View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

F ederal R eser v e Bank
OF DALLAS
TONY

J . S A L V A G G IO

FIR S T V IC E PR E S ID E N T

Janua ry 2 8 , 1992

d a lla s ,te x a s

75222

Notice 92-09
TO:

The C hie f Executive O f f i c e r o f each
member bank and o t h e r s concerned in
th e Eleventh Federal Reserve D i s t r i c t

SUBJECT
Payment for Items Presented on J uly 3, 1992
DETAILS
The Federal Reserve System’ s Regul ation J ( C o l l e c t i o n o f Checks and
Other Items and Wire T r a n s f e r s o f Funds by Federal Reserve Banks) e s t a b l i s h e s
t h a t f o r h o l i d a y s f a l l i n g on Sunday, th e fo ll ow in g Monday w i l l be observed by
Reserve Banks as a h o l i d a y . However, i f a h o l i d a y f a l l s on S a tu rd a y , Reserve
Banks w i l l not c l o s e on t h e preced ing F r id a y . Because J u l y 4, 1992, f a l l s on
a Sa tu rd a y , J u l y 3 w i l l not be observed as a h o l i d a y by t h i s Bank.
Under S e c ti o n 210.9 o f Reg ul ati on J , paying banks v o l u n t a r i l y
c l o s i n g on h o l i d a y s not
observed by Reserve Banks (no ns ta ndard h o l i d a y s ) must
pay f o r cash items made a v a i l a b l e to them by th e Reserve Bank o r compensate
th e Reserve Bank f o r t h e c o s t o f f l o a t .
I f t h e nons tanda rd h o l i d a y i s manda­
t o r y under s t a t e law, paying banks do not have t o pay f o r cash items made
a v a i l a b l e by t h e Reserve Bank.
Because J u l y 3, 1992, i s a mandatory h o l i d a y in Texas and New
Mexico, banks in t h e 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 ­
ab le t o them on t h a t day. No cash item l e t t e r s w i l l be d e l i v e r e d t o banks in
Texas and New Mexico on J u l y 3, 1992.
The J u l y 3 h o l i d a y i s o p ti o n a l in L o u i s ia n a . T h e r e f o r e , paying
banks in Loui sia na w i l l be charged f o r cash items made a v a i l a b l e o r w i l l
charged f o r t h e c o s t o f t h e f l o a t .

be

MORE INFORMATION
I f you have any q u e s t i o n s o r need a d d i t i o n a l i n f o r m a t i o n , p l e a s e
c o n t a c t Robert Whitman, (214) 698-4357, or Thomas Holloway, (214) 651-6123, a t
t h e D a ll a s O f f i c e ; E l o i s e Guinn, (915) 521-8201, a t t h e El Paso Branch; Luke
Ri c har ds, (713) 652-1544, a t t h e Houston Branch; o r Herb Barbee, (512)
978-1402, a t t h e San Antonio Branch.

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 Intrastate (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)

-

2

-

For a d d i t i o n a l c opie s o f t h i s Bank’ s n o t i c e , p l e a s e c o n t a c t th e
P ub li c A f f a i r s Department a t (214) 651-6289.
Sincerely,

r

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