View original document

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

l l★K

Federal Reserve Bank of Dallas
2200 N. PEARL ST.
DALLAS, TX 75201-2272

HELEN E. HOLCOMB
FIRST VICE PRESIDENT AND
CHIEF OPERATING OFFICER

July 15, 2004

Notice 04-42

TO:

The Chief Operating Officer of each
financial institution and others concerned
in the Eleventh Federal Reserve District
SUBJECT
Discontinuation of Courtesy Call Notifications for
Large-Dollar Check Adjustment and Settlement Entries
DETAILS

As the financial services industry evolves to meet the needs of an ever-changing
marketplace, we continue to seek out more efficient, cost-effective ways to conduct business and serve
our customers. In many aspects of our operations, this evolution is marked by a shift from manual
processes to electronics.
Keeping pace with this trend, the Federal Reserve System’s existing process for check
adjustment and settlement entry notifications is another opportunity for positive change. Currently,
Federal Reserve Banks make courtesy call notifications on check adjustment and settlement entries over
$50,000 to assist financial institutions in managing their reserve positions. However, this process has its
limitations, including uniform threshold notification levels (versus levels tailored to individual customer
needs), delayed reporting, and unsuccessful calls.
To address these issues, effective October 1, 2004, the Federal Reserve System is shifting to
a completely automated notification process for all check adjustment and settlement entries posted by 4
p.m. ET. Replacing telephone notifications, this web-based process, accessible via FedLine® Web,
allows you to monitor your adjustments and entries, as well as control the threshold at which you want to
be notified of such activity. FedLine® Web gives you access to real-time information as entries are
posted.
Two FedLine® Web applications are available to assist you in this process. Your institution
may already subscribe to these services, which provide a variety of ways to monitor your reserve
position:

For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal
Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012;
Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810.

-2Account Management Information (AMI): This service allows you to view real-time
accounting transactions posted to your Federal Reserve account. AMI offers a variety of reports
and inquiry services that provide a reliable and timely source of information to assist you in
making account management decisions and complying with Federal Reserve Payments System
Risk policies. Also, using the View Notifications feature, you can choose to receive notifications
on postings with specific transaction codes or on transactions meeting a certain dollar threshold.
Check Adjustments (CA): In addition to providing you with the ability to submit check
adjustment requests electronically, this service allows financial institutions to monitor all check
adjustment and settlement transactions initiated by the Reserve Banks. Advices are posted to the
in-box throughout the day and can be easily sorted by dollar amount.
If you choose not to take advantage of these web-based services, you may elect to receive all
check adjustment and settlement advices via FedMail® e-mail or, for a fee, via FedMail fax.
Please note that we will continue to make courtesy calls on those entries over $50,000 that
are posted after 4 p.m. ET unless those entries are being posted directly in response to an adjustment
request.
We realize this is a significant change, but we hope you agree that it is a positive step as we
all seek to achieve the greatest possible efficiencies in our daily processes and interactions. Although
telephone notifications will continue through September 30, we encourage you to visit FedLine® Web
soon to become familiar with its capabilities and to initiate service setup (as required) to help ensure your
transition on October 1 will be a smooth one.
MORE INFORMATION
For more information regarding FedLine Web AMI and CA services, or to view a demo,
please visit www.frbservices.org/Electronic-Access/FedlineWebServ.html. To subscribe to any of the
services, or for more information, please contact one of the account executives listed below.
Rick Flansburg
Michele Hitchings
Jim McCammon
Susan Vice
Kathy Waggoner

(210) 978-1661
(713) 652-9141
(214) 922-5491
(214) 922-5430
(713) 652-9146

Paper copies of this notice or previous Federal Reserve Bank notices can be printed from our
web site at www.dallasfed.org/banking/notices/index.html.
Sincerely,