Bank’s Legal Reserve Report

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Part I: Open Deposits and Demand Deposit Accounts

1. Cash on Hand

• Reports cash held in offices of the bank, unrestricted and in U.S. currency only.

2. Checks Drawn by the Bank

• Reports checks or drafts payable immediately upon presentation, including those in process of collection.

3. Other Demand Deposits

3.1 Funds Received or Held

• Funds received or held in connection with traveler’s checks and money orders sold (but not drawn) by the reporting bank.
• Matured time deposits without automatic renewal provisions (unless the deposit agreement provides for the funds to be transferred at maturity to another type of account).
• Borrowings:
  • Federal funds purchased, which are immediately available funds borrowed under agreements or contracts that have an original maturity of one day or less.
  • Other borrowings.

4. Total Demand Deposits

• Reports the total amount of open deposits and demand deposit accounts held by the bank.

Part II: Legal Reserve Report

2. Daily and Weekly Average Demand Deposits

• Reports the daily and weekly average amounts of demand deposits.

3. Regal Reserve Requirement (20%)

• Calculates 20% of the daily and weekly average demand deposits.

4. Daily and Weekly Average Legal Currency

• Reports the daily and weekly average amounts of legal currency held by the bank.

5. Legal Reserve Surplus (Deficiency)

• Reports the difference between the legal currency held by the bank and the regal reserve requirement.

Part III: Total Deposit Reconciliation

1. Total Demand Deposit as of Last Day of Month

• Reports the total amount of demand deposits as of the last day of the quarter.

2. Add: Excluded Items in Demand Deposits

• Public Funds I
• Other liabilities reported as deposits

3. Add: (Deduct) Other Adjustments

• Reports any other adjustments needed to reconcile the line 1 and line 4 of this report, excluding adjustments reported on line 2.a. and 2.b.

4. Total Demand Deposit as Reported in Schedule RC-E, Item 7, Column B

• Reports the total amount of demand deposits as reported in Schedule RC-E, item 7, Column B.

Part IV-VII: Details of Amounts Reported

• Provides a template to report details of amounts reported in Part I line items 2.c, 2.d, 2.e, and 2.f, and for any amount reported in Part II, line item 3.
• The reporting institution may add as many lines needed to provide all necessary details.

Certification

• Reports the name of the responsible bank officer signing the report, signature, and date.