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FEDERAL RESERVE BANK O F DALLAS Dallas, Texas, February 15,1945 To the Member Banks of the Eleventh Federal Reserve District: The Bank Management Commission of the American Bankers Association has advised the Federal Reserve banks that a recent survey of the opinions of all banks throughout the country revealed that a large majority were in favor of amending the standard instructions as to pro test and telegraphic advice of nonpayment of cash items. Accordingly, all Federal Reserve banks will revise their uniform instructions as to protest and telegraphic advice of nonpayment, effective March 1, 1945, to read as follows : “ Federal Reserve banks will receive, handle and forward cash items subject to the following uniform instructions regarding protest and advice of nonpayment except that United States Government checks will not be protested: (1) Do not protest items of $100 or less. (2) Protest dishonored items of $100.01 or over, except those bearing on their face the A.B.A. no protest symbol of the Federal Reserve bank or o f a preceding bank endorser. (3) Wire advice of nonpayment of all items of $1,000 or over.” These instructions will appear on the cash letters with which cash items are forwarded to your bank. It should be borne in mind that these instructions do not become effective until March 1, 1945, and that until that date the present instructions will continue in effect. We are enclosing revised pages 5 and 6 of Bulletin No. 8, Transit Operations— Collection of Cash Items, and of Bulletin No. 9, Collection of Noncash Items. These revised pages should be inserted in the ring binder containing the current bulletins of this bank and the regulations of the Board of Governors of the Federal Reserve System, in lieu of the corresponding pages dated January 2, 1940, and February 1, 1940, respectively. Yours very truly, R. R. GILBERT President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
@FedFRASER