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F ed er a l R e s e r v e Ba n k

DALLAS, TEXAS

of

Dallas

75222

Circular No. 81-155
July 30, 1981

NEW BULLETIN 11

TO ALL DEPOSITORY INSTITUTIONS IN THE
ELEVENTH FEDERAL RESERVE DISTRICT:
On August 1, 1981, the automated clearing house service now
being provided by this Reserve Bank will be made available to all depository
institutions in this District. As required by the Monetary Control Act of
1980, this Bank, on that same date, will impose a charge for such services.
This ACH service will be made available in accordance with the
terms and conditions of Operating Bulletin No. 11, a copy of which is en­
closed. There is no body of statutory law governing automated clearing
house transactions. In order to provide a safe, reliable, and efficient ACH
service, it is essential that all ACH transactions be governed by a set of
rules. Operating Bulletin No. 11, which becomes effective on August 1, 1981,
designates currently existing rules of the Southwestern Automated Clearing
House Association (SWACHA) and of the National Automated Clearing House
Association (NACHA) as the rules applicable to ACH transactions handled by
the Reserve Banks.
Any depository institution engaging in an ACH transaction, as an
originator or as a receiver, will be deemed to have entered into a contract
with this Bank, a contract embodied by this Operating Bulletin. Copies of
the ACH association rules will be available through SWACHA. Financial
institutions that are not SWACHA members and elect to begin using our ACH
services on or after August 1, 1981, should first notify the Federal Reserve
office serving their territory in regard to establishing settlem ent agreements
and an estimated starting date.
The current time schedule under which ACH services are provided
is included as Appendix A to this bulletin, and a fee schedule is included as
Appendix B. Operating Bulletin No. 11 including both appendices, should be
filed under the appropriate tab in Vol. I of your Regulations Binder.

Banks and others are encouraged to use the following incoming W A TS numbers in contacting this Bank:
1-800-442-7140 (intrastate) and 1-800-527-9200 (interstate). For calls placed locally, please use 651 plus the
extension referred to above.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

- 2 -

Any questions concerning the ACH service or the Operating
Bulletin should be directed a t the Head Office to Mary M. Rosas, (214) 651­
6336, Robert B. White, (214) 651-6123, or B. B. Sessions, (214) 651-6403; at
the El Paso Branch to Robert W. Schultz, (915) 544-4730, Ext. 201 or Martin
Ramsey, Ext. 244; at the Houston Branch to Vernon L. Bartee, (713) 659­
4433, Ext. 45 or Louis Moore, Ext. 21; or a t the San Antonio Branch to John
A. Bullock, (512) 224-2141, Ext. 403 or Pete Castleberry, Ext. 500.
Sincerely yours,

William H. Wallace
First Vice President
Enclosure

BULLETIN 11

Automated Clearing House
Operations

FEDERAL RESERVE BANK OF DALLAS

SCOPE
/

This bulletin contains the terms and conditions under which we will process Automated
Clearing House items.

FEDERAL RESERVE BANK OF DALLAS

BULLETIN 11

TABLE OF CONTENTS
PARAGRAPHS

G e n e r a l...........................................................................................................................................

1-2

D efinitions.......................................................................................................................................

3

Sending Credit and Debit Item s....................................................................................................

4-8

Originator’s Agreements...............................................................................................................

9-11

Applicable ACH R ules...................................................................................................................

12-14

Handling of Items ..........................................................................................................................

15-18

Time Schedules, Settlement Dates and
Extensions of Time L im its.....................................................................................................

19-21

Settlement and Availability of C re d it..........................................................................................

22-27

Settlement Agreem ents.................................................................................................................

28

Receiver’s A greem ents.................................................................................................................

29-30

Revocation of Ite m s ........................................................................................................................

31-33

Return of Items and Funds ...........................................................................................................

34-36

Advices to Account H o ld e rs .........................................................................................................

37

R e c o rd s ...........................................................................................................................................

38-39

P ric in g .............................................................................................................................................

40

Reserve Bank Liability .................................................................................................................
Limitations on liability
Measure of damages
Reserve Bank indemnity
Limitation on claims
Recovery by Reserve Bank
Methods of recovery

41-46

Right to Amend ..............................................................................................................................

47

Appendix A — Time Schedule, ACH Files
Appendix B — Fee Schedule, ACH Items

FEDERAL RESERVE BANK OF DALLAS

GENERAL
1. This bulletin and our time schedules govern
the clearing and settlement of automated clearing
house (ACH) items by this Bank. This bulletin is
issued pursuant to Sections 4, 11A, 13, 16 and 19
of the Federal Reserve Act and related statutes. It
is binding on originators, receivers, and other
parties interested in an item and on each account
holder agreeing to settle for items under this
bulletin. This bulletin preempts or supersedes
agreements or other arrangements among parties
to automated clearing house items only to the ex­
tent that provisions of those arrangements are in­
consistent with this bulletin.
2. Each Reserve Bank has issued a bulletin
substantially similar to this one, containing
uniform provisions concerning interoffice trans­
actions, except that the Federal Reserve Bank of
New York has issued a bulletin providing only for
delivery and settlement of ACH items on behalf of
members of an ACH association. When we send
an item to another Reserve Bank, that Reserve
Bank handles the item subject to its bulletin and
time schedules. We give credit to or charge the
originator or recipient for the item in accordance
with our time schedules.
DEFINITIONS
3. As used in this bulletin, unless the context
otherwise requires:
(a) “Account holder” means a Reserve Bank,
a depository institution, or other institution main­
taining an account with a Reserve Bank.
(b) “Actually and finally collected funds”
means cash or any other form of payment that is,
or has become, final and irrevocable.
(c) “Applicable ACH rules” means ACH
rules, copies of which are reasonably available to
all originators and receivers within an ACH
region that are designated by a Reserve Bank in
its bulletin as applicable to ACH transactions
within the region or between ACH regions. “Ap­
plicable ACH rules” does not include provisions
in ACH rules that are not applicable to transac­
tions under this bulletin because they are in

BULLETIN 11

conflict with regulations and policy guidelines of
the Board of Governors of the Federal Reserve
System or policy guidelines of the Conference of
First Vice Presidents or the Conference of
Presidents or applicable law, and provisions (i)
limiting the rules’ application to members of an
ACH association, (ii) requiring dues or fees (other
than a reasonable fee for copies of the ACH
rules), and (iii) requiring execution of agreements
(such as settlement or indemnity agreements); but
such provisions may bind members of the ACH
association. The bulletin may designate ACH
rules from another ACH region as applicable to a
local region, in the absence of applicable ACH
rules for the local region.
(d) “ Approved medium” means any of the
following writings specified in this bulletin or in
the applicable ACH rules; any form of com­
munications, other than voice, registered on (or in
form suitable for being registered on) magnetic
tape, disc, or other medium designed to contain in
durable form conventional signals used for elec­
tronic communication of messages, or output pro­
duced from this form of communication.
(e) “ Automated clearing house” or “ACH”
means a Reserve Bank or other facility that clears
debit and credit items for depository institutions.
An ACH association may use more than one ACH.
(f) “ACH region” means a geographic area
within which depository institutions are eligible
to participate under certain ACH rules.
(g) “Automated clearing house rules” or
“ ACH rules” means the rules and procedures or
agreements provided by a group of depository in­
stitutions, such as an automated clearing house
association, that comprehensively govern the
clearing of items among participants in an
automated clearing house payment system.
(h) "Banking day” means a day during which
a Reserve Bank, an account holder, originator, or
receiver is open to the public for carrying on
substantially all its banking functions.
(i) “ Credit item” means an item sent to a
Reserve Bank by an originator for debit to the
originator’s account and for credit to a receiver’s
account.

FEDERAL RESERVE BANK OF DALLAS

(j) “Debit item” means an item sent to a
Reserve Bank by an originator for credit to the
originator’s account and for debit to a receiver’s
account.
(k) “ D epository in s titu tio n ” m eans a
depository institution as defined in S 19(b) of the
Federal Reserve Act [12 U.S.C. 461(b)].
(1) “Effective date window” means the
minimum and maximum number of days following
receipt of an item by a Reserve Bank, within
which the date specified for settlement of the item
must fall for a Reserve Bank to settle for the item
based on the specified date.
(m) “Interoffice transaction” means a trans­
action between an originator and receiver that
are domiciled in different ACH regions.
(n) “Intraoffice transaction” means a trans­
action between an originator and receiver that
are domiciled in the same ACH region.
(o) “Item” means a writing contained in an
approved medium that evidences a right to the
payment of money and that is sent to this Bank for
clearing and settlement under this bulletin.
“Item” does not include: (1) an “item” as defined
in S 210.2 of Regulation } that is handled under
Subpart A governing the collection of checks and
other items; (2) an “item” as defined in S 210.26 of
Regulation J that is handled under Subpart B
governing wire transfers of funds; (3) a credit pay­
ment subject to 31 Code of Federal Regulations,
Part 210, governing Federal recurring payments
by means other than by check; or (4) a wire
transfer of securities by this Bank. An item is
deemed to be the same item even if the medium in
which it is contained changes during handling of
the item. “Item” may include a prenotification or
notice in accordance with paragraph 8 or a
return item, adjustment or notice in accordance
with paragraphs 34 or 35.
(p) “ Originator” means a depository institu­
tion or other authorized institution, whether or
not a member of an ACH association, that sends
an ACH item to a Reserve Bank.
(q) "Originator’s account” or “receiver's ac­
count” means the account at a Reserve Bank the
originator or receiver, respectively, maintains or

BULLETIN 11

uses under an arrangement between the Reserve
Bank and an account holder, for settlement under
a bulletin governing ACH items.
(r) “Originator’s Reserve Bank” means the
Reserve Bank office to which an originator sends
an item in accordance with the Reserve Bank’s
bulletin.
(s) “Receiver” means a depository institu­
tion or other authorized institution, whether or
not a member of an ACH association, that is
designated in an item to receive the item from a
Reserve Bank.
(t) “Receiver’s Reserve Bank” means the
Reserve Bank office from which the receiver
directly or indirectly receives an item.
(u) “Settlement d ate” means the date for set­
tlement of an item as provided in this bulletin.
Unless otherwise stated, all references to this
Bank include our Head Office and our El Paso,
Houston, and San Antonio Branches.
SENDING CREDIT AND DEBIT ITEMS
4. An originator domiciled in the territory of,
or authorized by arrangement with this Bank and
maintaining or using an account with a Reserve
Bank for settlement under a bulletin governing
credit and debit items, may send an item to this
Bank.
5. An originator may send an item to us by
electronic means under arrangements with us, or
in the following approved media: 800 or 1600 BPI,
9-track magnetic tape.
The originator must authenticate items sent to us
by codes or procedures we prescribe.
6. Items must be in the format prescribed by
applicable ACH rules. We may handle an item on
the basis of any routing number or other designa­
tion of a receiver appearing in any form on the
item when we receive it. We are not responsible
for any delay resulting from our acting on any
designation of a receiver whether or not the
designation is consistent with any other designa­
tion on the item.
7. Members of an ACH association desiring to

FEDERAL RESERVE BANK OF DALLAS

originate or receive items should arrange for the
association to certify to us in a medium and for­
mat prescribed by us the association's member­
ship, with prompt notice of any change of
membership.
8. An originator shall send to us a prenotifica­
tion of an item as required by applicable ACH
rules. We handle a prenotification or other notice
as an item, except that no funds are transferred.
If the receiver does not maintain or use an ac­
count for settlement under a bulletin governing
ACH items, we return the prenotification to
the originator.
ORIGINATOR’S AGREEMENTS

BULLETIN 11

count during that day. In addition to other
remedies, the originator’s Reserve Bank and the
Reserve Bank holding the originator’s account
have a security interest in the assets of the
originator, and of the account holder whose ac­
count the originator uses for settlement, in the
possession of, or held for the account of, the
Reserve Bank if:
(a) the balance in the originator’s account at
the end of the Reserve Bank’s banking day on the
settlement date is not sufficient to cover the
amounts debited to the account during that day in
connection with credit and debit items; or
(b) the originator suspends payment or is
closed at any time during the Reserve Bank’s
banking day on the settlement date, and does not
have a balance sufficient to cover the amounts
debited to its account in connection with credit
and debit items.

9. By sending an item to a Reserve Bank, the
originator:
(a) agrees to comply with the applicable
ACH rules and that such rules shall govern the
relationships among the originator, the receiver,
APPLICABLE ACH RULES
and other parties interested in the item and
covered by the applicable ACH rules;
12. The following ACH rules, as amended from
(b) authorizes its Reserve Bank and the
time to time, are applicable to transactions involv­
receiver’s Reserve Bank to handle the item in ac­
ing originators and receivers located in this
cordance with the Reserve Banks’ bulletins;
Federal Reserve District.
(cj authorizes the Reserve Bank holding the
(a) For transactions between an originator
originator’s account to debit or credit, as ap­
and receiver, both of which are located in the
propriate, the amount of the item to the
Eleventh Federal Reserve District whether or not
originator’s account on the settlement date; and
either is a member of an ACH association, the ap­
(d)
agrees to indemnify each Reserve Bank plicable ACH rules are the Operating Rules of the
handling or settling for the item for any loss or ex­
National Automated Clearing House Association
pense sustained (including attorneys’ fees and ex­
and the Southwestern Automated Clearing House
penses of litigation) resulting from any action
Association.
taken by the Reserve Bank in accordance with the
(b) For transactions between an originator
Reserve Bank’s applicable bulletin.
and receiver, only one of which is located in the
ACH region described above, the other being
10. The agreement, authorizations, and indem­
located in another ACH region in another Federal
nity in paragraph 9 do not limit any other agree­
Reserve District, whether or not either is a
ment, authorization, or indemnity, not inconsis­
member of an ACH association, the applicable
tent with paragraph 9, made by an originator to a
ACH rules are the Operating Rules of the National
receiver, a Reserve Bank, or another party.
Automated Clearing House Association.
11. By sending a credit item to a Reserve
Bank, the originator agrees to have in its account
13. If applicable ACH rules for a local ACH
on the settlement date, a balance of actually and
region provide for remote origination by
finally collected funds sufficient to cover the
originators located outside the local ACH region,
amounts of credit items to be debited to the ac­
such a remote originator may send items to the

FEDERAL RESERVE BANK OF DALLAS

Reserve Bank used by originators located in the
local ACH region, subject to agreement by that
Reserve Bank as provided in paragraph 4, and
subject to the applicable ACH rules for transac­
tions within the local ACH region.
14. Except as otherwise provided in this
bulletin, we do not have or assume any respon­
sibility for determining whether an originator or
receiver complies with applicable ACH rules.
HANDLING OF ITEMS

15. We process and edit ACH items in accor­
dance with applicable ACH rules. We handle an
intraoffice transaction by sending or making
available an item we receive to the receiver. We
handle an interoffice transaction as follows: The
originator’s Reserve Bank sends an item it
receives to the receiver’s Reserve Bank. The
receiver’s Reserve Bank sends or makes available
the item it receives to the receiver.
16. This Bank sends items to a receiver, or to a
location in the same Federal Reserve territory as
that where the receiver is located at the
receiver’s request, in the following manner:
(a) By the same means and to the same loca­
tion used for sending cash items to the receiver,
or to others, under Subpart A of Regulation J;
(b) By courier to a location not receiving
cash items, if the delivery point is on a Federal
Reserve courier route and, in our opinion, results
in savings through consolidation of payment files;
(c) By electronic means under arrangements
with us;
(d) By the receiver’s picking up the items; or
(e) By mail.
The person to whom delivery is made as re­
quested or who picks up the items is considered to
be the receiver’s agent.
17. This Bank sends items to a location in a dif­
ferent Federal Reserve territory from that where
the receiver is located at the receiver’s request
and expense where, in our judgment, it is ap­
propriate to do so. A receiver that wants such
delivery should submit a request to us.

BULLETIN 11

18. If we expect that an item will not be
delivered to a receiver by the date scheduled for
settlement, we may notify the receiver by
telephone of the information on the item and settle
the item accordingly. A receiver should promptly
advise us by telephone if it does not receive a
shipment of items by the settlement date.
TIME SCHEDULES, SETTLEMENT DATES AND
EXTENSIONS OF TIME LIMITS

19. The time schedule made a p art of this
bulletin shows the cut-off hours for receipt by us
of credit and debit items of various classes. Items
or their accompanying media should specify a set­
tlement date that is within the effective date win­
dow shown for that class of item. If we receive an
item after a cut-off hour, we handle it on our next
banking day unless, in emergency or other cir­
cumstances, we decide ‘ o handle it on the day of
t
receipt. If the specified settlement date is later
than the effective date window, we will not han­
dle the item. Non-accounting entries, such as
prenotifications or notices of changes, are
handled without regard to settlement date if any
is specified.
20. Our time schedule also shows the settle­
ment date for items:
(a)that specify no settlement date;
(b)
that specify a date that is not a banking
day for the account holder whose account either
the originator or the receiver uses for settlement
or for a Reserve Bank involved with the transac­
tion; or
(c) that specify a settlement date earlier
than the date limitation shown in the time
schedule for those items.
21. The time schedule made p art of this
bulletin also shows the time certain operations
are scheduled to occur. We act in a timely man­
ner if we take proper action within the time
shown in our time schedule. If, because of cir­
cumstances beyond our control, we are delayed in
acting on an item beyond applicable time limits,
the time for acting is extended for the time
necessary to complete the action, if we exercise

BULLETIN 11

FEDERAL RESERVE BANK OF DALLAS

such diligence as the circumstances require.
SETTLEMENT AND AVAILABILITY OF CREDIT
22. The Reserve Bank holding the originator’s
account on the settlement date debits or credits
the originator’s account in the amount of the item,
and credits or debits in the same amount the
receiver’s account, or the account of the ap­
propriate Reserve Bank.
23. The Reserve Bank holding the receiver’s
account on the settlement date credits or debits
the receiver’s account in the amount of the item
and debits or credits in the same amount the
originator’s account, or the account of the ap­
propriate Reserve Bank.
24. A Reserve Bank may, at any time until its
opening of business on the banking day following
the settlement date, refuse to permit the use of
credit given for a debit item for which the Reserve
Bank has not received actually and finally col­
lected funds. A Reserve Bank that does not
receive actually and finally collected funds in set­
tlement of a debit item, at or before the opening of
business on the banking day following the settle­
ment date, reverses the debit and credit previous­
ly made in settlement of the item and promptly
notifies the originator and the receiver, or their
Reserve Banks.
25. Credit given by a Reserve Bank to a
receiver for a credit item is available for use on
the settlement date, subject to the Reserve Bank’s
right to apply the funds to an obligation owed to it
by the receiver.
26. A Reserve Bank does not settle for an item
after it receives notice of the suspension or clos­
ing of the originator or the receiver. In the event
of the suspension or closing of an account holder
whose account the originator or receiver uses for
settlement, settlement is made to another account
designated by the originator or receiver.
27. Subject to paragraphs 24 and 25, credit
given by us at once qualifies as reserve for pur­

poses of Regulation D of the Board of Governors of
the Federal Reserve System.
SETTLEMENT AGREEMENTS
28. Prior to originating or receiving items, an
originator or receiver, and an account holder
whose account the institution desires to use for
settlement of the items, must execute a settlement
agreement with a Reserve Bank that maintains an
account for the institution or account holder. The
settlement agreement must provide that in con­
sideration of the clearing and settlement of items
by the Reserve Bank for the originator or
receiver, and for other originators and receivers,
the institution and account holder agree to the ap­
plicable Reserve Bank bulletins governing ACH
items, and to applicable ACH rules, each as
amended from time to time, for the benefit of all
parties interested in the items. A settlement
agreement with this Bank executed by an
originator or receiver and an account holder, if
any, in effect on August 1, 1981, providing for set­
tlement of ACH items is considered to comply with
this paragraph upon the origination or receipt by
such an institution of items on or after such date,
unless such originator or receiver ceases to be a
member of an ACH association.
RECEIVER’S AGREEMENTS
29. A receiver designated in an item, by main­
taining or using an account with a Reserve Bank
for settlement of credit and debit items and by ac­
cepting an item from this Bank:
(a) agrees to comply with applicable ACH
rules and that such rules shall govern the rela­
tionships among the originator, the receiver, and
other parties interested in the item and covered
by the applicable ACH rules;
(b) agrees to handle the item in accordance
with this bulletin;
(c) authorizes the Reserve Bank holding the
receiver’s account to credit or debit, as ap­
propriate, the amount of the item to the receiver’s
account on the settlement date; and

BULLETIN 11

FEDERAL RESERVE BANK OF DALLAS

(d)
agrees to indemnify each Reserve Bank 35. A receiver may send a rejection of
prenotification or notification of change to its
handling or settling for the item for any loss or ex­
Reserve Bank in accordance with applicable ACH
pense sustained (including attorneys’ fees and ex­
rules. Reserve Banks handle these notices or
pense of litigation) resulting from a breach of the
other notices as items, except that no funds are
foregoing agreements or from any action taken by
transferred.
the Reserve Bank holding the receiver’s account
in accordance with the foregoing authorization.
36. We do not have or assume any responsibili­
ty for determining whether the action taken by a
30. The agreements, authorization, and indem­
nity in paragraph 29 do not limit any other agree­
receiver was timely.
ment, authorization, or indemnity, not inconsis­
ADVICES TO ACCOUNT HOLDERS
tent with paragraph 29, made by a receiver to an
originator, a Reserve Bank, or another party.
37. We provide, in a statement, advices of
credit and debit to account holders for items for
REVOCATION OF ITEMS
which they have agreed to settle. Advices of
credit indicate that credit has been given, subject
31. No originator or prior party has a right to
to the provisions of this bulletin. Unless our ac­
revoke an item after it has been received by a
count holder sends to us prompt written objection
Reserve Bank, except as provided for in ap­
to an advice of debit, it is deemed to approve the
plicable ACH rules.
debit on its own behalf and on behalf of an
32. We may, on our own initiative, cease acting
originator or receiver using the account for settle­
on or settling for a credit item if the originator’s
ment.
Reserve Bank judges that there may not be suffi­
cient fluids in the originator’s account on the set­
RECORDS
tlement date to cover the item. We promptly notify
38. Originators and receivers should keep
the originator and a receiver to which we have
records that permit them to resolve questions that
sent an item, or their Reserve Banks, of nonpay­
arise concerning the handling of items. We do not
ment of the item.
keep any copies of items handled after one year
33. We may initiate a reversing batch of items
from the settlement date, and no claim except one
in accordance with applicable ACH rules, if we
based on alleged fraud by this Bank, may be made
discover that we sent a duplicate or erroneous
against us after that time. In addition, after 60
batch of items. We notify the originator and its
banking days, we destroy transaction data on in­
Reserve Bank accordingly.
dividuals contained in our records of items
handled.
RETURN OF ITEMS AND FUNDS
34. A receiver has the right to reversal of
credits and debits made under paragraphs 22 or
23 of this bulletin by returning the item to its
Reserve Bank in accordance with applicable ACH
rules. The receiver’s Reserve Bank sends a
returned item or adjustment to the originator, or,
in an interoffice transaction, to the originator
through the originator’s local Reserve Bank. The
Reserve Banks holding the originator’s and
receiver’s accounts reverse the debit and credit
previously made in settlement of the item.

39. We disclose our records of any item
handled, if the person requesting the information
is a party to the transaction. Otherwise, we do not
disclose records of items handled except in
response to valid grand jury subpoenas or court
orders.
PRICING
40. Our fee schedule shows the charges im­
posed for clearing and settlement of ACH items.
We may make the charge as shown in the

BULLETIN 11

FEDERAL RESERVE BANK OF DALLAS

schedule to the originator’s account or the
receiver’s account or to a correspondent account
designated by the originator or receiver, unless
the originator or receiver is a member of an ACH
association, the association has requested that
settlement of fees be made through it, and the
originator or receiver has not requested settle­
ment of fees be made otherwise.
RESERVE BANK LIABILITY
41. Limitations on liability. This Bank is
responsible or liable only to an originator, a
receiver, or another Reserve Bank, and only for
its own lack of good faith or failure to exercise or­
dinary care. This Bank does not act as the agent
or subagent of another bank or person and is not
liable for the insolvency, neglect, misconduct,
mistake, or default of another bank or person.
This Bank does not make any w arranty with
respect to an item it handles or settles for under
this bulletin.
42. M easure of damages. The measure of
damage for our failure to exercise ordinary care
with respect to an item is the amount of the item
reduced by an amount that could not have been
realized by the use of ordinary care. Where there
is a lack of good faith, the measure of damages in­
cludes other damages, if any, suffered by the p ar­
ty as a proximate consequence.
43. Reserve Bank indemnity. A Reserve Bank
handling or settling for an item agrees to idemnify
another Reserve Bank that handles or settles for
an item for any loss or expense sustained (in­
cluding attorneys’ fees and expenses of litigation)
as a result of the former Reserve Bank’s failure to
exercise ordinary care or to act in good faith.
44. Limitation on claims. No claim may be
made by any person against a Reserve Bank for
loss resulting from the Reserve Bank’s handling of
or settling for an item after one year from the set­
tlement date of the item.
45. Recovery by Reserve Bank. If an action or
proceeding is brought against a Reserve Bank
that has handled or settled for an item, based on:

(a) the alleged breach of, or the alleged
failure to have the authority to make, any of the
warranties, authorizations, and agreements re­
ferred to in paragraphs 9, 29, and 43 of this
bulletin or the alleged breach of applicable ACH
rules, by the originator, the receiver, or another
Reserve Bank; or
(b) any action by the Reserve Bank in accor­
dance with its bulletin,
the Reserve Bank may, upon the entry of a final
judgment or decree, recover from the originator,
the receiver, or the other Reserve Bank, as the
case may be, any amount the Reserve Bank is re­
quired to pay under the judgment or decree,
together with interest, as well as the amount of at­
torneys’ fees and other expenses of litigation in­
curred.
46. Methods of recovery. The Reserve Bank
may recover the amount stated in paragraph 45 of
this bulletin by charging the originator’s or
receiver’s account (or if the item was received
from, sent to, or settled through another Reserve
Bank, by charging the other Reserve Bank
through the Inter-District Settlement Fund), if
(a) the Reserve Bank has made seasonable
written demand on the originator, receiver, or
other Reserve Bank to assume defense of the ac­
tion or proceeding; and
(b) no other arrangement for payment accep­
table to the Reserve Bank has been made.
A Reserve Bank that has been charged through
the Inter-District Settlement Fund may recover
from the originator or receiver in the manner and
under the circumstances set forth in this
paragraph. A Reserve Bank’s failure to avail
itself of the remedy provided in this paragraph
does not prejudice its enforcement in any other
manner of the indemnity agreements referred to
in paragraphs 9, 29, and 43.
RIGHT TO AMEND
47. We reserve the right to amend this bulletin
at any time.

FEDERAL RESERVE BANK OF DALLAS

BULLETIN 11

Appendix A
TIME SCHEDULE
AUTOMATED CLEARING HOUSE FILES
Cut-Off Hours

This time schedule shows the Cut-off hours for receipt by us of ACH formatted files containing debit
and/or credit items of various classes.
_____________________ CLOSING HOURS___________________
Day Cycle
Night Cycle
(Debits & Credits)
(Restricted Debits)*
Monday Through Friday
Sunday Through Thursday

INTER- & INTRA-REGIONAL

Items for any participating institution.
Allows time for remakes of bad files.

2:00 A.M.

5:00 P.M.

Items for any participating financial
institution. Does not allow time for
remakes of bad files.

5:30 A.M.

8:30 P.M.

Items for financial institutions having
routing symbols 1110, 1111, 1112, 1113,
1119, 1120, 1122, 1123, 1130, 1131,
1140, 1149, 1163, 3110, 3111, 3112,
3113, 3119, 3120, 3122, 3123, 3130, 3131,
3140, 3149, 3163. Allows time for remakes
of bad files.

7:30 A.M.

7:30 P.M.

Items for financial institutions having
routing symbols 1110, 1111, 1112, 1113,
1119, 1120, 1122,
1123,1130,
1131,1140,
1149, 1163, 3110,
3111,3112,
3113,3119,
3120, 3122, 3123,
3130,3131,
3140,3149,
3163. Does not allow time for remakes of
bad files.

11:00 A.M.

11:00 P.M.

INTRA-REGIONAL

*Cash Concentration Debits only — Corporate cash concentration debits are originated by or for a cor­
poration or government entity typically to collect funds from the proceeds of the day’s business deposited
at accounts at receiving financial institutions by the corporation's or government entity’s branches, fran­
chises, or agents. These payments do not include the collection of bill payments or other corporate obliga­
tions nor any type of consumer payments.

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FEDERAL RESERVE BANK OF DALLAS

BULLETIN 11

Appendix A (Continued)
TIME SCHEDULE
AUTOMATED CLEARING HOUSE FILES

E ffective Date W indows

Items should specify a settlement date within the following effective date windows, computed from the
banking day of receipt and processing by us:
Class

E ffective Date W indow

Credit Items
Debit Items

One (1) to Two (2) Days
One (1) Day Only

Items with an effective entry date greater than that allowed by the effective date windows will be
returned to the originator.
Settlem ent Dates

If a settlement date is not specified, or if an item specifies a settlement date equal to or earlier than the
banking day of receipt and processing by us, the settlement date is the banking day following receipt by
us.
If an item specifies a settlement date that is not a banking day for the account holder whose account
either the originator or the receiver uses for settlement, or for a Reserve Bank involved in the transaction,
settlement is effected, with respect to that party, on the next day that is a banking day for both the ac­
count holder and the Reserve Bank maintaining its account.
Delivery Schedule

This delivery schedule shows the time frame for the operation of the interregional exchange and the
times output files will be available for pickup or delivery to the receiver.
Day Cycle
Monday Through Friday

Night Cycle
Sunday Through Friday

7:00 A.M.—
11:00 A.M. CST

10:00 P.M.—
12:00 Midnight CST

Output files available for
pickup by local receivers

7:00 P.M. CST

6:00 A.M. CST

Output files available for delivery
to local receivers

7:00 P.M. CST

6:00 A.M. CST

Interregional Exchange

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t

FEDERAL RESERVE BANK OF DALLAS

BULLETIN 11

Appendix B
FEE SCHEDULE
AUTOMATED CLEARING HOUSE ITEMS

This Bank has established the following schedule of charges for automated clearing house services
provided by us.
Intraoffice Debits
Originated and
Credits Received

1 cent per item

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Interoffice Debits
Originated and
Credits Received

1.5 cents per item


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102