View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Federal Reserve Bank
of

Dallas

HELEN E. H O LC O M B
DALLAS, TEXAS

FIRS T VICE P R E S ID E N T AND

75265-5906

CH IE F O PE R A TIN G OFFICER

September 17, 1997

Notice 97-82

TO:

The Chief Operating Officer of each
financial institution and others concerned
in the Eleventh Federal Reserve District

SUBJECT
New Procedures for Handling
Lost Treasury Checks
DETAILS
Effective immediately, the United States Treasury Financial Management Service
(FMS) and the Federal Reserve Banks (FRBs) will implement new procedures for handling lost
Treasury checks Effective immediately. The new procedures should expedite the resolution of
lost items and reduce the number of man-hours associated with handling lost Treasury checks.
Until now, when your institution suspected a lost Treasury check(s), one legible
photocopy of the front and back of each item had to be submitted with an adjustment request
form to the Government Check Adjustments section of your local FRB. The FRB’s Government
Check Adjustments section then submitted information to the FMS for verification of the paid
items. If the items had been paid, the FMS provided the source of receipt. If the items had not
been paid, the FMS issued a replacement check. This process could take several weeks to
complete.
The new procedures will expedite the process by eliminating the replacement check
process. When your institution suspects a lost Treasury check(s), please follow the procedures
listed below:
•

Provide one legible photocopy of the front and back of each item. The item
should be stamped on the front of the copy “Photo in Lieu of the Original.” In­
demnifying the photocopies will not be necessary.

•

Ensure that each item has a current endorsement.

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.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

•

Place the photocopy in a document carrier that has been fully encoded with all
MICR-line information.

•

Include a copy of the charge or a letter stating how the item(s) was lost.

•

Submit an adjustment request form, with a separate cash letter attached, to the
Government Check Adjustments section of your local FRB.

Upon receipt, the Government Check Adjustments section will verify the paid status
of a sampling of the items. As before, if the items have been paid, FMS will provide the source
of receipt. If the items have not been paid, credit for the photocopied items will be passed to
your institution, and the items will be submitted to the Check Processing area for handling. This
process should take less than a week to complete.
If both the original and the photocopy are submitted for payment, the photocopy item
will be charged back to the institution. FMS will retain all original Treasury checks.
MORE INFORMATION
For more information regarding the new procedures, please contact Charles Hunter at
(214) 922-6543. For additional copies of this Bank’s notice, please contact the Public Affairs
Department at (214) 922-5254.
Sincerely,

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