Fr 2915

Board of Governors of the Federal Reserve System

Instructions for the Preparation of

Report of Foreign (Non-U.S.) Currency Deposits
Reporting Form FR 2915
Effective June 2021

INSTRUCTIONS FOR THE 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.) currencydenominated deposits held at U.S. offıces of the depository institution, converted to U.S. dollars and included
in the Report of 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; and
then sign and return the report. Otherwise, please complete the entire report.

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
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
form). Please note, however, that for the FR 2915, these
FR 2915

Procedures for converting foreign currencydenominated 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 noon buying rates certified by the
Federal Reserve Bank of New York for customs purposes published on the Board’s H.10 Statistical
Release, “Foreign Exchange Rates,” 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 corGEN-1

June 2021

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

responding 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).

FR 2900), non-U.S. includes Puerto Rico and U.S. territories and possessions.

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.

Supplementary instructions for FR 2915 Item 3, Cash
items in process of collection: Report in this item only
those cash items in process of collection as defined for
Item B.1 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.

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

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June 2021

Item Instructions
For definitions of items on the FR 2915, please refer to
the instructions for preparation of the FR 2900.

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.

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

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

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

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