The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F e d e r a l R e s e r v e Ba n k O F DALLAS February 24,1964 To All Banks in the Eleventh Federal Reserve District: The most recent survey by Federal Reserve banks to measure commercial bank participation in the Magnetic Ink Character Recognition Program of the American Bankers Association indicates that 88 percent of the checks cleared through the Federal Reserve System are preprinted in magnetic ink with the identification numbers of the banks on which they are drawn. However, only 79 percent of those cleared through Reserve bank offices of this district are preprinted. In addition to the banks now processing transit items on high-speed equipment, there are others planning to convert as soon as the 85 to 90 percentage ratio is reached. Because of the vital importance of the MICR program to the entire check collection system, I urge that all banks redouble their efforts to bring their checks into conformity with the program. A breakdown of the survey figures for the Eleventh District is furnished on the other side of this letter. Yours very truly, Watrous H. Irons President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) BREAKDOWN BY RESERVE OFFICES OF THE ELEVENTH DISTRICT Number o f Checks Surveyed Number of Checks Conforming Percentage of Conformity Dallas City Country 52,137 323,218 46,517 254,867 89 79 El Paso City Country 14,290 30,833 12,804 23,887 90 77 Houston City Country 35,512 150,963 31,850 114,906 90 76 San Antonio City Country 32,248 135,760 24,051 101,010 75 74 Office BREAKDOWN BY STATES LOCATED WHOLLY OR IN PART IN THE ELEVENTH DISTRICT Percent o f Preprinting Banks in 11th District A ll Banks in State 79 74 75 60 79 State 86 76 81 75 79 Arizona Louisiana New Mexico Oklahoma Texas BREAKDOWN FOR CERTAIN LARGER POINTS IN THE ELEVENTH DISTRICT C ity N um ber o f Checks Surveyed Num ber o f Checks C onform in g Percentage o f C onform ity Abilene, Texas 5,486 4,449 81 Amarillo, Texas 8,725 7,248 83 Austin, Texas 8,677 6,695 77 Beaumont, Texas 7,390 6,675 90 Corpus Christi, Texas 8,839 6,830 77 Fort Worth, Texas 8,205 7,486 91 Lubbock, Texas 5,224 3,423 66 Waco, Texas 3,998 2,448 61 Wichita Falls, Texas 4,204 3,119 74 Tucson, Arizona 1,564 1,321 84 Shreveport, Louisiana 11,513 9,334 81 Roswell, New Mexico 1,605 1,319 82 718 455 63 Durant, Oklahoma
@FedFRASER