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FED ER AL R ESERVE BANK OF DALLAS DALLAS. T E X A S 75222 Circular No. 82-17 February 11, 1982 REPORT OF TRANSACTION ACCOUNTS, OTHER DEPOSITS AND VAULT CASH (FR 2900) TO THE FINANCIAL INSTITUTION ADDRESSED IN THE ELEVENTH FEDERAL RESERVE DISTRICT: The Board o f G overnors o f the Federal R eserve System is concern ed that institu tions may be reporting funds re ce iv e d from the sale o f travelers' c h e c k s in correctly on Form FR 2900. If your institution issues VISA or MasterCard travelers' check s and those ch eck s are obligations o f your institution, funds re ce iv e d from sales should be reported in Item 3, "Other demand deposits." If, on the other hand, the c h eck s are the obligation o f another party and funds from the sale are not rem itted on a daily basis, the balances o f unrem itted funds should be reporte3 in one o f tw o places. If the obligator is another depository institution, the balances should be reported in Item 1, "Demand deposits due to depository institutions"; if the obligator is other than another depository institution, the balances should be reported in Item 3, "Other demand deposits." MasterCard check s are either the obligation o f the issuing institution or o f MasterCard International. Since Chase Manhattan Bank a cts in the c a p a c ity o f a "payable through bank" for clearing th e se ch eck s, the sale o f th ese ch e c k s by other institu tions are not an obligation o f Chase and should be reported by the sellin g institution in Item 3, "Other demand deposits." Any funds re ce iv e d from the s a le o f travelers' c h eck s that are r e m itte d on a daily basis to the obligator should not be reported on Form FR 2900. If you or your s t a f f have questions concerning the tr e a tm e n t o f travelers' ch eck s, please telephone Stephen Welch at (214) 651-6294 or Karen Salisbury at (214) 698-4205. Additional c o p ies o f this circular may be obtained by calling the D epartm ent o f C om m unications, Financial and C om m unity A ffairs, Ext. 6289. Sincerely yours, William H. W allace First Vice President Banks and others are encouraged to use the following incoming W A T S numbers in contacting this Bank: 1-800-442-7140 (intrastate) and 1-800-527-9200 (interstate). For calls placed locally, please use 651 plus the extension referred to above. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
@FedFRASER