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F ederal







Circular No. 73-57
March 15, 1973

To the Chief Executive Officers of All Banks
in the Eleventh Federal Reserve District:


Commencing in the second quarter of 1973? the United States
Postal Service will begin issuing a new style Postal Money Order. The
new form will be printed on paper, rather than card stock as at present,
and include a new line of information at the top of the document for
purposes of processing on optical character recognition equipment by
the Postal Service. In addition, the new form will bear a routing symbol
transit number 15-20 in the upper right corner and 0000-0020 in magnetic
ink in the bottom band. The color and insignia of the new money order
will vary from that presently used as well.
The present conversion schedule calls for the Post Offices in
the New York region to begin initial sales on or about April 28, and
then proceeding as rapidly as possible, other Post Offices elsewhere in
the Nation will begin issuing the new Postal Money Order. It is ex­
pected that all Post Offices will cease issuance of the card form by
October 31? 1973.
The purpose of this letter is to alert all banks to the immi­
nent appearance of the new form of cash item in financial transactions.
In addition to this communication, the Postal Service will conduct a
general publicity program to announce the new form.
Banks which are eligible to deposit cash items with this
Reserve office will continue to receive Immediate credit for deposits
of the new money orders. In the event that the volume of such items
deposited exceeds one hundred items on a daily basis, it would be ap­
preciated if the two styles of money orders are deposited in separate
packages. Upon completion of the conversion, this segregation will
no longer be necessary and this office will then accept items in ac­
cordance with its usual sort requirements.
Inquiries regarding this matter may be directed to any of the
Officers having responsibility for this function at the Head Office or
Yours very truly,
P. E. Coldwell

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