District Circular Letters
October 29, 1999
REG D: LOW RESERVE TRANCHE ADJUSTMENT
To Depository Institutions
in the Twelfth Federal Reserve District
The Federal Reserve Board has announced a decrease from $46.5 million
to $44.3 million in the net transaction accounts to which a 3 percent
reserve requirement will apply in 2000. This adjustment is known as the
low reserve tranche adjustment.
The Board has also changed from $4.9 million to $5.0 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. The deposit
cutoff level will increase from $81.9 million to $84.5 million for nonexempt
depository institutions and from $52.6 million to $54.3 million for exempt
depository institutions.
For depository institutions that report weekly, the low reserve tranche
adjustment and reservable liabilities exemption adjustment will apply
to the reserve computation period that begins Tuesday, November
30, 1999, and the corresponding reserve maintenance period that
begins Thursday, December 30, 1999.
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 21, 1999,
and the corresponding reserve maintenance period that begins Thursday,
January 20, 2000.
Copies
Copies of the Board's notices 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 (for Docket
R-1046) document number 4245. Board notices are also available via
the Federal Reserve Bank of San Francisco's Internet site.
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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