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Federal R eserve Bank OF DALLAS TO NY J . S A L V A G G IO FIRS T V IC E P R ES ID EN T Anv-il 7 April 117, 1QQ9 1992 DALLAS, TEXAS 7 5 2 2 2 Notice 92-31 TO: The Chief Operations Officer at all financial institutions in the Eleventh Federal Reserve District SUBJECT Processing and Settlement of Wire Transfers of Funds, S e c uritie s , and ACH Items on July 3, 1992 DETAILS The Federal Reserve S ystem’s Regulation J (Collection of Checks and Other Items and Wire Transfers of Funds by Federal Reserve Banks) and the Federal Reserve Bank of D a l l a s ’ Operating Circular 11 (Automated Clearing House Operations) establishes that holidays falling on Sunday will be observed the following Monday. However, Reserve Banks will not observe a holiday on the preceding Friday if a holiday falls on a Saturday, in keeping with Texas and New Mexico state law for commercial financial institutions. Louisiana law allows commercial financial institutions the option of a Friday holiday but does not mandate it. Federal Reserve Operating Circulars and Subpart B of Regulation J provide for settlement of electronic payments (funds and securities transfers and ACH) on the date the item is processed (funds and securities) or the date specified in the item (ACH) if the Reserve Banks are open. Therefore, wire transfers of funds and securities received by Eleventh District financial institutions on Friday, July 3, 1992, will be posted and settled to the account of the receiving financial institution. ACH items scheduled for settlement on Friday, July 3, 1992, will be settled as scheduled. Financial institutions observing July 3 as a holiday should not negotiate transfers of securities to settle that day. However, should securities be received for an online financial institution, the receiver’s account will be charged unless this Bank has been notified otherwise. Trans fers of securities received for online financial institutions will not be accepted without prior authorization. Eleventh District financial institutions wishing to conduct wire transfer of funds, securities, or ACH items on Friday, July 3, 1992, will be able to connect to the Federal Reserve Bank of Dallas and its branches and 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 - conduct business. Financial institutions that desire to determine the legality of backroom operations on a state holiday should contact the appro priate state agency instead of the Federal Reserve Bank. M ORE INFORMATION If you have any questions or need additional information, please contact one of the following persons: For Wire Transfer and ACH Larry Ripley, (214) 651-6118, or Jonnie Miller, (214) 651-6290, at the Dallas Office; Eloise Guinn, (915) 521-8201, at the El Paso Office; Luke Richards, (713) 652-1544, at the Houston Office; or Herb Barbee, (512) 978-1402, at the San Antonio Office. For Securities Transfers Robert Feil, (214) 651-6690, or Nancy Barton, (214) 698-4248, at the Dallas Office; Luke Richards, (713) 652-1544, at the Houston Office; or Richard Gutierrez, (512) 978-1401, at the San Antonio office. For additional copies of this B a n k ’s notice, please contact the Public Affairs Department at (214) 651-6289. Sincerely,