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FEDERAL RESERVE BANK OF N EW YORK r Circular No. 6 4 3 1 1 L November 5, 1969 J N E W Y O R K C L E A R IN G H O U SE R U LE S C H A N G E Certain “ C ounter C hecks” In eligible as Cash Items To the Member and Nonmember Clearing Banks of the Second Federal Reserve D istrict: T h e N ew Y o r k C le a rin g H o u se A s s o c ia tio n has, e ffectiv e D ecem ber 1, 1969, re v ise d R u le 13 o f its R u les an d R u lin g s on Item s f o r the E x ch a n g es b y a d d in g the fo llo w in g cla ss o f item s as in elig ib le f o r p resen tm en t as cash item s th rou g h the exch an ges: Checks of domestic origin written on blank forms (counter checks) unless they contain in M ICR encoding or other legible form ( 1 ) account number including branch identification, or ( 2 ) full title of account and branch identification. P a r a g r a p h 5 o f o u r O p e ra tin g C ircu la r N o. 4, re v is e d effectiv e S e p tem b er 2, 1969, p r o v id e s th at w e w ill n ot handle an item as a cash item i f the item has n ot been pre p rin te d , o r p o s t-e n co d e d b e fo r e its re ce ip t b y us, w ith the ro u tin g sy m b ol an d the suffix o f the tra n sit num ber o f the p a y in g bank (o r nonbank p a y o r ) in m a g n etic ink in E -1 3 B ty p e in the m an n er p rescrib ed , and at the lo ca tio n assign ed, b y the A .B .A . U n d e r p a ra g ra p h 7 o f ou r O p era tin g C ircu la r N o. 4 w e m ay, in ou r d is cr e tion, retu rn o r handle an item as a n on cash item i f sp ecia l con d ition s so requ ire. W h e n checks draw n on m em ber banks o f T h e N ew Y o r k C lea rin g H ou se A s s o cia tio n d o n ot c o n fo r m to the A s s o c ia t io n ’ s re v ised rules and are sent to us as cash item s, th ey m a y be retu rn ed b y the p a y o r s as in elig ib le f o r the exch an ges. T h e re fo re , m em ber banks an d oth er sen ders are en cou ra ged to fo r w a r d such checks to us as non cash co lle ctio n item s. I f an y such item is sent to us as a cash item and retu rn ed u n p a id b y the p a y o r bank it w ill be ch a rg e d b a ck to the s e n d e r ’ s accou n t an d en tered fo r co lle ctio n as a n on cash item . http://fraser.stlouisfed.org/ Federal Reserve Bank of■ Louis - St. i______ _______ A lfred H ayes, President.