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Federal R eserve Bank

J . S A L V A G G IO


April 117, 1QQ9

DALLAS, TEXAS 7 5 2 2 2

Notice 92-31

The Chief Operations Officer at
all financial institutions in the
Eleventh Federal Reserve District
Processing and Settlement of Wire Transfers
of Funds, S e c uritie s , and ACH Items
on July 3, 1992

The Federal Reserve S ystem’s Regulation J (Collection of Checks and
Other Items and Wire Transfers of Funds by Federal Reserve Banks) and the
Federal Reserve Bank of D a l l a s ’ Operating Circular 11 (Automated Clearing
House Operations) establishes that holidays falling on Sunday will be observed
the following Monday.
However, Reserve Banks will not observe a holiday on
the preceding Friday if a holiday falls on a Saturday, in keeping with Texas
and New Mexico state law for commercial financial institutions.
Louisiana law
allows commercial financial institutions the option of a Friday holiday but
does not mandate it.
Federal Reserve Operating Circulars and Subpart B of Regulation J
provide for settlement of electronic payments (funds and securities transfers
and ACH) on the date the item is processed (funds and securities) or the date
specified in the item (ACH) if the Reserve Banks are open.
Therefore, wire transfers of funds and securities received by
Eleventh District financial institutions on Friday, July 3, 1992, will be
posted and settled to the account of the receiving financial institution. ACH
items scheduled for settlement on Friday, July 3, 1992, will be settled as
Financial institutions observing July 3 as a holiday should not
negotiate transfers of securities to settle that day. However, should
securities be received for an online financial institution, the receiver’s
account will be charged unless this Bank has been notified otherwise.
fers of securities received for online financial institutions will not be
accepted without prior authorization.
Eleventh District financial institutions wishing to conduct wire
transfer of funds, securities, or ACH items on Friday, July 3, 1992, will be
able to connect to the Federal Reserve Bank of Dallas and its branches and

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 (




conduct business.
Financial institutions that desire to determine the
legality of backroom operations on a state holiday should contact the appro­
priate state agency instead of the Federal Reserve Bank.

If you have any questions or need additional information, please
contact one of the following persons:
For Wire Transfer and ACH

Larry Ripley, (214) 651-6118, or Jonnie Miller, (214) 651-6290, at the Dallas
Office; Eloise Guinn, (915) 521-8201, at the El Paso Office; Luke Richards,
(713) 652-1544, at the Houston Office; or Herb Barbee, (512) 978-1402, at the
San Antonio Office.
For Securities Transfers

Robert Feil, (214) 651-6690, or Nancy Barton, (214) 698-4248, at the Dallas
Office; Luke Richards, (713) 652-1544, at the Houston Office; or Richard
Gutierrez, (512) 978-1401, at the San Antonio office.
For additional copies of this B a n k ’s notice, please contact the
Public Affairs Department at (214) 651-6289.

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