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Federal R eserve Bank of Dallas HELEN E. HOLCOMB DALLAS, TEXAS F I R S T V I C E P R E S I D E N T AN D September 17, 1998 CH IE F O PER ATING OFFICER 75265-5906 Notice 98-85 TO: The Chief Operating Officer of each financial institution and others concerned in the Eleventh Federal Reserve District SUBJECT Off-line Funds and Book-entry Securities Consolidation DETAILS As announced August 24, 1998, support for off-line funds and book-entry securities transfers for financial institutions in the Eleventh District will change as part of a Federal Re serve System consolidation of these functions. Effective October 5, 1998, staff in the new Off-line Processing Center will perform off-line funds and book-entry securities transfer services currently provided by Reserve Bank staff in Dallas. Our consolidation is designed to have minimal effect on your day-to-day operations. The most notable change is the new telephone number for off-line funds and book-entry security business. In general, all off-line originations, verifications, notifications, and confirmations will be performed with the staff at the Off-line Processing Center. The Off-line Processing Center will also handle inquiries about previously processed off-line funds and book-entry securities transfers. Funds Transfer Services The basic operating procedures for processing funds transfers will not change. Your current Fedwire funds transfer code words and authorized personnel list will continue to be active. Book-Entry Securities The basic operating procedures for processing book-entry securities transfers will not change. Also, your current authorized personnel list will continue to be active at the Off-line Processing Center. 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) Processing collateral transactions will be a joint responsibility between the Dallas Securities staff and the Off-line Processing Center. To move a security into or out of a restricted (collateral) account, please call the Off-line Processing Center to originate the off-line transfer. Securities staff in Dallas will continue to manage the approval and release process for all collat eral accounts, Circular 154, Circular 176, joint custody, loans and discount, and Treasury Tax & Loan. Dallas Securities staff will work with the pledgee to confirm the authorization to pledge, release, and substitute securities. Contingency for FedLine® and Computer Interface (Cl) Customers FedLine and Cl customers who are unable to access on-line services should continue to call their local Customer Service Center. The local staff will assist you in resolving the problem. If off-line processing is required, your transfers will be handled by the Off-line Pro cessing Center. However, we strongly encourage all on-line customers to have a contingency plan other than the off-line service, such as a backup FedLine terminal readily available for emergency situations. ENCLOSURE For your convenience, we have enclosed a desktop reference sheet for Off-line Pro cessing Center contact numbers. The reference sheet also contains information about the support services provided by each office. MORE INFORMATION Staff at the Federal Reserve Bank of Dallas and the Off-line Processing Center will work closely to ensure that you continue to receive a high level of customer service. We wel come you to the Federal Reserve’s new Off-line Processing Center and look forward to a smooth transition as you begin to conduct off-line transactions with us. If you have any questions re garding this change, please contact Vannecie Willis at (214) 922-6455. For additional copies of this Bank’s notice, please contact the Public Affairs Depart ment at (214) 922-5254. Sincerely, O ff-line Funds and B ook-entry S e c u ritie s C usto m er Support S ervic es O ff-Line Processing C e n te r Fax: ( 6 1 7 ) 9 7 3 - 5 9 1 8 Telep ho ne: (8 0 0 ) 3 2 7 - 0 1 4 7 • • • • Off-line origination, verification, notification and confirmation for funds transfers Off-line origination, verification, and notification for securities transfers, including the transfer of collateral in TT&L, Circular 154, Circular 176, joint custody, and loan and discount accounts Research requests, including prior transactions and securities principal & interest payments Off-line services to online customers in the event of an electronic service outage O peratin g Hours Our hours of operation will continue as published in the operating circulars. • • No. 6 - Funds Transfers through Fedwire, Appendix B No. 7 Book-Entry Securities Account Maintenance and Transfer Services, Appendix B - D allas Support S e rvices T e le p h o n e # • Fax # Collateral Management (e.g., approval of pledge and release of securities held in collateral accounts) Joint custody, Circular 154, and Circular 176 accounts TT&L Loans and discounts Dallas Houston San Antonio • FedLine Help Desk (First contingency contact for FedLine and Computer Interface Customers) • Audit confirmations and research requests for on-line customers (214)922-6751 (214) 922-6751 (214) 922-5322 (214)922-6777 (214) 922-6777 (214) 922-5334 (800) 333-1672 (800) 392-4162, ext. 111 (800)292-5810 (214) 922-6751 (214) 922-6777