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Federal Reserve Bank OF DALLAS TONY J. SALVAGGIO DALLAS , TEXAS F I R S T V I C E P R E S ID E N T 7 5 2 6 5 -5 9 0 6 November 10, 1993 Notice 93-118 TO: The Chief Operating Officer of each financial institution in the Eleventh Federal Reserve District SUBJECT Payment for Checks Presented on December 24 and 31, 1993 DETAILS Because Christmas Day 1993 and New Y e a r ’s Day 1994 fall on Saturday, special procedures for check collection will be in effect. Friday, December 24 and Friday, December 31 will not be observed as holidays by the Federal Reserve Bank of Dallas. Federal Reserve Banks are required to charge deposi tory institutions for checks made available to them on holidays not observed by Reserve Banks or receive compensation for the cost of float. If depository institutions are required by law to close (mandatory nonstandard holidays), these procedures do not apply. The 73rd Texas Legislature repealed Texas Banking Code Article 342910a in its entirety effective September 1, 1993. As a result, there are no mandatory holidays or mandatory nonstandard holidays for Texas banks. Deposi tory institutions in Louisiana and Texas who intend to close on December 24 or 31, 1993, must make arrangements to pay for cash items made available to them by Reserve Banks or to compensate the Reserve Bank for the cost of float. If your institution elects to pay for the cost of float, please provide ten d a y s ’ prior written notice to Terry Campbell at the Dallas Office, Eloise Guinn at the El Paso Office, Luke Richards at the Houston Office, or Herb Barbee at the San Antonio Office. You may choose to be charged by "as of adjustment" or by an explicit charge. Normal cash letter deliveries will be made to institutions in Louisiana and Texas on December 24 and 31. Because December 24 and 31, 1993, are mandatory nonstandard holidays in New Mexico, banks in that state will not be charged for cash items, and no cash letters will be delivered to banks in New Mexico on those days. MORE INFORMATION For more information, please contact Terry Campbell, (214) 922-6603 or Johnny Johnson, (214) 922-5427, at the Dallas Office; Eloise 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) - 2 - Guinn, (915) 521-8201, at the El Paso Office; Luke Richards, (713) 652-1544, at the Houston Office; or Herb Barbee, (210) 978-1402, at the San Antonio Office. For additional copies of this Ba n k ’s notice, please contact the Public Affairs Department at (214) 922-5254. Sincerely,