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Federal R eserve Bank
OF DALLAS
W ILLIA M

H. WALLACE

DALLAS. TEXAS 75222

FIRST V IC E P R ES ID EN T
AND C H IE F O PER A TIN G O FFIC ER

August 31, 1989
Circular 89-53

TO:

The Chief Operations Officer of
all financial institutions in the
Eleventh Federal Reserve District
SUBJECT

Introduction of a pilot program involving the receipt and deposit of
return items in forward collection cash letters in the Dallas office territory
DETAILS

As part of a Federal Reserve pilot program being tested in the Dallas
office territory, all financial institutions will have the option of receiving
and depositing return items commingled in forward presentment cash letters
beginning October 2, 1989.
The program, which is designed to further accelerate the return
process, will only apply to cash letters deposited at the Dallas office.
Participating institutions that deposit returns in forward presentment cash
letters must agree to receive returns commingled in their incoming Fed cash
letter.
.
A return item deposited in forward collection cash letters will be
charged the appropriate forward collection fee if the institution to which it
is being returned is a participant in the program. Other returns deposited in
a commingled cash letter will be assessed the normal return item fee.
We feel that this program represents a significant improvement in the
return item process and look forward to testing the concept.
MORE INFORMATION

For further information, please call Jack A. Clymer at (214) 651-6337
or Robert L. Whitman at (214) 698-4357.
Sincerely,

For additional copies of any circu la r please con tact the Public A ffa irs D epartment at (214) 651-6289. Banks and others are
encouraged to use the fo llo w in g incom ing WATS numbers in con tac ting this Bank (800) 442-7140 (intrastate) and (800)
527-9200 (interstate).

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


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