Full text of District Notices (Federal Reserve Bank of Dallas) : Collection of Items Payable in Alaska and Hawaii

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F

ederal

R

eserve

Bank

OF DALLAS

Dallas, Texas, July 15,1954

COLLECTION OF ITEMS PAYABLE IN ALASKA AND HAW AII

To the Par Remitting Nonmember Banks
of the Eleventh Federal Reserve District:

The Board of Governors of the Federal Reserve System has adopted
amendments to its Regulation J, effective July 15, 1954, in order to
permit the collection through the Federal Reserve banks of checks
drawn on nonmember par-remitting banks located in such of the Terri­
tories, dependencies, insular possessions, and parts of the United States
outside the continental United States as the Board of Governors may
designate.
Pursuant to these amendments, the Board of Governors has desig­
nated Alaska and Hawaii as being in or of the Twelfth Federal Reserve
District, for purposes o f Regulation J, effective July 15, 1954.
We are pleased to send you the enclosed copy of the amendments
(including the announcement designating Alaska and Hawaii as being
in or of the Twelfth Federal Reserve District) for filing with your
copy o f Regulation J, which was sent to you with our circular letter of
December 23, 1948.
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)

CHECK CLEARING AND COLLECTION

AM ENDMENTS TO

R E G U L A T IO N J

Issued by the Board of Governors of the Federal Reserve System

In order to permit the collection through the Federal Reserve Ranks of
checks drawn on nonmember par-remitting banks located in such of the Ter­
ritories, dependencies, insular possessions, and parts of the United States
outside the continental United States as the Board of Governors may desig­
nate, Regulation J is hereby amended, effective July 15, 1954, in the follow­
ing respects:
1. Section 3 of Regulation J is amended by inserting a new Footnote 1
to the word “district” where it first occurs in such section, reading as
follows:
ulFor the purposes of this Regulation, Alaska, Flawaii, Puerto Rico
and any dependency, insular possession or part of the United States
outside the continental United States shall be deemed to be in or of such
Federal Reserve district as the Board of Governors may designate.”
2. The numbering of present Footnotes 1, 2, and 3 is changed to 2, 3, and
4, respectively.

DESIGNATION OF ALASKA AND HAWAII AS BEING IN OR OF THE
TWELFTH FEDERAL RESERVE DISTRICT FOR PURPOSES OF
REGULATION J
Pursuant to Footnote 1 of Regulation J, as amended effective July 15,
1954, the Board of Governors has taken the following action:

For purposes of Regulation J, Alaska and Hawaii shall be deemed
to be in or of the Twelfth Federal Reserve District, effective on and
after July 15, 1954.