Report of Foreign (Non-U.S.) Currency Deposits

FR 2915
Page 2

INSTRUCTIONS FOR PREPARATION OF THE
REPORT OF FOREIGN (NON-U.S.) CURRENCY DEPOSITS
Public reporting burden for this collection of information is estimated to
average .5 hours per response, including the time to gather and maintain
data in the required form and to review instructions and complete the
information collection. Send comments regarding this burden estimate
or any other aspect of this collection of information, including suggestions
for reducing this burden, to Secretary, Board of Governors of the Federal
Reserve System, 20th & C Streets, N.W., Washington, D.C. 20551, and
to the Office of Management and Budget, Paperwork Reduction Project
(7100-0237), Washington, D.C. 20503.

rately for each day of the 7-day reporting week.
Rather, the FR 2915 collects 7-day averages of the
daily data. The attached worksheet is provided to
assist in calculating this average.

Scope

Office Coverage and Consolidation

This report is filed by FR 2900 respondents that offer
foreign currency-denominated deposits at their U.S.
offices. It collects weekly (7-day) averages of the
amounts outstanding of foreign (non-U.S.) currencydenominated deposits held at U.S. offices of the depository institution, converted to U.S. dollars and included in the Report of Transaction Accounts, Other
Deposits and Vault Cash (FR 2900).

Procedures for office coverage and consolidation are
identical to those for the FR 2900. Please refer to the
FR 2900 instructions for details.

If your institution had no foreign (non-U.S.) currencydenominated deposits at your U.S. offices on every
day of the reporting week, please check the box on
the form to indicate that you have nothing to report,
sign the report, and return it to the Federal Reserve
Bank designated at the bottom of the form. Otherwise, please complete the entire report.
Frequency of Report
Respondents shall file the FR 2915 one week each
quarter (March, June, September, and December).
The quarterly reporting week begins on the third Tuesday of the given month and ends on the following
Monday.
How to Report
The FR 2900 collects the amount outstanding of various deposit items (and vault cash) as of the close of
business for each day of the 7-day reporting week
that begins on Tuesday and ends the following Monday. The foreign currency-denominated deposits described above under Scope and converted to U.S.
dollars and included in the appropriate line items for
each day’s data reported on the FR 2900.
The FR 2915 breaks out the amounts of these foreign currency-denominated deposits that are included
in selected FR 2900 line items (specific FR 2900 line
items are referenced on the face of the FR 2915 reporting form). Please note, however, that for the FR
2915, these particular deposits are not reported sepa-

Amounts should be rounded and reported to the nearest thousand U.S. dollars.

Conversion to U.S. Dollars
Procedures for converting foreign currency-denominated deposits to U.S. dollars are identical to those
for the FR 2900. These procedures also are provided
below.
For purposes of the FR 2915 (and the FR 2900), deposits denominated in non-U.S. currency must be
valued in U.S. dollars each reporting week either by
using the exchange rate prevailing on the Tuesday
that begins the 7-day reporting week or by using the
exchange rate prevailing on each corresponding day
of the reporting week.
Regardless of which of the above two options is
elected, the exchange rates to be used for this conversion are either the 10:00 a.m. rates quoted for
major currencies by the Federal Reserve Bank of New
York, or the noon buying rates certified by the Federal Reserve Bank of New York for customs purposes,
or some other consistent series of exchange rate quotations. (If deposits are issued in European Currency
Unit (ECU) or some other currency basket, consistent series of exchange rate quotations either for the
basket, consistent series of exchange rate quotations
either for the basket unit or for the corresponding individual exchange rates may be used.) These procedures will apply to all foreign-currency deposits that
are outstanding during any one day of the reporting
week, including those that are received by the depository institution after the start of the reporting week
(Tuesday) or paid out before the close of the reporting week (the following Monday).
Once a depository institution chooses to value foreign currency transactions by using either the weekly
(Tuesday) method or the daily (corresponding day)

FR 2915
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method, it must use that method consistently over time
for all Federal Reserve reports. If at some future time
thereafter the depository institution wishes to change
its valuation procedure from one of these two methods to the other, the change must be applied to all
Federal Reserve reports and then used consistently
thereafter. Please notify your Federal Reserve Bank
of any such change.
U.S./Non-U.S.
The following definitions also correspond to those
used for the FR 2900.
U.S.: The 50 states of the United States and the District of Columbia.
Non-U.S.: Any geographic area located outside the
50 states of the United States and the District of Columbia. Thus, for purposes of the FR 2915 (as well
as the FR 2900), non-U.S. includes Puerto Rico and
U.S. territories and possessions.
Item Instructions
For definitions of items on the FR 2915, please refer
to the instructions for preparation of the FR 2900.
Supplementary instructions for FR 2915 Item 2, Cash
items in process of collection: Report in this item only
those cash items in process of collection as defined

for Item B.2 of the FR 2900 that are denominated in
foreign (non-U.S.) currency and that are drawn on a
U.S. office of a depository institution.
Exclude from the FR 2915:
1. All deposits held at non-U.S. offices of the reporting institution.
2. All deposits denominated in U.S. dollars, even
if the yields on such deposits are tied to nonU.S. currency.
3. All balances reported on the Report of Certain Eurocurrency Transactions (FR 2950 or
2951).
Consistency Between the FR 2900 and the
FR 2915
Because the FR 2915 segregates certain deposits that
are included in the FR 2900, the same underlying data
for these deposits must be used for preparation of
both reports. Similarly, any revisions to these deposits must be reflected in both reports.

FR 2915
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Attachment
WORKSHEET FOR CALCULATION OF WEEKLY (7-DAY) AVERAGES
FOR THE FR 2915
This worksheet is provided as an aid to respondents for the calculation of the averages. It should not be
submitted to the Federal Reserve Bank.
FR 2900 line item _________________________________
Corresponding FR 2915 line item _____________________
A. Amount (in U.S. dollars) included in the FR 2900
for the above line item:
1. Tuesday ........................................................................................... ____________________
2. Wednesday ..................................................................................... ____________________
3. Thursday ......................................................................................... ____________________
4. Friday .............................................................................................. ____________________
5. Saturday .......................................................................................... ____________________
6. Sunday ............................................................................................ ____________________
7. Monday ............................................................................................ ____________________
8. Total (sum of Items A.1 through A.7 ................................................
B. Average (Item A.8 divided by “7”; round to the
nearest thousand dollars) ......................................................................
Enter this amount in
the appropriate line
item on the FR 2915