Full text of Roundup : January 1984

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DALLAS
Federal Reserve Bank of Dallas

January 1984

Identity Program Introduced at Dallas Fed
The Federal Reserve Bank of Dallas
has announced a new corporate iden­
tity program which will take effect
January 1. This program is designed to
create a comprehensive and cohesive
approach for the Bank in all its com­
munications efforts and to provide a
single identity to the various aspects

of the Bank’s operations.
“The new identity program will ad­
dress certain issues brought forth by
the Monetary Control Act of 1980,”
President Robert H. Boykin said. “ Im­
plementation of this act has required
that we become more responsive to the
needs of all the financial institutions
which represent our new constituency.
In addition, it is imperative that we

establish visibility as a provider of
services.”
The Dallas Fed’s corporate identity
program will become immediately visi­
ble to institutions and others who
receive any of the Bank’s publications,
circulars or releases. According to
Boykin, the new identity also will be
used in all Bank let­
te rh e a d s, enve­
lopes and business
cards.
A primary com­
ponent of the new
identity program is
a logo which will
sym b o lize
the
Dallas Fed in all
printed materials.
The design se­
lected incorporates
elements from two
primary sources:
U nited
S ta te s
paper currency and
the flags of the
State of Texas and
the United States.
This design was
created to encom­
pass the diverse functions of the Bank,
the region of the country in which it
operates and its national heritage.
Created by an act of Congress in
1913, the Federal Reserve System is
the nation’s central bank. One of its
primary functions is to issue and
distribute Federal Reserve notes,
under authorization of the U.S. govern­
ment. Each denomination of paper cur­

rency in the United States has a seal
located to the left of the portrait in­
dicating which of the 12 Federal
Reserve Banks issued the note. This
seal bears the name and code letter of
that bank. For example, the letter
K —the eleventh le tte r of the
alphabet—is associated with the
Federal Reserve Bank of Dallas and
the Eleventh Federal Reserve District.
This Reserve Bank seal is represented
by the black border of the Bank’s new
logo.
The colors found inside the border of
the symbol represent those in the flags
of the State of Texas and the United
States. The colors of both flags mean
the following: courage (red), purity and
liberty (white), and loyalty (blue). The
State of Texas flag often is called the
Lone Star flag because of a single fivepoint star located on the left side of the
design. The same design previously
was used as the flag of the Republic of
Texas before Texas became a state.
The Lone Star flag was designed by Dr.
Charles B. Stewart and was approved
by Mirabeau B. Lamar. The flag was
adopted by the Third Congress of the
Republic of Texas in Houston on
January 25, 1839.

INSIDE______________
■ SALARY SURVEYS________
■

RESERVE REQUIREMENTS

■

DISTRICT CHANGES

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

Dallas Fed Publishes
1983 Salary Survey Results
The average chief executive officer’s
salary was $71,785 in 1983 for those
banks which participated in the Dallas
Fed’s Officers’ Salary Survey pub­
lished in December. This survey, along
with the Employees’ Salary Survey, is
published each year with both member
and nonmember banks in the Eleventh
Federal Reserve District given the
chance to participate.
The surveys provide information on
the average, maximum and minimum
salaries for 31 official positions and 28
employee positions. Compensation in
addition to salaries also is reported. In
addition to averages reported for all
participating banks in the Eleventh
District, the information is compiled
according to each of nine geographic
areas and according to each of six
deposit size categories.
The Officers’ Salary Survey, for ex­
ample, indicates an average chief ex­
ecutive officer’s salary of $71,785
across the Eleventh District in 1983,
compared to $65,929 reported for this
position in the 1982 survey. Chief
executive officers’ salaries ranged
from a minimum of $18,000 to a max­

imum of $220,000. Persons in these
positions had an average 21 years of
banking experience, with seven years
in the chief executive position. These
positions also included an average
bonus of $13,079, average profit shar­
ing of $7,691, average insurance
benefits of $1,768, and average retire­
ment benefits of $7,369. The survey
also indicates that average chief ex­
ecutive officer salaries varied in 1983
according to geographic area (see
map).
In addition to the chief executive of­
ficer position, the Officers’ Salary
Survey provides data on loan officers,
trust officers, planning officers, con­
trollers and branch managers among
o th e r o ffic ia l p o s itio n s . The
Employees’ Salary Survey provides in­
formation on such positions as paying
and receiving tellers, clerks, machine
operators, bookkeepers, programmers,
custodians, and other categories of
tellers and secretaries.
Additional copies of the 1983 Of­
ficers’ Salary Survey and Employees’
Salary Survey are available upon re­
quest to the Public Affairs Department.

Directors
Announced
The Federal Reserve Bank of
Dallas has announced appoint­
ments to its Head Office Board of
Directors effective January 1.
Robert D. Rogers, president
and chief executive officer of
Texas Industries, Inc., has been
designated by the Board of
Governors of the Federal Reserve
System as chairman of the board
of directors. Rogers replaces
Gerald D. Hines, owner of Gerald
D. Hines Interests, who has
served as chairman since 1981.
Rogers has served as a director
for the Bank since 1980.
John V. James, chairman of
Dresser Industries, Inc., has been
reappointed to the board of direc­
tors and was redesignated depu­
ty chairman of the board.
Dr. Kent Gilbreath, associate
dean of the Hankamer School of
Business at Baylor University,
and Miles D. Wilson, chairman of
the board and chief executive of­
ficer of the First National Bank of
Bellville, have been reelected
directors.
Elvis L. Mason, chairman of the
board and chief executive officer
of InterFirst Corporation, has
been selected by the Board of
Directors of the Federal Reserve
Bank of Dallas to represent the
Eleventh District on the Federal
Advisory Council. The council is
composed of individuals in the
banking industry from all 12
Federal Reserve d is tric ts .
Members meet at least four times
per year in Washington, D.C. to
discuss issues relevant to
economic and credit conditions
as well as general banking
practices.
Each Federal Reserve Bank
has a nine-member board of
directors which oversees opera­
tions under the general supervi­
sion of the Board of Governors.

Transition Period Begins
For Contemporaneous Reserves

■

In the last of a two-part series, Round­
up looks at the transition period
associated with the implementation of
co n te m p o ra n e o u s
reserve
re­
quirements in February.

ning Thursday, Jan­
First CRR Computation
uary 12, and end­
and
Maintenance Periods
ing W ednesday,
January 18.
The first main­
The transition period to contem­
te n an ce period
JAN. 1
2
4
3
5
7
6
poraneous reserve accounting
associated with
will involve a change to two separateCRR implementa­
8
9
10
11
12
13
14
reserve computation periods and will
tion begins Tues­
include carryover provisions to allow
day, February 2,
15
17
16
18
19
20
21
financial institutions time to adjust to
and ends Wednes­
these changes. Under the former
day, February 15.
22
27
23
25
26
24
28
lagged method of accounting for
The corresponding
reservable liabilities, financial institu­
computation peri­
29
30
31 FEB. 1
3
2
4
tions reported both transaction and
ods a ss o c ia te d
nontransaction accounts during the
w ith th is m ain­
5
7
6
same one-week period and were re­
tenance period are
8
9
10
111
quired to hold reserves against those
as follow s: Re­
accounts two weeks later. Under con­
quired reserves on
12
13
16
17
18
temporaneous reserve requirements
nontransaction ac­
co u n ts w ill be
(CRR), required reserves for financial
Contem poraneous Com putation Period
institutions will be based on deposits
calculated during
Lagged Com putation Period
from two separate 14-day computation
the period from
M aintenance Period
periods—one lagged period for non­
Tuesday, January
transaction accounts and one contem­
3, through Monday, January 16. Re­
ciated with the first contemporaneous
poraneous period for transaction
quired reserves on transaction ac­
maintenance period (see table).
accounts.
counts will be calculated during the
During the first year under CRR, the
The transition between these two
period from Tuesday, January 31,
allowable carryover of excess or defi­
methods will occur in January and
through Monday, February 13 (see
cient reserve balances temporarily has
calendar).
February. The last maintenance period
been increased from 2 to 3 percent.
under the lagged method will begin
Because of the overlap involved
Between February 2 and August 2,
Thursday, January 26, and will end
in this transition, it will be
1984, the allowable carryover will be 3
seven days later on Wednesday,
necessary for financial institutions to
percent. Between August 2 and Janu­
February 1. The corresponding com­
keep track of reservable liabilities dur­
ary 30, 1985, the carryover will be 2.5
putation period for both transac­
ing three separate computation peri­
percent. On January 31,1985, the 2 per­
tion and nontransaction accounts
ods in January—once under the lagged
cent carryover provision will be
will be the seven-day period begin­
method and two additional times asso­
reestablished.

s

M

T

w

T

F

■

TRANSITION SCHEDULE
Computation period for:
Required reserves on
nontransaction accounts

Required reserves on
transaction accounts

Corresponding maintenance
period

January 12 — January 18'
January 3 — January 162
January 17 — January 30
January 31 — February 13

January 12 — January 18
January 31 — February 13
February 14 — February 27
February 28 — March 12

January 26 — February 1
February 2 — February 15
February 16 — February 29
March 1 — March 14

1. Last computation and maintenance period under previous accounting method
2. First computation and maintenance period under CRR method

S

Board Approves Transfer of Counties
The Federal Reserve Board has
announced approval of the transfer of
eight counties in Oklahoma from the
Eleventh Federal Reserve District to
the Tenth Federal Reserve District ef­
fective May 1984. The affected coun­
ties are Atoka, Bryan, Choctaw, Coal,
Johnston, McCurtain, Marshall and
Pushmataha (see map). After the
transfer, these counties will be served
by the Oklahoma City Branch of the
Federal Reserve Bank of Kansas City
instead of the Federal Reserve Bank of
Dallas. Operational details about the
change will be announced at a later
date.
The Dallas Fed will continue to serve
the state of Texas, southern New Mex­
ico and northern Louisiana. In addition
to the state of Oklahoma, the Kansas
City Fed will continue to serve northern
New Mexico, Colorado, Wyoming,
Nebraska, Kansas and western
Missouri.

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ELEVENTH FEDERAL RESERVE DISTRICT
(Dallas, Texas)