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F ederal Reserve Bank of D allas DALLAS, TEXAS 75222 C ircular No. 71-108 May 6, 1971 FOOD COUPON PROGRAM To the Bank Addressed: Enclosed is a revised statem ent of the D epartm ent of A griculture, entitled “Procedures fo r Commercial Banks in H andling Food Coupons under The Food Stam p P rogram .” This revised procedure is being forw arded to member and nonmember banks in the vicinity of Nueces County, Texas, which is among the additional areas scheduled to commence operations under the Food Stamp P rogram during this month. U nder the provisions of this bank’s Bulletin No. 8, ‘‘Collection of Cash Item s” dated Septem ber 1, 1967, this bank and its branches, as fiscal agents of th e United States, will pay these food coupons and will accept them for im mediate credit when received prior to 2:00 p.m. Mondays through Fridays. Such credit will be given subject to verification and final paym ent, and any neces sary adjustm ents will be made under appropriate advice to sending banks. Member and nonmember clearing banks and nonmember banks which have arranged w ith us to deposit food stam p coupons fo r collection fo r credit to an account of a m ember bank on our books, may forw ard th e food coupons to us by means ordinarily used in forw arding checks for collection, or th e coupons may be forwarded by fourth-class mail (parcel post) if th e instructions outlined in paragraph C.4. of th e “Procedures” are followed. The ordinary check collection channels may also be used by any bank which does not elect to forw ard food stam ps directly to us for paym ent. Food coupons forw arded to this office fo r paym ent should be separately sorted from other items, with only th e total num ber and dollar am ount of each denomination shown on th e cash le tte r form. F or exam ple: 1.000 Food Coupons @ $ .50 = $ 500.00 1.000 Food Coupons @ 2.00 = 2,000.00 1.000 Food Coupons @ 5.00 = 5,000.00 3.000 $7,500.00 I t would facilitate th e handling of food coupons if they were forwarded in batches of 100 where quantity w arrants. If you have any questions regarding th e food coupons collection procedure, please let us know. Yours very truly, P. E. Coldwell P resident Enclosures (1) This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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