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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

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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The 73rd Texas Legislature repealed Texas Banking Code Article 342910a in its entirety effective September 1, 1993.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)

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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,

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