The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
l l★K Federal Reserve Bank of Dallas HELEN E. HOLCOMB DALLAS, TEXAS 75265-5906 FIRST VICE PRESIDENT AND CHIEF OPERATING OFFICER August 30, 1999 Notice 99-77 TO: The Chief Operating Officer of each financial institution and others concerned in the Eleventh Federal Reserve District SUBJECT New Nationwide Weekend Sort Service DETAILS Beginning September 30, 1999, the Federal Reserve System will launch a new weekend check processing service called Nationwide Weekend Sort. This new service allows financial institutions to deposit weekend check items in five cash letters at any of six Federal Reserve offices. Deadlines are 10:00 p.m. local time Saturday for the Baltimore and Houston offices and 12:01 a.m. local time Sunday for the New York, Philadelphia, Cleveland, and Atlanta offices. The cash letter fee is $8.00 for local depositors and $10.00 for non-local depositors. It is preferred that local items be deposited separately. A six-tier per-item fee structure of $0.024, $0.029, $0.035, $0.045, $0.06, or $0.25 is based on endpoint and offers a $0.001 ECL discount. Availability is 100 percent on Monday for Group Sorts A through D and 100 percent on Tuesday for Group Sort E. This new nationwide service is being offered in addition to our current weekend products. The service can greatly reduce the number of weekend cash letters your financial institution needs to prepare and can decrease overall weekend processing costs. MORE INFORMATION For more information about Nationwide Weekend Sort, please contact Larry Snell, (214) 922-5571, at the Dallas Office; Eloise Guinn, (915) 521-8201, at the El Paso Branch; René Gonzales, (713) 652-1543, at the Houston Branch; or Herb Barbee, (210) 978-1402, at the San Antonio Branch. 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 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.
@FedFRASER