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

February 24,1964

To All Banks in the
Eleventh Federal Reserve District:
The most recent survey by Federal Reserve banks to measure commercial bank
participation in the Magnetic Ink Character Recognition Program of the American
Bankers Association indicates that 88 percent of the checks cleared through the
Federal Reserve System are preprinted in magnetic ink with the identification
numbers of the banks on which they are drawn. However, only 79 percent of those
cleared through Reserve bank offices of this district are preprinted.
In addition to the banks now processing transit items on high-speed equipment,
there are others planning to convert as soon as the 85 to 90 percentage ratio is
reached. Because of the vital importance of the MICR program to the entire check
collection system, I urge that all banks redouble their efforts to bring their checks
into conformity with the program.
A breakdown of the survey figures for the Eleventh District is furnished on the
other side of this letter.
Yours very truly,
Watrous H. Irons
President

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
Number o f Checks
Surveyed

Number of
Checks Conforming

Percentage of
Conformity

Dallas
City
Country

52,137
323,218

46,517
254,867

89
79

El Paso
City
Country

14,290
30,833

12,804
23,887

90
77

Houston
City
Country

35,512
150,963

31,850
114,906

90
76

San Antonio
City
Country

32,248
135,760

24,051
101,010

75
74

Office

BREAKDOWN BY STATES LOCATED WHOLLY OR IN
PART IN THE ELEVENTH DISTRICT
Percent o f Preprinting
Banks in
11th District

A ll Banks
in State

79
74
75
60
79

State

86
76
81
75
79

Arizona
Louisiana
New Mexico
Oklahoma
Texas

BREAKDOWN FOR CERTAIN LARGER POINTS IN THE ELEVENTH DISTRICT
C ity

N um ber o f Checks
Surveyed

Num ber o f
Checks C onform in g

Percentage o f
C onform ity

Abilene, Texas

5,486

4,449

81

Amarillo, Texas

8,725

7,248

83

Austin, Texas

8,677

6,695

77

Beaumont, Texas

7,390

6,675

90

Corpus Christi, Texas

8,839

6,830

77

Fort Worth, Texas

8,205

7,486

91

Lubbock, Texas

5,224

3,423

66

Waco, Texas

3,998

2,448

61

Wichita Falls, Texas

4,204

3,119

74

Tucson, Arizona

1,564

1,321

84

Shreveport, Louisiana

11,513

9,334

81

Roswell, New Mexico

1,605

1,319

82

718

455

63

Durant, Oklahoma

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