District Circular Letters
 District
Circular Letters Index
December 1, 1998
REGULATION D:
RESERVE REQUIREMENT ADJUSTMENTS
TECHNICAL AMENDMENT
To Depository Institutions
in the Twelfth Federal Reserve District
Low Reserve Tranche and Reservable Liabilities Exemption Adjustments
(Docket
R-1026)
The Federal Reserve Board has announced a decrease from $47.8 million
to $46.5 million in the net transaction accounts to which a 3 percent
reserve requirement will apply in 1999. This adjustment is known as the
low reserve tranche adjustment.
The Board also changed from $4.7 million to $4.9 million the amount of
reservable liabilities of each depository institution that is subject
to a reserve requirement of zero percent.
Additionally, the Board increased the deposit cutoff levels that are
used in conjunction with the exemption level to determine the frequency
and detail of deposit reporting required for each institution from $78.9
million to $81.9 million for nonexempt depository institutions and from
$50.7 million to $52.6 million for exempt depository institutions.
For depository institutions that report weekly, the low reserve tranche
adjustment and the reservable liabilities exemption adjustment will apply
to the reserve computation period that begins Tuesday, December
1, 1998, and the corresponding reserve maintenance period that
begins Thursday, December 31, 1998.
For institutions that report quarterly, the low reserve tranche adjustment
and the reservable liabilities exemption adjustment will apply to the
reserve computation period that begins Tuesday, December 15, 1998,
and the corresponding reserve maintenance period that begins Thursday,
January 14, 1999.
Technical Amendment (Docket R-1024)
The Board has amended Regulation D to remove the definition of "De novo
depository institution." The definition is no longer used in the Regulation.
Copies
Copies of the Board's notices (Docket
R-1026 and Docket R-1024)
are available from our Corporate Services Department. To request copies
to be sent via mail, please call (415) 974-2748. To request
copies to be sent via fax, please call (415) 974-3333,
and specify document number 4114.
Additional Information
For additional information regarding Regulation D (Reserve Requirements
of Depository Institutions), please contact our Statistics Department,
at (415) 974-3149.
FEDERAL RESERVE BANK OF SAN FRANCISCO
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