The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
federal reserve Bank DALLAS, T E X A S of D allas 75222 Circular No. 82-4 January 22, 1982 BULLETIN 10 "Time Schedules and Other Inform ation Concerning Cash Items" TO ALL DEPOSITORY INSTITUTIONS IN THE ELEVENTH FEDERAL RESERVE DISTRICT: A ttach ed is our revised O perating Bulletin No. 10, e n title d "Time Schedules and Other Inform ation C oncerning Cash Items" which should be filed in Vol. I o f your R egulations binders. The revised bulletin r e f l e c t s current d e fin ition s and cash le t t e r preparation and sorting requirem ents. Supplem ent A has been printed in a new e a s y -to -r e a d form at showing current closin g hours (c u t- o ff tim es) and availab ility for cash ite m s deposited with us. Q uestions concerning this bulletin should be d irected to Jack A. C lym er o f this Bank, Ext. 4274; Robert W. Schultz, El Paso Branch, (915) 544 4730; Vernon L. B artee, Houston Branch, (713) 659-4433; or John A. Bullock, San Antonio Branch, (512) 224-2141. Additional cop ies o f the bulletin and circular will be furnished upon request to the D ep artm en t o f C om m unications, Financial and Com m unity A ffa ir s o f this Bank, Ext. 6289. Sincerely yours, William H. W allace First Vice President A tta ch m e n t Banks and others are encouraged to use the following incoming W ATS numbers in contacting this Bank: 1-800-442-7140 (intrastate) and 1-800-527-9200 (interstate). For calls placed locally, please use 651 plus the extension referred to above. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) BULLETIN 10 Time Schedules and Other Information Concerning Cash Items FEDERAL RESERVE BANK OF DALLAS SCOPE This bulletin sets out c e rta in ru les u n d e r w hich c red it for c a s h item s se n t by depository institutions to us for collection will be available in th e re se rv e or clearing ac co u n ts of th e sen d ing depository institutions or th eir co rresp o n d en t. It also con tains se v e ra l ru les w ith re s p e c t to th e sorting a n d p re p a ra tio n of c a s h le tte rs sen t to us. S upplem ent A to this bulletin contains the c u r re n t closing h o urs for v arious categ o ries of c a s h items. This bulletin, along w ith Regulation J a n d c e rta in o th er of our bulletins, co n stitu tes a p o r tion of the c o n tra c t u n d er w hich ca sh items a re h an d le d for collection by us. TABLE OF CONTENTS Section 1, DEFINITIONS 1.00 1.05 1.10 1.15 1.20 1.25 1.30 1.35 Section 3, CASH LETTERS A vailable an d availability Day of d isp atch Day of re ceip t D irect sending Consolidated shipm ents Im m ediate a n d d e fe rre d c re d it items N onm achineable items O th er re feren ce s 3.00 3.05 3.10 3.15 3.20 3.25 Section 4, CASH LETTERS TO OTHER RESERVE OFFICES Section 2, IMMEDIATE AND DEFERRED AVAILABILITY 2.00 2.05 2.10 2.15 2.20 2.25 1-82 Sorting M ixed c a s h le tte rs Fine so rt c a sh le tte rs (package sort) Special deposits D escription Dating, identification a n d conten ts 4.00 4.05 4.10 Im m ediate c red it D eferred cred it, availability com putation D eferm ent of one banking day D eferm ent to tw o banking days Conflicting holiday schedules Availability table C onsolidated shipm ents D irect sendings Availability on holidays Section 5, RIGHT TO AMEND Supplement A, DEPOSIT DEADLINES AND AVAILABILITY i BULLETIN 10 FEDERAL RESERVE BANK OF DALLAS Section 1, DEFINITIONS 1.00 Available and availability “ A v ailab le” a n d “ av ailab ility” re fe r to th e g ra n t ing of c red it by us in the s e n d e r’s re s e rv e or c le a r ing ac co u n t or the acco un t of its co rresp o n d e n t for c a s h items fo rw a rd e d to us for collection or h an d le d by d ire c t sending. 1.05 Day of dispatch “ Day of d is p a tc h ” m ean s the day a d irec t sending depository in stitution actu ally d isp atch e d a d irec t s en t c a s h item, o r su ch o th er day as we d irec t u n d e r 2.05 of this bulletin. 1.30 As u sed in this bulletin, th e term “ non m achin eab le item s” m ean s those c a s h item s th a t can n o t be in tro d u ce d into, or a re re je c te d by, a s e n d e r’s high-speed au to m ate d check-processing equipm ent b ec au se of th eir physical condition, in cluding item: (1) m utilated, to rn or crum pled, or (2) b ea rin g faulty or in ad e q u a te MICR encoding. If a sen d e r does not use high-speed au to m ated check-processing equipm ent, the term includes c a s h item s th a t by observ atio n a re unqualified for high-speed au to m ate d check-processing u n d e r the p recedin g crite ria . 1.35 1.10 Day of receipt “ Day of re c e ip t” m ean s the day a c a sh item sent to us for collection is received, if receiv ed before the closing hour. For c a sh item s receiv ed on our nonbanking d ay s or a f te r closing hours, the d ay of re ceip t is our n ex t banking day. Reference: Supplem ent A to Bulletin 1 for the schedule of our banking a n d nonbanking days; S upplem ent A to this bulletin for cash items e n titled to Sunday closing hours. 1.15 Direct sending “ D irect sen din g ” re fe rs to th e sending of ca sh item s d ire c t to a F ed eral R eserve office o th er th an th a t w h ich norm ally serv es th e sen d e r, as p ro vided in p a r a g r a p h 18 of Bulletin 8. Nonmachineable items Other referen ces Several definitions, ru les of construction, an d o th er provisions ap p licable to this bulletin a re found in our Bulletin 1, G eneral Provisions, an d a r e in c o rp o ra te d h erein by re feren ce . In addition, c e rta in term s u sed in this bulletin a re defined in Regulation J. Section 2, IMMEDIATE AND DEFERRED AVAILABILITY 2.00 Immediate credit C ash items entitled to availability on the day of re c e ip t a re show n u n d e r the heading “ Im m ediate c red it item s” in S upplem ent A of this bulletin. 2.05 Deferred credit, availability computation “ Consolidated sh ip m en ts” m ean s o th er F ed eral R eserve te rrito ry item s w h ich h ave been so rted an d p ac k ag ed to a specific F ed eral R eserve Bank or RCPC a n d a r e com bined w ith our c a s h le tte rs a n d sen t to the resp ectiv e F ed eral R eserve office. Availability for d e fe rre d c red it items will be com p u te d from the day of receip t, or in the ca se of d ire c t sending, from the day of d isp atch . In c e r tain d irec t sending situations, w e re se rv e the right to d irec t th a t availability will b e com puted from a day o th er th an the day of d ispatch, in w hich event such day will be tre a te d as the day of dispatch. 1.25 2.10 1.20 Consolidated shipments Immediate and d eferred credit items "Im m ediate c re d it item ” m ean s a c a s h item en titled to availability on the day of receipt, as set out in 2.00 of this bulletin. “ D eferred c red it item ” m ean s any oth er c a s h item. Deferment o f one banking day D eferm ent of one banking day m eans th a t cred it will be av ailable on our first banking day follow ing the day of receipt, or in th e ca se of d irec t sending, following the day of d isp atch . Such BULLETIN 10 FEDERAL RESERVE BANK OF DALLAS d eferm en t is given for d e fe rre d c re d it item s (most of w h ich b e a r the im m ediate c re d it routing sym bol) co llectib le th ro u g h d e s ig n a te d F ed e ra l R eserve offices, a c u r r e n t list of w h ich will be fu r n ish ed on req uest. 2.15 Deferment o f two banking days D eferm ent of tw o banking days m ean s th a t cred it will be available on our second banking day following the day of receip t, or in the c a s e of d irec t sending, following the d ay of dispatch . Such d eferm en t is av ailab le for all d e fe rre d c red it item s not cov ered by 2.05 a n d 2.10 above. 2.20 Conflicting holiday schedules It should be no ted th a t d eferm en t of availability is b a s e d on our banking days, or a c tu al collection time if applicable, n o tw ithstan d ing the fact th a t p ay o r b an ks m ay observe a d iffe ren t sch ed ule of banking a n d nonbanking days. 2.25 Availability table The ta b le below illu s tra te s typical d e fe rre d availability, how ever, it does not tak e acco u nt of holidays ob serv ed by us. Day of receipt or day of dispatch If d eferred 1 banking day If d efe rre d 2 banking days Credit w ill b ecom e a v a ilab le on the following: M onday T uesday W e d nesd ay T h u rsd ay Friday S atu rd ay Sunday T uesday W edn esday T h u rsd a y Friday M onday M onday M onday W edn esday T h u rsd ay F riday M onday T uesday T uesday T uesday Section 3, CASH LETTERS 3.00 Sorting Except as pro vid ed in 3.05 of this bulletin, se n d e rs should s o rt item s in s e p a r a te c a sh le tte rs for th e vario us d eferm en t categ o ries listed in Sup plem ent A to this bulletin, a n d for v ario us ca teg o ries of availability d eferm en t (im m ediate cred it, d eferm en t of one banking d ay or two ban k ing days). For u n so rte d c a s h le tte rs w hich a re su b ject to the sorting re q u irem en ts of this p a r a g ra p h , availability m ay be d e fe rre d for the longest p erio d ap plicab le to any item in the c a sh letter. 3.05 Mixed cash letters M ixed c a s h le tte rs co n tain u n so rted checks th a t ca n be any m ixtu re of city, country, a n d RCPC checks. These c a s h le tte rs m ay also contain checks d ra w n on depository institutions in other F ed eral R eserve te rrito rie s a n d U.S. T re a s u ry checks a n d p o stal money o rd ers. C redit for checks in m ixed c a s h le tte rs is b a s e d on availability as ca lc u la te d by the local F ed eral R eserve office. An institution desiring to use this service should consult w ith its local F ed eral R eserve office for additional inform ation a n d deposit forms. 3.10 Fine sort cash letters (package sort) W e will a c c e p t deposits of endpoint so rte d c a sh le tte rs com posed of sea le d p ack ag es w hich m ust be lab e le d w ith the sending a n d paying b a n k ’s nam e a n d routing num ber, the am ount of the c a sh letter, a n d accom p an ied by the p ro p e r deposit forms. The re q u ire d deposit form at will be su p plied upon requ est. 3.15 Special Deposits Com puter p ro c essed c a s h item s deposited to take ad v a n tag e of la te r closing ho u rs m ust be p re p a re d in a c c o rd a n c e w ith stip u lated so rts an d conditions. Inform ation a n d schedules will be sup plied upon req u est. 3.20 Description C ash items may be dep o sited w ith this a n d o th er F ed eral R eserve Banks w ithout descriptio n ex ce p t for listing by individual am ounts; how ever, e a c h se n d e r should m ain tain a d e q u a te re c o rd s to en ab le it to identify its depositors or other BULLETIN 10 FEDERAL RESERVE BANK OF DALLAS in d o rsers in the event any su ch item s a r e lost, d e s tro y e d , o r o th e rw is e u n c o lle c tib le a n d n o n re tu rn ab le. 3.25 Dating, identification, and contents Each c a s h le tte r a n d ta p e listing should be d a te d a n d identified w ith the n am e a n d routing n um ber (if any) of the sen d e r. It w ould be helpful if no m ore th a n 500 items a re listed on e a c h m achine ta p e a n d no m ore th a n 6 su ch tap e s a re included in one c a s h letter. Section 4, CASH LETTERS TO OTHER RESERVE OFFICES 4.00 Consolidated shipments C ash le tte rs of item s p ay a b le in o th er F ederal R eserve cities a n d d istricts will be ac cep te d by us for consolidated shipm ents to the applicable b an k s w h en ap p ro p riately p ac k ag ed a n d ad d re s se d a n d receiv ed before closing hour. C redit will be given according to c u r re n t schedules w hich will be supplied upon req u est. 4.05 Direct sendings Banks may be au th o rized by us to sen d c a s h items d irec t to o ther F ed eral R eserve Banks a n d will be fu rn ish ed a schedule of availability on d irec t sendings. C ash lette rs sen t d irec t should be dis p a tc h e d in sufficient time to be d elivered before the closeout ho ur a t the collecting F ed eral R eserve Bank or RCPC. 4.10 Availability on holidays Availability for all in te rd istric t d irec t sendings of ca sh items (city, country, an d RCPC) will be p asse d to d irec t sending banks b a s e d upon the holiday schedule of the receiving R eserve offices. R eserve acco un t allow ances will be provided for d ire c t sent c a s h lette rs w h e re such availability would norm ally be due w hen w e a re closed, but the receiving R eserve office is open. Similarly, c red it for c a sh lette rs sen t d irec t in the re v erse circ u m sta n ces will be d eferred . Section 5, RIGHT TO AMEND The right is re se rv e d to w ith d raw , a d d to, or am end this bulletin or its supplem ent at any time. BULLETIN 10 FEDERAL RESERVE BANK OF DALLAS a_______________________________________________________ SUPPLEMENT A DEPOSIT DEADLINES AND AVAILABILITY IMMEDIATE CREDIT ITEMS Banking d ay s (M onday through Friday) Sorting Options Closing Hours Dallas City Items R egular C ash L etters P ackage Sort 9:00 a.m. 9:30 a.m. RCPC Items R egular Cash L etters P ackage Sort 12:01 a.m. 4:00 a.m. til Faso 9:15 a.m. 10:15 a.m. — Houston San Antonio 9:00 a.m. 9:30 a.m. 9:30 a.m. 10:30 a.m. 12:01 a.m. 4:00 a.m. 12:01 a.m. 4:00 a.m. R edeem ed United S tates D epartm ent of A griculture food stam p coupons 2:00 p.m. 2:00 p.m. 2:00 p.m. 2:00 p.m. D ra fts on Commodity Credit C orporation p ay a b le through this Bank (accep table for im m ediate c red it only a t office thro u g h w hich payable) 2:00 p.m. 2:00 p.m. 2:00 p.m. 2:00 p.m. C a sh ie r’s checks, exp ense checks, an d d ra fts on this Bank p re sen ted to th e office on w hich d raw n; su bject to inspection and v erification of sig n atu re s b efore paym ent is final 2:30 p.m. 2:30 p.m. 2:30 p.m. 2:30 p.m. Postal M oney O rd ers 3:00 p.m. 3:00 p.m. 3:00 p.m. 3:00 p.m. Checks d ra w n on the United S tates T re a su ry 3:00 p.m. 3:00 p.m. 3:00 p.m. 3:00 p.m. Eleventh D istrict Louisiana end-point so rte d item s (items b ea rin g routing symbol 1111 c o n ta ct D allas Office for specific details) 12:01 a.m. — — FEDERAL RESERVE BANK OF DALLAS BULLETIN 10 A SUPPLEMENT A Continued DEPOSIT DEADLINES AND AVAILABILITY DEFERRED CREDIT ITEMS Banking days (Monday through Friday) Sorting Options Country Items R egular C ash Letters: Fully Qualified Com puter P ro cessed P re p a re d for High-Speed $500 an d Over P ackage Sort: Oklahom a Items O th er Items G roup Sort O ther Fed Items (M aximum Two-Day Deferm ent) N onm achineable Items (City a n d RCPC d e fe rre d one additional day) (Country d e fe rre d two days) M ixed C ash L etters (Availability com puted by F ed eral Reserve) Closing H ours Dallas 12:00 1:30 2:30 2:30 noon p.m. p.m. p.m. 4:00 p.m. 5:00 p.m. Sunday 9:30 p.m. MondayT hursday El Faso Houston San Antonio 12:00 noon 1:30 p.m. 2:00 p.m. 4:30 p.m. 5:00 p.m. Sunday 8:00 p.m. MondayT hu rsday 12:00 noon 12:00 noon 12:00 noon 12:00 noon 7:00 a.m. 7:00 a.m. 7:00 a.m. 7:00 a.m. 9:15 a.m. 9:00 a.m.* 9:30 a.m.* 9:00 a.m. ^If m ixed c a sh lette rs a r e received by 12:01 a.m., in tra te rrito ry RCPC items will receive sam e-day cred it. 1-82 A-2
@FedFRASER