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F ederal reserve Ba n k DALLAS, TEXAS of Dallas 7S222 Circular No. 80-192 October 15, 1980 REVISED BULLETIN 5 TO THE CHIEF OPERATIONS OFFICER OF ALL BANKS IN THE ELEVENTH FEDERAL RESERVE DISTRICT: Enclosed is a revised Bulletin 5 containing the minimum standards and procedures to be followed for currency, coin, and food coupon transactions. Also enclosed is a chart of the uniform colors approved by the ABA to be used for currency and coin packaging materials and a currency guide to assist your institution in identifying counterfeit notes, fit/unfit notes, and the processing of mutilated currency. Many of the revisions to Bulletin 5 are already in effect, i.e., changes in confirmation of telephone orders, changes in units in which currency and coin can be ordered/deposited and the time by which orders must be placed, and changes in food coupon deposit requirements. Listed below are the major revisions to Bulletin 5 that are not yet effective: 1. The Federal Reserve Bank will not pay for unscheduled money shipments/receipts by mail for those banks that are normally serviced by armored carrier. 2. The handling charge for the preparation of shipments to nonmember banks has been increased to $ 2 per sack of currency/coin shipped by armored carrier and $3 per sack of currency/coin shipped by registered and/or insured mail. 3. The seal on the bag of currency or coin being deposited with the Federal Reserve Bank should bear the identity of the depositing bank. 4. Currency deposits to this Bank should contain only unfit and excess fit currency, and should be presorted by strap as to fit and unfit. 5. Money shipments to and from this Bank should be prepared and/or verified under dual control. Banks and others are encouraged to use the follo w in g incom ing W A TS num bers in c o n tactin g this Bank: 1-800-442-7140 (in tra s ta te ) and 1-800-527-9200 (in te rs ta te ). 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) - 6. 2 - Procedures for processing food coupons are included in this Bulletin. These procedures supersede Supplement C of Bulletin 8. The revised Bulletin 5 will be effective October 27, 1980. Please insert this Bulletin in your regulations binder, and the bulletin dated Novem ber 26,1975 should be destroyed. Your cooperation in compliance with the new procedures will be appreciated. If you have any questions concerning these changes, please contact Larry N. Hill at this Bank, Ext. 6212; Robert W. Schultz, El Paso Branch, (915) 544-4730, Ext. 201; C. O. Holt, Houston Branch, (713) 659-4433, Ext. 44; or Thomas C. Cole, San Antonio Branch, (512) 224-2141, Ext. 402. Sincerely yours, Robert H. Boykin First Vice President Enclosures * BULLETIN 5 I C urrency, Coin and Food Coupons t FED ER A L RESERVE B A N K O F D A LLA S This bulletin sets forth the general terms and conditions with respect to the currency, coin and food coupon services provided by this Bank and the procedures that must be followed by commercial banks in their currency, coin and food coupon transactions with us. BULLETIN 5 FEDERAL RESERVE BANK OF DALLAS TABLE OF CONTENTS Section 1 DEFINITIONS A N D REFERENCES , 1 .0 0 1.05 1 .1 0 Reference to Bulletin 1 Federal Reserve Act Department of the Treasury Circular No. 55 Section 2 GENERAL , 2 .0 0 2.05 2 .1 0 2.15 2.20 2.25 Agreement to the terms of this bulletin Unnecessary shipments to and from this Bank Receipt and distribution of currency and coin Transportation costs Money sacks Packaging material Section 3 SHIPMENTS F R O M THIS B A N K , 4.10 4.15 4.20 4.25 , Section 5 MISCELLANEOUS CURRE NCY A N D COIN 5.00 5.05 5.10 5.15 5.20 3.15 3.20 3.25 3.30 3.35 3.40 3.45 Ordering currency and coin Standard units Closing hours and transportation schedules Method of shipment Handling charges for nonmember banks Mail advices Postal limitations Responsibility of Federal Reserve Verification of shipments Entries to member bank reserve accounts Section 4 SHIPMENTS T O THIS B A N K , 4.00 4.05 Control of shipments Preparation of currency shipments Counterfeit or altered Foreign Gold coin and gold certificates Mutilated currency Mutilated coin Section 6 ,ASSUMPTI ON OF RISK OF LOSS O N M O N E Y SHIPMENTS 6.00 6.05 3.00 3.05 3.10 Method of shipping currency Preparation of coin shipments Method of shipping coin Entries to member bank reserve accounts 6.10 Member banks Payment of losses and subrogation of rights of recovery by member banks Nonmember banks Section 7 F O O D C O U P O N S , 7.00 7.05 7.10 7.15 7.20 General Preparation of shipments Entries to member bank reserve accounts Assumption of risks Miscellaneous BULLETIN 5 FEDERAL RESERVE BANK OF DALLAS Section 1, D E F I N I T I O N S A N D REFERENCES 1.00 Reference to Bulletin 1 A number of terms used in this bulletin are de fined in Bulletin 1 . 1.05 Federal Reserve Act Federal Reserve notes are issued in accordance with Section 16 of the Federal Reserve Act. 1.10 Department of the Treasury Circular No. 55 Regulations governing the exchange of coin and paper currency of the United States are set forth in this circular. Section 2, G E N E R A L tion i likely to be needed in the near future. The s interchange of currency and coin by local banks and the exercise of care in anticipating re quirements will reduce shipments tc and from this Bank. This Bank will assist banks in such coin and currency arrangements. 2.10 Receipt and distribution of currency and coin All United States currency and coin will be received for credit, redemption, exchange, or replacement, subject to the conditions stated herein and applicable Federal laws and regula tions. This Bank will supply a l available current l denominations of currency and coin, in accor dance with the rules of this Bank and regulations of the Treasury Department. The amount of new currency and coin shipped by us will be governed by the amount of f t currency and circulated coin i on hand. 2.00 Agreement to the terms of this bulletin 2.15 Transportation costs This bulletin sets forth minimum standards and procedures which should be followed by this Bank, (including i s Branches), and i s client in t t stitutions during currency, coin and food coupon transactions. Any bank shipping or causing the shipment of currency, coin or food coupons t , o from or for the account of this Bank, shall, by such action, be deemed to have agreed to the terms and conditions set forth in this bulletin. I i assumed t s that in most cases such standards will be accept able to a l parties. However, i circumstances l f arise which make implementation of these pro cedures impracticable, this Bank will review, upon written request, the adoption of alternative arrangements. 2.05 Unnecessary shipments to and from this Bank Because of the high cost of maintaining cash ser vices, the cooperation of banks i requested to s avoid unnecessary shipments. I i suggested that t s accumulations of currency or coin be obtained from other banks in the community i i i f t s available. Banks should anticipate their re quirements and, whenever possible, refrain from shipping to this Bank currency and coin f tfor fur i ther circulation i money of the same denomina f Insofar as possible, this Bank will schedule regular armored carrier service for the shipment of currency and coin to member banks. In the absence of armored carrier service, this Bank will ship currency by registered mail, and coin by either fourth class insured mail or registered mail, or such other means of transportation as may be approved by this Bank. Transportation charges on shipments of currency and coin to and from those member banks that have been approved for armored carrier service by this Bank, will be paid by this Bank. Those member banks that are normally serviced by ar mored carrier, but require an unscheduled ship ment of currency and/or coin to or from this Bank will pay the cost for such shipment. This Bank will pay the necessary postage and expressage inci dent to shipments of currency and/or coin be tween this Bank and member banks that are not provided armored carrier service by this Bank. This Bank will assume a l risks, except those l herein specifically excluded, incident to shipments of United States currency and coin only to and from member banks when such shipments are ordered from this Bank or are prepared and BULLETIN 5 FEDERAL RESERVE BANK OF DALLAS Nonmember banks may also order from this Bank. Nonmember banks availing themselves of this ser vice must request that a letter from the member correspondent bank be forwarded to this Bank authorizing their reserve account to be charged or credited for currency and coin transactions with the nonmember bank, including adjustments. A form for this purpose will be forwarded upon request. forwarded to this Bank in accordance with the provisions of this bulletin. This Bank will also make shipments of currency and coin to and receive shipments from nonmember banks at their own risk and expense. 2.20 Money sacks This Bank does not furnish money sacks to com mercial banks. Bags bearing the name of the Federal Reserve Bank, the United States Mint or another institution may be used for money shipments to this Bank. Surplus empty bags of this Bank or other commercial banks should be re turned to this Bank by armored carrier or fourth class mail. The sender will be reimbursed for the expense. Empty sacks bearing the name of a depository bank will be returned to that bank at the expense of this Bank. 3.05 Standard units Currency i strapped in standard packages and s coin i sacked in standard bags. Orders for cur s rency or coin must be for the following standard units or multiples thereof: Currency 2.25 Packaging material Denomination All currency and coin packaging materials should be uniform and conform to existing A B A color standards and Federal Reserve packaging re quirements. Copies of such standards are available form this Bank upon request. Section BANK 3, SHIPMENTS FROM $ 1,000 $ 2,000 $ 5,000 $ 10,000 $ 20,000 $ 5,000 $ 10,000 Ones Twos Fives Tens Twenties Fifties Hundreds THIS Coin 3.00 Ordering currency and coin Cents Nickels Dimes Quarters Halves Dollars-Eisenhower Dollars-Susan B. Anthony Orders for currency and/or coin should be sub mitted by telephone, two business days prior to the delivery date. As orders are received, the message i recorded. The individual submitting s the order i required to give his name, name of s bank, bank's A B A number, bank to be charged for the shipment, and denominations and amounts of currency and coin desired. The recorded message provides this Bank with the authority to charge the member bank’ reserve account. Orders for s money may also be entered by mail, using the ap propriate form which i available from this Bank. s Each order must bear an authorized signature. Orders by mail must be forwarded to the Cash Department and should not be included in letters pertaining to other transactions. 1--0 018 Dollar Amount $ $ $ $ $ $ $ 50 200 1,000 1,000 1,000 1,000 2,000 However, institutions which do not otherwise order currency during the month may, once each month, withdraw less than f l bundles (1,000 ul notes/bundle) of the $20 denomination ( n mini i m u m units of 100 notes each) and withdraw less than f l packages of $50 and $100 denominations ul ( n minimum units of 50 notes each). I should be i t noted that such transactions would require prior 2 BULLETIN 5 FEDERAL RESERVE BANK OF DALLAS approval of the Reserve Bank. 3.10 Closing hours and transportation schedules This Bank i closed on Saturdays, Sundays, and s official bank holidays as set forth in Supplement A to Bulletin 1 Bankers are asked to keep this in . mind as well as armored carrier and registered mail delivery schedules in anticipating their cash requirements. Orders for currency and coin must be received at this Bank no later than 2:00 p.m. two business days prior to the delivery date. Banks placing orders by mail should assure themselves that such orders will reach this Bank in time for dispatching the shipment for arrival on the expected date. are also requested, as a practical measure, to place orders for currency and coin so that they can be dispatched for arrival and delivery on a business day. Postal authorities have ruled i un t wise to permit the dispatch of money which would be held over at the receiving post office when the office i closed. s 3.35 Responsibility of Federal Reserve W h e n shipments are made by an armored carrier or by registered and/or insured mail, the respon sibility of this Bank terminates upon delivery of the money to the carrier on the Bank’ premises s or to an office of the United States Postal Service. 3.15 Method of shipment 3.40 Verification of shipments Shipments of currency and/or coin from this Bank to member banks will be made by armored car rier, fourth class insured mail, or registered mail, whichever method i appropriate under the cir s cumstances. Nonmember banks are responsible for making their own shipping arrangements. All currency and coin received from this Bank should be verified immediately upon receipt, by two or more responsible employees of the ad dressee bank in the presence and view of one another. Currency should be verified by piece count; whereas, coin may be verified by piece count or weight. Until verified, the currency and coin should be held under dual control. I a f discrepancy i found upon verification, this Bank s should be informed as soon as possible. I the ex f ception relates to currency, the package strap and a copy of the shipping advice should be returned to this Bank. I the exception relates to f coin, this Bank’ tag should be returned to this s Bank. I an exception i found in a bag of Mint f s coin, the Mint bag should be returned to this Bank. Where disbursement of currency or coin i s made without verification, this Bank will assume no l a i i y iblt. 3.20 Handling charges for nonmember banks Charges will be made for the preparation of shipments to nonmember banks as follows: ( ) $2 per package or sack of currency or coin 1 shipped by armored carrier, and ( ) $3 per package or sack of currency or coin 2 shipped by registered and/or insured mail. 3.25 Mail advices A mail advice will be sent to banks covering each shipment made by registered and/or insured mail and, i the shipment i not received promptly, the f s Head Office or Branch making the shipment should be notified immediately by telephone or telegraph. 3.30 Postal limitations The United States Postal Service has imposed cer tain limitations and restrictions on the shipment of money to certain towns. Banks affected have been apprised of these limitations and restric tions, and their cooperation in this respect i s solicited in placing orders with this Bank. Banks 3.45 Entries to member bank reserve accounts Charges will be made to the reserve accounts of member banks for the amounts of the currency and/or coin shipments made to them. Charges for the amount of currency and/or coin shipments to nonmember banks and any related shipping and preparation charges will be made to the reserve account of the member bank designated by the ordering bank. BULLETIN 5 FEDERAL RESERVE BANK OF DALLAS Section 4, S H I P M E N T S T O T H I S B A N K tions would require prior approval of the Reserve Bank. 4.00 Control of shipments Under no circumstances should rubber bands, pins, or clips be substituted for paper straps. Each unit must be securely tied so as to avoid collapse while in transit. W h e n shipments are made by mail, the weight of a l units allowed in l one sack and under one registry i determined by s postal regulations. Shipping costs can be reduced by placing a number of units in each sack; however, the sack should not exceed the weight allowed. All shipments will be prepared and verified by two or more responsible employees of the sender and the sealed package should remain under the control of the same two employees until delivered to and receipted for by the armored carrier, or until deposited and registered at the post office. 4.05 Preparation of currency shipments All currency included in each shipment must be straightened, sorted and packaged by denomina tion, face and top up, and be enclosed in standard A B A color coded paper currency straps, each strap containing 100 notes, with the name and location of the depositing bank, date of verifica tion, amount, and identification of the employee counting the package appearing on each strap. On the date of shipment, i the currency i sent by f s registered mail, a notice must be mailed, under separate cover, to the Cash Department of this Bank, giving the date, amount, and description of the shipment. All other copies of the advice, ex cluding the depositing bank’ copy, must be s enclosed with the shipment. I the currency i sent f s by armored carrier, the original copy of this notice must be handed to the armored carrier representative. With the exception of the depositing bank’ copy and copy provided the car s rier, a l other advice copies should be enclosed l with the shipment. A supply of forms for this pur pose for member and nonmember banks will be furnished upon request. Individual straps must be bound in bundles as follows: Denomination Number of Straps Ones Twos Fives Tens Twenties Fifties Hundreds 10 10 10 10 10 1— 10 1— 10 Dollar Amount $ 1,000 $ 2,000 $ 5,000 $ 10,000 $ 20,000 $ 5,000— 50,000 $10,000— 100,000 Torn notes should be carefully mended on the back with transparent cellophane tape in such a manner as to preserve the original design and visual identification of the face of the notes. Pins, clips, and other metallic substances, i not re f moved, could cause injury to the handlers and damage the machinery used in processing unfit currency. Failure to comply with the foregoing retards the process of handling, and may delay final verification. Currency that cannot be bundled as described in the table, because of insufficient quantities of notes, must be retained until enough currency of the appropriate denomination has been ac cumulated to complete standard strap and bundle units. Currency denominations cannot be mixed within a strap or bundle. The contents of a l shipments must be enclosed in l a cloth or canvas bag, and must be well secured and sealed in a manner acceptable to the post of f e express office, or armored carrier at the ic , place of mailing or dispatch. The seal on the bag should bear the identity of the depositing bank. However, institutions which do not otherwise deposit currency during the month may, once each month, deposit less than f l bundles of the ul $ 2 0 denomination ( n minimum units of 100 notes i each) and deposit less than f l packages of $50 ul and $100 denominations ( n minimum units of 50 i notes each). I should be noted that such transac t 1- - 0 018 Only unfit and excess f t currency should be i deposited with this Bank. Deposits should be presorted by strap as to f t and unfit currency. i 4 BULLETIN 5 FEDERAL RESERVE BANK OF DALLAS 4.10 Method of shipping currency Currency of a l denominations shipped by member l banks should be forwarded by armored carrier or registered mail. Nonmember banks should make their own shipping and insurance arrangements. Since this Bank assumes a l risks incident to the l transportation of shipments by member banks, the sending member bank should pay on registered mail shipments the postage at the f irst class rate and appropriate registry fee. 4.15 Preparation of coin shipments Coin must be shipped to this Bank loose m heavy canvas bags, each bag containing coin of only one denomination. A standard A B A color coded tag should be affixed to each bag showing the name of the shipping bank and denomination of coin. The bags of coin must be securely sealed and the seal should bear the identity of the shipping bank. Coin shipped to this Bank must be sacked as follows: Denomination Cents Nickels Dimes Quarters Halves Dollars-Eisenhower Dollars-Susan B. Anthony Dollar Amount $ $ $ $ $ $ $ 50 200 1,000 1,000 1,000 1,000 2,000 On the date of shipment, i the coin i sent by f s registered or insured mail, a notice must be mailed to the Cash Department of this Bank, giv ing the date, amount, and description of the ship ment. I the coin i sent by armored carrier, this f s notice must be handed to the armored carrier representative. A supply of forms for this purpose for member and nonmember banks will be fur nished upon request. 4.20 Method of shipping coin Coin of a l denominations shipped by member l banks should be forwarded by armored carrier i f this service i available. I a bank i not on an ar s f s mored route, shipments of coin should be made by registered and/or insured mail in accordance with existing postal regulations. 4.25 Entries to member bank reserve accounts The reserve account of a member bank will be credited for the amount of a shipment on the date of receipt, subject to detailed verification and subsequent adjustments for shortages, overages, and counterfeits. The reserve account of the designated member correspondent bank will be credited for such shipments received from a nonmember bank. These shipments will be re ceived subject to detailed verification, and any adjustments will be functioned through the cor respondent bank. Section 5, M I S C E L L A N E O U S C U R R E N C Y A N D COIN 5.00 Counterfeit or altered In accordance with Treasury Department regula tions, a l counterfeit or altered currency and coin l must be delivered to an agent of the United States Secret Service. Accordingly, al counterfeit cur l rency and coin received by this Bank will be delivered to a Secret Service Agent whose receipt, fully describing the counterfeit currency or coin, will be mailed to the depositor. 5.05 Foreign Foreign currency or coin will not be accepted for credit and, i received, will be returned to the f shipping bank. 5.10 Gold coin and gold certificates The executive order of the President of the United States requiring the surrender of a l gold coin and l gold certificates i s i l in force, with certain ex s tl ceptions. Any gold held or received on deposit should be sent to the Federal Reserve Bank for the account of the Treasurer of the United States. Gold coins having a recognized special value to collectors of rare or unusual coins, including a l l gold coins made prior to April 5 1933, and gold , certificates of the type issued before January 30, 1934, have been exempted from the surrender re quirement, however, and may be retained by the FEDERAL RESERVE BANK OF DALLAS BULLETIN 5 metal will not be accepted by the U.S. Assay Of f ice. Coins that are bent or twisted out of shape, but are readily and clearly identifiable as to gen uineness, and coins that have been reduced in weight by natural abrasion only, are not regarded as mutilated and will be accepted at their face amount. persons owning them. 5.15 Mutilated currency A mutilated b l will be received at i s face il t amount i clearly more than one half of the f original b l remains. Fragments that are not il clearly more than one half should be sent directly to the Department of the Treasury, Bureau of Government Financial Operations, Room 132— Treasury Annex No. 1 DCS/BEPA, Washington, , D.C. 20226, in accordance with Treasury Depart ment Circular No. 55, copies of which will be fur nished upon request. Such fragments will be ex changed at face value only i the Treasurer of the f United States i satisfied that the missing portions s have been totally destroyed, and his judgment i s based on such evidence of total destruction as he deems necessary and i f s inal. Section 6, A S S U M P T I O N O F R I S K O F LOSS O N M O N E Y SHIPMENTS 6.00 Subject to the terms of this bulletin, this Bank will assume a l risks incident to the transportation of l shipments of currency and/or coin t , from, or for o the account of this Bank made or caused or ordered to be made by a member bank when such shipments are transported by registered mail or by such other means of transportation as may be selected by this Bank from the time such shipments leave the office of the sending member bank until delivered at the office of the addressee bank. 5.20 Mutilated coin Mutilated coins will not be accepted at their face value at this Bank or by the Treasurer of the United States, but should be shipped to the United States Assay Office, 32 Old Slip Street, N e w York, N e w York 10005. Coins are considered mutilated when punched, clipped, plugged, fused together, or when so defaced as to be not readily and clear ly identifiable as to genuineness and denomina tion. This Bank will not assume any risk of loss in any of the following circumstances and any loss thereunder i agreed and understood to be s assumed by the member bank shipping or causing or ordering such shipment: ( ) any loss in excess of $2,000,000 on a l 1 l shipments by any one banking office to this Bank on any one day. ( ) Any loss resulting from hostile or warlike ac 2 tion by any military, navy, air force, or agent of domestic, foreign or revolutionary governments, powers, or forces, whether or not war has been formally declared and including defending against an actual or expected attack; or any loss caused by any weapon of war employing atomic fission or radioactive force whether in time of peace or war. ( ) Any loss resulting from any dishonest, 3 fraudulent, or criminal act of any employee of any bank, other than this Bank, shipping, causing, ordering, or receiving the shipment. ( ) Any loss to the extent recoverable from any in 4 surance, surety, or indemnity (including bank’ s Mutilated coins are not redeemable at their face value. They are redeemable at their bullion or metal value as established from time to time by the Director of the Mint. Mutilated coins should be forwarded at the sender’ risk and expense. s The U.S. Assay Office in N e w York will only ac cept shipments of mutilated coin in minimum l t o sizes as follows: Denomination Cents Nickels Dimes, Quarters, Halves, Eisenhower Dollars, Susan B. Anthony Dollars Weight 15 l . b 5l. b lib. 8 oz. Coins containing lead, solder, or substances which will render them unsuitable for coinage 1 0 -1 -8 0 Member banks 6 FEDERAL RESERVE BANK OF DALLAS blanket bond) whether primary or excess, carried by or maintained by any person other than this Bank. ( ) Any loss on any shipment by any bank other 5 than this Bank not made in conformity with the provisions of this bulletin. 6.05 Payment of losses and subrogation of rights of recovery by member banks The amount of any loss, the risk of which i s assumed under the terms of this bulletin, will be paid promptly by this Bank upon receiving from the bank sustaining the loss, in a form satisfac tory to this Bank, a written proof of loss, receipt, and any other necessary documents, including, but not limited t , an assignment of i s rights, t t e o t il and interest in the lost property. The bank receiv ing any such payment shall take a l necessary l measures in behalf and at the risk and expense of this Bank for the recovery, reissue, or replace ment of such property, including the institution of legal proceedings in i s own name, i deemed t f necessary by this Bank. 6.10 Nonmember banks Shipments of currency and/or coin are made to and received from nonmember banks at their risk and expense. Section 7, F O O D C O U P O N S 7.00 General This Bank will process food coupons as cash items in accordance with an agreement made by the Secretary of Agriculture, on behalf of the United States, and by the Federal Reserve Banks as depositories and fiscal agents of the United States pursuant to authorization of the Secretary of the Treasury. This Bank will accept food coupons from member banks for credit to their account and nonmember banks that have arranged with this Bank to send coupons for credit to the ac count of member banks. 7.05 Preparation of shipments Food coupons shipped to this Bank must be prepared as follows: BULLETIN 5 ( ) All coupons must be detached from booklet a covers. ( ) Each coupon must be cancelled by the indelible b marking “paid” or “cancelled”, along with the name of the bank or i s A B A transit number on the t face of the coupon. ( ) Food coupons must be sorted by denomination, c face and top up and enclosed in a paper strap. Under no circumstances will rubber bands, pins, or clips be accepted as substitutes for paper straps. ( ) The name and location of the shipping bank, d the amount, the date and identification of the employee who counted the coupons must be plain ly marked on each strap. ( ) Coupons must be deposited in standard straps e of 100 coupons of the same denomination. Odd (less than 100) coupons must be retained until standard straps can be assembled and then in cluded with a subsequent deposit. () After sorting and strapping as directed above, f the coupons should be assembled 10 straps to a bundle, and secured to make a compact bundle. Do not mix denominations in a bundle. I the f deposit of standard 10-strap bundles presents a hardship to the depositing bank, the Cash Depart ment of the Reserve Office serving your institu tion should be contacted so that other deposit ar rangements may be made. Only under unusual conditions and after approval has been granted by the Reserve Office serving your institution will a deposit of odd straps be accepted. ( ) W h e n submitting food coupons for credit, an g Advice of Food Stamp Coupon Shipment Form must accompany the coupons. A mailing label (available from this Bank) must be affixed to the outside of the envelope or container used for ship ping coupons to this Bank, along with the name and address of the depositing bank. Do not in clude food coupons with any other matter sent to this Bank. Food coupons must be deposited in sealed packages or containers strong enough to insure receipt at this Bank in a reasonably secure condition. ( ) Food coupons should be forwarded by the h means ordinarily used in forwarding checks and other items and should be directed to the atten tion of the Cash Department, Food Coupons Sec FEDERAL RESERVE BANK OF DALLAS BULLETIN 5 tion. Shipments will be at the risk of the Depart ment of Agriculture, only to the extent and under the conditions stated in 7 CFR 272.5 ( ) No provi c. sion i made by this Bank for reimbursing banks s for the cost of shipping food coupons. () In accordance with the regulations of the i United States Department of Agriculture (7CFR2) a portion of a food coupon consisting of less than three-fifths of a whole coupon shall not be ac cepted for redemption. ( ) The transmitting bank uses diligence and care a in making the shipment. ( ) The bank i unable to recover the loss from the b s carrier, and provide further, that, in the event of a partial loss, there i evidence that such a loss s was not a result of a package being tampered with or damaged in transit. The commercial bank shall f l a prompt written ie report of loss, destruction, or damage to the post office or other carrier. Depositing banks should retain customers’deposit slips and any other per tinent records which will assist in substantiating reimbursement claims against the Department of Agriculture for coupons lost in transit. 7.10Entries to member bank reserve accounts Prompt credit will be given for redeemed food coupons when received and bulk verified. I the f food coupons are received from a nonmember bank, the reserve account of the designated member correspondent bank will be credited. Such credit will be subject to subsequent verifica tion, and necessary adjustments for shortages, overages, or counterfeits. 7.20 Miscellaneous The Food Stamp Redemption Certificate, Form FNS-278, should be accumulated and forwarded to the following address: 7.15 Assumption of risks ADP Field Center Food Stamp Control Unit Food and Nutrition Service, U.S.D.A. 3930 West 65th Street Minneapolis, Minnesota 55435 The Food and Nutrition Service will be liable for losses of shipments of cancelled coupons while in transit to this Bank or correspondent banks pro vided that: 1-- 0 01 8 0 M UTILATED CURRENCY 1. M u t i la t e d n o te s c a n n o t b e r e d e e m e d b y t h e F R B . 2. F r a g m e n t s o f n o te s w h ic h : a) a r e n o t c l e a r ly m o r e t h a n o n e - h a lf o f th e o r ig i n a l n o te b) a r e in s u c h c o n d itio n t h a t th e v a lu e is q u e s tio n a b le c) s p e c ia l c a re is r e q u ir e d in h a n d lin g . ( E x a m p le : b u r n t c u r r e n c y ) s h o u ld b e f o r w a r d e d d ir e c t l y to : D e p a r t m e n t o f th e T r e a s u r y B u r e a u o f G o v e r n m e n t F in a n c ia l O p e r a t io n s R o o m 132 , T r e a s u r y A n n e x N o . 1, D C S / B E P A W a s h in g to n , D .C . 2 0 2 2 6 3. T h e T r e a s u r e r w i l l e x c h a n g e f r a g m e n t s o f n o te s a t fa c e v a lu e o n ly i f s a tis fie d t h a t t h e m is s in g p o r tio n s h a v e b e e n t o t a l l y d e s t r o y e d . N o p a r t ia l- v a lu e r e d e m p tio n s w i l l b e m a d e . 4. R e im b u r s e m e n t w i l l n o t b e m a d e f o r c u r r e n c y t o t a l l y d e s t r o y e d . M o r e th a n o n e - h a lf f u l l v a lu e a n d in c lu d e d in u n f i t c u r r e n c y L e s s th a n o n e - h a lf o r c le a r ly o n e - h a lf v a lu e w i l l b e d e t e r m in e d b y T re a s u ry D e p a rtm e n t COUNTERFEIT 1. S TU D Y g e n u in e c u rre n c y . Look c lo s e ly at th e w o r k m a n s h ip P O R T R A IT o f th e s e fe a tu r e s . C o u n te r fe it G e n u in e M a y m e rg e w it h b a c k g r o u n d . E y e s , e tc ., m a y be d u ll o r s m u d g y . B a c k g ro u n d m a y be d a rk , w it h so m e ir r e g u la r a n d b r o k e n l in e s . F a c e m a y s e e m u n n a t u r a lly w h ite . S ta n d s o u t s h a r p ly fr o m b a c k g ro u n d . E y e s a p p e a r l i f e l i k e . B a c k g r o u n d is a fin e s c re e n o f r e g u la r , u n b r o k e n l in e s . SEAL G e n u in e C o u n te r fe it S a w - to o th p o in ts a r o u n d r im a re e v e n a n d s h a rp . S a w - to o th p o in ts m a y be u n e v e n , b lu n t , o r b ro k e n . G e n u in e F ig u r e s a r e f i r m l y and e v e n ly p r in t e d , w e ll spaced. O n F e d e ra l R e s e rv e N o te s , p r e f ix le t t e r a lw a y s a g r e e s w i t h D i s t r i c t l e t t e r i n s e a l. S E R IA L NUMBERS* C o u n te r fe it B86733513 A M a y b e o u t o f lin e , p o o r ly spaced, p r in te d to o l ig h t o r to o d a r k . P r e f ix le t t e r m a y n o t a g re e w it h D i s t r i c t l e t t e r i n s e a l. F 93310058 A S C R O LL W O R K G e n u in e C o u n te r fe it F in e c r is s c r o s s in g l in e s a re s h a rp a n d u n b ro k e n . L in e s m a y b e b lu r r e d a n d a re o fte n b ro k e n . 2. PAPER used for genuine notes is very high quality. Small red and blue threads are in it, but may not be visible if the bill is badly worn or dirty. Counterfeit paper may feel different, or may be whiter than genuine paper. Threads may be imitated by fine red and blue lines made by a pen. 3. RUBBING a bill on a piece of paper is not a good test. Ink can be rubbed off genuine as well as counterfeit notes. CURRENCY GUIDE For Bank Tellers and Cash Custodians of Commercial Banks U N FIT CURRENCY IS: FIT CURRENCY IS: 1. Fairly clean so that its denom ination and ge nuineness can be determ ined w ith ou t difficulty. 1. Currency th at contains heavy creases which break th e fiber o f the paper and indicate th at disintegration has begun. 2. Must contain a sufficient am o u n t o f life or sizing to perm it its being handled w ith ease. 2. So badly soiled as to be offensive even if it has proper life or sizing. 3. When held by one end in one hand and pressed into a slightly concave shape lengthwise, should sustain itself substantially on a line w ith the hand. 3. Currency th at presents a limp or rag-like ap pearance. NOTE: Mere creasing or wrinkling that has n o t bro ken nor seriously weakened the note o r so-called “dog ears” or b en t corners do n o t render notes unfit. SEE REVERSE FOR MUTILATED & COUNTERFEIT GUIDE Prepared by the Federal Reserve Bank o Da s f lla CURRENCY STRAPS C LO S F R PA T U R D N M A IO S O R O R IC LA E O IN T N O C R E C A D P C A E AM U TS— F URNY N AKGD O N PRINTING: I print n the basic color n i g, should encompass more than 50% of the entire viewing surface of the strap after wrapping. •Specific colors and their identifying numbers have been selected from the nationally accepted Pantone Matching System (PMS) used in the printing and graphics industries. Color reproduc tion is projected to be on white paper with more than 50% ink coverage on viewing surface Paper manufactured in colors to match the PMS standards listed is also considered as meeting the requirements. AMERICAN BANKERS ( S b ASSOCIATION PMS NUMBER Blue 292 ONES Green SIZE: Minimum width, IW'or 3 2 m m COLOR 347 TWOS 200 Red 200 FIVES 500 Yellow 116 TENS 100 ,0 Voe ilt 528 TWENTIES 2,000 Brown 4Kj FI T S F IE 5,006 Mustard 117 ONEHUNDREDS 10,000 Bak lc Print Dnly these words in black ink on white paper: DENOMI PKGD. NATION AMOUNT 100 $ $S N IG «Nt ITH P C O D N M A N W S A ET E O IN TIO E T R AM U T NE ON MUTILATED CURRENCY No Amount Specified C opyright © Am erican Bankers Association, 1979 C O IN W RAPPERS C LO S F RPA TIC LA D N M A N O R O R U R E O IN TIO S O C IN A D P C A E AM U TS— F O S N AKGD O N DENOMI PKGD. NATION AMOUNT COLOR Effective July 1,1979, these color standards have been established to facilitate instant identification of U.S. currency and coin in boxes, in straps, and in wrappers. The stand ards are an integral part of the Federal Reserve System's operations and are contained in the Fed's Operating Manual. They have been established to make it easier to identify coins and currency in bulk. 200 PENNIES Blue 292 NICKLES 2.00 347 DIMES 5.00 Orange I printing, the basic color n should encompass more than 50% of the entire viewing surface after wrapping. Red Green PRINTING: PMS NUMBER 164 QUARTERS 1 .00 0 Bf uf 465 HALVES 1.0 00 Gray 402 DOLLARS 25.00 $ .0 5 C O L O R G U ID E F O R C O IN A N D CURRENCY B U L K W R A P P IN G ID E N T IF IC A T IO N ’ Specific colors and their identifying numbers have been selected from the nationally accepted Pantone Matching System (PMS) used in the printing and grapnlcs industries. Color reproduction is projected to be on white paper with more than 50% ink coverage on viewing surface. Paper manufactured in colois to match the PMS standards listed is also considered as meeting Ihft requirements. Effective July 1, 1979, these color standards have been established to facilitate instant identification of U.S. currency and coin in boxes, in straps, and in wrappers. The standards are an integral part of the Federal Reserve System's operations and are contained in the Fed's Operating Manual. They have been established to make it easier to identify coins and currency in Dulk. AMERICAN BANKERS ASSOCIATION I 12 0 C onnecticut Avenue, N W. W ashington. D.C. 2 0 0 3 6 COLOR CURRENCY PACKAGED AMOUNT COIN PMS NUMBER PACKAGED AMOUNT $ 1 $100 $50 $5,000 TWOS $2 $200 292 Brown 463 Bf uf 465 HALF 50c $1 . 0 00 Gray 430 DOLLARS $ 1 $25.00 Green 347 DIMES 10« $ 5.00 Mustard 117 Orange 164 QUARTERS 25c $1 . 0 00 Red 200 PENNIES $ Voe ilt 528 TWENTIES $20 $2,000 Yellow 116 TENS $1 0 0 ,0 B lack 5 c ONES FIFTIES NICKLES $2 0 .0 B lue ONE HUNDREDS $100 I Copyright © Am erican Bankers Association, 1979 1c .0 5 $10,000 FIVES $500 I $5 $10
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