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Federal reserve Bank OF DALLAS Dallas, Texas, June 30, 1966 LIMITED SATURDAY OPERATIONS To All Banks in the Eleventh Federal Reserve District: Beginning July 9, 1966, the check clearing operation at this bank and its branches on Saturday will be limited to the processing and dispatching o f deferred credit items which are MICR encoded as to amount and received in separate cash letters. Items pres ently processed on conventional proof machines on Saturday will be handled on the following business day. Incident to this change, we have issued the enclosed Amendment No. 2 to our Bulletin No. 8 and Amendment No. 1 to our Bulletin No. 8A. These amendments are effective July 7, 1966. Also on July 9, 1966, we will discontinue processing and dispatching returned items on Saturday. Member banks are requested to file the enclosed amendments in the ring binder of regulations o f the Board of Governors o f the Federal Reserve System and bulletins o f this bank. Nonmember banks are asked to file them in the red binder containing emer gency bulletins of this bank. Please acknowledge receipt o f these amendments by signing and returning the attached postal card. Yours very truly, Watrous H. Irons President Enclosures (3) This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) FEDERAL RESERVE BANK OF DALLAS Amendment No. 2 Effective July 7, 1966 to Bulletin No. 8 dated September 1, 1964 COLLECTION OF CASH ITEMS T o the Member and Nonmember Clearing Banks o f the Eleventh Federal Reserve District: Effective July 7, 1966, this bank’s Bulletin No. 8, dated September 1, 1964, and amended April 23, 1965, is hereby further amended by a revision of paragraph 39 (printed in the 1964 bulletin as paragraph 38 but renumbered paragraph 39 by the 1965 amendment). The revised paragraph 39 reads as follow s: 39. The depositor of each cash item which is sent to this bank for han dling hereunder and every prior collecting bank agree with respect to such item that: (1 ) this bank may handle and forward such item hereunder to any bank whose name or designation appears on the item as the bank by, at, or through which the item is payable, whether such name or designation is written or made by means of any magnetically-in scribed routing symbol and A B A transit number, or by means of any routing symbol and A B A transit number not magnetically in scribed, or by any other means; (2) if the item does not bear any routing symbol and A B A transit number, this bank may inscribe on the item in magnetic ink, or otherwise write thereon, the routing symbol, the A B A transit num ber, or both, of the bank by, at, or through which the item is pay able, and handle and forward the item accordingly; (3) any item incompatible for processing on M ICR high-speed checkhandling equipment, or rejected by such equipment, received by this bank on Friday (or on Thursday, if Friday is a holiday) and on Saturday, may be held over and processed on the following Monday (or if Monday is a holiday, on the following Tuesday). The depositor o f such item and each such collecting bank hereby are given notice and recognize that the efficient operation of the Federal Reserve collec tion system makes impracticable the assumption by the Federal Reserve banks of any responsibility for delay resulting from action taken by this bank, as stated in (1 ), (2 ), and (3 ) above; and they hereby assume any and all risk of loss arising from any such delay and agree that the handling of such item in accordance herewith shall constitute the exercise of ordinary care by this bank. Yours very truly, Watrous H. Irons President FEDERAL RESERVE BANK OF DALLAS Amendment No. 1 Effective July 7, 1966 to Bulletin No. 8A dated October 15, 1959 CHECK COLLECTION TIME SCHEDULE AND OTHER INFORMATION RELATING TO THE COLLECTION OF CASH ITEMS T o the Member and Nonmember Clearing Banks of the Eleventh Federal Reserve D istrict: 7 Effective July , 1966, this bank’s Bulletin No. 8A, dated October 15, 1959, and containing check collection time schedules of our respective offices dated August , 1961, is hereby amended in the following respects: 7 Paragraph 7 7 is revised to read: . This bank is closed for general banking purposes on Satur day, as permitted under the provisions of Article 4591d, Vernon’s Revised Civil Statutes of Texas, and Saturday is not a business day under this bulletin, except that (1) it is a business day for deferment purposes under the conditions set forth in paragraph 8 below, and (2) on any Saturday which is not a legal holiday for this bank, or as to which no contrary notice has been given, deferred credit items which are M IC R encoded as to amount and received in separate cash letters will be accepted for processing and dispatching. Other items arriving at offices of this bank on Saturday will not be handled and will be treated as received on our follow ing business day. In paragraph 8 the second parenthetical statement is deleted and is replaced by the follow ing parenthetical statement: (except for items not M IC R encoded as to amount which are sent direct to other offices of the Federal Reserve Bank of Dallas). The deleted parenthetical statement with respect to maturity of credits on Saturday is covered by the provisions of paragraph 9. In paragraph 10 the parenthetical reference in the time schedule to the Saturday closing hour for receipt of deferred credit items is revised to rea d : Saturday, items M IC R encoded as to amount and received in separate cash letters, 11:00 a.m. Yours very truly, W atrous H. Irons President