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Federal Reserve Bank of Dallas l l★K HELEN E. HOLCOMB DALLAS, TEXAS 75265-5906 FIRST VICE PRESIDENT AND CHIEF OPERATING OFFICER June 4, 1999 Notice 99-38 TO: The Chief Operating Officer of each financial institution and others concerned in the Eleventh Federal Reserve District SUBJECT Price Changes for Check Collection DETAILS The Federal Reserve Bank of Dallas is announcing changes to check collection service charges, effective July 5, 1999. The changes affect forward check collection and return check. ATTACHMENT A copy of the revised fees, separated by Eleventh District Office, is attached. MORE INFORMATION For more information on these changes or check collection services in general, please contact Don Jackson, (214) 922-5431, at the Dallas Office; Eloise Guinn, (915) 521-8201, at the El Paso Branch; René Gonzales, (713) 652-1543, at the Houston Branch; or Herb Barbee, (210) 978-1402, at the San Antonio Branch. For additional copies of this Bank’s notice, please contact the Public Affairs Department at (214) 922-5254. Sincerely, 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. REVISED FEES FOR CHECK COLLECTION Federal Reserve Bank of Dallas Effective July 5, 1999 FORWARD CHECK COLLECTION LOCAL DEPOSITORS DALLAS REQUIREMENTS DEADLINE1/ AVAILABILITY CASH LETTER FEE Mixed* None 12:01 a.m. 9:00 a.m. 11:00 p.m. M-Th 10:00 p.m. Sat Calc.2/ $ 3.50 Calc.3/ 4/ Early Mixed None 7:00 p.m. M-Th/ Sat Calc.2/ $ 10.00 $ .035 1110/3110 1111/3111 1119/3119 12:01 a.m. 3:00 a.m. 3:00 a.m. Immediate Immediate Immediate $ 4.75 $ 6.75 $ 6.75 1110/3110 1110/3110 9:00 a.m. 9:30 a.m. 9:30 a.m. 9:30 a.m. Immediate Immediate Immediate Immediate $ $ $ $ 7/ 9:30 a.m. Immediate $ 4.00 $ .008 1111/3111 1119/3119 1111/3111 1119/3119 12:01 a.m. 12:01 a.m. 3:00 a.m. 3:00 a.m. 3:00 a.m. 4:00 a.m. 5:30 a.m. 3:00 a.m. 4:00 a.m.8/ Immediate Immediate Immediate Immediate Immediate Immediate Immediate Immediate Immediate $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 11:00 p.m. M-Th 8:30 p.m. Sun & Hol 12:01 a.m. Tue-F 9:45 p.m. Sun & Hol 8:00 a.m. 1 Day $ 4.75 $ .031 Immediate/ 1 Day 1 Day $ 6.00 $ .013 $ 4.75 $ .017 Calc.2/ $ 4.75 Calc.4/ 1 Day $ 4.00 Calc.7 / 9/ CASH LETTER TYPE RCPC-Plus-City** City Regular Premium Group Fine ECL City Group Sort RCPC Regular Premium Group Regular Group 4 and 5 Group Late Premium RCPC GS/Payor Fine Country Regular Fine Early Country Federal Nationwide City Sort SORTING 7/ Endpoint 7/ 7/ 7/ 7/ Endpoint 1113/3113 Endpoint 1113/3113 Nonlocal All Fed City 9/ 11:00 p.m. M-Th 10:00 p.m. Sat 11:00 p.m. M-Th 10:00 p.m. Sat 4.50 4.50 4.50 7.00 4.75 4.75 6.75 6.75 4.75 4.75 4.75 4.75 7.00 PER ITEM FEE 5/ 6/ 6/ $ $ $ $ .017 .027 .012 .007 .023 .023 .048 .048 .017 .017 .05 .012 .01 07/99 FORWARD CHECK COLLECTION LOCAL DEPOSITORS DALLAS (cont’d) DEADLINE AVAILABILITY CASH LETTER FEE 7/ 8:30 a.m. Immediate $14.00 $ .15 1113/3113 7/ Immediate $ 6.00 $ .01 City RCPC Country Federal 9:00 a.m. 9:00 a.m. 9:00 a.m. 9:00 a.m. 1 Day 1 Day 2 Day 2 Day $ $ $ $ $ .40 $ .40 $ .40 $ .55 None 7/ Canadian R/T 7/ 7/ E/Z Clear Bonds 12:01 a.m., 3:00 p.m. Immediate None U.S. Treasury Checks 12:01 a.m., 3:00 p.m. Immediate None Postal Money Orders 12:01 a.m., 3:00 p.m. Immediate None 12:01 a.m., 3:00 p.m. Immediate None CASH LETTER TYPE High Dollar Group Sort Offsite7/ Nonmachineable Encoding10/ Canadian C/L Checks Drawn on Local FRB * SORTING REQUIREMENTS 1110-0003-8 1/ 4.75 4.75 4.75 4.75 PER ITEM FEE $ .07 $ 6.00 7/ U.S. Treasury Checks, Postal Money Orders and EZ Clear Bonds deposited in Mixed cash letters are at the published City per-item fee. These items are handled at no charge when deposited in separately sorted cash letters at either 12:01 a.m. or 3:00 p.m. ** Sorting requirements apply to RCPC-Plus-City deadlines and fees. 1/ 2/ 3/ 4/ 5/ 6/ 7/ Deadline times are Monday through Friday except where noted. Contact Dallas Office for availability. Local mixed item fees are: City .019; RCPC .025; Country .033. Rejects are .054 each, and noncommercial items are calculated as city items. Nonlocal Eleventh District item fees are: City .039; RCPC .049; HDGS Cull at .35. The fee for all out-of-district items is .055, except HDGS Cull at .35. The HDGS Cull lower limit is based on the latest Fed Funds rate target. RCPC-Plus-City fees are: City .019; RCPC .025; Rejects .054. RCPC-Plus-City fees are: City .019; RCPC Premium .05; Rejects .054. Contact Dallas Office for details. 8/ The deadline is 5:00 a.m. for fine sort letters to RCPC Regular/Premium group sort banks. 9/ Nationwide City Sort fees are: Tier 1, .024; Tier 2, .034. 10/ Price for encoding only. Must be received three hours prior to next available mixed deadline. 07/99 RETURNED CHECK LOCAL DEPOSITORS DALLAS Raw Returns Mixed Sorted Qualified Returns Mixed City Regular Premium Fine RCPC Regular Premium Fine Country Regular REQUIREMENTS DEADLINE AVAILABILITY None City RCPC Country Federal 8:00 p.m. (Sun-Th) 12:01 a.m. 12:01 a.m. 12:01 a.m. 12:01 a.m. 2 Day2/ Immediate Immediate 1 Day 2 Day $4.00 $4.50 $4.75 $4.75 $4.75 Calc.3/ $1.10 $1.10 $1.10 $1.25 Calc.2/ 1 Day 2 Day 2 Day $3.50 Calc.4/ 12:01 a.m./9:00 a.m. 11:00 p.m. M-Th 10:00 p.m. Sat CASH LETTER TYPE RETURN LETTER FEE 1110/3110 1110/3110 Endpoint 9:00 a.m. 9:30 a.m. 9:30 a.m. Immediate Immediate Immediate $4.50 $4.50 $6.00 $ .28 $ .36 $ .007 1111/3111 1119/3119 1111/3111 1119/3119 Endpoint 12:01 a.m. Immediate $4.75 $ .31 3:00 a.m. Immediate $6.75 $ .42 4:00 a.m. Immediate $6.00 $ .01 1113/3113 11:00 p.m. M-Th 8:30 p.m. Sun & Hol 12:01 a.m. Tue-F 9:45 p.m. Sun & Hol 11:00 p.m. M-Th 10:00 p.m. Sat 1 Day $4.75 $ .34 Immediate 1 Day 2 Day $6.00 $ .013 $4.75 $ .66 SORTING None Fine Endpoint Federal Nonlocal Returned Reclear Large Dollar Return Item Notification (LDRIN) Online wire notice Telephone call to Fed Physical check to Fed7/ 1/ 5/ PER ITEM FEE $ .256/ 12:00 noon 9:00 a.m. 9:00 a.m. $1.75 $6.00 $7.25 07/99 RETURNED CHECK LOCAL DEPOSITORS DALLAS (cont’d) 1/ 2/ 3/ 4/ 5/ 6/ 7/ Deadline times are Monday through Friday except where noted. Contact the Returned Check Division if you prefer calculated availability. Mixed raw return per-item fees are: Local $1.12; Federal $1.27; Rejects $1.15. Qualified mixed returned item fees are: City .30; RCPC .33; Country .36; Federal .68; Rejects .42. Contact Dallas Office for details. $2.50 minimum charge. Special separate return letter required. 07/99 FORWARD CHECK COLLECTION LOCAL DEPOSITORS EL PASO CASH LETTER TYPE Mixed RCPC-Plus-City Regular Premium City Regular Premium Fine ECL City Group Sort RCPC Regular Premium Group RCPC GS/Payor Fine Federal Interdistrict/Other Fed Group Sort Interdistrict/Other Fed RCPC and Country Group Sort Nationwide City Sort Nonmachineable REQUIREMENTS DEADLINE1 / AVAILABILITY CASH LETTER FEE None 2:00 a.m. 9:15 a.m. 1:00 p.m. Calc.2/ $3.50 Calc.3/ 4/ 1120/3120 1122/3122 1123/3123 1163/3163 1120/3120 1122/3122 1123/3123 1163/3163 2:00 a.m. 2:00 a.m. 2:00 a.m. 2:00 a.m. 3:00 a.m. 3:00 a.m. 3:00 a.m. 3:00 a.m. Immediate Immediate Immediate Immediate Immediate Immediate Immediate Immediate $4.75 $4.75 $4.75 $4.75 $7.00 $7.00 $7.00 $7.00 5/ 1120/3120 1120/3120 Endpoint 9:15 a.m. 9:45 a.m. 10:15 a.m. Immediate Immediate Immediate $4.50 $4.50 $7.00 $ .016 $ .026 $ .006 7/ 8:15 a.m. Immediate $4.00 $ .007 1122/3122 1123/3123 1163/3163 1122/3122 1123/3123 1163/3163 2:00 a.m. 2:00 a.m. 2:00 a.m. 3:00 a.m. 3:00 a.m. 3:00 a.m. 3:00 a.m. 3:00 a.m. 3:00 a.m. Immediate Immediate Immediate Immediate Immediate Immediate Immediate Immediate Immediate $4.75 $4.75 $4.75 $7.00 $7.00 $7.00 $4.75 $4.75 $7.00 $ .032 $ .032 $ .032 $ .062 $ .062 $ .062 $ .023 $ .014 $ .014 1:00 p.m. Calc.2/ $4.50 Calc.4/ 1:30 p.m. 1 Day $4.00 $ .03 1:30 p.m. 1:30 p.m. 2 Day 1 Day $4.00 $4.00 $ .048 Calc.8/ 9:15 a.m. 9:15 a.m. 9:15 a.m. 1 Day 1 Day 2 Day $4.75 $4.75 $4.75 $ .35 $ .40 $ .55 SORTING 7/ 7/ Endpoint Nonlocal Selected Cities7/ 7/ 7/ City RCPC Federal PER ITEM FEE 5/ 5/ 5/ 6/ 6/ 6/ 6/ 07/99 FORWARD CHECK COLLECTION LOCAL DEPOSITORS EL PASO (cont’d) CASH LETTER TYPE SORTING CASH LETTER FEE PER ITEM FEE REQUIREMENTS DEADLINE1 / None 7/ Canadian R/T 7/ 7/ E/Z Clear Bonds 2:00 a.m., 2:00 p.m. Immediate None U.S. Treasury Checks 2:00 a.m., 2:00 p.m. 3:00 p.m. Immediate None Postal Money Orders 2:00 a.m., 2:00 p.m. 3:00 p.m. Immediate None 2:00 a.m., 2:00 p.m. 3:00 p.m. Immediate None Encoding9 / Canadian C/L Checks Drawn on Local FRB 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9/ 1120-0001-1 AVAILABILITY $ .07 $6.00 7/ Deadline times are Monday through Friday except where noted. Contact El Paso Office for availability. Local mixed item fees are: City .017; RCPC .033. Rejects are .052 each, and noncommercial items are calculated as city items. Nonlocal Eleventh District item fees are: City .038; RCPC .048; Country .059; HDGS Cull at .35. The fee for all out-of-district items is .054, except HDGS Cull at .35. The HDGS Cull lower limit is based on the latest Fed Funds rate target. RCPC-Plus-City fees are: City .018; RCPC .034; Rejects .052. RCPC-Plus-City fees are: City .018; RCPC Premium .064; Rejects .052. Contact El Paso Office for details. Nationwide City Sort fees are: Tier 1, .024; Tier 2, .034. Price for encoding only. Processing is an additional charge. Note: New Mexico Transportation Relay: $3.00 minimum, $.001 per item. Contact El Paso Office for details. 07/99 RETURNED CHECK LOCAL DEPOSITORS EL PASO SORTING REQUIREMENTS DEADLINE1/ AVAILABILITY RETURN LETTER FEE None City RCPC Federal 8:00 p.m. (Sun-Th) 2:00 a.m. 2:00 a.m. 2:00 a.m. 2 Day2/ Immediate Immediate Calc. $4.00 $4.50 $4.75 $4.50 Calc.3/ $ 1.00 $ 1.00 $ 1.15 $4.00 Calc.4/ 2:00 a.m. 9:15 a.m. 1:00 p.m. Calc.2/ 1 Day 1 Day 2 Day 1120/3120 1120/3120 Endpoint 9:15 a.m. 9:45 a.m. 10:15 a.m. Immediate Immediate Immediate $4.50 $4.50 $6.50 $ .25 $ .50 $ .015 2:00 a.m. Immediate $4.75 $ .30 3:00 a.m. Immediate $6.75 $ .75 Fine 1122/3122 1123/3123 1163/3163 1122/3122 1123/3123 1163/3163 Endpoint 3:00 a.m. Immediate $6.50 $ .017 Federal Nonlocal 1:00 p.m. Calc. $4.50 $ .85 CASH LETTER TYPE Raw Returns Mixed Sorted Qualified Returns Mixed City Regular Premium Fine RCPC Regular Premium None Returned Item Reclearing Service5/ Large Dollar Return Item Notification (LDRIN) Online wire notice Telephone call to Fed Physical check to Fed6/ Calc. 12:00 noon 9:00 a.m. 9:00 a.m. PER ITEM FEE $ .25 $ 1.75 $ 6.00 $ 7.25 07/99 RETURNED CHECK LOCAL DEPOSITORS EL PASO (cont’d) 1/ 2/ 3/ 4/ 5/ 6/ Deadline times are Monday through Friday except where noted. Contact the Returned Check Division if you prefer calculated availability. Mixed raw returned per-item fees are: Local $1.25; Federal $1.40; Rejects $1.30. Qualified mixed returned item fees are: City .26; RCPC .31; Federal .86; Rejects .35. A daily minimum fee of $2.50 applies, regardless of the number of items cleared. An additional fee of 25 cents will be applied to each item examined over 10 items per day. Please contact the El Paso Office for details to initiate service. Special separate return letter required. 07/99 FORWARD CHECK COLLECTION LOCAL DEPOSITORS HOUSTON CASH LETTER TYPE SORTING REQUIREMENTS Mixed RCPC-Plus-City* City Regular Premium Harris County Group Group Fine ECL City Group Sort RCPC Regular Premium Group RCPC G/S Payor Fine Federal Interdistrict/Other Fed Group Sort Brown Zone Group Sort Interdistrict/Other Fed RCPC & Country Group Sort ECL Interdistrict/Other Fed RCPC & Country Group Sort Nationwide City Sort Other Fed Unsorted ECL Other Fed Unsorted High Dollar Group Sort DEADLINE1/ AVAILABILITY CASH LETTER FEE PER ITEM FEE None 2:30 a.m. 9:00 a.m. 9:30 p.m. M-Th/Sat Calc.2/ $3.50 Calc.3/ 4/ 1130/3130 1131/3131 2:30 a.m. 3:45 a.m. Immediate Immediate $4.25 $6.25 5/ 1130/3130 1130/3130 9:00 a.m. 9:30 a.m. 11:00 a.m. $4.00 $4.00 $4.00 $4.00 $6.50 $ .017 $ .027 $ .016 $ .009 $ .006 6/ 7/ 8/ Endpoint 11:00 a.m. Immediate Immediate Immediate Immediate Immediate 7/ 8:00 a.m. Immediate $4.00 $ .008 1131/3131 1131/3131 2:30 a.m. 3:45 a.m. 3:45 a.m. 4:00 a.m. 4:00 a.m.8/ Immediate Immediate Immediate Immediate Immediate $4.25 $6.25 $4.25 $4.25 $6.50 $ .023 $ .047 $ .012 $ .009 $ .009 2:30 a.m. M-Th Calc.2/ 9:30 p.m. M-Th/Sat 10:00 p.m. Calc.2/ M-Th/Sat 2:30 a.m. M-Th/ Immediate 10:00 p.m. Sat Calc.2/ 9:30 p.m. M-Th 2 Day 10:00 p.m. Sat 2 Day 9:30 p.m. M-Th 2 Day 10:00 p.m. Sat 2 Day 10:00 p.m. M-Th/Sat Calc.2/ 10:00 p.m. Sat 2 Day 10:00 p.m. Sat 2 Day $4.00 Calc.4/ $4.00 $ .03 $4.00 $ .043 $4.00 $4.00 $4.00 $4.00 $4.00 $4.00 $4.00 $ .043 $ .038 $ .042 $ .037 Calc.9/ $ .039 $ .038 $12.00 $ .075 7/ 7/ 7/ Endpoint Nonlocal Selected Cities7/ 7/ 7/ 7/ 7/ 7/ 7/ 7/ 9:00 a.m. Tue-F Immediate 07/99 FORWARD CHECK COLLECTION LOCAL DEPOSITORS HOUSTON (cont’d) REQUIREMENTS DEADLINE1 / AVAILABILITY CASH LETTER FEE City RCPC Federal 9:00 a.m. 9:00 a.m. 9:00 a.m. 1 Day 1 Day 2 Day $4.25 $4.25 $4.25 None 9:00 p.m. Canadian R/T 7/ 7/ E/Z Clear Bonds 1:00 a.m., 3:00 p.m. Immediate None U.S. Treasury Checks 1:00 a.m., 3:00 p.m. Immediate None Postal Money Orders 1:00 a.m., 3:00 p.m. Immediate None 1:00 a.m., 3:00 p.m. Immediate None CASH LETTER TYPE Nonmachineable Encoding10/ Canadian C/L Checks Drawn on Local FRB SORTING 1130-0004-9 PER ITEM FEE $.45 $.45 $.60 $.07 $5.507/ * Sorting requirements apply to RCPC-Plus-City deadlines and fees. 1/ 2/ 3/ 4/ 5/ 6/ 7/ Deadline times are Monday through Friday except where noted. Contact Houston Office for availability. Local mixed item fees are: City .018; RCPC .024. Rejects are .052 each, and noncommercial items are calculated as city items. Nonlocal Eleventh District item fees are: City .039; RCPC .049; Country .060; HDGS Cull at .351. The fee for all out-of-district items is .055, except HDGS Cull at .351. The HDGS Cull lower limit is based on the latest Fed Funds rate target. RCPC-Plus-City fees are: City .019; RCPC .025; Rejects .053. RCPC-Plus-City fees are: City .019; RCPC Premium .049; Rejects .053. Contact Houston Office for details. 8/ The deadline is 5:00 a.m. for fine sort letters to RCPC Regular/Premium group sort banks. 9/ Nationwide City Sort fees are: Tier 1, .024; Tier 2, .034. 10/ Price for encoding only. Processing is an additional charge. 07/99 FORWARD CHECK COLLECTION LOCAL DEPOSITORS SAN ANTONIO CASH LETTER TYPE SORTING CASH LETTER FEE PER ITEM FEE Calc.3/ 4/ REQUIREMENTS DEADLINE1/ AVAILABILITY None 12:01 a.m. 2:00 a.m. 9:30 a.m. 10:00 p.m. Calc.2/ $3.50 1140/3140 1149/3149 2:00 a.m. 3:45 a.m. Immediate Immediate $4.75 $6.75 5/ 1140/3140 1140/3140 9:30 a.m. 10:00 a.m. 10:00 a.m. 10:30 a.m. Immediate Immediate Immediate Immediate $4.00 $4.00 $4.00 $6.50 $.016 $.026 $.009 $.008 7/ 9:30 a.m. Immediate $3.50 $.007 1149/3149 1149/3149 2:00 a.m. 3:45 a.m. 4:00 a.m.8/ 4:00 a.m. 4:00 a.m. Immediate Immediate Immediate Immediate Immediate $4.25 $6.75 $4.25 $4.25 $7.00 $.022 $.046 $.012 $.009 $.009 Federal Nonlocal Interdistrict/Other Fed Selected Cities7 / Group Sort 7/ Interdistrict/Other Fed RCPC & Country Group Sort 7/ Nationwide City Sort 10:00 p.m. 10:00 p.m. Calc.2/ 1 Day $4.00 $4.00 Calc.4/ $.03 9:30 p.m. 2 Day $4.00 $.048 10:00 p.m. 1 Day $4.00 $.034 Nonmachineable City RCPC Federal 9:30 a.m. 9:30 a.m. 9:30 a.m. 1 Day 1 Day 2 Day $4.25 $4.75 $4.25 $.55 $.55 $.70 None 7/ 7/ Canadian R/T 7/ 7/ Mixed RCPC-Plus-City* City Regular Premium Group Fine ECL City Group Sort RCPC Regular Premium Group RCPC G/S Payor Fine Encoding9/ Canadian C/L 7/ Endpoint 7/ 7/ Endpoint 6/ $.035 $5.507/ 7/ 07/99 FORWARD CHECK COLLECTION LOCAL DEPOSITORS SAN ANTONIO (cont’d) CASH LETTER TYPE SORTING CASH LETTER FEE PER ITEM FEE DEADLINE1/ AVAILABILITY E/Z Clear Bonds 12:01 a.m., 3:00 p.m. Immediate None U.S. Treasury Checks 12:01 a.m., 3:00 p.m. Immediate None Postal Money Orders 12:01 a.m., 3:00 p.m. Immediate None 12:01 a.m., 3:00 p.m. Immediate None Checks Drawn on Local FRB REQUIREMENTS 1140-0072-1 * Sorting requirements apply to RCPC-Plus-City deadlines and fees. 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9/ Deadline times are Monday through Friday except where noted. Contact San Antonio Office for availability. Local mixed item fees are: City .018; RCPC .024. Rejects are .053 each, and noncommercial items are calculated as city items. Nonlocal Eleventh District item fees are: City .039; RCPC .049; Country .060; HDGS Cull at .35. The fee for all out-of-district items is .055, except HDGS Cull at .35. The HDGS Cull lower limit is based on the latest Fed Funds rate target. RCPC-Plus-City fees are: City .018; RCPC .024; Rejects .053. RCPC-Plus-City fees are: City .018; RCPC Premium .048; Rejects .053. Contact San Antonio Office for details. Several deadlines are available; contact San Antonio Office for details. Price for encoding only. Processing is an additional charge. 07/99
@FedFRASER