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

Board of Governors of the Federal Reserve System

Instructions for Preparation of

Report of Foreign (Non-U.S.)
Currency Deposits
Reporting Form FR 2915
Effective September 2012

INSTRUCTIONS FOR PREPARATION OF

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

Scope
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.) currency-denominated
deposits held at U.S. offıces of the depository institution,
converted to U.S. dollars and included in the Report of
Transaction Accounts, Other Deposits, and Vault Cash
(FR 2900).
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 are 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
FR 2915
General Instructions

September 2012

form). Please note, however, that for the FR 2915, these
particular deposits are not reported separately 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.
Amounts should be rounded and reported to the nearest
thousand U.S. dollars.

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

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 unit or for the corresponding
individual exchange rates may be used.) These procedures will apply to all foreign-currency deposits that are
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General Instructions

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) 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.

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. offıce of
a depository institution.

Exclude from the FR 2915:
1. All deposits held at non-U.S. offıces of the reporting
institution.
2. All deposits denominated in U.S. dollars, even if the
yields on such deposits are tied to non-U.S. currency.

The following definitions also correspond to those used
for the FR 2900.

3. All balances reported as net Eurocurrency liabilities
on the Report of Transaction Accounts, Other Deposits, and Vault Cash (FR 2900).

U.S.: The 50 states of the United States and the District of
Columbia.

Consistency Between the FR 2900 and the
FR 2915

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.

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.

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General Instructions

FR 2915
September 2012

Worksheet for Calculation of Weekly (7-Day) Averages for the FR 2915
This worksheet is provided as an aid to respondents for the calculations 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’’; rounded
to the nearest thousand) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enter this amount in the
appropriate line item on
the FR 2915

FR 2915
Worksheet

September 2012

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