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F e d e r a lR e s e r v eB a n k O F DALLAS R O B E R T L. W H I T M A N a s s i s ta n t v ice p re s id e n t MUgUSL J j 1 :7 0 0 DALLAS, TEXAS 7 5 2 2 2 To the Chief Operations Officer of each Financial Institution in the Eleventh District: RETURN LETTER DELIVERY ARRANGEMENTS On August 10, 1987, the Competitive Equality Banking Act of 1987 was signed into law. That law included the Expedited Funds Availability (EFA) Act, which becomes effective September 1, 1988. The Act establishes check hold rules, requires certain consumer disclosures, mandates that the Federal Reserve establish appropriate regulations to implement the Act, and suggests that the Federal Reserve consider changes in return check processing. One of the return check changes the Federal Reserve will be making is the return of unpaid checks directly to the institution that accepted the check for deposit, rather than to the previous endorser. Therefore, any institution that accepts checks for deposit from its customers will be eligi ble to receive a return check letter from the Federal Reserve. Accordingly, it will be necessary for your institution to decide whether or not you will be endorsing your deposited checks as the institution of first deposit and, if so, where your return checks should be delivered. Please complete the attached "Return Check Delivery Arrangement" form indicating whether receiving your returns by the present method is your delivery preference, or whether you prefer one of the other delivery options. To assist us in developing effective procedures for handling returned checks, it will also be appreciated if you will respond to the attached "Return Check Survey". Please complete the questionnaires and return them by August 12, 1988. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) Because the availability schedules mandated by the Act may make knowledge of checks returned to your institution more critical, we encourage you to carefully analyze your return check delivery requirements. We expect that, in most instances, no changes will be required to the present arrange ments. However, in order that any necessary transportation arrangements can be made and any legal agreements signed, please contact the individual listed below at the Federal Reserve Office serving your zone if a change is neces sary. Dallas Charles R. Hunter Local: El Paso Houston Eloise Guinn (Texas) Toll-Free: 1-800-592-1631 Local: (915) 544-4730 (New Mexico) Toll-Free: 1-800-351-1012 Louis R. Moore Local: San Antonio Herb Barbee Toll-Free: 1-800-392-416 (713) 652-1581 Toll-Free: 1-800-292-5810 Local: (512) 224-2141 Sincerely Robert L. Whitman Attachments Toll-Free: 1-800-442-7140 (214) 651-6160 FEDERAL RESERVE BANK OF DALLAS RETURN CHECK SURVEY If you currently send return checks or are planning on sending return checks to the Federal Reserve Bank of Dallas or one of its branch offices, please complete and return this survey to your local Federal Reserve Office by August 12, 1988. Please return this form promptly so that information and new deposit forms can be sent to you prior to September 1, 1988. 1. a) If you currently send return checks to the Federal Reserve, please indicate the daily average volume: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ b) If you plan to start sending return checks to the Federal Reserve, please indicate the approximate daily average volume:_ _ _ _ _ _ _ _ _ _ _ _ (Return Check Volume is the number of checks you dishonor each day for non-payment e.g., NSF.) 2. Please circle the type of option you will use: QUALIFIED RAW (A Qualified Return Check is a returned or dishonored check that has been prepared for high-speed sorting by either placing a strip along the bottom edge or placing the check in a carrier envelope, preferably translucent, and then encoding the routing/transit number of the bank of first deposit and dollar/cents amount on the strip or envelope, plus the number "2" in position 44. AR aw Return Check is a returned check that has not been prepared for processing through high-speed equipment.) 3. Please circle the work type(s) you expect to deposit with us. MIXED CITY RCPC COUNTRY OTHER FED (Please refer to the reverse side of this survey for routing transit numbers located in each zone by work type.) 4. For Qualified returns, please indicate what deadline(s) (time of day) you expect to meet for each work type? MIXED_ _ _ _ _ _ CITY_ _ _ _ _ _ RCPC_ _ _ _ _ _ COUNTRY_ _ _ _ _ _ OTHER FED_ _ _ _ _ _ (Please refer to the reverse side of this survey for Qualified Returns deadlines.) 5. For Raw returns, please indicate what deadline(s) (time of day) you expect to meet for each work type? MIXED_ _ _ _ _ _ CITY_ _ _ _ _ _ RCPC_ _ _ _ _ _ COUNTRY_ _ _ _ _ _ OTHER FED_ _ _ _ _ _ (Please refer to the reverse side of this survey for Raw Returns deadlines.) 6. Institution Name: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Nine Digit R / T : _ _ _ _ _ _ _ - _ _ _ _ _ _ _ _ _ - __ _ ADDITIONAL INFORMATION Routing Transit Numbers Zone City Dal las Houston San Antonio El Paso 1110,3110 1130,3130 1140,3140 1120,3120 RCPC Country 1111,1119,3111,3119 1131,3131 1149,3149 1122,1123, 1163 3122,3123, 3163 1113 ,3113 Return Checks Deadlines Qualified Returns Mixed Dallas 12:01 9:00 2:00 7:00 City Regular Fine Sort RCPC Regular Premium Fine Sort Country Regular Fine Sort 0th Fed Raw Returns Mixed City/RCPC/ 0th Fed Country Houston San Antonio El Paso a.m. a.m. p.m. p.m. 12:01 a.m. 9:00 a.m. 12:00 noon 8:00 p.m. 12:01 a.m. 12:01 a.m. 9:30 a.m. 9:15 a.m. 12:00 noon 12:00 noon 7:30 p.m. 9:00 a.m. 9:30 a.m. 9:00 a.m. 11:00 a.m. 9:30 a.m. 9:15 a.m. 10:30 a.m. 10:15 a.m. 12:01 a.m. 1:15 a.m. 4:00 a.m. Sun-Thurs/ 8:00 p.m. 9:30 p.m. 2:00 p.m. 7:00 p.m. 12:01 a.m. 1:15 a.m. 4:00 a.m. NA NA NA 12:00 noon 8:00 p.m. 2:00 a.m. NA 4:00 a.m. NA NA NA 12:00 noon 7:30 p.m. 12:01 a.m. 12:30 a.m. 2:30 a.m. NA NA NA 12:00 noon Dallas Houston San Antonio El Paso Sun-Thurs/ Sun-Thurs/ Sun-Thurs/ Sun-Thurs/ 8:00 p.m. 8:00 p.m. 8:00 p.m. 8:00 p.m. 12:01 a.m. 2:00 a.m. 12:01 a.m. 12:01 a.m. 12:01 a.m. NA NA NA Mailing Addresses for Return of Survey Forms Federal Reserve Bank of Dallas Station K Attn: Mr. Charles R. Hunter Dallas, Texas 75222 Federal Reserve Branch in Houston P.O. Box 2578 Attn: Mr. Louis R. Moore Houston, Texas 77252 Federal Reserve Branch in El Paso P.O. Box 100 Attn: Ms. Eloise Guinn El Paso, Texas 79999 Federal Reserve Branch in San Antoni P.O. Box 1471 Attn: Mr. Herb Barbee San Antonio, Texas 78295 FEDERAL RESERVE BANK/BRANCH 0 Dallas P El Paso Q Houston [] San Antonio RETURN CHECK DELIVERY ARRANGEMENTS Deliver my returns: (Check only one) to my institution/processor delivered where my forward items are currently to an institution/processor on current Federal Reserve routes Bank courier by first class mail to my institution We will be arranging, at our expense, transportation for the delivery of returns. (If you choose this option, we need a letter of author ization to release the returns to your agent.) I will not have return checks delivered to me because items deposited with me will be endorsed with the routing/transit number of my payable-through institution or correspondent institution. I will be contacting directly by courier. you to discuss receiving my return checks Please furnish the following information: Your Institution Return Check Delivery Point if different than directly to your institution Name Address City/State R/T Number ________________________ ________________ _________________ (Use Nine-Digit Number) _____ ___________ (If Applicable) Signature Title Please return to your local Federal Reserve Office by August 12, 1988.
