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Federal Reserve Bank of Dallas 2200 N. PEARL ST. DALLAS, TX 75201-2272 HELEN E. HOLCOMB FIRST VICE PRESIDENT AND CHIEF OPERATING OFFICER November 1, 2004 Notice 04-77 TO: The Chief Operating Officer of each financial institution and others concerned in the Eleventh Federal Reserve District SUBJECT Fuel Surcharge on Mixed and Other Fed Cash Letters to Take Effect December 1, 2004 DETAILS The continuing rising cost associated with fuel products has had a significant impact on business and individual consumers. In particular, because of fuel increase clauses in vendor contracts, we have seen aviation fuel prices associated with check transportation increase substantially. Because of the significant and unforeseen increases in our transportation costs, we must offset this increase by establishing the following surcharges effective December 1, 2004: • A surcharge of $0.50 per cash letter will be assessed on all forward and return cash letters containing Other Fed items. This will include all mixed and Other Fed deposits. • A surcharge of $0.001 will be assessed each consolidated item shipped via the Check Relay network. Note that direct send cash letters transported via private vendors will not be affected by the surcharge. 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. -2- Although we expect the surcharges to remain in effect for the foreseeable future, we will review them within 120 days of implementation as we continue to monitor the effect of fuel costs on our operations. If you have questions regarding these changes, please feel free to contact one of the account executives listed below. Rick Flansburg Jim McCammon Susan Vice Kathy Waggoner (210) 978-1661 (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,
@FedFRASER