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Federal R eserve Bank
OF DALLAS
T O N Y J . SA L VA G G IO
F I R S T V I C E P R E S ID E N T

July 5, 1991

DALLAS. T EXA S 7 5 2 2 2

Notice 91-59
TO:

The Chief Operating Officer of
each financial institution in the
Eleventh Federal Reserve District
SUBJECT
Implementation of Treasury Receivable Accounting
and Collection System
DETAILS

Effective August 1, 1991, the Financial Management Service, a bureau
of the U.S. Department of the Treasury, will implement the Treasury Receivable
Accounting and Collection System (TRACS). TRACS is the new accounting and
collection system developed to handle all check claims-related activities.
ATTACHMENTS
Attached are FACT SHEETS provided by the Treasury that relate to the
implementation of TRACS.
These FACT SHEETS will assist both Federal Reserve
Banks and depository institutions in understanding how the new system will
operate.
MORE INFORMATION
Questions concerning the implementation of TRACS should be directed
to Jackie Young, (214) 651-6342, at the Dallas Office; Jane Pyke, (915)
521-8244, at the El Paso Branch; Louis Moore, (713) 652-1581, at the Houston
Branch; or Martin Ramsey, (512) 978-1500, at the San Antonio Branch.
For additional copies of this B a n k ’s notice, please contact the
Public Affairs Department at (214) 651-6289.
Sincerely,

For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal Reserve Bank of Dallas:
Dallas Office (800) 333-4460; El Paso Branch Intrastale (800) 592-1631, Interstate (800) 351-1012; Houston Branch Intrastate (800) 392-4162,
Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810.

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

Federal Reserve Banks
F A C T

S H E E T

Financial Management Service
Department of the Treasury

TREASURY RECEIVABLE ACCOUNTING AND COLLECTION SYSTEM
The Financial Management Service (FMS), a bureau of the Department
of the Treasury, will implement the Treasury Receivable Accounting
and Collection System (TRACS) on August 1, 1991.
TRACS is the new
accounting and collection system developed to handle all check
claims related activities. There will be certain changes that will
impact Federal Reserve Banks
(FRBs), as they relate to the
Reclamation
ticket,
and
the payment method
associated with
reclamation transactions.
o

Effective August 1, 1991, FMS will start using
Reclamation and Declination tickets.

its

revised

o

Federal Reserve Banks will now receive all payments of
principal, interest, penalty, and administrative fees directly
from financial institutions, as opposed to current procedures.

o

The Reclamation Ticket has been revised to reflect:
-- A space for the "Reclamation Amount Due", which will
be typed, and will correspond with the reclamation
principal indicated on the monthly Interest Billing
Statement, and
—

o

The "Total Remitted" must be picked up from the
monthly Interest Billing Statement, and must
correspond, in total to the principal, interest,
penalty, and administrative fees due (reflected in
column marked "Total Amount D u e " ) . The total amount
due must be entered in the space provided, IN W R I T I N G .

The Declination Ticket has been revised to computerize the
form and provide space for a Federal Reserve Bank address at
the bottom.

Commercial Banks
F A C T

S H E E T

Financial Management Service
Department of the Treasury

TREASURY RECEIVABLE ACCOUNTING AND COLLECTION SYSTEM
The Financial Management Service (FMS), a bureau of the Department
of the Treasury, will implement the Treasury Receivable Acc ounting
and Collection System (TRACS) on August 1, 1991.
TRACS is the new
accounting and collection system developed to handle all check
claims related activities. There will be certain changes that will
impact the financial community, as it relates to the Interest
Billing Statement and the Reclamation Ticket.
o

Effective August 1,
1991, FMS will start using its revised
Interest Billing Statement and Reclamation Ticket.

o

The Interest Billing’ Statement has been revised to include
additional information not previously captured, such as:
—

Payee names,

—

Penalty fees,

-- Administrative fees,
—

FMS Collection Regulations;

and an

—

Explanation of statement categories.

o

Penalty and administrative fees will be levied on banks with
delinquent reclamation payments due that are more than 120
days old, and must be collected through offset, or other third
party mechanisms.

o

All
payments
of
principal,
interest,
penalty,
and
administrative fees must now be sent directly to the regional
Federal
Reserve
Bank
serving
the
respective
financial
institution.

(over)

The Reclamation Ticket has been revised to reflect:
—

A space for the "Reclamation Amount Due", w h i c h will
be typed, and will correspond with the reclamation
principal indicated on the monthly Interest Billing
Statement, and

—

The "Total Remitted" must be picked up from the
monthly Interest Billing Statement, and must
correspond, in total to the principal, interest,
penalty, and administrative fees due (reflected in
column m a r k e d "Total Amount D u e " ) . The total amount
due must be entered in the space provided, IN W R I T I N G .

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