flEW YORK
EAST NEW YORK SAVINGS UNK
LINCOLN SAVl"IGS BANK
METROPOLITAN SAVINGS BANK
BUFFALO SAYINGS BANK
ERIE SAVINGS BANK
WESTERN NEW YORK SAVIN:1S BK
LONG ISLAND SAVINGS BANK
BOWERY SAVINGS BANK
ORY DOCK SAVINGS BANK
EHIG~ANT SAVINGS BANK
FRANKLIN SAVINGS BANK OF NY
GREENWICH SAVINGS BANK
MANHATTAN SAVINGS 8A>IK
NE~ YURK BANK FOR SAVl~GS
RIDGEWOOD SAVINGS BANK
0
0
0
0
0
0
0
0
161
DIF
131-151
0
0
0
0
•
•
•
---------------------
BRONX
BROOKLYN
BROCKLYN
BROOKLYN,
BROOKLYN
BROOKLYN
BUFFALO
BUFFALO
BUFFALO
LONG I SL AND CITY
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
NEW YORK
RIDGEWOOD
18 BANKS· AFFECTED IN STATE
151
NEW
REQBAL
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RESERVE BALANCE
----------------2360870
236oqso
23610,0
2361030
2361150
2361172
2361260
2361270
2361330
23~4070
2364910
2365060
23650~0
2365161
2365190
2365280
2365350
2366560
141
NEW
EPA
18
0
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
2401612
1302369
4065991
891760
1809529
1167089
1938340
1598606
738823
965216
4532585
2250525
2303071
144H78
2046128
1972182
3323104
880747
4402
3502
5517
2858
5908
3735
6173
3931
4262
3513
H49
5103
3848
4009
2799
3633
4190
3017
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
C
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
..
•
•
•
.•••
..
•
•
•
•
•
•
•
HAVE NO EARNINGS PARTICIPATION ACCOUNT OR REQUIRED RESERVE BALANCE
HAVE NO REQURED RES EAVE BALANCE
----------------
l8
is.
295
Attactn.nt B
~•
These amendments provide an exclusion from reserve requirements
of up to $10 million for transaction deposits of depository institutions
and an exclusion up to $10 million for time and savings deposits of
banks.
An
institution's transaction deposits in excess of $10 million
but not more than $50 million, and a bank's total time and savings
deposits in excess of $10 million but not more than $50 million are
exempted from reserve requirements. Reserve requirements will be imposed
on a depository institution's transaction deposits that exceed $50
million and a conmercial bank's total time and savings deposits that
exceed $50 million.
A depository institution will maintain in an Earnings
Participation Account at the Federal Reserve Bank (or passed through
to the Federal Reserve by another institution) an amount resulting
from first, multiplying the appropriate reserve ratios in effect for
each deposit category by the level of the institution's exempted deposits
for each deposit category and, second, deducting from this figure the
amount by which the institution's vault cash exceeds its reserve requirements.
The institution's Earnings Participation Account will earn interest
at a rate equal to the average return earned on the Federal Reserve's
securities portfolio.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
296
Section l(al is amended by striking subparagraph (Bl and
inserting in lieu thereof the following:
"(Bl A reference to net deposits of any given category
in any given institution refers to the amount
of reservable deposits of that category maintained
by the institution.•
Section 3 (al is further amended by adding after subparagraph
(Ll on page 5 the following:
"(Ml The term "Category A excluded deposits• means, with respect
to any depository institution, the amount of its Category A
deposits that does not exceed $10 million.
"(Nl The terms "Category B, C and D excluded deposits• mean with
respect to any bank, the amounts of its Category B, c, and D
deposits that do not exceed $10 million, so long as the total
of its Category B,
c,
and D deposits do not exceed $10 million.
If the total Category B, c, and D deposits of the bank exceeds
$10 million, the amount of its Category B, c, and D deposits
that shall be excluded deposits shall be determined by multiplying
$10 million by the proportion that the bank's deposits in
the respective categories bear to the total of its deposits
in the three categories.
"(01 The term "Category A exempted deposits• means, with respect
to any depository institution, the amount of its Category
A deposits that are in excess of $10 million but not more
than $50 million.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
297
"IP) The terllS •category B, c, and D exempted deposits• mean with
respect to any bank, the amount of its Category B, c, and
D deposits that are in excessof $10 million but not more
than $50 million, so long as the total category B, C, and D
deposits of the bank do not exceed $50 million.
Category B,
c,
If the total
~nd D deposits of a bank exceeds $50 million,
the amount of its category B,
c,
and D deposits that shall
be exempted deposits shall be determined by multiplying $50
million by the frcportion that the bank's deposits in the
respective categories bear to the total of its deposits in
the three categories.
"IQ) The term •reservable deposits• means the Category A, B,
c,
or D deposits of a depository institution that exceed its
total excluded and exempted deposits for each deposit category.•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
298
Section 3(a) is amended by striking paragraphs (2), (3), and
(4) on pages 5, 6, and 7 respectively and inserting in lieu thereof
the following:
"(2) EARNINGS PARTICIPATION ACCOUNT--A depository institution shall
maintain in an Earnings Participation Account at the Federal
Reserve Bank of which it is a member or at which it maintains
an account a balance determined first, by multiplying the
amount of its Category A, B,
c,
and D exempted deposits by
the reserve ratios in effect for its Category A, B,
c,
and
D deposits, respectively, and, second, by deducting therefrom
any amount by which the depository institution's holdings
of vault cash exceeds its reserve requirements on its reservable
deposits.
"(3) PASS THROUGH OF BALAIICES--A nonmember institution may maintain
balances at a member or nonmember institution that maintains
reserve balances at a Federal Reserve Bank or at a Federal
Home Loan Bank, but only if such institution or Federal Home
Loan Bank maintains such funds in the form of balances in
a Federal Reserve Bank of which it is a member or at which
it maintains an account.
Such balances shall not be regarded
as deposits of the intermediary institution for purposes of
determining reserve requirements imposed by this Section and
Federal deposit insurance assessment.
"(4) EARNINGS PARTICIPATION RATE--The Earnings Participation Account
of a depository institution shall earn interest at a rate
equal to the average rate earned on the securities portfolio
of the Federal Reserve System during the calendar quarter
i1D111ediately preceding the .interest payment date.
The Board
is authorized to adopt rules and regulations relating to the
issuance and administration of Earnings Participation Accounts.•
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Attachment C
Section J(a) is further -nded by adding the following subparagraph at the end thereof:
"(R)
In the case of affiliated depository institutions the
total excluded and exempted deposits shall not exceed in the aggregate
for such affiliated groups the product resulting from multiplying the
number of institutions in such affiliated group on August 1, 1978 by
$10 million for each category of excluded deposits and by $40 million
for each category of exempted deposits, provided that no more than $10
million shall be excluded deposits under each deposit category and no
more than $40 million shall be exempted deposits under each deposit
category at any individual depository institution.•
~•
This -ndment limits the total amount of deposit exclusions
and exemptions for affiliated institutions to the amount of the deposit
exclusion and exemption times the number of affiliated institutions
in existence on August 1, 1978.
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Attaclaent D
Section 2, paragraph (2), subparagraph (A) is amended to
read as follows:
•(A) directly to the Board in the case of member banks and,
for all deposit liabilities, in the case of other depository institutions
maintaining deposits specified in sections 19(b) (1) (A) through 19(b)(l)(D)
of this Act, and•
~•
This amendment clarifies that depository institutions with
transactions deposits will file reports on all deposit liabilities
directly with the Board.
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Attachment B
Section 3 is amended by adding at the end thereof the following
subsections:
"(cl The first paragraph of section 13 of the Federal
Reserve Act (12 u.s.c. 342) is amended as follows:
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Federal Reserve Bank of St. Louis
(11
by inserting after the words "member banks"
the words •or other depository institutions•.
(2)
by inserting after the words •payable upon
presentation• the first and third times they appear,
the words •or other items, including negotiable orders
of withdrawal or share drafts•.
(31
by inserting after the words •payable upon
presentation within its district,• the words •or other
items, including negotiable orders of withdrawal or share
drafts•.
(41
by inserting after the words "no..-mber bank
or trust company,• wherever they appear the words •or
other depository institution•.
302
(51
by inserting after the words •n~mber bank"
after the second colon the words •or other depository
institution•.
(di
The thirteenth paragraph of section 16 of the Federal
u.s.c.
Reserve Act (12
(11
360) is amended as follows:
by striking out·the words "aember banks" wherever
they appear and inserting in lieu thereof "depository
institutions•.
(21
by striking out the words "member bank" wherever
they appear and inserting in lieu thereof "depository
institution•.
(31
by inserting after "checks" wherever it appears
the words •and other items, including negotiable orders
of withdrawal and share drafts•.
(el
The fourteenth paragraph of section 16 of the Federal
Reserve Act (12
u.s.c.
248(0) is amended by striking out "its
member banks" and inserting in lieu thereof "depository institutions•.
Comment:
In order to assure equal treatment for all depository instituions.•
thes~ amendements conform various sections of the Federal Reserve Act relating
to clearing facilities by eliminating the distinctions drawn by the Act
between member and nonmember depository institutions.
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Chairman REuss. Thank you, Chairman Miller, for a very able
and helpful statement. We will now examine under the 5-minute
rule, and let me first call upon the ranking member, Mr. Stanton,
for not only his 5 minutes of questioning but for 5 minutes for
opening statement, plus any additional time he feels is necessary.
Mr. STANTON. Thank you, Mr. Chairman.
Chairman Miller, I wish to express my own personal thanks for
your appearance here today.
Mr. Chairman, I wish to express my appreciation for you in
holding these early hearings and fulfilling your word of last fall
that this would be the first item of business before our committee.
During the last session I supported your approach, Mr. Chairman, to this legislation. It was not my own. As you well know, I
felt, and still do, the answer to this problem lies along the line of
paying of interest on reserves. We are still faced with the problem,
and I am openminded on the subject here this afternoon, and will
continue to be, because I am convinced it is a problem. We have
only to look at the immediate past, at the banks that have left our
System in 1978, to recognize this fact. However, in the interim of
the recess, all of us had an opportunity to go home and rethink
this issue and to look at what we expect to accomplish and how we
are going about it. I think perhaps in the weeks ahead I will offer
some alternative approaches to this subject matter if only for the
purpose of maybe to show we need an additional approach than the
mandatory approach which is in H.R. 7, or in the version that the
Fed is giving us today, which has some advantages over H.R. 7.
In doing this, I do not want to foreclose the fact that having said
the problem is so immense eventually I would not support some
system of mandatory controls, but I do it most reluctantly. At the
moment, I would not do it for the simple reason we are coming to a
conclusion perhaps there is a better way to solve this basic membership question than a mandatory solution.
Chairman Miller, you have stated the issue so well that the cost,
on page 6, the inequities of cost burdens borne by member banksand it is strictly that the current regulatory structure is arbitrary
and unfair because it forces member banks to bear the full burden
of reserve requirements. You go on to say something that I have
often thought about, and you have researched, through your staff
and your people, that "among major countries in the free world,
only the United States has legislative inequities being imposed on
the commercial banking system."
You did a good job in going over the historical facts, and, if we
could go back to 1913, I think we would look at this subject of
mandatory reserve requirements and there might have been a
simple solution in hindsight. However, in the realities of today in
which we live, the inequities exist because of the reserve requirements that are required on members of the Federal Reserve
System. There is an inequity. The solution, on the one hand, is
mandatory controls. I do not like them for several different reasons. First, maybe it is the philosophical approach to the idea of
mandatory that gets me.
Second, if we have a problem on the Federal level with our
membership in the Federal Reserve System, then we can make it
competitive in other ways, and therefore I think if we want to solve
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the problem-and we all do-of the loss of membership in the
Federal Reserve System, then the easiest solution, which all the
plans I have seen so far hit upon, is to reduce the existing level of
the reserve requirements and establish reserve requirements for
each depository institution that is fair across the board. I do not
like the proposed system with an exemption period, whether $50,
$40, or $10 million-your plan, to a degree-because it is building
into the System inequities. It is pointing out a difference between
bigness and smallness. It is stating to a degree the Federal Reserve
Board primarily is going to be interested in the big banks of this
country. I think that is wrong.
I think it is wrong to treat big and small banks differently. I
think we should look for a solution within the institutions that are
now under Federal control rather than expand it to others. I go
totally against the popular opinion of my own particular Stateand I am sure the American Bankers Association, because the
chairman's bill is very good for the State of Ohio. I recognize the
difference it will make in the State of Delaware and others, and
once we get into battle with savings banks and other financial
institutions, I think we have real problems. So, what I am saying,
we probably will come up with a simple solution based upon the
original premise of which the Federal Reserve came to this committee. We are here now because over a year ago it seemed to
many wise people in this country the answer lay in payment of
interest on reserves. The question came about, do they have the
legislative authority to do it, or is there any other way to go about
it?
Mr. Chairman, I would hope we would keep an open mind on the
subject only for the exploratory purposes of getting at this particular problem, of solving the loss of membership in the Federal
Reserve System.
I think if we can lower those reserves we can, No. 2, come up
with a system of mandatory reporting requirements which we have
now that recognize not only the loss of membership but loss of
monetary control, which this Chairman of the Federal Reserve has
pointed out is necessary in order to solve some of his immediate
problems.
I think, we could come up with a payment of interest on reserves
down the road maybe 4 or 5 years, and only after all of your
services have been put into operation, to see where we stand, but I
think we need that authority to do it, to pay interest on reserves. I
think we could couple that with a one house veto if we are not
happy with it.
Our staff has come up with legislation. I want to keep to a
recommendation that would bring it in the ball park of what we
are all looking for in your bill and the Fed's cost to the Treasury.
Mine places it down the road, but we are going to work on that and
we are going to price it. I just utilized this time and that of the
committee, to point this out to everyone that we will offer an
alternative solution based on something besides mandatory requirements.
Maybe we ought to deal with it within the Fed membership,
maybe we ought to reduce those reserve requirements, make the
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305
small ones pay no more than they are paying now, lower the
reserve requirements for others and look at all possibilities.
Mr. Chairman, I have just one question. You have shown a great
desire to cooperate with this committee in finding a solution to
this. You have directed your attentions and thoughts in interviews
along with the desire to work within the framework of H.R. 7. I do
not want to put you on the spot with this. You feel, I think, like I
do, it is a political thing to do, expedient thing, to get some solution. That is what we want, some solution. But would you rule out
of your thoughts something like I have been discussing of a similar
approach if this method which we are discussing today does not
work?
Mr. MILLER. Mr. Stanton, I certainly would not rule out alternate approaches, of which there are a number. You recall that last
summer the Federal Reserve proposal was, initially, on a different
track. We were on the track of a program that would lower reserve
requirements, coupled with payment of limited interest on reserves, and charging for services. This was a solution designed to
reduce the burden of membership, and thus the attrition of membership, while preserving Treasury revenues.
It was a solution that we had come to, at that time, as the
practical step that could be taken. I would point out, though, that
even we recognize that it was not, even within the constraints of
the existing constituencies, a very permanent solution. There is
just no doubt that other new forms of financial services are going
to be growing rapidly at banks and thrift institutions and this will
continue to provide a more competitive environment. The public
and the Nation will benefit from the better financial system and
the better payments system that results. But our solution last
summer did not take account of the fact that, in due course,
institutions which are seeking new asset powers-because they
have found themselves vulnerable to the cycles of housing and
interest rates-are going to be looking like banks in 10 years. If we
do not prepare for that situation, we are going to be creating just
another problem down the road.
So, our solution was one we thought would hold the fort, but I
would remind you that every commission appointed since 1933 on
the issue of our financial structure has recommended universal
reserves as an essential ingredient in establishing a modern national financial system compatible with the strength and vitality of
this Nation.
We do not have optional currency. Mandatory sounds like a bad
word, but the Constitution gives the power to coin and regulate
money to the Congress, and we cannot overlook the fact that if
States had separate currencies we would be in disaster. So while
we do not want to preempt the continuation of an arena with all
kinds of depository institutions, it seems to me we should equalize
the playing field to the extent we can.
The problem with doing this by reducing Federal Reserve requirements or paying interest on member bank reserves to the
degree necessary is neither intellectual or philosophical; it is a
problem of money. It would cost the Treasury too much, and that is
where we always find our constraints.
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Mr. STANTON. Would you say it costs too much and not knowing
what the returns are going to be?
Mr. MILLER. It appears-Mr. STANTON. We may not do it for 5 years?
Mr. MILLER. It appears that if the price we put on Federal
Reserve services becomes too dear, then we will not collect any
offsetting revenue, because we will drive the business elsewhere. It
appears that the $410 million, estimated in 1977 dollars, is about
what the traffic will bear at the moment. We could be wrong by
$50 million, but I do not think we can be wrong by $400 million. I
do not think we could double those figures and maintain our service levels; we would dismantle Federal Reserve services.
I want to be sure I am making myself clear. We do not want to
close our minds to alternatives, and we have made our staff available to look at alternatives because we are so conscious of the need
to have a sound solution, one which brings a sense of unity and
purpose. We believe we ought to find a consensus that we can live
with and strengthen. There is no contentiousness here, only the
hope that the time has come to find a solution.
Mr. STANTON. Mr. Chairman, I thoroughly appreciate the extra
time.
Chairman REUSS. Thank you, Mr. Stanton.
Chairman Miller, suppose-and I sincerely hope this is not the
case-Congress does nothing about the subject matter of the Federal Reserve. Would, in your judgment, such failure to act on the
part of Congress render appreciably more difficult your job of
controlling the Nation's money and fighting inflation?
Mr. MILLER. Mr. Chairman, we believe that it would. We believe
that the slack in the System now-because of the degree to which
deposits are held outside the System-has made it increasingly
difficult to link up our monetary action to its effect on the growth
of the money aggregates. In this time of inflation, which is the
primary threat to our country, this inability puts us at a great
disadvantage.
The fact that there is this degree of unpredictability and variability means that we might apply too much monetary restraint to
the economy, miscalculating its result, and we might cause a
crunch that we do not need.
On the other hand, we might be deceived by that slack into
believing that everything is in very good control; we might be too
easy and find ourselves with another inflationary spiral on our
hands. It is so critical that in this decade and the years ahead we
wipe inflation out of the System once and for all, that we feel very
strongly that we do need this legislation to help us.
Chairman REUSS. You have indicated in your testimony here
substantial agreement with H.R. 7, but you have one important
addendum to it, namely, the use of your proposed earnings participation account so as to cover deposits between $10 million and $50
million. I would like now to direct a question at the importance of
the additional controls of our money supply which your addendum
would give. I think it may be helpful in this connection to refer to
the very helpful chart I-the members may wish to do this-in
your assembly which is part of your record here. As I view that
chart, under H.R. 7 about 30 percent of total bank deposits would
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307
remain outside the mandated reserve limits. According to chart I,
this would mean an absolute range of variation of 7 percent on
either side of a 2-month forecast, with a growth rate of monetary
aggregates. In other words, you forecast a 6 percent growth rate.
The range would be from 5.8 percent to 6.2 percent, which seems to
me a reasonably high degree of monetary control.
Under your proposal you would get only a slight further increase
in variability to a range of about 5.9 percent to 6.1 percent. I
mention this to ask you to confirm my reading of the chart, which
I believe is right, and then if it is right, or subject to whatever
correction you might want to make in my reading of it. Is not,
then, the effect of the Federal Reserve earnings participation account proposal one to somewhat strengthen your monetary control
but not as night and day?
Mr. MILLER. Mr. Chairman, I am just verifying this with my staff
here, and I want to give you an addendum to what you were
saying, if I may.
Chairman REUSS. Please.
Mr. MILLER. The 7-percent variability you mention can be found
on the chart, but it does not mean that if the goal for 2-month
growth of M1 is 6 percent, you take 7 percent of 6 percent; it means
you take 3½ percentage points on each side, for a range of 2½
percent to 9 ½ percent. We could fall within that range and still
have been exerc;ising what we thought was proper policy toward a
6-percent goal. So that variability is very wide indeed. In other
words, we are dealing with absolute numbers, not percents of percents.
Chairman REUSS. Would you then give us the comparison which
I was trying to do between H.R. 7, as it stands, and the Fed's
earnings participation?
Mr. MILLER. Begin at the bottom left on the chart and find the
dash that represents 6 percent of deposits not subject to reserve
requirements. You will then see that our proposal has a variability
of about 2 percent, so if we were shooting for 6 percent we might
come out between 5 and 7 percent.
If we leave the System with 30 percent of deposits outside it, as
you say, that gives a variability of about 7 percent, so if we were
shooting for 6 percent the result could be somewhere between 2½
and 9½ percent. That is a 7-percent range, while under our proposal it would be a 2-percent range.
Chairman REUSS. That is over a 2-month average?
Mr. MILLER. Yes. We correct policy each month. If things went
the wrong way, we would try to get them going back again.
Chairman REUSS. What would it be like over a year?
Mr. MILLER. If you are wrong every 2 months, even if you try to
correct, you could be compounding your mistakes for a considerable
degree of error. If you expect your errors to average out you might
narrow the error, but there still would be a very substantial gap.
Over 2- or 4-month periods, economic perceptions, investment decisions might begin to be taken that trim the economy, contrary to
what the Federal Reserve might be trying to accomplish, just because it suddenly looked like money really tightened, and then
interest rates would start shooting up and housing starts would
begin to go down. Your equation would not stand static for you.
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I want to hasten to point out that the chart shows only the
variability caused by shifts of deposits between members and nonmembers. When held by a member, deposits require reserves with
the Federal Reserve. If that deposit-or reasons of payment or
choice, or whatever-moves to a nonmember institution, suddenly
we have the same amount of deposits, but the lower required
reserves, which can cause some flux in the System.
We have some variability, in addition, from deposits that move
from checking accounts to savings accounts because these have
different reserve requirements. Deposits also might move from a
small bank, with a 7-percent reserve requirement, to a billiondollar bank, with a 16¼-percent reserve requirement. So there are
many variabilities. You can see why we feel the need, particularly,
to take this big factor of variability that comes from member/
nonmember reserve requirements and narrow it as much as we
can.
We can do that regardless of whether the institution holding
reserves with us receives earnings on those reserves or does not;
the essential thing is to have the reserve deposit for assuring the
predictability of monetary policy lever. You then have a known
fulcrum. If the fulcrum is not known, then when you put pressure
on it you don't know whether you're moving a ton or a pound at
the other end. That is the problem.
ChairmQ.n REUSS. In either case, H.R. 7, as it stands, or your
earnings participation accounts addendum, if the Federal Reserve in
this day and age does have to do fine steering and fine tuning in
·
order to get as close as it can-Mr. MILLER. We have to move more rapidly than in the past in
order to avoid overshoots. The degree to which the system is less
predictable, the more difficult it is to avoid overshoots and to tune
to affect the monetary aggregates.
Chairman REUSS. If I am not mistaken, your previous work experience was the Navy or the Coast Guard?
Mr. MILLER. Yes, the Coast Guard.
Chairman REUSS. The analogy between what the quartermaster
has to do steering a vessel, and monetary policy, is not wholly
fanciful.
Mr. MILLER. No it is not. You have a sloppy helm, sometimes,
and then it takes a lot of movement before you get a bite on the
rudder, as Mr. St Germain will tell you from his Rhode Island
sailing experience.
[Pursuant to a telephone conv~rsation with Chairman Miller the
following letter with attached table was received for inclusion in
the record:]
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BOAR □ □ F
GOVERNORS
CFTHE
FEDERAL RESERVE SYSTEM
WASHINGTON, 0. C. 20551
G. WILLIAM MILLEA
CHAIRMAN
March 16, 1979
The Honorable Henry s. Reuss
Chairman
Committee on Banking, Finance
and Urban Affairs
House of Representatives
Washington, D.c.
20515
Dear Henry:
In response to your request, I am enclosing a table showing
the number of national banks that converted to State nonmember banks
from 1950 through 1978 (left column of table). I have also included
in the table the number of State nonmember banks that converted to
national charters during these years. In the far right column, I
have provided the net conversions for each year.
The number of conversions from national to State nonmember
banks has increased sharply in the past two years. The number for
1978 (62 conversions and 59 net conversions) is by far the largest
during the 29-year period.
The Office of the Comptroller of the Currency asks each bank
for the reasons for converting from a national to a State charter.
Although banks are not required to respond, almost all of them indicate
~hat the reason is the burden of maintaining reserves at the Federal
Reserve.
The principal steps that a national bank nrust accomplish in
order to convert to a State-chartered bank are the following:
(1) unless waived by all the shareholders, the bank must
publish at least once a week for four consecutive weeks--in a
newspaper of general circulation in the place where the head
office of the bank is located--a notice of the time, place and
purpose of the shareholders' meeting to act upon the conversion
plan;
(2) at least two-thirds of the holders of each class of
its capital stock nrust vote for the. conversion;
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310
(3) the plan of conversion must be approved by a majority
of the bank's entire board of directors; and
(4) the bank must provide evidence (in the form of certified
copies) to the Comptroller of the Currency regarding the shareholder vote, the resolution of the board of directors, and the
certificate of conversion issued by the State banking authority.
The only reason for a delay in the conversion process would
be the lack of prompt action by the State authorities who must approve
the State charter. No waiting period is required by the Comptroller
of the Currency.
No notification to the Federal Reserve is required, though
in most cases national banks inform their regional Federal Reserve
Bank of their intent to withdraw from the System.
Please let me know if I can be of further assistance.
Sincerely,
Enclosure
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National Sanks
Changes in Federal Reserve System Membership Status
National to Non•
Number of Banks Converting From
Nat iona 1 to Non-member Status
Nunbcr of Banks Converting From
Non-mcmbcr to National Status
1950
member
!net conversion}
0
1951
2
-1
0
6
8
-4
1952
6
1953
4
1954
4
1955
4
:956
3
6
1957
4
2
3
-1
4
1958
-3
-3
1959
1960
6
3
-4
1961
-2
1962
6
8
1963
13
18
-5
!964
5
19
-14
1965
12
-5
1966
10
-3
1967
-2
5
1968
12
6
6
1969
27
8
19
1970
39
5
34
1971
21
1972
22
12
10
1973
21
8
13
1974
20
8
12
1975
10
8
2
1976
23
8
15
'977
43
',79
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14
38
3
59
312
Chairman REUSS. Mr. Ashley.
Mr. ASHLEY. You mentioned constituencies that you are increasingly involved with, Mr. Miller, and I am wondering as one-as all
of us are interested in our constituencies and persuading them of
our good intentions and good deeds-how do your constituents line
up with respect to H.R. 7 plus your earnings participation account
modification? Are they all squarely behind you?
Mr. MILLER. Mr. Ashley, the answer to that is that the positions
of those constituencies are evolving. Last summer when this came
up, I would say. that all the thrift institutions were opposed to this
legislation and an earlier version in its coverage of them. Of course
the original effort left them out of reserve requirements, but they
were opposed to it.
I would say that a number of them have shifted to either a
neutral position or to a reexamination. In our discussions with
them I would say I am much encouraged by their beginning to
recognize the stake they have in a sound monetary system; they
recognize that a stable and known system may be more to their
self-interest than a preferential position which cannot last.
You cannot expect Congress to allow mutual savings· banks, or
savings and loans to develop into full-line banks while commercial
banks lose position, without there being some reaction. I think it
would make more sense to sit down the rules and then let thrifts
develop accordingly.
- Organizations like the American Bankers Association, which in
their discussions last year preferred lower reserves and a more
universal system of reserves covering all kinds of deposits, are now
going through a complete evaluation process. We are going to be
meeting with them. I would say there they have a very positive
attitude about evolving a position that recognizes, from an objective view, the good this legislation would do for the banking
system.
As far as I know, many of the independent bankers have favored
this kind of legislation. Many of them, of course, have to examine
this new idea of the earnings participation account to see if that
would complicate their position of general support. I would say the
atmosphere today is one of more education, more awareness, more
appreciation, and more willingness to examine the proposal objectively. I am encouraged by it.
Mr. AsHLEY. Mr. Stanton commented on the experience of other
countries with respect to the approach taken as far as membership
affiliation, the connection between the central bank and the banking systems of various countries. That seems to be one critical
sentence quoted from page 7. The first sentence that has to be
taken into account is your sentence that, "Members are at a competitive disadvantage relative to other depository institutions."
Then you go on to say, "Among the major countries in the free
world, only in the United States has this legislative inequality been
imposed upon the commercial banking system." I think it is important to simply point that out for the record because what you are
talking about is the lack of equity in the competitive marketplace
that exists at the present time between thrifts and commercial
banks. Is that.-0ot right?
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Mr. MILLER. That is correct, and between member banks and
nonmember banks.
Mr. ASHLEY. Yes. Among the major countries of the free world,
how have they addressed this problem? I ask this because Mr.
Stanton, understandably, is interested in an approach which, in
some way, will sweeten the pot and thereby bring on, hopefully, a
voluntary correction; and I am just wondering to what extent that
is realistic. Is the experience of other countries constructive at all?
Mr. MILLER. Yes, it is. I will ask my associates to assist me. I
have a long schedule here showing the practices in other countries;
I think you would probably want, just a summary.
In general, major industrialized countries have recognized, first,
that the financial system is a national issue whose importance to
the Nation overrides local interests. And-as in this country-their
systems of money and credit are of national concern. Central banks
have, therefore, by the laws and under the regimes of those countries, been given cognizance over all banks and depository institutions.
Second, these countries have, as a general rule, reserve requirements. There are cases of countries which operate monetary policy
without reserve requirements, but in these cases the country has
moved quickly to establish reserves as the technique to stabilize
the growth of money and the availability of credit.
So the experience, unless I am overlooking something, is, in
general, that the central bank should have cognizance over all
depository institutions, and that these institutions should maintain
reserves.
Now, reserves can be maintained in the form of interest-bearing
assets, which avoids the burden of membership and addresses the
equity issue to a degree.
The trouble is if you just did that and nothing else, the decline in
Treasury revenues would be very large. While that might have
been satisfactory to do in 1913, at this stage in our fiscal situation I
don't think we can make that kind of a change without tremendous
impact. Last year, the Federal Reserve contributed $7 billion to the
Treasury, and that is significant revenue.
Chairman REUSS. Chairman Miller, you have just mentioned a
study that your staff has done on reserve requirements the whole
world over. Would that be helpful to the committee?
Mr. MILLER. I think we should file it with you, Mr. Chairman. It
shows: A universal reserve requirement in Canada, yes; France,
yes; Japan, yes; Switzerland, yes. It also gives a little detail on how
requirements are imposed.
I think it would be very helpful to your staff.
Chairman REuss. Without objection then, we will appreciate
your filing it and it being part of the record.
[Chairman Miller subsequently furnished the following table in
response to Chairman Reuss' request:]
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Ch■clr.••1
(l)
..
Maftd ■ tOl'J''l'le•r•hltf
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■ rc-rcl.tla11ka
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nun-lnt ■ r■■ t be ■ l"lfll, c ■■ h f■■■ rve1,
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■ a.:oad ■ ryr■■■ r,,.~uln•
My M
HU ■ fl■d
,,._.,r
..
Di ■ CINnt
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Kajol' N-t ■ ry P1>1lc:, lndr..-nc.'
Vlnd<#
be■t1.11& as ■■ u.
tl011■
('' ...■ r
1'11Hd to bal,I ■- p1:opo'IUO. of
llq11ld (l11t■ H ■ t-
..
•·vr•na1rk,•· ,,pcr•:lo,,a la-Jur ln1t,._nt.
--•·••r•I •""•lun" haa l•ra• rrh;
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•·,'rt-.-y naair- f"•'lulr-nta . ., ■ ot ba w ■ rlfod;
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, ..... .., 1979
='"'"-'___________ --·
, - u and Puct!1:.!!,_0_!,__Fordp ':-..!IS°'"-"''-. .
••P.
bank■'" r ■•
L":~1.:,·1~:.111
tha a.nk
of r.-anca.
l.aHrve "'l"lr-■ ta unUoN f01"
all baa.kl;
appl7 dltfana. All ruair-a held la aan•l■tat·a ■ t
••Uo ■ far ra1ldant1 and ■on•ra,1.. baarlna
flat
leqlltr-•t ■ dlffar
accor,11111 ta t711& af ••pOUt. Aho,
on llllak aaaau dlffu
•-U.-1
"-u.
..
IE!•'!!.!!"!,u
,
11 dapffU•taUrw ln1Utlltlon1 an
1llbJact tolVM ■ -b■ nk ra1ul•tot"J'
lnat~au, ■ adcaauaecrfflt
facllltta,.
,..
...
laaarve requl.--nta differ accalNI• All tHar-1 held l• 11011•lntera1t
to the alze of the bank alld tha
bHrlq f<llra.
tn• of dapoalt.
-•Credit cellln1 II -Jor lnatr.-nt (o-,,. . for
credit aapan■ lunpo.ted lorallbanka, anddtff•r
■ ccordtna to ,1 . . ot baak ■);
-•re ■alt'n ra1utr-■ta aaol- •llacouat wla.d-of
• .c .... r,LaportaiH:e.
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ta1tltt,1Uoo1
'°"•
ha••
accau.
•·CMnaaa In
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audl •a credu calU11A ■; h-v■ r, thl• ha ■ iwHr
All ltanka ara c .... nolled 117 the
a.ak of Ual7.
-•change ■
aachafl&a
Since 1975 then era un,varHl ra•
aarwaraqu1r-nuforlncrea ■••
tn dapoalt UallUltlH,
..
,
J•p•o
•r•
-■ nk ■
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~ con••p"""'aat ralati-ahfp111th
tM a.Ilk of J•P••• Noua,,er, all
- r e h l llanka a.-. controlled 117
th■-■- of J•pan.
Sllltt1&rla. .
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
llc-rctelll■ nba•Jactto
-tnlN•• coatrol.
There
■r•
hl1har HHrH raquln·
.ant ■ for lar1• etc, baab; 1-r,
fora-llarNnb.
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■ 111'1
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acc-t for ebot.,t -•lilalf of
total
11.., l•l/1 par.
c-■t of aU1tllla ltaHUU•a •t 1•
u,a of
ta tha dhcou■t rate, tl>a uaa of fotal1n
rasulatlO'I■, caplt•L c-trflh •M " - • •
uaad ocea•l-ll7.
--Ore ■ •rllat oparettona ti tile -Jar ta■ u·-nt; ••dlractcoatrolouarcredlteap,auloata,porunt;
-•ch.a1111H In th• dlacDIIOt r■ ta oftao uaad but -11
effect;
••re1ulatlon of ll■ ab f•et1n po■ ltloa occu1 ....... uy
uaad;
••charw•• 1 ■ te ■-"9 re.utr-nu rarely uaad.
blatlllf, holdtnaa of ■- aa ■ ata
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are thli prlnct,.1 llon--r ■•
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•he baa a nh.
315
Mr. STANTON. Just one quick followup to your question and Mr.
Ashley's: You spoke about how much the banks paid to the Treasury last year. Could you get some figures for the committee of, say,
over the last 5 years, of how much revenue has been lost to the
U.S. Treasury due to the attrition in the Federal Reserve membership?
Mr. MILLER. Yes, we can give you that.
[Chairman Miller subsequently furnished the following two
tables in response to Congressman Stanton's request:]
40-9l5 0 - 79 - 2l
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Estimated Loss in Trcac;urv Revenues From Attrition in Federal Reserve Membership After June 1972
(l)
(2)
Fiscal!/
Year
(4)
Member Bank
Deposits if
June 1972
Commercial
Bank
Total
(3)
Deposits 2/
Member Bank
Deposits 2/
Proportion
Maintained
($ billion)
(5)
Amount by
Which Fed
(6)
(7)
Amount by
Which Treasury
arc Lower -
Amount by
Which Fed
Earnings 41
are lower-
($ billion)
($ billion)
($ billion)
($ billion)
2.8
112
6.6
4
Security
Difference
(3) - (2)
Holdings 31
Revenues
are Lower
($ billion)
($ billion)
June 1972
553, l
434,0
434,0
1973
599.8
467,8
470,6
1974
673.8
520,2
528,7
8.5
333
22.9
15
1975
737.5
565,3
578,7
13.4
481
34.1
20
1976
776.4
583,5
609,2
25,7
853
57.8
34
1977
857.0
629,3
672,5
4~.2
1,378
91.• 0
54
!/
Fiscal years 1973 through 1976 arc June to June; Fiscal year 1977 is October to October,
V
For Fiscal years 1973 through 1976, average of June, December and June Call report figures for gross
deposits, For 1977, average of June and December of 1976 and June and December of 1977.
Column (4) times average reserve requirement against all deposits for member banks with deposits less
than $100 million in each fiscal year less average nonmember bank holdings of vault cash. Latter amount
is subtracted from average reserve requirements because even if a member bank were to withdraw from the
sYstem, it would have to maintain vault cash equal to that of an average nonmember. Since the Fed holds
sccur~ties against Federal Reserve notes, System earnings would only be reduced by the amount of reserve
ha.lances withdrawn plus excess cash held by members over and above that of nonmembers.
Column (5) times the average rate of return on System portfolio in each fiscal year,
(2/23/79)
....
~
0)
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(2/23/79)
SUPPLEMENTARY TABLE
Estimated.
Average Required
Reserve Ratio
Estimated
Estimated
Ratio of Nonmember
Average Rate of
Return on
Fiscal
Year
of Member Banks
with Total Deposits
of Less Than ~100 million
Bank Vault Cash
Holdings to Total
1973
.OSSO
• 0150
.0588
1974
· .0540
.0148
.0687
Deeosits of Nonmember Banks
System
Portfolio
....
~
1975
.0507
.0148
.0709
1976
.0478
,0146
.0678
1977
.0462
.0143
,0660
Fiscal years 1973 through 1976 are June to June; Fiscal year 1977 is October to October.
...::i
318
Mr. MILLER. Let me just mention a couple of figures that would
be interesting to you and that I think are pertinent.
Yes, we have been losing hundreds of millions of dollars from
attrition, no question. If we don't solve this problem, we can predict that attrition will continue, and I will give you my personal
view: If we don't have some solution to the problem this year,
many, many banks are just waiting to leave, and there would be a
large initial exodus and perhaps continuing attrition.
We have calculated the cost to the Treasury, considering tax
revenues and other issues and the Treasury agrees with this-of
doing nothing. Assuming that the attrition rate would be halfway
between the rate in New England with NOW accounts and the
national rate-this assumption is based on the fact that new automatic transfer accounts and other developments are beginning to
accelerate the problem in other parts of the country-then in fiscal
year 1980 the Treasury would lose about $30 million; but, by 1982,
the annual loss would be $313 million.
So, $313 million is the figure we are looking at 4, 5 years down
the road. That is why I am saying that some cost now is worth it.
Mr. STANTON. One last thing, Mr. Chairman, just for the record:
The Fed has now furnished me with the cost, since I spoke
earlier in my opening remarks, about a uniform reserve requirement structure, and the lower reserve requirements, instead of 7 to
16 percent, to a 6 to 8 percent for demand deposits, item No. 103,
the cost of these figures-I want for the record-is $270 million, in
comparison to H.R. 7, which is $230 million. So we are in the ball
park when it comes to a comparison figure.
Chairman REUSS. Mr. Wylie?
Mr. WYLIE. Thank you, Mr. Chairman.
Chairman Miller, on Monday Mr. Carswell was before this committee and he said, I think it is fair to say, that the primary
purpose of Fed membership is to get a handle on monetary policy.
Would you agree with that?
Mr. MILLER. Yes. There are some other reasons, but that certainly is the primary reason.
Mr. WYLIE. Has the President helped you solve your problem
with his new proposed fiscal policy?
Mr. MILLER. When I came to Washington last year about this
time, when I took office in March, the fiscal plan for fiscal year
1979 contemplated a $60.5-billion deficit. I must commend the Congress and the administration for recognizing the dangers of inflation and reducing that fiscal stimulus by $22 billion and coming up
with a fiscal year 1979 proposed deficit of $38 billion.
The trend the President has now followed-further reduction to
$29 billion for fiscal year 1980-is encouraging and in the right
direction. As I have said before, if we can continue to reduce the
Federal deficit, on a progressive basis so that we don't shock the
economy and send ourselves into a recession, and if we can reduce
Federal expenditures as a percentage of GNP, we will contribute
greatly to solving our problems and to a shift in the mix of policy
for more austerity on the fiscal side and more flexibility on the
monetary side. This, I think, would contribute to a healthier economy in the future.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
319
Mr. WYLIE. I agree with you. I say that because I believe that
most of your problems have been exacerbated by an irresponsible
fiscal policy over the last few years. You don't need to comment on
that.
Mr. MILLER. Since 1971, this Nation has added as much debt to
its books as it added in the first 200 years of its history. One would
not have to be very much grounded in economics to recognize that
causes a problem.
Mr. WYLIE. I will receive that caveat.
Mr. Stanton and Mr. Ashley both made much of the fact that
you first made a comparison with other countries and then attempted to expand on that.
Is it really fair to compare, or can we compare our problem as
far as our Federal Reserve System is concerned, and membership,
in view of the fact that we are the only country in the world with a
dual banking system?
Mr. MILLER. The issues of money and credit and of-States' rights
and Federal rights are old ones in this Nation. The whole issue of
banking has been a .volatile and a very controversial one from the
beginning of the Republic.
The resolution to find a compromise and to move to a stronger
national system that led to the Federal Reserve System was both
timely and critical. I don't think we would have brought our economy to where we have today without it. The improvements made in
the thirties to further strengthen the independence of the Federal
Reserve System and to maintain a strong supervision and environment for development of depository institutions have been critical.
The dual banking system has allowed, I think, an alternative that
has probably contributed to sound development of these policies.
I would like to see the dual banking system, that is unique to
America, maintained. What is proposed in H.R. 7-anything we are
proposing-is in the context that we intend, plan, and expect, that
the dual banking system will continue strong. Membership would
not be made mandatory, only that participation in the central
bank, which is necessary for the strength of the whole financial
system, would be required. In that sense, banks would still have
the opportunity to elect State charters and State supervision as
they do now.
I mentioned before that we have 1,100 State-chartered members
of the Federal Reserve, and that indicates that there are quite a
number of banks which are willing to be part of the central bank
but still maintain State charters; I think that will continue.
Mr. WYLIE. In the memorandum cover letter from Governor
Coldwell, which accompanied your statement, on page 2 he says:
"Monetary policy presently emphasizes the interest rate on Federal
funds as its day-to-day operating guide, rather than reserves." He
might have added-"Rather than monetary aggregates."
Given the fact that the Fed has been criticized by Mr. George
Meany for attempting to control the money supply by increasing
the interest rates, and by others for not controlling the money
supply directly, would not a change in your longstanding practices
improve the Fed's control over the money supply, might it
improve the Fed's performance, or what do you make of Mr.
Meany's appraisal?
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
320
Mr. MILLER. Mr. Wylie, I believe we must be willing to reexamine our techniques constantly, to look for the best way to accomplish our objectives. By now this committee probably has a good
view of my own philosophy about these things. I am not doctrinaire. I think we ought to be willing to examine on the merits any
-system that would give us better control.
It may be that we should reexamine, as the Fed has from time to
time, whether we should put more emphasis on the method of
controlling reserves as a way of dealing with the monetary aggregates, rather than the relation that aggregates have to the level of
interest rates. The Board has been discussing this; we will continue
to do so, and I think we are perfectly prepared to consider this on
the merits.
I am not yet convinced that on net there is any great advantage
of one system over the other. But there may be, and it may be that
the time will come when we will find, because of other changes,
that this would be a desirable way to go.
Mr. WYLIE. I think that is an excellent answer.
I have been given a note that my time has expired.
Chairman REUSS. Mr. St Germain?
Mr. ST GERMAIN. Thank you, Mr. Chairman.
Mr. Miller, we are talking about constituencies and, of course, as
Bill Stanton stated earlier, we have all been home for a period of
time since we last spoke-which I believe was in October-on this
issue, and as a result our constituencies have had an opportunity
to expound their views; and I think, as a practical matter, we must
realize that many of the members are probably going to have a
very difficult time with this.
On the one hand, it will be the responsibility of ourselves as far
as our economy is concerned; but, on the other hand, there have
been some strong arguments made at home; and I think you will
recall when you were still in the great State of Rhode Island, I
believe, that your office probably overlooked that gold dome which
is the dome over the Old Stone Bank, one of the oldest financial
institutions in the country.
Old Stone is unique, just as, unfortunately, Rhode Island's banking system is unique, because when they converted from a mutual
to a commercial they ended up providing stock to 52,000 Rhode
Islanders, 52,000 people in Rhode Island, announced stockbrokers
in that particular bank, and more than 85 percent of their assets
are in consumer savings and time deposits. The bulk of these are
small accounts and, as you probably know, as a result of their
historical emphasis on the mutual end of the institution, rather
than commercial, because it had been both for many years, before
the conversion, they are probably one of the State's largest mortgage lenders.
Now the legislation we have before us would have a severe
impact on Old Stone. It will require them to come up with close to
$30 million in reserves.
Now I am sure you realize that I have had conversations with
you and I appreciate the Federal Reserve's problems. By the same
token, I cannot help but be concerned about anything that would
have the effect of freezing $30 million of lendable funds, most of
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
321
which would have to be withdrawn from the mortgage market in
that tiny State of Rhode Island.
As I stated, and as I am sure you know, the structure of Old
Stone is unique because of this dual system where institutions of
Rhode Island can be both commercial and .a thrift.
Is there any way in which we can recognize the contribution that
this institution makes to the State of Rhode Island as far as mortgage lending is concerned, the fact that its ownership is not in
wealthy people but rather lies with working people who have had
these small accounts over the years?
Mr. MILLER. Mr. St Germain, I am aware of the Old Stone problem. I not only looked over its dome from my former office, but
when I first moved to Providence I actually had an office almost
next door, at 50 South Main Street, a building itself built in 1790.
These are rather old problems; they go back a long time.
Old Stone converted to a commercial charter and, of course, it is
the second largest bank in the State. One can well appreciate its
unique situation in that it converted from a mutual savings bank
to a commercial bank.
On the other hand, one can look at its surrounding competitors
and ask the question: Is there any equity in not having this particular second largest bank pay taxes toward maintaining our monetary system, while other banks do? So we have to look at the equity
of the situation.
I dQn't know if there is some way in which the deposits that
existed at the time the bank converted are unique or could be
adjusted. But I would like to talk to Ted Barnes and persuade him
that the Old Stone Bank is going to do better by operating within
the Federal Reserve family and will meet its obligation and potential better than by not becoming part of the System.
I will be happy to talk with him to persuade him that there are
some other factors that he ought to consider.
,
Mr. ST GERMAIN. That answers ml question, Mr. Miller.
Mr. MILLER. Bill Heisler wouldn t have a problem. I notice he
would have zero reserve requirements under H.R. 7.
Mr. ST GERMAIN. Bill is doing very well; so is Jack Starke.
Mr. MILLER. Absolutely, yes.
Mr. ST GERMAIN. Thank you, Mr. Chairman.
Chairman REUSS. Thank you.
Mr. Gonzalez?
Mr. GONZALEZ. Thank you, Mr. Miller, for being with us.
Interest rates are sky high. I think, histor.ically, in the whole
country, as well as the foreign markets, one can note several
things: First, how is the Fed policy affecting interest rates? And,
second, what are your longrun interest rate objectives? And since
you are presenting a proposal today to bring many more depository
institutions under your control, can you tell us how you would
better be able to bring down interest rates under this proposal?
Mr. MILLER. Interest rates, Mr. Gonzalez, as I think you are
aware, are influenced greatly by the rate of inflation. Interest rates
are made up of two components: One is an inflation component,
which maintains the purchasing power of the loaned capital; the
difference between that inflation component and the nominal interest rate represents the only real return on loaned money. In a
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
322
period of high interest rates-whether in the United States, in
England, in Brazil, in Italy, or anywhere-those who hold capital
always insist that they get back their purchasing power plus some
real return.
Looked upon in that way, we have tried to moderate the rate of
rise in interest rates to avoid dislocations in our economy. The real
rate of interest today on home mortgages is probably less than it
was 5 years ago. That is one of the reasons why Americans have
increasingly rushed to buy homes. They perceive that, particularly
in relation to their outlook for future income, that is a very reasonable proposition.
The Federal Reserve, in its efforts to restrain the growth of the
monetary aggregates and to contain the disease of inflation, undoubtedly contributes to the rise of short-term interest rates,
money market interest rates.
But it would appear that that very action to restrain the growth
of the monetary aggregates and to avoid excessive inflation has
also resulted in long-term rates that are probably lower than they
would otherwise have been. So there is an inverse yield curve that
has developed in the past year: The necessary monetary restraint
has tightened up the short-term market rates, but has left considerably more latitude in longer term rates; longer term capital has
not risen in cost to the same degree as short-term capital. That is a
vote of confidence from the market, which says, "We believe your
policy will work and that the inflation component in long-term
capital will come down; and therefore we don't have to increase as
much the charge for long-term capital."
Today, long-term Government bonds have a lower interest rate
than 30-day bills, which is a result of this new impression people
have of what is in prospect from monetary policy, coupled with
fiscal policy, coupled with actions to reduce the regulatory burden,
raise productivity, improve our international accounts, and promote exports. All of these go hand in glove with the effort to bring
down the rate of inflation and thereby bring down the rate of
interest. To the degree that we can improve the tools for controlling the supply of money and credit-so that we have a sure
mechanism for exercising that control with caution so as to avoid
dislocations, disruptions, and despair within the economy, but
nonetheless so as to bring the economy down to a rate of growth
that will allow us to work off inflation-the greater the precision
with which we can do that, the greater the probability of success
and the less the risk that we will inadvertently trigger a recession
or an economic downturn that would cause suffering for individual
Americans.
Mr. GONZALEZ. You don't think the present policies will bring
that about?
Mr. MILLER. Yes, over time, we will achieve our goals. But we are
exercising our policies with unsharp tools; we are more clumsy
than we would be if we had a more precise instrument. If we can
get a more precise instrument, we can bring precision to our actions and, as I say, avoid the possibility of being wrong.
If we have a great deal of slack in the system and, in an effort to
restrain money and credit, we go too far, unwittingly, then we can
trigger a recession. As you know, my view is that a serious reces
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sion does not contribute to solving our inflation problem because it
brings about massive unemployment and a higher Federal deficit,
and it starts us off on another cycle of reflation, with high borrowing by the public sector, and a shortage of resources for the private
sector to develop as it must in terms of productivity and capacity to
work on the supply side and the efficiency side of the economy.
Mr. GONZALEZ. You don't see that possibility happening in the
near future, with practically-as I understand the figures for the
last quarter or half quarter-no money growth and these terribly
high interest rates?
Mr. MILLER. As you know, I have had to keep up my courage
during this year in which many of you were concerned about the
rapid growth of the money aggregates. I pointed out that the
restraining influence of the Federal Reserve would take effect with
a lag. It has. We have shown lower growth rates for some time and
getting out some of the growth that was higher than we wanted.
We are getting back within the target ranges that we sought.
Now I think if we had better precision in monetary policy, we
could make sure that we don't have the money supply grow too
slowly and we could get it growing at the rate we want. But that is
very hard to do when your actions have as much swing as now can
take place-as demonstrated in chart I-because of the fact that
deposits and preferences for money run around among institutions
and among classes of deposits. We have a hard time getting a
handle on that. But I might point out, Mr. Gonzalez, that along
with the effects we are looking for from Mod 7-we must urge you
to look at Mod 7-we are also planning to do a complete study and
analysis of the definition of the various monetary aggregates.
The Federal Reserve staff will be publishing a paper this month
that offers some alternatives. It is our hope that this committee,
members of your staff, members of the financial and academic
communities, and business economists will help us, and that during
the year, as a parallel to Mod 7, we will also redefine the various
money supplies so as to sharpen our understanding of the characteristics of money as a medium of exchange and how that works
into the economy.
So we are looking at a monetary improvement program not only
in terms of reserves and membership, but also in terms of efficiencies, pricing for services, and payment alternatives, and at the
same time, we are reexamining the definition of money so that we
know what it is we want to control.
Mr. GONZALEZ. Thank you very much. My time has expired.
Chairman REuss. Mr. Leach.
Mr. LEACH. Mr. Miller, on page 12 of your statement you indicate
that the Board's proposal would place about 94 percent of all bank
deposits under the Fed. Is it not correct that the highest percentage realized since 1913 is about 86 percent, and if that is the case,
how do you respond to the argument that what the Fed is proposing is not a minor change but a somewhat greedy change?
Mr. MILLER. It is not intended to be greedy; it is proposed because there is no earnings penalty on banks. With the earnings
participation account, while the deposits would be with the Federal
Reserve, the portfolio rate of return on the Fed's portfolio would be
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paid; there would be no earnings penalty to the banks making
those deposits.
If we were looking for 94 percent coverage with sterile reserves,
then I think we would be overreaching. But these aren't sterile
reserves; these are earning assets.
Now, of course, you and I know that the rate of return on the
portfolio of the Fed will change from time to time. Some years, the
rate of return is higher than banks can receive by investing their
liquid assets; some years it is slightly lower. Over the years, it
would average out, so it won't cost banks anything.
It is for that reason that we feel comfortable that we are not
imposing a burden. I might point out, quite apart from the monetary control aspect that I have mentioned, a practical reason why I
think that having 55 percent of commercial banks operating within
the Federal Reserve System is desirable: It is desirable because
otherwise we would have very few banks, less than 1,000, putting
up all the reserves and carrying all of the burden of the relationship with the central bank. In a nation with 14,000 banks, 5,000
savings and loans, 500 mutual banks, and 22,000 credit unions, to
have less than 1,000 financial institutions carrying the burden with
the central bank creates a division. It creates two classes of institutions, and I think that is dangerous.
We should have a larger number of financial institutions dealing
with the central bank, so that there is a common interest in a
sound system, not outs and ins. I don't think that is important.
Mr. LEACH. Let me pursue the assumption that to have more
banks covered will, on the one hand, increase the monetary aggregates which the Fed controls, and, on the other hand, would be
anti-inflationary.
The first part of the assumption seems correct, but is the second?
For example, if you look at the history of the Fed, there are many
who argue that increased control has been for the wrong purpose
at the wrong time. Increased control is not necessarily anti-inflationary; it could be the opposite. It might be that under your
leadership we could see increased control leading in an anti-inflation direction; but under someone else's leadership it might not.
Is there a serious argument that increased control may not be in
the country's interest?
Mr. MILLER. I think not. Less control with bad policies doubles
your error factor and makes it worse. Better control, even with bad
policy, allows you to see effects quicker and make corrections
quicker. It also allows this committee, in its oversight function, to
be far more likely to have a correct view of the effects of wrong
policies. You would see them more quickly and react more quickly.
In recent years, a great many new mechanisms have been put in
place to strengthen congressional oversight of the monetary
system. The monetary hearings that we have been having have
greatly increased the knowledge, awareness, and involvement of
this committee as representatives of Congress in the process and, I
think, have held the Federal Reserve accountable to high standards
of performance. With the new requirement under Humphrey-Hawkins, we are even going further. We will be showing you our
outlook for monetary policy for the whole year, and, we will be
relating it to the economic objectives of the Nation.
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We will be appearing here again on February 21 to start that
process, and through these very strengthened processes I think you
will be much closer to what we are doing and why we are doing it.
If we make a mistake, the knowledge of it will be shared, although
if we do make a mistake I am sure I will be at fault.
Mr. LEACH. But on the Fed membership issue, we share very
poignantly in the decisionmaking process.
I have one final question. Have you made any study of regional
imbalances that might occur? My State of Iowa has a very large
number of quite small banks. Very few belong to the Fed. Should
an increasing number of these banks come under the Fed, might it
be argued that the cost of business would go up disproportionately
in Iowa causing a correspondingly disproportionate rise in the interest rates charged to Iowa consumers?
Mr. MILLER. There is quite a bit of regional variance in our
country, and that makes it difficult to implement a perfect monetary system. We have had in recent years-this is different from
prior years-more sluggishness in the northeast for reasons of
maturation that would be typical of any society, and we have had
greater economic growth in the newer areas and in those with
energy resources. Therefore, the demand for money and credit has
shifted around, and this has created problems for us. I think we
have to try to level those. We have to study our regional economies, as we are doing, in more depth, and try to make sure that we
recognize their problems and deal with them.
But one of the geniuses of H.R. 7 is that it certainly endeavors to
recognize the problems of small institutions which, if they are part
of it, are particularly heavily burdened by the present Federal
Reserve System. As chart III will show you-the bottom part which
shows the burden as a percent of earnings, they carry a larger
percent of the burden in being part of the Federal Reserve than do
larger institutions. One, I think, of the innovative parts of H.R. 7,
introduced by Chairman Reuss, is the exemption; we might argue
the level, but this feature would really reduce the burden upon
smaller institutions.
My staff has advised me that our computer run shows that no
bank in Iowa would have any increase in nonearning reserves as a
result of this legislation.
Mr. LEACH. Thank you.
Chairman REUSS. Mr. AuCoin?
Mr. AuCoIN. Thank you, Mr. Chairman.
Chairman Miller, how often has the Fed used changes in reserve
ratios among member institutions as a monetary control tool?
Mr. MILLER. The Federal Reserve has rarely, in recent years,
used a change in reserve ratios for monetary control. We did
recently, on November 1, in connection with certain large certificates of deposit, but such change has been rare. It is too bad,
because we really should be able to use the reserve ratio technique
more flexibly. We have been inhibited-I say "we" although I have
only been in the Federal Reserve for 10 months-historically, the
Federal Reserve has been inhibited from using reserve ratio
changes as a technique because the Fed has been in the position of
trying to avoid any such actions that would further burden members. Quite often, the use of reserve ratio changes is to impose
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larger reserves on a certain type of deposit in order to gain some
monetary control over the growth of that deposit category.
Mr. AuCoIN. On the other hand, Mr. Miller-Mr. MILLER. On the other hand, we could have lowered ratios
and made membership more attractive. However, we cannot lower
them in some deposit categories because of statutory limits.
Mr. AuCoIN. So the tool you have been using then in conducting
monetary policy principally has been your open market operations?
Mr. MILLER. That is correct.
Mr. AuCoIN. What inherently is missing in that last tool, the
tool you have been using in conducting effective monetary policy
for this country?
Mr. MILLER. What has been missing?
Mr. AuCoIN. Yes.
Mr. MILLER. There are reasons why reserve changes may be
more desirable in a number of cases. Because these tend to impact
specific classes of deposits, there are cases where the difference in
requirement-between domestic and international deposits, for example-may be used to influence specific flows of funds.
But whether we operate through the use of reserve requirements
that Congressman Wylie was speaking of, or whether we operate
using the techniques of the open market, it is still true that open
market operations would be more effective if we had more certainty in the fulcrum on our lever. That is what chart I is about; if we
get more certainty, then what we do in the open market becomes
more effective. That is one of the reasons, of course, we are seeking
this universality of reserves.
If we go beyond that-Mr. AuCoIN. Excuse me. Go ahead; finish your statement.
Mr. MILLER. No; I think the point was made.
Mr. AuCoIN. When you say certainty, are you talking about
predictability, certainty in predicting money movements?
Mr. MILLER. Yes. As you know, whether we are adding to the
money supply or withdrawing from it, how open market operations
actually work out depends upon how our action works through
deposits from institution to institution.
Mr. AUCOIN. Why wouldn't Mr. Stanton's suggestion for improved information gathering not solve the problem of certainty in
predictability in money movements?
Mr. MILLER. Information would help us, but it won't tell us until
after the fact whether deposits flowed from banks subject to reserves or banks not subject to reserves. You can't tell that when
you take an action at the desk. The report is about the past; it is
not about the future.
What we are trying to do when we are taking action through the
open market is to affect the level of reserves and the level of credit
availability over the next week; reports only tell what happened
the past week.
Mr. AuCoIN. Of course, any action you take, you have to then
assess what actually occurred; and then, based on whether you
miscalculated or not, you take subsequent action.
Mr. MILLER. But if every institution and every kind of deposit is
subject to the exact same kind of reserve, this becomes a mathematical computation. We would know that no matter which insti
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tution ended up with a deposit, the consequence would be the same
in terms of aggregates; so I think there is a lot that we would gain
no matter which tool we use.
Mr. AuCoIN. You say that even though among member institutions you have not used the tool that you request now?
Mr. MILLER. There are two tools.
Mr. AuCoIN. If it is such an effective tool, why is it you have-Mr. MILLER. Perhaps I should back off and clarify what we are
talking about.
In the first place, given the present situation, we cannot predict
with certainty the effect of an increase or decrease in reserve
requirements because we still have the problem of deposits flowing
between members and nonmembers. What we are talking about in
H.R. 7 is a universal requirement for all institutions above a certain size on deposits of the same category; all would be required to
maintain reserves. So what is introduced in the way of certainty,
using either tool, is that the fulcrum becomes much more certain.
Now this bill, as you know, has very reasonable reserve requirement levels. It also has bands of flexibility much narrower than
those under the present law. So if there were any change in reserve ratios once H.R. 7 is enacted into law, the percentage change
would likely be smaller, but, since alt institutions are covered in
the same way, and reserves are not graduated, the dollar change is
required. Reserves could be quite large-billions of dollars.
So I think we benefit in two ways. We get the possibility of more
certainty because all deposits-no matter whether the deposit is in
a member or nonmember-are subject to the same reserve requirement. Still, if we want to exercise restraint or ease by changing
reserve ratios, we have the ability to do so. So we would have a
more universal system, and we would have retained the ability to
move the level of reserves up and down and to control them. We
not only would have more precision but also the ability to use
alternate tools.
These are the two different aspects.
Mr. AuCOIN. Mr. Chairman, my time has expired.
Chairman REUSS. Mr. D' Amours.
Mr. D'AMOURS. Thank you, Mr. Chairman.
Thank you, Chairman Miller, for your testimony.
I have a small problem with your testimony. On page 7 you say
we are the only major country in the free world that legislates
some inequity upon our commercial banking system, but you apparently do not intend to go the route of requiring reserves to be
held against nontransaction accounts being held in thrifts at this
time.
Am I to understand that you think that it would be desirable to
go in that direction in the future?
Mr. MILLER. If we were designing a perfect system, I would think
that universal reserves on all depository institutions for the same
classes of deposits would be ideal. I don't think it is politically
practical to do this. Thrift institutions have been created outside of
the central banking system and chartered, both State and nationally, for certain purposes.
Mr. D'AMOURS. I understand that.
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Mr. MILLER. Then I would go beyond that and say that since I
don't believe it is practical to achieve that ideal, I also don't think
it is practical to use the qualification, at this time. If we are going
to set down a system and expect people to accept it as a fair new
set of ground rules, we have to give them some assurance that we
are not just going to get our nose under the tent and then change
the rules again.
I really think we should stabilize the system and expect the rules
to stay the same. I don't think we should try to mislead anybodysell them a bill of goods, and then stick them with some other
burden later.
I think, after we have all discussed this, we are going to leave
the savings deposits of thrift institutions outside of the system. I
just think that is the practical world.
.
Mr. D'AMOURS. All right.
Mr. MILLER. I don't think it is ideal; I think it is practical.
Mr. D'AMOURS. We apparently have this bank in Rhode Island,
with which you are very intimately familiar, called the Old Stone
Bank, I believe it was?
Mr. MILLER. It is a great name, isn't it?
Mr. D'AMOURS. It is difficult to not be very sympathetic toward a
financial institution with that kind of a name.
Mr. MILLER. The third largest bank in Rhode Island is the Hospital Trust, if that will make you feel better.
Mr. D'AMOURS. I don't think that that Old Stone Bank is quite as
unique as you and Mr. St Germain have been assuming it is. We
have at least one in New Hampshire that is almost identically
constituted, historically, and all, which is also being adversely affected by this legislation and which is a State-chartered bank at
this time.
Now, if we shouldn't be changing the ground rules for thrifts,
should we then look for some kind of an amendment to this bill
that would take into consideration the Old Stone banks in this
country that are State-chartered at. this time and that are, in fact,
competing with thrifts in the locality that do maintain a considerable portion of their assets in home mortages? Should it be that we
should be looking then for some kind of a provision to especially
care for these institutions?
Mr. MILLER. I think we should examine that; I don't know how
we could distinguish these cases, and I think we have to be objective and fair to everyone.
As I said, I think I will talk to the president of the Old Stone
Bank and persuade him that, all things considered, there are many
factors that favor this revised and better system.
But let me remind you that one other way to go would be not to
impose any reserve requirements at all on true savings deposits.
Mr. D' AMOURS. That is fine. I am delighted to hear you say that.
Mr. MILLER. To my mind, that is a very viable alternative. The
trouble is, it costs money, and it relates to the question of how
much we can take out of the Treasury.
There are two ways to solve the problem.
Mr. D'AMOURS. Exactly.
Mr. MILLER. You can add a burden to somebody else or you can
take it off the one who is burdened. I don't object to taking it off
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the one who is burdened, if we can afford it. I have always said
that I am not dealing with ideals, but with restraints. If we could
just level the field by saying that everybody with transactions
accounts gets treated the same way, and nobody with true savings
deposits has a reserve requirement, that would be fine. It just
doesn't price out too well.
Mr. D'AMOURS. Would you be willing to come to talk to the
president of the bank I have in mind also?
Mr. MILLER. Surely.
Mr. D'AMOURS. That would be of great assistance to me.
Mr. MILLER. I see in New Hampshire you have three nonmember
institutions and there would-Mr. D' AMOURS. It didn't take you a long time to find them.
Mr. MILLER. I have the name already; I have it figured out. I will
be glad to talk to him.
Mr. D' AMOURS. I haven't succeeded in persuading this person it
would be beneficial for this person to come; so if you can, I would
be appreciative.
Thank you for your testimony.
Chairman REUSS. The Chair notes the presence of a distinguished
alumnus of this committee, and we miss him, but we got a lot of
fine liberals to replace him.
Mr. Evans.
Mr. EVANS. Mr. Chairman, thank you very much. I apologize for
the laryngitis that I have, and I appreciate being moved up here to
the stratosphere on the front row, skipping altogether the second
row.
Mr. Miller, it is a pleasure to have you here. It is always a
pleasure to listen to your able approach to some of the problems
that we are facing. I certainly support the concept of strengthening
the Federal Reserve System, of maintaining its stability, its viability; and I share your concern about the declining membership in
the Fed because I do believe that impedes your ability to accomplish some noble objectives.
And let me at this point congratulate you for the courage that
you have exercised in the monetary restraint area. It does take
some courage and I hope you will continue.
But there are two sides to every coin, as my friend from Ohio,
Mary Rose Oakar, is aware of. When someone benefits, generally
speaking, someone pays for that benefit; and I was interested in
your remarks about cost-benefit analysis and relationships.
In Delaware, Mr. Miller, as you are probably aware, we do have
a branch banking system. We don't have bank holding companies
and we are rather severely impacted by this bill, or any variation
of it, as long as the mandatory reserve requirements are part of it.
I would hope that we could approach the problem on an incentive
principle basis.
I share the concern that you have about inflation and about cost.
I recognize that there are costs, but I would hope that your staff
could focus some attention on projecting the impact on States like
Delaware and various areas like Iowa, where we have small- to
medium-sized banks. In Delaware we have four major banks and
four major banks have assets that range from about $200 million to
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about $900 million. It would impact rather severely in Delaware
and in the area, I believe, of about $100 million.
Now that also affects inflation because it affects ultimately jobs
and revenue; and I would just hope, Mr. Miller, that Delaware
won't be the duck at the duck dinner in this instance.
Rather than going on further and using up the full 5 minutes, I
would certainly appreciate the opportunity to discuss this with you
at length sometime, because certainly we are prepared to bear our
share of the burden, a proportionate share of the responsibility; but
I don't believe that Delaware or anyone else should be asked to
bear an inordinate share of the burden.
Mr. MILLER. Mr. Evans, I have been listening to you and trying
to flip the pages to get Delaware before me here. I would be
delighted to examine that issue with you about Delaware.
Mr. EvANS. Thank you.
Thank you, Mr. Chairman, very much.
Chairman REUSS. Thank you.
Ms. Oakar?
Ms. OAKAR. Thank you, Mr. Chairman.
I am very happy to see you staying so long, Mr. Miller. I appreciate it very much.
In Cleveland, Ohio, my city, wedged in among the banks in
downtown Cleveland is a church called the Old Stone Church.
Somehow it hasn't helped our situation, but maybe we can get the
bankers to go there more often or something.
Mr. Miller, I have a question about the reserve requirements for
demand deposits and the increase in that requirement in terms of
this bill, and also considering the need for more investment in
terms of producing housing and creating jobs. And I am wondering
if this increase in the rate for these demand deposits would take
away from the availability of funding for mortgage and other investment sources needed to produce housing and, therefore, jobs?
Mr. MILLER. Yes. Congresswoman Oakar, I am just turning my
pages quickly to Ohio.
My view is that this bill will not really affect the availability of
credit and money for housing.
As you know, housing has been unduly burdened in past economic cycles, when the necessity to take a tighter stance in monetary
policy has often resulted in a disintermediation of funds available
for housing. We have tried to respond to that, as a part of our
monetary actions last year, by working with other regulatory agencies to establish new money market certificates which allowed the
housing industry to compete for funds. That action was successful.
As a result, housing starts stayed at a 2-million level and the
dismantling and unemployment that has happened before-when
housing took it in the neck-has been avoided.
One of the things about Mod 7 is that while there will be some
reserve requirements on nonmember banks, there will be no reserves imposed upon savings accounts at thrift institutions. Therefore, I would see no impact on the principal depository source of
funds for housing, which is the thrifts.
Now as to banks, as Steve Axilrod reminds me, the overall effect
of this bill on the banking system would be to lower reserve requirements on savings funds as compared to the present system.
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That is correct, on the average. So I would think the available
resources for housing would be improved and not impaired.
Ms. 0AKAR. Mr. Miller, the bill-much to its credit-does lower
the savings deposit rate between 1 to 3 percent. I believe before it
was 6 to 8 percent.
Mr. MILLER. It is 6 to 8 percent under the one last year. The
present rate is actually 3 percent.
Ms. 0AKAR. Which, I think, is a real improvement.
What I would like to ask, in that respect, is: What effect would
there be on your ability to control monetary policy if we just
eliminated the requirement?
Mr. MILLER. If we had zero reserve requirements on true savings
deposits, I don't think it would affect our monetary policy; but I am
distinguishing true savings from those kinds of savings that now
are tied to transactions which we under this bill would have in the
category with demand deposits and transaction accounts.
I think the problem with having zero reserve requirements on
savings is a question of cost. We can do it if we either accepted
more loss to the Treasury or if we accepted a higher reserve
requirement on transaction balances. It is a tradeoff.
Ms. OAKAR. It would be an incentive for some thought?
Mr. MILLER. Yes. I think the Chairman, with all due respect, and
the staff, have done an outstanding job in trying to balance these
issues. They have made some changes since last year; they did
increase the reserve requirement for demand deposits and equivalents, and they did lower the requirement on other savings deposits from the bill that was considered last year-just because they
recognized, I think, some of the problems you are talking about. I
am sure they have done some good trading in trying to find the
optimum.
We could all look at this and study it more, and we might come
to slightly different conclusions, but those tradeoffs are still there
to be made.
Ms. 0AKAR. Thank you, Mr. Chairman.
Chairman REUSS. Mr. Barnard.
Mr. BARNARD. Thank you, Mr. Chairman.
Mr. Miller, in developing Mod 7, as you call it, did the Federal
Reserve do some really far-out thinking as to maybe changing the
whole system in some way, other than just modifying the system
that we presently have?
Mr. MILLER. Yes. We have looked at a large number of alternatives, Mr. Barnard. As I say, many of them were more ideal than
Mod 7; many of them are attractive. Perhaps the ideal system
would be to have truly universal reserves, without any exemptions,
and, therefore, much lower reserves, and also to have either the
same reserve requirements on all savings deposits-regardless of
type of institution-or, as we were just discussing, to have zero
requirement in that category. That would be ideal, in the sense
that there would be a closed circuit: every deposit, wherever it
went, would be accounted for; a shift from funds that are spendable
to investment form would be accounted for. Coupled with charging
for services, in order to improve the payments mechanism, that
would be a very, very efficient system.
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But I believe-looking at the constraints we have-that H.R. 7
designs an excellent financial system. I would think that your
committee ought to bear in mind that this is a very fine piece of
work. You should be commended for developing it to this stage.
We are going to look at alternatives. We don't want to close our
minds, because there are systems that have some merit and solve
constituency problems to different degrees. But in seeking excellence and seeking the best, this is a good proposal to start with.
Mr. BARNARD. It has been said-and you indicated your thoughts
on this also-that the taxing of financial institutions ought to be
equalized-Mr. MILLER. That is correct.
Mr. BARNARD [continuing]. That some should not be eliminated
from the obligation of doing business as a bank.
It occurs to me-and I was interested in knowing whether the
Fed had studied a method whereby possibly we could have-as you
have just indicated-lower reserves, say 1 percent, but on all the
deposits regardless of where they were, if that wouldn't really be a
more equitable approach, and certainly if we would be getting what
Mr. Stanton was alluding to, why couldn't there be a simple solution to this problem?
Of course, I realize there is no simple solution to the problems
we have today, but it looks like, to me, that I would like to see the
benefit of your studies on something of this kind. And let me
approach it a little bit differently.
There are other facilities the Fed has for controlling money
supply. There is an argument as to whether or not reserves is as
important in those facilities as some of the other, the open market,
the activities in the open market, the control of credits from the
standpoint of downpayments, and other things. It is important to
know whether reserves really fit into these other activities that the
Fed has to control money supply.
And if those reserves and if the reserve mechanism is not as
important as some of those others or it can be minimized, then I
would think in order that every bank and financial institution
would pay its dues, maybe in order to offset the revenue that the
Government would not be getting, if there was one-half of I-percent tax on all deposits, that would somehow get this to the reserve, but it would compensate the financial loss we would be
having today.
I was just interested if you have explored those avenues.
Mr. MILLER. I think there are those who would argue that a good
monetary system can exist without reserve requirements at all.
You can go another route, as you suggest, through a tax. If you
decide you want to tax companies, you do it through the income
tax and base it on the flow of benefits and the sharing of revenues
with the central government.
The trouble that I have with eliminating reserves completely is
that I still am convinced this is an important monetary tool.
Whether we have been able to use changes in reserve ratios as a
tool in the past, whether it would make our work in the open
market easier, can be set aside; I think reserves are something we
cannot afford to forgo. I am reminded that every time a nation that
does not have reserve requirements gets into financial problems,
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the first thing it does is to put in reserve requirements, which
proves the point that it is theoretically possible not to have them,
but it is sure great to have them when you have a problem.
I look at a very practical consideration: I do not believe it is
possible to eliminate reserve requirements without having an
impact upon the Treasury that would be so great that we could not
absorb it at this point. I do not believe we could lower reserves
enough, and spread them over every one so as to make the burden
smaller on smaller institutions, to make the system work or make
it salable without a tremendous loss of revenue. So I come back to
saying that there are many constraints, and one of the constraints
we have felt is that just so much loss of revenue should be taken at
this particular, critical time. It turns out that after 4 or 5 years the
loss of revenue from this particular bill will be about the same as
the loss of revenue from not doing anything, so it is a kind of
"free" modernization of the system in that sense.
I guess I come out believing that this is a livable, workable way
to go, rather than trying to seek the ideal and ending up by doing
nothing and thus losing monetary control, membership, and
revenue.
Mr. BARNARD. My time has expired but I would hope the Fed
could address as to how they would go about regulating Mod 7, how
much reporting would have to be done by the banks. Would it
mean there would be further examinations of nonmember banks?
How often would this reporting have to be done?
If there is some way I can get some indication from you, because
if there is one thing the banking industry does not need today, that
is more regulation.
Mr. STANTON. Would the gentleman yield?
Mr. BARNARD. Yes.
Mr. STANTON. May I ask unanimous consent for all members who
desire to submit questions in writing to have an opportunity to do
so, with the hope that Chairman Miller could get the answers back
to all of us within a few weeks so we would have a complete
transcript of not only this hearing but of all questions put forth.
Chairman REuss. I think that is a reasonable request. Would the
close of business on Friday be acceptable?
Mr. STANTON. Yes.
Chairman REUSS. Is there objection?
Hearing none, it is so ordered.
Chairman REUSS. Mr. Green.
Mr. GREEN. Mr. Miller, I would like to get back to the discussion
that you had earlier concerning the advantages of having reserve
requirements in obtaining monetary statistics as compared with an
improved reporting system. Could you, assuming that you had an
accurate reporting system which really gave you weekly information from nonmember depository institutions with the same cutoff
as being contemplated here for the near universal reserve requirement, get sufficiently accurate data? If there is an advantage to the
reserve requirement approach, can you quantify it?
Is it possible, if you can quantify it, in essence to eliminate the
advantage for the near universal reserve requirement by having a
lower threshold for weekly reporting than these bills would have
for the near universal reserve requirement?
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Mr. MILLER. Let me make a general comment that perhaps we
should supplement with a written reply.
In general, one of the problems that we have in monetary policy
with data is that since we are working on less than a complete
universe of data we have to estimate many of the aggregate numbers based on samplings and based on trends. But institutions do
change, and there is a vitality in our economy that causes unpredictable shifts. So we find, when we finally get the survey data
months later for these benchmark corrections-I think we will
soon have it for last June-that the money supply did not behave
as we thought in the last quarter; it grew more, or less. This is a
terrible way to run a monetary system in a modern world.
We do have some predictability, but we also have the kind of
unpredictability I was pointing out not only in terms of deposits
moving among different sizes of institutions and different requirements as to category, but we also have some measurement problems. There is an interaction of problems.
Mr. GREEN. I guess what I am asking is, which of those would
you eliminate by reason of having almost every depository institution in a system where they had to put up reserves that you could
not eliminate simply by weekly reporting?
Mr. MILLER. I would like the staff to give a written reply to that.
[Chairman Miller subsequently submitted the following information in response to Congressman Green's question:]
RESPONSE FROM CHAIRMAN MILLER
It is very difficult to construct estimates of changes in the ranges of error that
might result from the availability of complete information on deposits at all depository institutions. The ranges of error presented in my testimony were based on
estimates of essentially random flows of deposits between member and nonmember
banks. The larger the relative share of deposits at nonmember banks, the larger
would be random errors in the reserve-deposit relationship, given that nonmembers
are not subject to Federal reserve requirements. Complete data on nonmembers
would enable us to make a more accurate estimate of the size of the random error
than we can at present in the absence of such data. The revised estimate would
probably be different from the present estimate based on indirect information, but
there is no a priori reason to believe that the revised estimate would necessarily be
smaller, or necessarily larger for that matter.
On the other hand, a continuous flow of nonmember bank data would facilitate
offsetting adjustments in open market operations to shifts in the reserve-money
relationship. This information would mainly help in adjusting to cyclical, structural,
or other relatively long-lasting changes in relationship, to the degree that those
changes could be detected earlier and with more certainty. However, even with
more complete information on deposit flows in the past, the future relationship
between reserves and money would still be subject to large disturbances arising
from unpredictable shifts in deposits between member and nonmembers.
While there would be a gain in monetary control from better data availability, it
is not possible to provide a quantitative estimate since the improvement would
depend basically on operating decisions made in the face of the new, more complete
data. It is our judgment, however, that this gain in control, desirable as it is, cannot
be considered as a substitute for the universal reserve requirements proposed in
H.R. 7, and more comprehensively in modified H.R. 7. Universal reserves are needed
to eliminate the sizable slippage in the reserve-deposit relationship that would in
any event be caused by continuing membership attrition and by large-scale, unpredictable shifts in deposits between member and nonmember banks.
Mr. GREEN. I have a more specific question. A couple weeks ago
you obviously ran into some trouble in estimating the money
supply when you had to make a significant restatement as to the
previous week's figures. Have you determined what caused that?
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Mr. MILLER. Yes. That was very easy to determine; a bank made
a mistake. That happens three or four times a year; somebody
filing those weekly numbers makes a mistake. They are audited
and the figure gets corrected, but, unfortunately, that is another
kind of problem; that is, the error of human beings. That is not
correctable by a system, but by education. There are, however,
such problems as snowstorms: Chicago has been having a terrible
time getting data because people cannot get in to work, and so
forth. It was a Chicago bank that made the mistake, by the way,
although it probably was not related to the snowstorm; it was just
a mistake.
Chairman REuss. Mr. Paul.
Mr. PAUL. Thank you, Mr. Chairman.
Mr. Miller, on the top of page 10 I have a question. I will quote
your sentence.
The Federal Reserve System could then act as a lender of last resort to a broader
class of depository institutions and thereby enhance overall safety and soundness of
the depository system.
What prompts this? Is there anything in your mind to suggest
the possibility there will be a need to help these banks out? Is
there any sign that ·some of the banks that are not under the
Federal Reserve System are weak and that they will need some
help from the Fed as a lender oflast resort?
Along this line, is there any vehicle by which a nonmember bank
could also borrow money from the Federal Reserve right now?
Mr. MILLER. Mr. Paul, that statement is directed, of course,
toward the purpose of a central bank as the source of liquidity for
the financial system. Problems may come about not because of the
unsoundness of institutions or because of their weakness, but because of outside events that have affected their liquidity. It could
well be that a sudden or a progressive shift of monetary policy
toward tautness has cut into available liquid resources and that
the bank may need time to shift its portfolio. By being able to
borrow from the central bank against certain of their assets, banks
are able to make these adjustments, liquidate securities, and so on.
There are also times when banks get into more permanent imbalances in liquidity and need time to work out difficulties. While
an institution may not be unsound-it may be overloaned or perhaps one of its customers or a class of customers may have money
flow problems and payments are not coming through-it may need
this protection. There is nothing that should be read into my
statement as suggesting that we have a weak financial structure.
One of the purposes of all central banks is to cover those times.
There are times when the Federal Reserve may be applying monetary restraint and the availability of the window allows banks to
adjust to that restraint smoothly and avoid disruption; adjustments
may take place over 3 or 4 weeks.
We also have seasonal factors-in resort areas of the country, for
example. There are certain times of the year when more funds are
needed in these areas. A bank cannot usually maintain the capital
as excess for parts of the year, so it lends part of them; we may
give some seasonal help in this case.
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Yes, nonmembers can, under certain conditions, borrow. It is
clumsy and difficult. This legislation responds by treating all banks
like members for this purpose and gets around the clumsiness.
The liquidity is also important to clearing banks. If a clearing
bank not now a member of the Federal Reserve should have a
liquidity problem, it may not be able to pass funds to its correspondents in clearing payments, and there could be a ripple effect with
other institutions suddenly without funds. If that bank has access
to the window, the situation can be cleared up, and I am sure other
institutions would not be affected while that particular problem
was being addressed. It is for those kinds of reasons that access to
the window is very important.
Mr. PAUL. Do you see any conditions before us where the inflation rate might get so high you would consider the recommendation of wage and price controls, mandatory type, or credit controls?
Mr. MILLER. No, I do not see conditions that would make me
favor mandatory wage and price controls. Experience shows that,
except in wartime or the equivalent, when the whole Nation mobilizes and is willing to forgo its normal course of business, controls
are inequitable; they do not work; they cannot control large sectors
of the economy. There was no effort in 1971-73 to control agricultural products, and look at the oil bill that we cannot control. So to
try to impose controls on parts of our economy does not work.
I do not see conditions where we would want credit controls. The
better system, we are learning, is to put some macro-controls on
our economy-restrain the availability of credit and money-and
then let the economy itself sort out the highest and best uses for
resources. We get a better result that way.
I do not say, however, that we should forgo credit controls or
mandatory wage and price controls in times of war or national
emergency. I do not see any such conditions in the foreseeable
future. I do believe the inflation rate will begin to attenuate as we
see the impact of the policies we have put in place, and that we
will see-over 6 or 7 years-the economy adjust itself to a more
normal operation.
Chairman REUSS. Mr. Campbell.
Mr. CAMPBELL. Thank you, Mr. Chairman.
Chairman Miller, I have been following the statements that have
been made and understood the Fed needs to maintain control of 68
percent of the currency in order to control the monetary policies
with some degree of effectiveness, and you now have about 72
percent and you would be going up to about 94 percent under your
Mod 7. Is that a correct assumption at this point?
Mr. MILLER. My view is that at 68 percent of deposits you have a
very slack and a very loose tiller-using the comparison that the
chairman used-in that it makes it very difficult to exercise monetary policy with the degree of precision that is desirable in these
times of high inflation.
So I would be very nervous as a central banker-other people
have different views-but I would be feeling quite tense if we had
only 68 percent of deposits, because I would have so much slack I
would not be able to be sure my policy was going to get the result
we needed.
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Mr. CAMPBELL. The reason I stated that, I am a little bit concerned. I can see that most of your proposal for Mod 7, as you call
it, is predicated upon the accuracy or the assumption that your
chart, which is listed as chart I, is going to be somewhat accurate. I
see that in your statement on page 2. I would like to ask about the
staff study which was underlying chart land ask if the model was
tested against actual experience in predicting monetary aggregate,
as the membership has declined over the last 10 years. And, if it
was not, should not such a test be applied? And if it was, could we
be supplied the data they drew from?
Mr. MILLER. Mr. Campbell, why don't we supply to you background for the basis for this chart. I do not have with me the
technical data behind it.
Let me add that I hope we do not focus so much on chart I that
we miss some of the other reasons for this legislation. Monetary
control is part of the issue; equity and fairness in competition are
part; efficiency of the System is part. Even in looking at the
coverage of institutions' deposits, in my mind, there is a consideration other than just the greater precision introduced.
I do not think it is in our national interest to have the central
bank related only to 1,500 banks when we have 14,000 banks in
this country, because I think what you get then is that political
pressure will build to make those 1,500 the whipping boys. I do not
think that is healthy.
I think we should get everybody into a confluence of interest. So
I say that a supplemental consideration, without· penalizing earnings, is to strengthen the relationship between these institutions
and the central bank in a way that will make them appreciate the
importance of a sound financial system to their own health.
Mr. CAMPBELL. Let me say the reason I am asking for this is I
have three banks in my State which will be adversely affected by
Mod 7 from their standpoint. We have a number of alternatives
that have been suggested, H.R. 7, the chairman's bill, Mr. Stanton's
alternatives, and in an effort to make the best decision and in
sympathy with your position, I think this information would be
very helpful as to which road we follow.
Mr. MiLLER. Absolutely. I certainly want you to have the technical backup for your decision, and we will submit this data when we
submit answers to the other questions.
[Chairman Miller subsequently furnished the following information in response to the request from Congressman Campbell:]
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INFORMATION FURNISHED BY CHAIRMAN MILLER, AT THE RE(.llJEST OF CON'.3RESS~fAN CAMPBELL
Chart I shows the absolute range within which the percentage predictio'n
errors in the two-month growth rate of the monetary aggregates will fall 95 per
cent of the time.
The analysis underlying the chart was prepared by three Board
staff members in a memorandum to Mr. Axilrod, Staff Director for Monetary and
Financial Policy, and is attached.
Briefly, the analysis is based on the conventional reserves-to-deposit
multiplier model of the banking system.
This model provides a theoretical
analysis of the way in which shifts of deposits between member and nonmember
banks are a source of error for monetary control purposes.
Accurate direct
information on the magnitude of such interbank deposit flows is not presently
available due to a lack of complete data on nonmember banks.
An estimate
of the most likely distribution of random flows of deposits between members and
nonmeml>ers has been obtained from an analysis, based on probability theory, of
the public's check-writing and check-depositing behavior in the presence of a
dual banking system.
Given the estimated distribution of random interbank
deposit flows, the reserves-to-deposit multiplier model then determines the
range of present-day deviations in growth of the money stock from its intended
path.
The most likely range of random interbank deposit flows--and hence the
range of unpredictability in monetary growth--depends on the ratio of deposits
at member banks to total deposits.
the Federal Reserve System.
This ratio declines as member banks leave
Hence, the analysis can be used to estimate the
extent to which unexpected variation in money growth would be affected by the
continuing attrition of member banks from the System.
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Office Correspondence
To
From
Dnte. N,1vymbc·1· 7_, 1c,77
Subject· The t;Hect of Interbank Ueposil
M.-. Axi 1 rod
K. Kopecky, D. Parke, R. Porter
Flows on Monetary Control*
This memo discusses the probable effects of (unexpected)
deposit flows between member and nonmember banks on the Federal
Reserve I s ability to control the narrow money stock.
'fhe o1nalysis
is based on the deposit-multiplier model of the banking system and
assumes that the Federal Reserve has a total reserves operating
target.
This model, which ls the typical analytical structure used
ln studying the dual banking system, provides a theoretical analysis
of the way in which nonmember banks are a source of error for mone-
tary control purposes.
With respect to the es tlmated size of the
nonmember-monetary control effect, accurate direct information on
th~ magnitude of interbank deposit flows ls not presently available.
A general impression of the most likely size of such interbank flows
can, however, be obtained from an analysis, based on probabi li Ly
theory, of the public's check-writing and check-depositing behavior
in the presence of a, dual banking system.
Given a 'best guess' for the size of the interbank deposit
flow, the deposit-multiplier model then determines the implied
present-day deviation ln the money stock from its targeted path,
The analysis can also be used to predict the extent to which money
stock misses would be affected by the attrition of member banks
from the Federal Reserve System.
Both the deposit-multiplier's
solution for the money stock and the most likel)• i:;ize of the
~•~
\4e wi!'llh L,1 thank Daniel Laufenberg, David Lindsey. mtd D.:ivid
Pierce for their comments, rmd Mani.ca Fri.u fot hc-r ;.1Ssi'sl.;11u·,~
in prrparing nonmember bank reserve data.
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int~cbank dcp,•sit flow depend on Lhc rntlo of deposits
banks to total deposlts,
iJt
member
This ratio declines as member banks leave
the Federal Rc~crvc System .. llcncc, the tm:Jlyst s indic.otcs how
continuing member hank attrition c'an ba predicted to influence the
Federal Reserve's ability to control the money !Hock.
It should be noted that Lite analysls is not directed
towards problems associated with the measurement of nonmember deposits.
Such problems arise in connection with the determination of what
tbe money stock actually!!,
Rather, this memo deals with problems
relating to the predictlon of the money stock for a given level
of the total reserves operating target,
Even if the nonmember
measurement problem were satisfactorily resolved, the money stock
prediction problem arising from the dual_ banking system would remain.
NoMtember· Banks and Monetary Control
The nonmember bank source of monetnry control error arises
because of the exlstence of signiflcant dlfferenccs in the reserve
requirements of member and nonmember banks.
These differences in
reserve requirements are due not so much to different required
reserve
!.!!!.2!
but rather to the types ~f reserve .:assets which
nonmember bank::i can use to satisfy their rcRervc obli&iltions :u;
compared to member banks.
11u! principal nonmember reserve !!!.!.!:.!
are correspondent balances held at member banks and interest~bearlng
government securities.
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A model of the money supply process which
341
incorporates the salient. features of member and nonmember hanks
and provides analytical solutions for the n.arrow money stock (M 1 )
is presented in Appendix I.
Before showing precisely how the structure of nonmember
reserve assets leads to pronounced di f ferenti a 1 reserve requirements,
a bri_ef example is necessary to illustrate the role played by reserve
requirements in the presence of (unexpected) interbank deposit flows.
Consider ti.Jo member banks with hypothetical required reserve ratios
against demand deposits of . l and . 2.
If the public unexpectedly
transfers $1 of deposits from the high reserve ratio bank to the
low reserve ·ratio bank, the first bank loses $1 of reserves and
experiences 80e! of reserve pressure, while the second bank gains
$1 of reserves and has 90l of excess reserves.
Thus, for the banking
system as n whole. 10,! of excess reserves arc created.
If both
banks exhibit similar portfolio behavior and if the money ~tock
had been following its targeted path, the lOt! of excess reserves
will lead to an (unexpected) increase in the money stock above
its targeted path as the banking system creates additional loans
0
and deposits on the basis of positive excess reserves.
Obviously,
the closer are the interbank reserve requirement ratios, the smaller
is the imluccd increase in the money stock ;uising .Crom the unexpected
interbank deposit flow.
In the event that the two reserve ratios
are identical, one bank I s reserve pressure (and induced deposit
contraction) matches the second bank's excess reserves (and ind 11 ced
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dc.-poslt C'<p,-,nsfc,n) .c:,, th,11 n11 net thl~ 11mnc-y slnrl< n'm.:1f11s 1111 Its
targcLed path.
Thus, identical reserve requirement ratios (theo-
retically) afford c('lmplc-tc prntecti<,n .1g.1inst unrxpC'cted interbank
deposit flows.
As a result, the Federal Reserve experiences no
impairment whatsoever in its ability to control Lhc moncy stock.
Under a total reserves operating target, the relcv.ant
reserve ratio for monetnry control purposes is that which ultim,1tely
connects a bank's ckpoRit liilhilitics to Lh~ l<"vel of toliJl b,:mk
reserves which the Fc-deral Reserve predetermines in the short·run.
Member banks' re qui.red reserve ra tics, of course, define the connec-
tion between their dt'posit liabilitic~ and Lotal rr.scrvcs.
nonmember banks, however,
~
stepR arc involved fn linking their
deposit liabilities to total reserves.
member required reserve ratio.
Fur
The first step is the non•
The second step dapcnds on the!
relative amo,mt~ of nonmember reserves held in the fo'fm of corres-
pondent balances and government securities.
With respect to corres-
pondent balances, the connection between nonmembers I deposit liabilities and total reserves is deter_mined essentially by multiplying
the nonmember required reserve ratio (which gives total nonmember
required .reserves that are redcposi ted as correspondent balances
at member banks) times the member required rcserve ratio (which
yields total member required reserves held against nonmember corres-
pondent balances).
reserve
~
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For example, if member and nonmember required
are identical and 12qual, say, .2, and if all nonmember
343
deposits in
.1
nonmember b.1nk woulcJ be supported by only 4~ (.2 x ,2)
of total rcst•rv11i;, ,111 ,,mnunt signifi.c:mtly s1n.1llcr than Lhc 20i of
support given Lo $1 deposited in a member hank~
Nonmember holdings of government securities ,1s reserve
assets create An even more disparate set o( interbank reserve requirements since such nonmember reserve assets arc not tied at al 1 to
either mcmher b,,nks ·nr the Fcdr.r:,l ~Ci:.('rVC'.
JlcncP,
tt, the C':<lc•nL
that nonmember banks hold government securities as reserve assets,
nonmember deposit liuhilitics bear a zcr~ connection to total reserves.
Thus, wh;Jt at first appears to be identical interbank reserve requirements (.2 required reserve ratios) turns out lo be a widely divergent
set of reserve requirements for monetary control purposes ( .2 for
menibers, .04 fnr nnnmcmher cl,rrcspondcnt balnncci:;, am.I O for nonmember government securities).
Given these <lif(crcnt Lal intC'rhank
reserve requirements. ~n uncr..pcctcd public real locathm of dcposi ts
between member and nonmember banks can lead to a significant surge
or contraction of the money stock in relation to its targeted path.
Unexpected Interbank Deposit Flows
nrpo~i t (lnws bt"twccn nu.•mbcr and nonmcmhl'"r h:mk!l c;,n he"
considered over weekly. monthly, or quarterly time intervals.
To
provide a foe a 1 point for anc1 lyzi ng short-run mone tnry control.
this memo exami ncs only month Ly deposit flows.
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Some monlh ly dcpl>si L
344
!lo\..'£ occur n•~·11l:irly; r.r,mc d" not.
Fen· c-xamplc, part of the inter-
bank flow of dC'pn~it~ m:iy be due to seasonal factors, such as house-
holds with nonmember ;1cc,1tmts paying N.Y. tlcpartmt!nl sto['CI with
member :tccounts at Chrir.tni.1s.
Thc~i:;c dcposJL flClWR ,,lLcr the t,,tal
volume of nonmember reserves and, as a result, could affect the
total. money stock.
Hut as long as the Federal Rt?servc can predict
the magnltude of the lnterhank deposit flow, it can always change
total bank reserves to offset any undesired effect of interbank
flows on the money stock.
ln short, that component o( interb:mk
deposit flows which is predictable does not (at least theoretically)
lead to monct ary contro I rli f fl cu 1 t il"S f nr l hr. Federal RC'st'!rvc-.
The- SPComl c:ompnncnt of lnlcrhank clrplHii t. flo"u; iR by
definition nant.lom L'r unpredic labl C!.
"!h Is cnmpuncnt .lriscs £1.,r a
wide varicly of factnr~, all of which escilpc notice because they arc
either quite irregular or too smnll in magnitude.
If sufficient
data on nonmember hanks were availnhlc. lhc data cnuld be processed
by different methods (e.g., regression, time neries analysis, etc.)
0
in order to determine a s closely as possible the regular (predictable)
patterns inherent in interbank deposit flows.
The remaining part
of the interbank deposit flows w1.,uld be treated as random or unpredict-
able.
This procedure would ultin1ately lr.ad to an ef'timate nf the
standard deviation of ~he unexpected cumpotlt'nt nf the interbank
deposit flow.
111fs e~t imale fn turn coulJ bf' used Lo l!Stoblish n
range for the unavoidabl~ erratic behavior in the money stock induced
by random interbm1k d ..,posi.t. flnws.
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UnCortun:1tC'ly, comr,lete dntol on nonmember banks!/ :ls
available for only four statement weeks every year.
These dat.:1
are too dispersed over time to permit an accurate dctcrmtnnti.on
of the standard deviation of the random component of interbank flows
which would be relevant for monetary policy aimed at monthly control
over _the money stock.
Given the lack of nonmember bank data,
indirect estimates of the size of such flows can nonetheless be
acquired from an elementary probability model which describes the
essential characteristics of random interbank deposit flows.
Since
the final estimate of the standard deviation of the deposit flows
depends on the probability distributions used, this approach captures
!!!!!I.
purely
~
behavior_!/
In short, the various economic
factors which could explain the predictable component of the interbatik deposit flows are by definition excluded from the probability
analysis.
Of course, the structure of the economy in which these
deposit flows occur is unquestionably more complicated than that
specified in a relatively elementary probability model.
This caveat
simply means that th~ probability model provides only a skeletal
!/
Nonmember bank data, made available with only a short-time lag,
also permits the Federal Reserve to acquire information more
quickly about the size of its actual prediction error on interbank deposit flows. Given such information, the Federal Reserve
would be able to respond faster to observed random interbank
deposit flows, thereby keeping the money stock closer to its
targeted pnth.
!/
Available aggregate information is used to provide estimates
of some parameters of the various probability diatrlbutions.
Where aggregate information is not available, the most conservative parameter estimate is used.
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346
ciutline of the so\Jrce!i of uncertainty in ram!om interbank deposit
flows.
Henca, the reported estimates should be regarded as tE"ntative.
Appc-nrltx ll presents a dl•t:ai lr.:J dcscripLion of thr variou:1
assumptions employed in constructing the estlm.,le or Lhe standnrd
deviation of nmdum illtcrbank deposit flows.
Briefly I these assump-
tions_ deal with the probability of the follc>wlng r.vcnls Lakini: place:
(1)
the deposit of a given check in a member or nonmember bank;
(2)
the writing of a check by a particular individual;
(3)
the income level of the individual writing a given check.
It is also assumed that the minimum check size is $10, and the maximum
is $1 million.
On the basis of most recent data, the estimaled
average check size is $1,049.
Finally, of the tot;il number c>f checks
written per month, the proportion k (the ratio of deposits at member
bankb to total deposits) is ass~med to be written on member bank
accounts and (1-k) on nonmember accounts.
On the basis of the above assumptions, the standard devia-
tion of the random deposit flow over one month, say, oz can be directly
related to k, the ratio of deposits at member banks to total deposits,
Table 1 presents the value of one standard deviation of the deposit
flow for alternative values of k.
Notice that the standard deviation
is largest ($640 million) when k • \ and is also symmetric around
k = lj,
At the December 31, 1976 call date, k
~
. 75.
Corresponding
to this value of k, the one standard deviation value for the random
interbank deposit flow is $555 million, and the two standard deviations
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347
value is $1,110 milliun.
Under the present mcmber-nonmc>mbcr composi-
tion of the banking system, therefore, it can be inferred from these
estimates that in eight months out of the year the size of the random
deposit flow bC'twecn member and _nonmember banks ,,muld he no lar~car
than $555 million; and in about 11\ months such flows would be no
larger than $1, 110 million.
TAilLE l
STANDARD DEVIATION OF RANDOM DEPOSIT FLCMS BE'IWEEN
MEMBER AND NONMEMBER BANKS
k (Proporlion of DepoSits
at Member Banks)
Oz (Standard Deviation of Deposit
Flows
millions
.10
384. 822
.20
.30
.40
513.096
.so
.60
• 70
.80
.90
587.826
628.412
641.371
628.412
587.826
513.096
384.822
The Estimated Monthly Error in Ml Due to Random Interbank Deposit Flows
The (annualized) mcmthly percentage deviations of the
,.
money stock (M 1 ) from a targeted level of $330 billion are estimated
from the model o[ the banking system used in conjunction with the
estimated standard deviation of the random interbank deposit flows.
The Ml percentage dcviati~ns corresponding to one standard deviatinn
of the random deposit flow are presented in Table 2 for alternativ,~
40-915 0 - 79 - 23
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'Jl\111.I·: ?.
l'l::RCENTAGI:: ERRORS lN MUNTIILY M1 GROWTH RATES ASSOCIA'IF.D
WITH ST1\NJ1ARIJ l::RRORS OF TIIE RANDOM
TNTERBANK DEPOSIT FLCMS
k (Proportion of Deposits
at Member Banks)
o
7.
(Standard Deviation-;{ Deposit
Flows) /in millions)
.5
.6
.7
.8
.9
values
c,(
k.
6.30
5.56
4.75
4.05
3.44
2.88
2.34
1.83
1.23
384.822
513.096
587.826
628.412
641.371
628.412
587.826
513.096
384. 822
.1
.2
.3
.4
Al the prrsC'nl -tiny v<1lm'
n[
Percentage
Error
k (. 7,). L111• cu1-r,•spo11dlnF,
monthly M1 growth rate error is approximately 2.17..
Previous
reseat;ch suggests that under a total reserves operating target, the
monthly
~1i
l(rowth rate error, attributed to all potential sources
of random heh.wior. is ;ipprnl<imatelyl/ 7.17...
For comparable present-
day values of k, therefore, the estimatrd M1 grnwt:h r"t<' errnr (2.1%)
due ;"Olely to random Interbank flows lies within the ahovc total M1
growth rate error range.
This internal consistency of the two M1
growth rate errors raises the credibility of the simulation procedures
used in this memo.
The moMt;iry cc,ntrol implications r:,f cc,ntinuing memher
bank attrition fol low immr.dl atcly from inapection of Tahle 2.
'J_/
I[
This estimate is derived from the Staff Report, "Analysis of
the Impact of Lagged Reserve Accounting," October 6, 1977.
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Federal Reserve Bank of St. Louis
349
k were to fall frwn its present-day value of .75 to, say .4, the
range of the monthly percentage money gr.,wth rate error for two~
thirds of the months would almost double from 2. 1 percent to 4 .05
percent.
In fact, for 95 percent of· the month•, the pcrce11tage
error would lie between plus or minus 7.93 percent.
Two factors
expl~in this predicted increase in the mnncy grnwl.h rate error,
First, ask falls from .75 to. ,4, the standard dcvl.,tinn n( th1• randon,
deposit How rises by about $75 million.
Secondly, and more impor-
tantly, the average required reserve ratio for the aggregate banking
system falls as k declines to .4.
Essentially, this decrease in
the average-reserve ratio occurs because deposit dollars at nonmember
banks bear a smaller connection to the Fed's total reserves than do
deposit dollars at member banks.
Since a decline ink makes nonmembers
rel:atively more important in the aggregate than mcmbC'rs, the average
effective reserve ratio becomes increasingly duminated by the reserve
~
and reserve~ structure of nonmember banks.
To illus-
trate this point more clearly, notice that for k = • 9 and k = .1 the
standard error of the deposit flow is the same; but the percen_tage
error is 1. 2 3'7. at k = • 9 and 6. 307, at k" . 1.
.. In conclusi-on, this memo has presented models o_f the aggregate banking system and the public's check-writing and check-depositing
behavior .to determine the monetary control effects of random depoait
flows bet,..een member and nonmember banks.
The reported money grr,wth
rate errors tentatively suggest that under a total reserves operating target
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350
ln the Federal Rcservc's ability tc, achieve lts desired short-run
monetary growth objectives.
The resulls also strongly indicate t.hat
the deterioration in monetary control would become progressively
more serious ask continues to fall via member bank attrition from
the federal Reserve Syslem.i/
if
It should be noted that this result does not hold for all values
of k less than .1. If Table 2 were extended to •how values of
k less than .1, the percentage error would continue to increase
and would reach a maximum value of 6.387, at k ~ .079. Thereafter,
the percentage error would decline. In the limit ask approaches
zero, the percentage error also approaches zero. This result
occurs because at small values of k the variance
the random
interbank deposit flow falls at an increasing rate, while the
denominator of the multiplier solution for M1 declines linearly,
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0
of
351
APPENDIX
A Model of Lhc Hanking Sys tc-m
The model is an extension of the standard deposit multiplier_ model and describes the beh3vior of four tr3nsactors dc3llng
in five financial instruments.
The transactors are the public (P),
the Federal Reserve (F), member banks (M), and nonmember banks (NM).
The financial instruments include demand deposits (D), time deposits (T),
currency (C), government securities (G), and reserves (R).
To keep
track of th~ asset-liability status of each financial instrument, a
superscript denotes an asset and a subscript a liability.
The model
also assumes that the Federal Reserve has a total reserves operating
target.
Finally, the variable cmt is used to denote a random alloca-
tion of the public's demand deposits between member and nonmember
banks.
The equations of the model are as follows:
p
DM
p
DNM
( 1)
DP
(2)
Tp :' 1"Dp
public's demand for time deposits
(3)
cP.
µ.DP
public's demand for currency
(4)
DP
M
k DP +
(5)
Tp = k TP
M
+
public's total demand deposits
F
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Federal Reserve Bank of St. Louis
C
DM
public's allocation of demand deposits
public's allocation of time deposits
352
p
I'
_(6)
·l
TM
(7)
DM
DP+ NM
DM
M
(8)
R
(9)
DNM ~
(10)
RNM = 0 NM + GNM
M
composition of nonmembers' reserves
(11)
NM
P
= An DNM + AT TNM
R
nonmembers' demand for reserves
( 12)
GNM
+
public's tot~l tim~ deposits
TNH
= PMD DM + PMT
composition of members' demand deposits
Tp
M
p
om,
O'RNl-1
supply and demand for members' reserves
composition of nonmembers' demand deposits
nonmembers' demand for government
securities
Equations (1)-(6) describe the behavior of the public.
The time deposit and currency equations, (2) and (3), follow the
standard prescription by making Fhe public's demand for each a$set
proportir,nal to the public's holdings of demand de"posils.
With
respect to the allocation of the public's demand deposits between
member and nonmember banks, we assume proportionality on average
to total demand deposits so that on average k of demand deposits
is allocated to members and 1-k to nonmembers.
1'he same proportionality
factor, k·, is assumed to hold for the public's allocation of time
deposits between member and nonmember banks.
Equations (7)•(8) refer to member banks and the Federal
Reserve,
R represents the predetermined level of the Federal Reserve's
total reserve operating target.
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Federal Reserve Bank of St. Louis
The correspondent-type balances
353
held by nonmembers at members are captured in (7).
The required
reserve ratios against demand and time deposits are pHD and pMT'
respectively.
The key feature in the model is the link which connects
nonmember banks to the Federal Reserve.
As (7) and (8) shc,w, the
link is established essentially because member banks must hold reserves
against a liability, D~H• that also serves as a nonmember reserve
asset.
The behavior of nonmember banks is described by equations
(9)-(12).
Nonmembers' required reserve ratios against demand and
time deposits are A0 ·and AT' respectively.
Equation (10) shows that
nonmembers have the option of holding demand deposits at member banks
and Sovernment securities as reserve aRsets.
Tite relative amounts
of each asset which can satisfy nonmember reserve requirements vary
state by state according to the regulations issued by the diffl!rent
state banking commissions.
For simplicity, it is assumed that the
aggregate proportions of nonmember reserves in the form of government
securities is a.
This assumption implies that the proportion of
nonmember reserves held as correspondent balances at member banks
is
t-a .
., The model's solution for M1 is
(l+µ.)CDM P~mll - (1-a):I.DJ
DEN
(13)
where DEN
purposes, the following values for the model's parameters, based on
averages of th<' most recently avail,able data, were use<!:
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Federal Reserve Bank of St. Louis
. AD = .113
i)
µ
.35
v)
ii)
T
2 .14
vi)
AT
iii)
PM!)
vii)
a• .35 .
iv)
PMT = .033
.127
.044
354
APPENDIX II
The Standard Deviation of Random InterLank Deposit Flows
Assumptions
The analysis is based on the following assumptions:
(Al)
Binomial (Independence) Assumption
Let k denote the underlying average ratio of member bank
private demand deposits to total private demand deposits.
It is
assumed that the prdbability that a given check will be depodted
in a member 'bank is equal to k and that if it is not deposited at
a member bank, it is deposited in a nonmember bank with the complementary probability of l - k.
It is also assumed that the check
mo~ements arc independent from one check to the next.
Thus• the
number of checks deposited at member or nonmember banks follows a
binomial distribution with parameter k.
If, for example, 10 checks
are written on some account per month, the expected number of checks
deposited at member'banks that are drawn on this account equals
lOk
with standard deviation
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Federal Reserve Bank of St. Louis
.,/ lOk( 1 - k) •
355
Table 3 displays values of this standard deviation for
alternative values .,f k, the underlying proportion of member demand
deposits to total demand deposits.
TABLE 3
STANDARD Df.VIATillN or CHECKS DEl'OSITim AT MEMBER DANKS
PER MONTH GI VEN 10 CHECKS PER MONTH
k
Standard Deviation of the Number of Checks De osited at Member Danks
1
0
.9
.B
.7
. 95
1.26
l. 45
l. 55
1. SB
1.55
1.45
1. 26
. 95
0
•6
•5
.4
.3
•2
.1
.0
As would be expected, the uncertainty concerning check flows is largest
when nonmembers rival members exactly, thnt is, when k= .S; the variance falls off symmetrically above and below Lhis value.
(A2)
Independence Across Depositors
Suppose the sequence 0£ checks written in a given month
on member bank accounts is
arrayed in some order:
the second check, and so forth until the last check,
the number of deposiLors
.:it
member banks.
the first check,
Let Nm be
The checks may be viewed
as a sequence of independent trials for each of which the probability
that the check was written by any particular one of the Nm depositors
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Federal Reserve Bank of St. Louis
356
ls 1/:lm.
Similarly, lt I• assumed that for nomnemher banks it is
equally likely that each depositor wrote any check in the sequence
of checks written on nonmember accounts in a given month.
(A3)
The size of each check written by an indiviclual is a function
of the individual's income.1/
(A4)
The aggregate distribution of income in the economy is assumed
to follow a truncated Pareto distribution~_/ with minimum income level,
y0
,
and maximum income level, y 1 .
TI,e Pareto distribution hos often
been used to represenot the distribution of incomes in an economy and
has several convenient features for our purposes.
A~ a consequence
of this assumption, it follows that the size distribution of checks
in the economy also follows. a Pareto distribution.
This result follows
from AJ and A4 using the property of Pareto distributions that ·transformations of variables of the form (1) (see footnote 5 below) also
have a Pareto distribution,
(AS)
The total number of checks written per month equals 2.975
billion.
Of this numher, the proportion k are assumed to be written
on member bank accounts and (1 - k) on nonmember accounts .
.. This total estimate was derived by toking demand deposits
(excluding U.S. 'government and domestic interbank) at the last
2f
More specifically, if y ls income, any function of the form
(1)
t = by 3
where T
2I
= check
A>
0, b > 0,
size, will work.
The truncated Pareto distribution is described on page 20.
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Federal Reserve Bank of St. Louis
357
available call dale- {Dt!CC'mbcr 31, 1976) and.applying check volume
estimates from FDIC surveys of 10 million checks per month per l.
billion of deposits.11 For that call date
member bank deposits
nonmember bank depo.si ts
total
$223.307 billion
74.212 billion
$297 .. 519 billion
=
or
lO million
l billion
x
297.519 billion
yields the figure of 2. 975 billion checks per month,
(A6)
The average check size equals total monthly debits against
demand deposits divided by the number of checks per month,
11
y
$3 1 119,780 million
2,975 million
"
$1,049
~,
i.e., the average check size is ·$1,049.
(A7)
It is assumed that the minimum check size in the economy is
$10 and the maximum check is $1 mlllion.
Based on this assumption,
the standard deviation. of the Pareto distribution of check size,
say, a
y
equals $16,613.2/
The FDIC estimates for 1973 were 10.8 million checks per month
per 1 billion deposits, Inflation should tend to reduce the
number of checks relative to deposits, so this slightly smaller
rate Was chosen.
~/ Estimates for July. 1977 from the new national sample of debits.
2/
This calculation is discussed on page 21.
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The Standard Deviation of Deposit Flows
Given Al-A7, the standard deviation of the random deposit
flow between mcml,cr and nonmember banks equals lO/
az =
✓
nk(l -k)[µ. 2 + 20 2 ] ,
y
y
wheren
= the number of checks per month
k
= proportion of total demand deposits at member banks
.µ.y
= averaie size of check written
oy
stnndard deviation of check size distribution.
At the December 31, 1976 call date k =. 75, and substituting this
and the other values into the above expression yields
oz (givenk=.75) =
J2.975xl09 x.75x.25[1,049
2
.
21
+2xl6,616
·
= $555 million.
Properties of the Truncated Pareto Distribution
Let y be a random variable that is distributed as truncateg
Pareto wi,th lower limit y O and upper limit y 1 . The density function
of y is
!QI The derivation of this result is presented on pages 22-24.
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Federal Reserve Bank of St. Louis
359
f(y)
The mean of .y is
(15)
E[y]
h
= P-1
y y (Y~-1 - i-1)
o
[ o l l
~
-
~
l
.
yl - Yo
.
The second moment of •y is
(16)
and, the variance,
ll
2
y, equals
(17)
Given values for y0 a'nd yl and E(y), equation (15) can be solved to
obtain values for~-
The implied values of~ and oy are listed in
Table 4 for alternative values of y 1 given y 0 = $10 and E(y)
~
$1,049.
TABLf. 4
y 1 (Upper Limit)
$1
million
$100 million
$1
billion
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Federal Reserve Bank of St. Louis
~ (Pareto Parameter)
o
Y
(Standard Devintion
of Check Size)
• MV
$ 16,616
.792
. 8316
$136,870
$397,887
360
Derivation of a
Let n be the total number of checks written per month.
Let n and n denote the number of checks written on member and
m
n
nonmember bank accounts.
In view of assumption (AS),
n = kn
m
nn
(1-k)n
Let z
be the dollar amount of checks written on member accounts
mn
which are deposited at nonmember banks and znm be the dollar amount
of checks written on nonmember accounts "'hich are dE'pos'ited _at member
banks.
The.random variable, z
z = zmn - z1111
represents the "net" outflow of deposits from member to nonmember
banks.
The variable, z, takes on both positive and negative values
depending on the relative magnitudes of zmn and z •
nm
., xi
Yi
-t
-
Now
i th check goes to member bank
1 th check goes to nonmember bank
size of 1 th check
Since x 1 and y 1 are assumed to be independent and identically distributed for all 1--see (Al) and (A2)--the variance of zmn
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11
02
?.
=
mn
m
E
var(xi Yi)
i=l
"m E(xy. µ
where
X
µ )2
y
x denotes an arbitrary x1
y denotes an arbitrary y 1
Furthermore,
( 19)
1')•2
E[xy·I\
= E(xy - µxy)
= E(/):12
X
= E[xy-µxy+µ~.µx µYJ
·2
+ E(µxy - µxµy)
+ µ2
X
0
2
2
+ 2 E(xy - µ,?' )(µxY • µxl'y)
2
y
cly + o y2 >a2X + / X o y2
=
Thus,
(20)
02
z
mn
Since x satisfies
µx ;. (1 - k)
o 2X = k(l - k)
(20) is replaced by
(21)
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Federal Reserve Bank of St. Louis
0'2
z
• n [ / k{l•k)
mn
m y
+ (l•k>2 o y2 + k(l•k)oy2 }
362
By a symmetric argument
(22)
Hence,
(23)
02 = 02
z
2
2 2
2
zmn + a znm = kn(ly k(l - k) + {l - k) o y + k{l - k)o y ]
+ {l - k)n(µ. y2 k(l - k) + k 2o y2 + k{l - k)a2]
y
• n
µ.2y
k{l - k)
+ 2n k(l - k)cr2y
. r, 2+ 2oy2]
= nk(l - k) l:Y
which corresponds to the expression for oz on page 21.
Chairman REUSS. Mr. Wylie.
Mr. WYLIE. I thank you, Mr. Chairman.
Chairman Miller has been outstanding as usual and has been
very generous with his time, but I would like to pose a series of
questions for his opinion and for the record on the impact of the
no-reserve requirements policy with reference to certificates of deposit of 29 days or less, and also the tax expenditure consequences
of the exemption of the so-called repurchase agreements from reserve requirements. I have those questions which I will submit.
Mr. MILLER. That will be very helpful. Those questions should be
examined.
[The following are written questions which were submitted by
Mr. Wylie to Chairman Miller:]
Question 1. Some of this material is fairly difficult to digest, as you can guess. We
have heard, for example, that as an administrative matter, or for some other
reason, the Federal Reserve does not require reserves on certificates of deposit of 29
days or less. Is that correct? If it is correct, have you, or can you develop, reliable
estimates of the tax expenditure effects of that exemption?
Answer. According to the Board's Regulations D and Q, certificates of deposit
issued by member banks must have an original maturity of 30 days or longer.
Deposit obligations of member banks with original maturities of less than 30 days
are classified as demand deposits and thus are subject to a reserve requirement
ranging from 7 to 16¼ percent-depending on the amount of the bank's net demand
deposits-and cannot bear interest