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F ederal R eserv e Bank
O F DALLAS
W IL L IA M

H. W ALLACE

October 6, 1989
DALLAS, TEXAS 75222

FIRST V IC E PR ES ID EN T
AND C H IE F O PER ATING O FFIC ER

C i r c u l a r 89-59

TO:

The C hie f Executive O f f i c e r o f a l l
f i n a n c i a l i n s t i t u t i o n s in th e
Eleventh Federal Reserve D i s t r i c t

SUBJECT
Payment for items presented on November 10, 1989
DETAILS
CASH ITEMS
The Federal Reserve System’ s Regulation J e s t a b l i s h e s t h a t f o r
h o l id a y s f a l l i n g on Sunday, th e fo ll o w in g Monday w i l l be observed by Federal
Reserve Banks as a h o l i d a y . However, i f a h o lid a y f a l l s on Sa tu rd a y , Federal
Reserve Banks w i l l not c l o s e on t h e pre ced ing F rid ay . Because November 11,
1989, f a l l s on a Sa tu rd a y , November 10 w i l l not be a h o lid a y f o r t h i s bank.
Under s e c t i o n 210.9 o f Reg ul atio n J , paying
on h o lid a y s not observed by th e Federal Reserve Banks
must pay f o r cash items made a v a i l a b l e t o them by t h e
compensate t h e Reserve Bank f o r t h e c o s t o f t h e f l o a t .
h o lid a y i s mandatory under s t a t e law, paying banks do
items made a v a i l a b l e by t h e Reserve Bank.

banks v o l u n t a r i l y c l o s i n g
(n on sta nda rd h o l id a y s )
Reserve Bank, or
I f t h e non stan dard
not have t o pay f o r
cash

Because November 10, 1989, i s a mandatory h o lid a y in Texas and New
Mexico, banks l o c a t e d in th o s e s t a t e s w i l l not be charged f o r cash items made
a v a i l a b l e t o them on t h a t day. No cash item l e t t e r s w i l l bed e l i v e r e d
t o banks
in Texas and New Mexico on November 10, 1989.
The November 10 h o lid a y i s o p tio n a l in L o u isia n a . T h e r e f o r e , paying
banks in Lou is ia na w i l l be charged f o r cash items made a v a i l a b l e or t h e c o s t of
the f l o a t .

WIRE TRANSFER AND ACH
All incoming and outgoing wire t r a n s f e r s and automated c l e a r i n g h o u s e
t r a n s a c t i o n s w i l l be pro cess ed and s e t t l e d in accordance with t h e usual
p ro ced u re .

For additional copies of any circular please conta c t the Public A ffairs D ep artm en t at (214) 651 -6 28 9 . Banks and others are
encouraged to use the follow ing in coming W A TS numbers in c ontacting this Bank (800) 4 4 2 -7 1 4 0 (in trastate) and (800)
5 2 7 -9 2 0 0 (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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MORE INFORMATION
For a d d i t i o n a l in fo r m a ti o n on t h i s i s s u e , p l e a s e c o n t a c t Robert L.
Whitman, (214) 698-4357 or Sharon A. Sweeney, (214) 651-6228, a t t h e Head
O f f i c e ; Robert W S c h u l t z , (915) 544-4730 a t t h e El Paso Branch; Luke E.
.
R ic har ds , (713) 652-1544 a t th e Houston Branch; or Herb Barbee, (512) 224-2141
a t t h e San Antonio Branch.
Sincerely yours,

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