View PDF

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

F e d e r a l R e s e r v e Ba n k
OF DALLAS

Dallas, Texas, February 26,1962

To All Banks in the
Eleventh Federal Reserve District:
Another survey has been made by Federal Reserve banks to measure commercial
bank participation in the Magnetic Ink Character Recognition Program of the American
Bankers Association.
The survey indicates that 55 percent of the checks cleared through the Reserve
System are preprinted in magnetic ink, while only 42 percent of those cleared through
the Reserve bank offices o f this District are preprinted. In fact, all except three districts
have more preprinted checks than the Dallas District. The Philadelphia District, with a
preprinting ratio of 73 percent, has the best record in the System.
The analysis of magnetic ink printing by states indicates that New Mexico, with a
ratio of 44 percent, is ranked 28th; Texas, with 42 percent, 32nd; Oklahoma, with 40
percent, 35th; Arizona, with 38 percent, 36th; and Louisiana, with 36 percent, 40th. The
State of Delaware, with a ratio of 79 percent leads the nation.
The information obtained from the survey clearly shows that many commercial
banks in the Eleventh District are lagging in conforming to the MICR Program. Because
of the importance of every bank to the check clearing system, I strongly urge that all
banks redouble their efforts in moving forward in the program.
Survey figures for the Eleventh District are furnished on the other side of this letter.
Yours very truly,
Watrous H. Irons
President

This publication was digitized and made available bj the Federal Feserve Tank o f Fallas' Historical Fibraiy (FedHistory@dal.frb.org).
This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

BREAKDOWN BY RESERVE OFFICES OF THE ELEVENTH DISTRICT
N um ber o f Checks
Surveyed

N um ber o f
Checks C onform in g

Percentage o f
C onform ity

Dallas
City
Country

44,892
210,634

27,259
83,374

61
40

El Paso
City
Country

10,643
39,691

4,928
17,255

46
43

Houston
City
Country

33,918
133,735

13,657
61,117

40
46

San Antonio
City
Country

29,589
112,813

9,750
40,921

33
36

Office

BREAKDOWN FOR CERTAIN LARGER POINTS
Num ber o f Checks
Surveyed

N um ber o f
Checks C onform in g

Percentage o f
C onform ity

Abilene, Texas

3,536

1,006

28

Amarillo, Texas

5,688

1,062

19

Austin, Texas

8,505

4,906

58

Beaumont, Texas

7,527

5,985

80

Corpus Christi, Texas

8,824

3,670

42

Fort Worth, Texas

4,478

2,771

62

Lubbock, Texas

5,646

1,984

35

Waco, Texas

3,412

1,121

33

Wichita Falls, Texas

4,511

1,976

44

Shreveport, Louisiana

5,124

1,007

20

Tucson, Arizona

5,831

2,856

49

City

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