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F ederal R eserve Bank o f D allas

DALLAS. TEXAS

75222
C i r c u l a r No. 76-5
J a n u a r y 13, 1976

A m e r ic a n R e v o l u tio n B ic e n te n n ia l

LATE CLAIMS FOR ERROR ADJUSTMENTS

TO ALL BANKS IN THE
ELEVENTH FEDERAL RESERVE DISTRICT:
E ffec tiv e F e b r u a r y 2, 1976, all F e d e r a l R e s e r v e o ffice s will a d o p t
u n if o r m p r o c e d u r e s c o v e r i n g t h e h a n d l i n g of e r r o r s r e p o r t e d in c h e c k s h i p ­
m e n ts to o r from th i s B a n k . T h e s e p r o c e d u r e s , w h i c h a r e d e s i g n e d to
im p r o v e t h e ti m e l i n e s s of e r r o r r e p o r t i n g a n d e x p e d i t e r e s o l u t i o n of s u c h
e r r o r s f o r all b a n k s a r e :
1)

R e p o r t s of e r r o r s b y p a y o r b a n k s (w ith t h e e x c e p t i o n of
MICR a m o u n t e n c o d i n g e r r o r s ) w ill b e a c c e p t e d f o r im me­
d i a t e p r o v i s i o n a l e n t r y if s u c h a r e r e p o r t e d w i t h i n 5 b u s i ­
n e s s d a y s fo llo w in g r e c e i p t of e a c h c a s h l e tte r w ith
s u f f i c i e n t in f o r m a tio n f o r t r a c i n g p u r p o s e s .

2)

R e p o r t s of e r r o r s b y p a y o r b a n k s (w ith t h e e x c e p t i o n of
MICR a m o u n t e n c o d i n g e r r o r s ) will b e a c c e p t e d on a
" w ith o u t e n t r y " b a s i s (for e n t r y a f t e r a p p r o p r i a t e
r e s e a r c h ) if r e p o r t e d la t e r t h a n th e 5 - d a y limit s t a t e d
a b o v e , b u t w i t h i n 45 b u s i n e s s d a y s . A f t e r 45 d a y s ,
e n t r y will b e m a d e o n l y a f t e r a p p r o v a l b y t h e d e p o s i t i n g
bank.

3)

R e p o r t s of MICR a m o u n t e n c o d i n g e r r o r s ( a c c o m p a n i e d
b y a le g ib le p h o t o c o p y of e a c h item) b y p a y o r b a n k s
will b e a c c e p t e d f o r im m ed iate p r o v i s i o n a l e n t r y if s u c h
a r e r e p o r t e d w i t h i n 45 b u s i n e s s d a y s f o llo w in g d i s p a t c h
o f th e c a s h l e t t e r . A f t e r 45 b u s i n e s s d a y s , e n t r y will
be made only after ap p ro v al by the d ep o sitin g b a n k .

4)

All r e p o r t s of e r r o r s b y d e p o s i t i n g b a n k s will b e
a c c e p t e d on a " w i t h o u t e n t r y 1 b a s i s (for e n t r y a f t e r
1
a p p r o p r i a t e r e s e a r c h ) if s u c h a r e r e p o r t e d w i t h i n 45
b u s i n e s s d a y s . A f t e r 45 b u s i n e s s d a y s , e n t r y w ill b e
made only after a p p ro v a l b y th e p a y o r b a n k .

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

- 2 -

5)

No r e p o r t s o f e r r o r s b y p a y o r o r d e p o s i t i n g b a n k s w ill b e
a c c e p t e d f o r a n y a c t io n m o r e t h a n o n e c a l e n d a r y e a r a f t e r
th e d a t e of t h e r e c e i p t o f t h e d e p o s i t o r ' s c a s h l e t t e r .

R e v i s i o n s to B u l l e t i n s 8 a n d 11 w ill b e f o r w a r d e d to y o u r b a n k
in t h e n e a r f u t u r e . E n c l o s e d is a q u i c k r e f e r e n c e c h a r t fo r u s e b y o p e r a ­
tions p e r s o n n e l .
If a n y q u e s t i o n s o r c o m m e n t s a r i s e w ith r e s p e c t to t h e s e p o l i c i e s ,
p l e a s e c o n t a c t J . A . C l y m e r , A s s i s t a n t V ice P r e s i d e n t , a t (214) 651-6337,
o r t h e o ffic e r in c h a r g e of t h e C h e c k s D e p a r t m e n t at o u r El P a s o , H o u s to n ,
o r S a n A n to n io B r a n c h .
T . W. P la n t
F i r s t V ic e P r e s i d e n t

E nclosure

FEDERAL RESERVE BANK OF DALLAS
ERROR ADJUSTMENT TIMETABLE

E r r o r R e p o r t From

T y p e of E r r o r

Period*

D e p o s ito r

All

Payor

All e x c e p t
encoding e r r o r s

5

Payor

All e x c e p t
encoding e r r o r s

45

Payor

MICR e n c o d i n g
errors

45

45

F in al c l o s e of f il e s - o n e c a l e n d a r y e a r

* N u m b e r of b u s i n e s s d a y s s i n c e r e c e i p t o f t r a n s a c t i o n .

T y p e of R e s p o n s e
W ithout e n t r y
Im m ed ia te p r o ­
v is io n a l e n t r y
W ith out e n t r y
Approval by
depositor b ank
Im m ediate p r o ­
v is io n a l e n t r y

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