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Federal reserve bank OF DALLAS W IL L IA M H. W ALLACE DALLAS, TEXAS 75222 FIRST VIC E PR ES ID EN T AND C H IE F O PER ATING O FFIC E R February 20, 1987 Circular 87-17 TO: The Daylight Overdraft Coordinator or the Chief Executive Officer of all financial institutions in the Eleventh Federal Reserve District SUBJECT Extension of comment period on payment risk (daylight overdraft) proposals DETAILS The Federal Reserve Board has extended the comment period on mostof its proposals issued December 10, 1986, to reduce the risks on large-dollar payment systems (see our Circular 86-112, dated December 12, 1986). The comment period has been extended from February 27 to April 3, 1987, for the proposals concerning the risks associated with book-entry securities transfers, the reduction of existing levels for net debit caps, the establishment of a "de minimis" cap category and the adoption of limits on inter-affiliate Fedwire transfers. The comment period for the proposed changes to the automated clearinghouse (ACH) procedures has been extended from March 16 to April 3, 1987. In addition, the Board also sought comments on the concept of charging a fee for all daylight overdrafts in accounts maintained with the Federal Reserve that are subject to the net debit cap. The end of that comment period remains April 13. MORE INFORMATION For more information, please contact George C. Cochran III at (214) 651-6257. Sincerely yours, For additional copies of any circular please contact the Public Affairs Department at (214) 651-6289. Banks and others are encouraged to use the following incoming WATS numbers in contacting this Bank (800) 442-7140 (intrastate) and (800) 527-9200 (interstate). This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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