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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


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102