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Federal

reserve

Ba n k

OF DALLAS

Dallas, Texas, May 28, 1953

To the Member and Nonmember Clearing Banks
of the Eleventh Federal Reserve District:
Effective June 1, 1958, all Federal Reserve banks are amending their check collection circulars
or bulletins to prescribe the terms and conditions under which they will handle and effect settlement
for unpaid cash items that are returned late by drawee banks to the Reserve banks. The instructions
to collecting and remitting banks are amended to provide that each bank returning cash items for
credit or refund represents that the items are returned within the allowable time, and that any credit
or refund given by the Reserve bank for any item returned late may be recovered if the late return
is not acquiesced in by the bank that originally deposited the item with the Reserve bank. The
amendments also inform sending banks that the Reserve banks do not undertake to examine all
returned items to confirm that they are returned within the permissible time.
These provisions will be found in this bank’s Bulletin No. 8, revised, effective June 1, 1953, and
are identified as paragraphs 24 and 27. Other changes that are being made in the bulletin include
the addition of a new paragraph (No. 25) setting out that a complete description of unpaid items
returned to us should be retained by collecting and remitting banks and the addition of a statement
(at the end of paragraph 26) relative to the return of items in conformity with the provisions of
paragraph (4) of Section 5 of Regulation J.
This bank’s Bulletin No. 8A, a new bulletin which is effective June 1, 1953, contains time sched­
ules and other information regarding the availability of credit for items deposited with us or sent
direct to other Federal Reserve banks. It also contains information relative to the preparation of
cash letters and general provisions relating to the time of presentment and the computation of
availability of cash items. One important change in the time schedule for items deposited with us
is the closing hours for the receipt of checks drawn on the Treasurer of the United States and
United States postal money orders. These items will be accepted up to 1:00 p.m. on week days
and 12:00 noon on Saturdays.
The revised Bulletin No. 8 and the new Bulletin No. 8A supersede this bank’s Bulletin No. 8,
dated July 1, 1951. One copy of each bulletin is enclosed for filing in your ring binder containing
current bulletins of this bank and the regulations of the Board of Governors of the Federal Reserve
System. Please acknowledge receipt on the enclosed postal card.
Yours very truly,
R. R. GILBERT
President

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

FEDERAL RESERVE BANK
OF DALLAS

BULLETIN NO. 8
JUNE 1, 1953
(Superseding Bulletin No. 8,
dated July 1, 1951)

COLLECTION OF CASH ITEMS
T o the Member and Nonmember Clearing Banks
of the Eleventh Federal Reserve District:
Regulation J o f the Board o f Governors of the Federal Reserve System,
this bulletin and our Bulletin No. 8 A prescribe the terms and conditions upon
which we will receive and handle cash items for collection. Section 6 of Regu­
lation J provides that each Federal Reserve bank may promulgate rules not
inconsistent with the terms of the law or of Regulation J, governing the details
of its operations in clearing and collecting checks and other cash items, and
that such rules shall be binding upon any member or nonmember clearing bank
which sends any check or other cash item to such Federal Reserve bank for
collection or to any other Federal Reserve bank for the account o f such Fed­
eral Reserve bank for collection. This bulletin and our Bulletin No. 8A are
issued pursuant to this provision o f Regulation J.
Unless otherwise stated, all references to the Federal Reserve Bank o f
Dallas will include the head office and all o f its branches.
ITEMS WHICH WILL BE ACCEPTED AS CASH ITEMS

1. The following will be accepted for collection as cash items:
(1 ) Checks drawn on banks or banking institutions (including
private bankers) located in any Federal Reserve district which are
collectible at par in funds acceptable to the collecting Federal R e­
serve bank. The “ Federal Reserve Par List,” indicating the banks
upon which checks will be received by Federal Reserve banks for
collection and credit, is furnished from time to time and a supple­
ment is furnished each month showing changes subsequent to the
last complete list. This list is subject to change without notice and
the right is reserved to return without presentment any items drawn
on banks which may have withdrawn or may have been removed
from the list or may have been reported closed.
(2 ) Government checks drawn on the Treasurer o f the United
States.
(3 ) United States postal money orders.
(4 ) Such other items, collectible at par in funds acceptable to
the Federal Reserve bank o f the district in which such items are
payable, as we may be willing to accept as cash items. W hen any such
item is accepted as a cash item, we will give credit therefor in accord­
ance with the provisions o f this bulletin and our Bulletin No. 8 A ;
and with respect to such item the “ T E R M S O F C O L L E C T IO N ”
of Section 3 of Regulation G o f the Board o f Governors of the
Federal Reserve System, as set forth in our current bulletin relating
to the collection of noncash items, will apply as well as the relevant

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BULLETIN No. 8

terms and conditions o f this bulletin including paragraphs (2 ) and
(4 ) o f Section 5 of Regulation J as set forth in this bulletin.
2. Items with passbook, certificate or any other document attached, and
items with special instructions or requiring special handling should be sent to us
as noncash collections, subject to the terms of our current bulletin relating to
the collection o f noncash items. W e reserve the right to return or to handle as
a noncash collection any item which has been previously dishonored.
3. Checks drawn on or payable at a nonmember bank which is not included
in the currently effective Federal Reserve Par List, referred to above, will not
be received either as cash items or as noncash items by us or by any other Fed­
eral Reserve bank.
4. In the interests o f good banking, the indirect routing of cash items is
discouraged, and member and nonmember clearing banks should not send to us
or to other Federal Reserve banks for our account, any items payable in other
Federal Reserve districts, which bear the endorsements o f banks located in
other Federal Reserve districts, in cases where it is evident that such items have
been routed indirectly.
TERMS AND CONDITIONS OF COLLECTION

5. Every bank sending cash items to us or to another Federal Reserve bank
direct for our account, by such act, will be understood to have agreed to the
terms and conditions of this bulletin, of our Bulletin No. 8A, and of Regulation
J in effect at the time such cash items are received by the Federal Reserve bank.
6. Cash items payable in other Federal Reserve districts and forwarded for
collection to the Federal Reserve banks o f such other districts either by us or
by our member and nonmember clearing banks for our account will be handled
by such other Federal Reserve banks subject to the terms and conditions of
Regulation J and of the respective bulletins and time schedules of such other
Federal Reserve banks, and to the rules of law applicable to such banks; but
we will give credit for such items in accordance with our Bulletin No. 8A.
7. Section 5 of Regulation J prescribes terms and conditions under which
all Federal Reserve banks will handle checks as cash items for member and
nonmember clearing banks. Such terms and conditions, and the terms and con­
ditions of this bulletin and of our Bulletin No. 8A, will apply to the handling
o f all items which we accept for collection as cash items and to the handling
o f all bank drafts and other forms of payment or remittance which we receive
for such items. The terms and conditions prescribed by Section 5 of Regula­
tion J are as follows :
“ The Board of Governors of the Federal Reserve System hereby
authorizes the Federal Reserve banks to handle such checks subject to
the following terms and conditions; and each member and nonmember
clearing bank which sends checks to any Federal Reserve bank for de­
posit or collection shall by such action be deemed (a ) to authorize the
Federal Reserve banks to handle such checks subject to the following
terms and conditions; (b ) to warrant its own authority to give the Fed­
eral Reserve banks such authority; ( c ) to agree to indemnify any Fed­
eral Reserve bank for any loss or expense sustained (including but not
limited to attorneys’ fees and expenses of litigation) resulting from the

— 3—

B U L L E T IN No. 8

failure of such sending- bank to have such authority, or resulting from
such Federal Reserve bank’s guaranty o f prior endorsements, or result­
ing from any action taken by the Federal Reserve bank within the scope
of its authority for the purpose of collecting such checks; and (d ) to
guarantee all prior endorsements on such checks whether or not a spe­
cific guaranty is incorporated in an endorsement of the sending bank.
“ (1 ) A Federal Reserve bank will act only as agent of the bank
from which it receives such checks and will assume no liability except
for its own negligence and its guaranty of prior endorsements.
“ (2 ) A Federal Reserve bank may present such checks for pay­
ment or send such checks for collection direct to the bank on which they
are drawn or at which they are payable, or in its discretion may for­
ward them to another agent with authority to present them for payment
or send them for collection direct to the bank on which they are drawn
or at which they are payable. A Federal Reserve bank, or any agent to
which such checks are forwarded by a Federal Reserve bank, may pre­
sent such checks pursuant to any special collection agreement not incon­
sistent with the terms o f this regulation or may present them through a
clearing house subject to the rules and practices thereof.
“ (3 ) A Federal Reserve bank may, in its discretion and at its op­
tion, either directly or through or from an agent, accept in payment of
or in remittance for such checks, cash, bank drafts, transfers of funds
or bank credits, or other forms of payment or remittance, acceptable
to the collecting Federal Reserve bank. The Federal Reserve bank shall
not be liable for the failure of the drawee bank or any agent to pay or
remit for such checks, nor for any loss resulting from the acceptance
from the drawee bank or any collecting agent, in lieu of cash, o f any
other form o f payment or remittance authorized herein, nor for the
nonpayment of, or failure to realize upon, any bank draft or other
medium of payment or remittance which may be accepted from the
drawee bank or any collecting agent.
“ (4 ) A ny check which a Federal Reserve bank or an agent thereof
presents to the drawee bank for payment or sends to the drawee bank
for collection, and for which remittance or settlement is made by the
drawee bank on the day on which it receives3 such check, may be re­
turned for credit or refund at any time prior to midnight of the drawee’s
next business day following such day of receipt or prior to the time pro­
vided by applicable clearing house rule or special collection agreement,
whichever is earlier, except that this paragraph shall not apply to checks
presented over the counter.
“ (5 ) Checks received by a Federal Reserve bank which are payable
in its own district will ordinarily be forwarded or presented direct to
the banks on which they are drawn, and such banks will be required to
remit or pay therefor at par in such one or more o f the forms of pay­
ment or remittance authorized under paragraph (3 ) hereof as may be
acceptable to the Federal Reserve bank.
“ 3A check received by a drawee bank on a day other than its business day, or received
on a business day after its regular business hours or during afternoon or evening periods
when it has reopened (or remained open) for limited functions, shall be deemed to have
been received on its next succeeding business day.”

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BULLETIN No. 8

“ (6 ) Checks received by a Federal Reserve bank payable in other
districts will ordinarily be forwarded for collection to the Federal R e­
serve bank of the district in which such checks are payable; provided,
however, that, where arrangements can be made satisfactory to the col­
lecting bank or agent and to the Federal Reserve bank of the district
in which such checks are payable, any such checks may be forwarded
for collection direct to the bank on which they are drawn or at which
they are payable, or may be forwarded for collection to another agent
with authority to present them for payment direct to the bank on which
they are drawn or at which they are payable. All such checks shall be
handled subject to all the terms and conditions of this regulation.
“ (7 ) W ith respect to any check sent direct by a member or non­
member clearing bank in one district to a Federal Reserve bank in an­
other district, the relationships and the rights and liabilities existing be­
tween the member or nonmember clearing bank, the Federal Reserve
bank o f its district and the Federal Reserve bank to which the check
is sent will be the same, and the relevant provisions o f this regulation
will apply, as though the member or nonmember clearing bank had sent
such check to the Federal Reserve bank o f its district with its endorse­
ment and guaranty o f prior endorsements and such Federal Reserve
bank had sent the check to the other Federal Reserve bank with its
endorsement and guaranty of prior endorsements.
“ (8 ) Bank drafts received by a Federal Reserve bank in payment
o f or in remittance for checks handled under the terms o f this regula­
tion shall likewise be handled for collection subject to all the terms and
conditions of this regulation.
“ (9 ) The amount o f any check for which payment in actually and
finally collected funds is not received shall be charged back to the for­
warding bank, regardless of whether or not the check itself can be re­
turned. In such event, neither the owner or holder of any such check,
nor the bank which sent such check to the Federal Reserve bank for
collection shall have any right of recourse upon, interest in, or right o f
payment from, any reserve balance, clearing account, deposit account,
or other funds o f the drawee bank or o f any bank to which such checks
have been sent for collection, in the possession o f the Federal Reserve
bank. N o draft, authorization to charge, or other order, upon any re­
serve balance, clearing account, deposit account, or other funds o f a
paying, remitting, or collecting bank in the possession o f a Federal R e­
serve bank, issued for the purpose o f settling items handled under the
terms o f this regulation will be paid, acted upon, or honored after re­
ceipt by such Federal Reserve bank o f notice of suspension or closing
o f such paying, remitting, or collecting bank.”
GOVERNMENT CHECKS

8.
United States Government checks will be handled in accordance with,
and subject to the provisions of, Treasury Department Circular No. 176 in
effect at the time such items are received by us ; and with respect to matters not
covered by such circular, the provisions o f Regulation J, this bulletin and our
Bulletin No. 8A shall be deemed applicable to all Government checks. Credit

— 5—

BULLETIN No. 8

for Government checks will be given in accordance with our Bulletin No. 8A
and will be subject in all cases to examination and payment by or on behalf of
the Treasurer o f the United States.
9. Section 25 o f Treasury Department Circular No. 176 (Title 31, Code
o f Federal Regulations, Chapter II, Subchapter A , Section 202.25) relates to
the handling and payment of checks drawn on the Treasurer of the United
States received at Federal Reserve banks. Copies of this section will be fur­
nished upon request.
UNITED STATES POSTAL MONEY ORDERS

10. United States postal money orders will be handled in accordance with
an agreement made by the Postmaster General, in behalf of the United States,
and the Federal Reserve banks as depositaries and fiscal agents o f the United
States pursuant to authorization o f the Secretary of the Treasury ; and with
respect to matters not covered by such agreement, the provisions o f Regulation
J, this bulletin and our Bulletin No. 8A shall be deemed applicable to all postal
money orders. Immediate credit will be given to member and nonmember clear­
ing banks for postal money orders as provided in our Bulletin No. 8A and
simultaneously with such credit we will debit the amount of such money orders
against the general account of the Treasurer of the United States under such
symbol numbers as majf be assigned by the Treasurer o f the United States.
Said agreement further provides in effect that no claim for refund or otherwise
with respect to any money order debited against the general account o f the
Treasurer o f the United States and delivered to the representative of the Post
Office Department as provided in said agreement (other than a claim based on
the negligence of a Federal Reserve bank) will be made against or through any
Federal Reserve bank; that if the Post Office Department makes any such
claim with respect to any such money order, such money order will not be re­
turned or sent to a Federal Reserve bank, but the Post Office Department will
deal directly with the bank or the party against which such claim is m ade; and
that the Federal Reserve banks will assist the Post Office Department in mak­
ing such claim, including making their records and any relevant evidence in
their possession available to the Post Office Department.
PREPARATION OF CASH LETTERS BY SENDING BANKS

11.
Instructions relative to sorting and listing of items are set forth in our
Bulletin No. 8A.
ENDORSEMENTS

12.
All cash items sent to us, or to another Federal Reserve bank direct for
our account, should be endorsed without restriction to the order of the Federal
Reserve bank to which sent, or endorsed to the order of any bank, banker or
trust company, or with some similar endorsement. Cash items will be accepted
by us, and by other Federal Reserve banks, only upon the understanding and
condition that all prior endorsements are guaranteed by the sending bank.
There should be incorporated in the endorsement of the sending bank the
phrase, “ All prior endorsements guaranteed.” The act of sending or delivering
a cash item to us or to another Federal Reserve bank will, however, be deemed
and understood to constitute a guaranty of all prior endorsements on such
item, whether or not an express guaranty is incorporated in the sending bank’s
endorsement. The endorsement of the sending bank should be dated and should
show the American Bankers Association transit number o f the sending bank
in prominent type on both sides.

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BULLETIN No. 8

UNIFORM INSTRUCTIONS REGARDING PROTEST AND WIRE
ADVICE OF NONPAYMENT

13. Federal Reserve banks will receive, handle and forward cash items
subject to the following uniform instructions regarding protest and wire advice
o f nonpayment except that United States Government checks will not be pro­
tested :
(1 ) D O N O T P R O T E S T items o f $500 or less.
(2 ) P R O T E S T dishonored items of $500.01 or over, except those
bearing on their face the A .B .A . no protest symbol of a Federal
Reserve bank or o f a preceding bank endorser.
(3 ) D O N O T W IR E A D V IC E of nonpayment o f items o f less than
$ ,
.

1 000

(4 ) W IR E A D V IC E of nonpayment o f all items o f $1,000 or over,
except those not paid because o f missing, irregular or unsatisfac­
tory endorsement and those bearing on their face “ D O N O T
W IR E N O N P A Y M E N T ” with the A .B .A . transit number o f a
Federal Reserve bank or of a preceding bank endorser. Include in
the wire advice of nonpayment the A .B .A . transit numbers or the
names of the two endorsers immediately preceding the Federal
Reserve bank.
14. All Federal Reserve banks will receive, handle and forward cash items
only in accordance with these uniform instructions, and any contrary or spe­
cial instructions noted on cash letters or otherwise transmitted with cash items
will be disregarded.
15. I f a bank should desire to have any cash item handled by us or by any
other Federal Reserve bank under any instructions differing from the uniform
instructions given above, it will be necessary for such bank to forward such
item as an individual noncash item, with the instructions noted in the letter of
transmittal, for collection and credit when paid, in accordance with the terms
o f our current bulletin relating to the collection o f noncash items.
TELEGRAPHIC COSTS

16. Telegrams pertaining to payment, nonpayment or tracing o f cash items,
or in connection with receiving or transmitting pertinent information or in­
structions, will be sent, to the extent practicable, over the Federal Reserve leased
wires without cost to member and nonmember clearing banks. The cost o f all
such telegrams sent over commercial wires will be charged to the banks from
which the items were received, and commercial wire telegrams to such banks
will be sent “ collect.”
TIME SCHEDULES AND AVAILABILITY OF CREDITS

17. W e publish and furnish to member and nonmember clearing banks
time schedules showing when cash items will become available for reserve and
withdrawal or other use by the sending banks after receipt by us. For all items
accepted as cash items the sending bank will be given immediate credit or de­
ferred credit, in accordance with such time schedules and as provided in R eg­
ulation J. Credit for letters containing items unassorted as to availability may
be deferred for the longest period o f availability prescribed by our current
time schedules with respect to any item enclosed, not to exceed two busi­
ness days.

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B U L L E T IN No. 8

18. Time schedules do not in many instances show the actual time required
for collection, and advices received from us showing the availability o f credit
for cash items cannot be considered as advices of actual payment on the dates
o f availability. Credit will in all instances be subject to receipt of payment by
us in actually and finally collected funds.
19. Immediate Credit. For all such cash items as are accepted for imme­
diate credit in accordance with our current time schedules, immediate credit
will be given upon our books at full face value in the reserve account or clear­
ing account upon the day o f receipt, and the proceeds will at once be counted as
reserve (in the case of a member bank) and become available for withdrawal
or other use by the sending bank; provided, however, that we may in our
discretion refuse at any time to permit the withdrawal or other use of credit
given for any item for which we have not yet received payment in actually and
finally collected funds.
20. Deferred Credit. For all such cash items as are accepted for deferred
credit in accordance with our current time schedules, deferred credit will be
entered upon our books at full face value, but the proceeds will not be counted
as reserve nor become available for withdrawal or other use by the sending
bank until the expiration o f the time specified in our time schedules, at which
time credit will be transferred from the deferred account to the reserve ac­
count or clearing account and will then be counted as reserve (in the case of
a member bank) and become available for withdrawal or other use by the
sending bank; provided, however, that we may in our discretion refuse at any
time to permit the withdrawal or other use of credit given for any item for
which we have not yet received payment in actually and finally collected funds.
AIR TRANSPORTATION

21. In sending cash items for collection, this bank uses available air trans­
portation facilties wherever such facilities offer a reasonable expectation of
earlier presentment o f cash items or in those cases where earlier delivery facili­
tates the work o f the drawee bank or the receiving Federal Reserve bank or
branch.
INSTRUCTIONS TO COLLECTING AND REMITTING BANKS

22. Remittances for our cash letters should be made on the day of receipt,
at par in immediately available or acceptable funds.
23. W e will receive for credit or refund cash items which are returned to
us by collecting and remitting banks in accordance with paragraph (4 ) o f Sec­
tion 5 of Regulation J, set forth in this bulletin under the heading “ Terms and
Conditions of Collection.” Such provision o f Regulation J does not mean,
however, that any bank is required to follow the practice o f delaying the re­
turn o f unpaid cash item s; and any collecting or remitting bank may continue
to return unpaid cash items with its remittance on the day o f receipt. Each
cash item returned unpaid should bear a notation clearly indicating the reason
therefor.
24. Each bank returning cash items for credit or refund represents that
such items are returned within the time allowed by paragraph (4 ) of Section
5 o f Regulation J or the applicable law; and any refund, deduction or credit
made, allowed or given by this bank for any item returned after the time
allowed by Regulation J or the applicable law may be recovered or revoked if
such late return is not acquiesced in by our sending bank. A bank may, how-

—8—

B U L L E T IN No. 8

ever, return to us without entry a cash item which it has failed to return in
time, with a request that we ask our sending bank to make refund th erefor; in
which event we shall make refund to the returning bank and charge our
sending bank only if the latter specifically authorizes us to do so.
25. Collecting and remitting banks should retain a description o f each
item returned unpaid, which should include the amount, the name o f the drawer,
the name of the payee, the date of our endorsement, and the name or A .B .A .
transit number of our endorser. Failure to retain such information might pre­
vent establishing identity and effecting recovery in the event unpaid checks
are lost while being returned to us.
26. I f unpaid items are returned on the day o f receipt, they should be de­
ducted from and returned with the remittance for the cash letter in which the
items were received. Those items for which remittance has been made on the
day of receipt and on which payment is revoked in accordance with paragraph
(4 ) o f Section 5 of Regulation J may be returned the following business day
and may be deducted from the remittance for the cash letter received on such
following business d a y ; however, if no cash letter is received on such following
business day, the items should not be held but should be returned to us sepa­
rately for credit or refund. The transmittal letter returning such unpaid items
should be clearly marked R E T U R N IT E M L E T T E R and should not include
other items.
INFORMATION TO SENDING BANKS REGARDING RETURN ITEMS

27. The attention of sending banks is called to our “ Instructions to collect­
ing and remitting banks” to the effect that, (a ) each bank returning cash items
for credit or refund represents that such items are returned within the time
allowed by paragraph (4 ) o f Section 5 o f Regulation J or the applicable la w ;
and (b ) that any refund, deduction or credit made, allowed or given by this
bank for any item returned after the time allowed by Regulation J or the
applicable law may be recovered or revoked if such late return is not acquiesced
in by our sending bank. W e do not undertake to examine all returned cash items
to confirm that such items are returned within the time permitted under the
provisions of paragraph (4 ) of Section 5 of Regulation J or the applicable law.
DIRECT SENDING OF CASH ITEMS TO OTHER FEDERAL RESERVE BANKS

28. Member and nonmember clearing banks, having a substantial volume
o f cash items (exclusive of Government checks and postal money orders) pay­
able in other Federal Reserve districts which they wish to collect through
the Federal Reserve banks, are urged to apply to us for permission to send
such items direct to the Federal Reserve banks and branches o f the districts
in which such items are payable, for collection and credit to us. Appropriate
instructions will be sent to the banks to which such permission is granted.
29. W hen in our judgment a member or nonmember clearing bank has
a sufficient volume of cash items payable in other Federal Reserve districts to
justify direct routing, we reserve the right to decline to accept such items for
collection unless they are routed direct to the Federal Reserve banks and
branches o f such other Federal Reserve districts.

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BULLETIN No. 8

30. Each member bank which sends cash items direct to other Federal
Reserve banks and branches, or to an office o f this bank other than the one at
which its reserve account is carried, will be reimbursed by us for postage or
other transportation costs, not including insurance, on all such direct sent
items. Transportation costs on cash items delivered to us by member banks
for consolidated shipment to Federal Reserve banks and branches will be
paid by us.
31. Claims for reimbursement o f transportation costs on direct sendings
should be filed with us by the tenth day o f the month following the month in
which such costs were incurred, using Form Tr. 115, a supply o f which will
be furnished upon request.
32. Each direct sending member bank is requested to give constant atten­
tion to methods o f shipment and to change a method in any case in which ship­
ment can be made at a lower cost without loss o f time in presentment. In cases
in which we pay the transportation costs, we reserve the right to require a
change in method o f shipment in any situation where, by the use o f another
method, presentment can consistently be made more promptly, or at a lower
cost and without loss o f time.
CHECK ROUTING SYMBOL

33. T o facilitate the sorting and routing o f checks and other cash items
by all banks, and thereby promote earlier presentment, the appropriate check
routing symbol in fractional form should be clearly imprinted in the upper
right-hand corner o f all checks or other cash items drawn payable by, at, or
through all par remitting banks. It is preferable that the symbol be printed in
gothic type, the face of which measures at least 8 points vertically or 1 /9 o f
an inch from the top to the bottom o f the individual characters.

RIGHT TO AMEND

34.
The right is reserved to withdraw, add to, or amend, at any time, any
o f the provisions o f this bulletin.
Respectfully,
R. R. G IL B E R T

President

FEDERAL RESERVE BANK
OF DALLAS

BULLETIN NO. 8A
JUNE 1, 1953
(Superseding Time Schedules
dated July 1, 1951)

TIME SCHEDULES AND OTHER INFORMATION
RELATIVE TO THE COLLECTION OF CASH ITEMS

T o the Member and Nonmember Clearing Banks
o f the Eleventh Federal Reserve D istrict:
1. Unless otherwise stated, all references in this bulletin to the Federal
Reserve Bank o f Dallas will include the head office and all of its branches.
2. Subject to the terms and conditions o f Regulation J o f the Board o f
Governors o f the Federal Reserve System, o f our Bulletin No. 8 relating to the
collection of cash items, and of this bulletin, the Federal Reserve Bank o f
Dallas will give credit on its books to member and nonmember clearing banks
at the times,indicated herein for cash items payable at par (a ) deposited with
the Federal Reserve Bank o f Dallas and (b ) sent direct to other Federal
Reserve banks and branches for our account. Credit is subject to applicable clos­
ing hours and sorting requirements as shown herein. Credit for items received
after the applicable closing hours will be computed from the following
business day.
PREPARATION OF CASH LETTERS BY SENDING BANKS

3. In order to obtain prompt credit, member and nonmember clearing banks
should assort items and list them in separate cash letters according to the sort­
ing classifications shown in this bulletin.
4. Member and nonmember clearing banks’ own drafts on their commercial
bank correspondents should be sent in separate cash letters; and, when sent
direct to other Federal Reserve banks and branches the direct sending advice
should be marked “ Transfer D raft,” with the A .B .A . transit number o f the
drawee bank indicated thereon.
5. All cash items, whether subject to immediate or deferred credit, may be
forwarded to us or may be forwarded by banks having the direct sending priv­
ilege to other Federal Reserve banks or branches, without description; however,
sending banks should maintain adequate records to enable them to identify
their depositors or endorsers in the event any items are lost or destroyed or
are otherwise uncollectible and nonreturnable.
6. Items may be listed on machine tapes in lieu o f listing on cash letter
forms but each tape should be identified with the name or A .B .A . transit num­
ber o f the sending bank and the date o f transmittal. It would be helpful if no
more than 300 items are listed on each tape.

— 2 —

BULLETIN N 0 . 8 A

GENERAL PROVISIONS

Time of Presentment
7 . This bank does not by this bulletin, or otherwise, agree to present any
item, or to cause any item to be presented, earlier than such item is required
to be presented, in the exercise o f ordinary care, by the provisions of the appli­
cable laws in effect in the State of Texas.

Definition of business day and effect of Saturday closing and
holidays upon availability
8. A business day as referred to in this bulletin means any day on which
this bank is open for business. In computing the availability o f credit for cash
items (except transfer drafts), any day on which this bank is open for busi­
ness will be counted as a business day notwithstanding that the bank on which
an item is drawn or the Federal Reserve bank or branch through which an item
is collected is closed on account of a Saturday closing or other holiday.
9. W hen the day on which credit would otherwise be given, pursuant to
this bulletin, is a Sunday or other holiday for the Federal Reserve Bank of
Dallas, credit will be given on the following business day.
CREDIT FOR CASH ITEMS SENT DIRECT TO OTHER
FEDERAL RESERVE BANKS

10.
Member and nonmember clearing banks which have arranged to send
cash items (exclusive o f Government checks and postal money orders) direct
to other Federal Reserve banks and branches for the account of this bank will
be given credit for items1 so sent as specified b elow :
(a ) Items payable in Federal Reserve bank or branch cities —
Based on the time (not to exceed two business days from date of
dispatch) normally required for the collection thereof, as may be
determined by the sending bank subject to our verification and
approval;
(b ) Items payable in localities outside o f Federal Reserve bank or
branch cities —
T w o business days from date o f dispatch;
provided, however, that this bank may, by giving notice to any member or non­
member clearing bank, prescribe the manner, and the time before which, all
items or certain items must be dispatched by such bank in order to obtain such
credit.

xDeferred credit for a member or nonmember clearing bank’s own draft on its com­
mercial bank correspondent will be based on actual collection time.

— 3—

BULLETIN No. 8A

HEAD OFFICE TIME SCHEDULE
Effective June 1, 1953
II.
The following schedule shows when credit will be available for
items received and accepted as cash items at the head office o f the Federal
Reserve Bank o f D allas:
*Dallas
(Closing hour 10:00 a.m. daily)
Fort W orth — Limited to bank drafts drawn on certain Fort Worth mem­
ber banks which are payable to our order and are drawn by member and
nonmember clearing banks located in the Eleventh Federal Reserve Dis­
trict.
(Closing hour 10:30 a.m. — Saturday 10:00 a.m.)

Immediate
Credit

Government paper checks drawn on the Treasurer o f the United States.
Government card checks drawn on the Treasurer of the United States,
including those payable through Federal Reserve banks.
United States postal money orders.
(Closing hour 1 :00 p.m. — Saturday 12:00 noon)
Drafts on Federal Reserve Bank o f Dallas and its branches; subject to
inspection and verification o f signatures at the head office or branch on
which they are drawn.
Cashier’s checks and expense checks o f all Federal Reserve banks and
branches.
Federal Reserve Exchange drafts.
(Closing hour 2 :00 p.m. — Saturday 1 :00 p.m.)

1
Business
Day After
Receipt
* **

2
Business
Days After
Receipt
**
* # *

El Paso
^Houston
*San Antonio
Atlanta

Birmingham
Chicago1
Denver
Kansas City
Little Rock

Memphis
Nashville
New Orleans
Oklahoma City
Omaha

(Closing hour 12:00 noon — Saturday 11:00 a.m.; items of $500 or
more, when listed in separate letters containing only such items, 2 :30
p.m. — Saturday 1 :00 p.m.)

Items payable in all other places shown in the Federal Reserve Par List.
(Closing hour 12:00 n oon— Saturday 11:00 a.m.; items of $500 or
more, when listed in separate letters containing only such items, 2 :30
p.m. —- Saturday 1 :00 p.m.)

*Except items drawn on banks located in outlying sections of the head office or branch
city indicated or in contiguous cities. Such items should be listed with other items subject
to deferred credit and should not be listed with items o f immediate availability. A list of
such banks is shown on page 4.
**Deferred credit for a member or nonmember clearing bank’s own draft on its commer­
cial bank correspondent will be based on actual collection time.

***Credit for items payable in other Federal Reserve bank and branch cities, when received
in separate letters, will be deferred on a calendar day basis when the items are in transit
to banks in those cities on a Sunday or a holiday.

—

4—

BULLETIN N0 . 8 A

ITEMS COLLECTED BY MAIL

12.
Items drawn on the following banks located in outlying sections o f the
head office or branch city indicated or in contiguous cities are collected by mail
and are subject to deferred credit.

N am e o f Bank

L o c a t io n

HEAD OFFICE TERRITORY

Grove State B a n k ................................................................................. Dallas, Texas
Highland Park State B a n k .................................................................. Dallas, Texas
(Highland Park)
Hillcrest State B a n k .......................................................................... Dallas, Texas
(University Park)
HOUSTON BRANCH TERRITORY

Almeda State B a n k ..........................................................................Houston, Texas
American National B a n k ........................................................... Houston, Texas
Commercial State B a n k .................................................................. Houston, Texas
East End State B a n k .................................................................. Houston, Texas
Fannin State B a n k ..........................................................................Houston, Texas
First State Bank o f Green’s B a y o u ............................................ Houston, Texas
Harrisburg National B a n k ........................................................... Houston, Texas
Heights State B a n k .......................................................................... Houston, Texas
The Industrial State B a n k ...........................................................Houston, Texas
North Side State B a n k .................................................................. Houston, Texas
Port City State B a n k .................................................................. Houston, Texas
Reagan State B a n k ..........................................................................Houston, Texas
River Oaks State B a n k .................................................................. Houston, Texas
Security State B a n k ..........................................................................Houston, Texas
University State B a n k .................................................................. Houston, Texas
SAN ANTONIO BRANCH TERRITORY

Broadway National Bank o f Alamo Heights .
.
.
San Antonio, Texas
Harlandale State B a n k .................................................... San Antonio, Texas
Highland Park State B a n k .............................................San Antonio, Texas
Jefferson State B a n k .................................................... San Antonio, Texas
National Bank of Fort Sam H o u s to n .............................. San Antonio, Texas
Union State B a n k ............................................................San Antonio, Texas

— 5—
13.
fo llo w s:

BULLETIN N0 . 8 A

All mail forwarded to offices o f this bank should be addressed as

Head Office
Federal Reserve Bank
Station K
Dallas, Texas

El Paso Branch
Federal Reserve Bank Branch
El Paso, Texas

Houston Branch
Federal Reserve Bank Branch
P. O. B ox 2578
Houston 1, Texas

San Antonio Branch
Federal Reserve Bank Branch
P. O. B ox 1471
San Antonio 6, Texas

RIGHT TO AMEND

14.
The time schedules contained herein supersede all previous schedules
and are subject to change without notice. The right is reserved to withdraw,
add to, or amend, at any time, any of the provisions of this bulletin.
Respectfully,
R. R. G IL B E R T

President

FEDERAL RESERVE BANK
OF DALLAS

BULLETIN NO. 8A
JUNE 1, 1953
(Superseding Time Schedules
dated July 1, 1951)

TIME SCHEDULES AND OTHER INFORMATION
RELATIVE TO THE COLLECTION OF CASH ITEMS

T o the Member and Nonmember Clearing Banks
o f the Eleventh Federal Reserve District:
1. Unless otherwise stated, all references in this bulletin to the Federal
Reserve Bank o f Dallas will include the head office and all of its branches.
2. Subject to the terms and conditions o f Regulation J o f the Board o f
Governors o f the Federal Reserve System, o f our Bulletin No. 8 relating to the
collection o f cash items, and of this bulletin, the Federal Reserve Bank o f
Dallas will give credit on its books to member and nonmember clearing banks
at the times indicated herein for cash items payable at par (a ) deposited with
the Federal Reserve Bank of Dallas and ( b ) sent direct to other Federal
Reserve banks and branches for our account. Credit is subject to applicable clos­
ing hours and sorting requirements as shown herein. Credit for items received
after the applicable closing hours will be computed from the following
business day.
PREPARATION OF CASH LETTERS BY SENDING BANKS

3. In order to obtain prompt credit, member and nonmember clearing banks
should assort items and list them in separate cash letters according to the sort­
ing classifications shown in this bulletin.
4. Member and nonmember clearing banks’ own drafts on their commercial
bank correspondents should be sent in separate cash letters; and, when sent
direct to other Federal Reserve banks and branches the direct sending advice
should be marked “ Transfer D raft,” with the A .B .A . transit number o f the
drawee bank indicated thereon.
5. All cash items, whether subject to immediate or deferred credit, may be
forwarded to us or may be forwarded by banks having the direct sending priv­
ilege to other Federal Reserve banks or branches, without description; however,
sending banks should maintain adequate records to enable them to identify
their depositors or endorsers in the event any items are lost or destroyed or
are otherwise uncollectible and nonreturnable.
6. Items may be listed on machine tapes in lieu o f listing on cash letter
forms but each tape should be identified with the name or A .B .A . transit num­
ber o f the sending bank and the date o f transmittal. It would be helpful if no
more than 300 items are listed on each tape.

— 2 —

BULLETIN N 0 . 8 A

GENERAL PROVISIONS

Time of Presentment
7 . This bank does not by this bulletin, or otherwise, agree to present any
item, or to cause any item to be presented, earlier than such item is required
to be presented, in the exercise o f ordinary care, by the provisions of the appli­
cable laws in effect in the State of Texas.

Definition of business day and effect of Saturday closing and
holidays upon availability
8. A business day as referred to in this bulletin means any day on which
this bank is open for business. In computing the availability o f credit for cash
items (except transfer drafts), any day on which this bank is open for busi­
ness will be counted as a business day notwithstanding that the bank on which
an item is drawn or the Federal Reserve bank or branch through which an item
is collected is closed on account o f a Saturday closing or other holiday.
9. W hen the day on which credit would otherwise be given, pursuant to
this bulletin, is a Sunday or other holiday for the Federal Reserve Bank of
Dallas, credit will be given on the following business day.
CREDIT FOR CASH ITEMS SENT DIRECT TO OTHER
FEDERAL RESERVE BANKS

10.
Member and nonmember clearing banks which have arranged to send
cash items (exclusive o f Government checks and postal money orders) direct
to other Federal Reserve banks and branches for the account of this bank will
be given credit for items1 so sent as specified b elow :
(a ) Items payable in Federal Reserve bank or branch cities —
Based on the time (not to exceed two business days from date of
dispatch) normally required for the collection thereof, as may be
determined by the sending bank subject to our verification and
approval;
(b ) Items payable in localities outside o f Federal Reserve bank or
branch cities —
Tw o business days from date o f dispatch;
provided, however, that this bank may, by giving notice to any member or non­
member clearing bank, prescribe the manner, and the time before which, all
items or certain items must be dispatched by such bank in order to obtain such
credit.

1 Deferred credit for a member or nonmember clearing bank’s own draft on its com­
mercial bank correspondent will be based on actual collection time.

3

__ ___

B U L L E T IN N 0.8A

EL PASO BRANCH TIME SCHEDULE
Effective June 1, 1953
11.
The following schedule shows when credit will be available for
items received and accepted as cash items at the El Paso branch o f the Federal
Reserve Bank of D allas:

El Paso
(Closing hour 9 :45 a.m. — Saturday 9 :00 a.m.)

,
..
Im m ediate

Government paper checks drawn on the Treasurer of the United States.
Government card checks drawn on the Treasurer of the United States,
including those payable through Federal Reserve banks.
United States postal money orders.
(Closing hour 1 :00 p.m. — Saturday 12 :00 noon)

Credit

Drafts on Federal Reserve Bank o f Dallas and its branches; subject to
inspection and verification o f signatures at the head office or branch on
which they are drawn.
Cashier’s checks and expense checks of all Federal Reserve banks and
branches.
Federal Reserve Exchange drafts.
(Closing hour 2:00 p.m. — Saturday 12:00 noon.)

1
Business
Day After
Receipt

^Dallas
Memphis
Nashville
Fort Worth — Limited to bank drafts drawn on certain Fort Worth mem­
ber banks which are payable to our order and are drawn by member and
nonmember clearing banks located in the Eleventh Federal Reserve
District.

(Closing hour 12:00 noon— Saturday 11:00 a.m.; items o f $500 or more,
when listed in separate letters containing only such items, 2 :00 p.m. —
Saturday 12:00 noon.)

2
Business
Days After
Receipt
$ *

Items payable in all other places shown in the Federal Reserve Par List.
(Closing hour 12 :00 noon — Saturday 11 :00 a.m.; items o f $500 or more,
when listed in separate letters containing only such items, 2 :00 p.m. —
Saturday 12 :00 noon)

* * *

*Except items drawn on banks located in outlying sections o f the head office or branch
city indicated or in contiguous cities. Such items should be listed with other items subject
to deferred credit and should not be listed with items of immediate availability. A list of
such banks is shown on page 4.

**Deferred credit for a member or nonmember clearing bank’s own draft on its commer­
cial bank correspondent will be based on actual collection time.
***Credit for items payable in other Federal Reserve bank and branch cities, when received
in separate letters, will be deferred on a calendar day basis when the items are in transit
to banks in those cities on a Sunday or a holiday.

—

4—

B U L L E T IN N 0.8A

ITEMS COLLECTED BY MAIL
12.
Items drawn on the following banks located in outlying sections of the
head office or branch city indicated or in contiguous cities are collected by mail
and are subject to deferred credit.

N am e o f Bank

L o c a tio n

HEAD OFFICE TERRITORY
Grove State B a n k ................................................................................. Dallas, Texas
Highland Park State B a n k .................................................................. Dallas, Texas
(Highland Park)
Hillcrest State B a n k .......................................................................... Dallas, Texas
(University Park)
HOUSTON BRANCH TERRITORY
Almeda State B a n k .......................................................................... Houston,
American National B a n k ........................................................... Houston,
Commercial State B a n k .................................................................. Houston,
East End State B a n k .................................................................. Houston,
Fannin State B a n k ..........................................................................Houston,
First State Bank o f Green’s B a y o u ............................................ Houston,
Harrisburg National B a n k ........................................................... Houston,
Heights State B a n k .......................................................................... Houston,
The Industrial State B a n k ........................................................... Houston,
North Side State B a n k .................................................................. Houston,
Port City State B a n k .................................................................. Houston,
Reagan State B a n k ..........................................................................Houston,
River Oaks State B a n k .................................................................. Houston,
Security State B a n k ..........................................................................Houston,
University State B a n k .................................................................. Houston,

Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas

SAN ANTONIO BRANCH TERRITORY
Broadway National Bank o f Alamo Heights .
.
.
San Antonio, Texas
Harlandale State B a n k .................................................... San Antonio, Texas
Highland Park State B a n k .............................................San Antonio, Texas
Jefferson State B a n k .................................................... San Antonio, Texas
National Bank of Fort Sam H o u s to n .............................. San Antonio, Texas
Union State B a n k ............................................................San Antonio, Texas

— 5—
13.
fo llo w s:

B U L L E T IN N 0.8A

All mail forwarded to offices o f this bank should be addressed as

Head Office
Federal Reserve Bank
Station K
Dallas, Texas

El Paso Branch
Federal Reserve Bank Branch
El Paso, Texas

Houston Branch
Federal Reserve Bank Branch
P. O. B ox 2578
Houston 1, Texas

San Antonio Branch
Federal Reserve Bank Branch
P. O. B ox 1471
San Antonio 6, Texas

RIG H T TO AMEND

14.
The time schedules contained herein supersede all previous schedules
and are subject to change without notice. The right is reserved to withdraw,
add to, or amend, at any time, any of the provisions of this bulletin.
Respectfully,
R. R. G IL B E R T

President

FEDERAL RESERVE B AN K
OF DALLAS

BULLETIN NO. 8A
JUNE 1, 1953

(Superseding Time Schedules
dated July 1, 1951)

TIME SCHEDULES AND OTHER INFORMATION
RELATIVE TO THE COLLECTION OF CASH ITEMS

T o the Member and Nonmember Clearing Banks
o f the Eleventh Federal Reserve D istrict:
1. Unless otherwise stated, all references in this bulletin to the Federal
Reserve Bank o f Dallas will include the head office and all of its branches.
2. Subject to the terms and conditions o f Regulation J o f the Board of
Governors o f the Federal Reserve System, o f our Bulletin No. 8 relating to the
collection of cash items, and of this bulletin, the Federal Reserve Bank of
Dallas will give credit on its books to member and nonmember clearing banks
at the times indicated herein for cash items payable at par (a ) deposited with
the Federal Reserve Bank of Dallas and (b ) sent direct to other Federal
Reserve banks and branches for our account. Credit is subject to applicable clos­
ing hours and sorting requirements as shown herein. Credit for items received
after the applicable closing hours will be computed from the following
business day.
PREPARATION OF CASH LETTERS B Y SENDING BANKS

3. In order to obtain prompt credit, member and nonmember clearing banks
should assort items and list them in separate cash letters according to the sort­
ing classifications shown in this bulletin.
4. Member and nonmember clearing banks’ own drafts on their commercial
bank correspondents should be sent in separate cash letters; and, when sent
direct to other Federal Reserve banks and branches the direct sending advice
should be marked “ Transfer D raft,” with the A .B .A . transit number o f the
drawee bank indicated thereon.
5. All cash items, whether subject to immediate or deferred credit, may be
forwarded to us or may be forwarded by banks having the direct sending priv­
ilege to other Federal Reserve banks or branches, without description; however,
sending banks should maintain adequate records to enable them to identify
their depositors or endorsers in the event any items are lost or destroyed or
are otherwise uncollectible and nonreturnable.
6. Items may be listed on machine tapes in lieu o f listing on cash letter
forms but each tape should be identified with the name or A .B .A . transit num­
ber o f the sending bank and the date o f transmittal. It would be helpful if no
more than 300 items are listed on each tape.

— 2—

B U L L E T IN N 0.8A

GENERAL PROVISIONS

Time of Presentment
7. This bank does not by this bulletin, or otherwise, agree to present any
item, or to cause any item to be presented, earlier than such item is required
to be presented, in the exercise of ordinary care, by the provisions of the appli­
cable laws in effect in the State of Texas.

Definition of business day and effect of Saturday closing and
holidays upon availability
8. A business day as referred to in this bulletin means any day on which
this bank is open for business. In computing the availability of credit for cash
items (except transfer drafts), any day on which this bank is open for busi­
ness will be counted as a business day notwithstanding that the bank on which
an item is drawn or the Federal Reserve bank or branch through which an item
is collected is closed on account o f a Saturday closing or other holiday.
9. W hen the day on which credit would otherwise be given, pursuant to
this bulletin, is a Sunday or other holiday fo r the Federal Reserve Bank of
Dallas, credit will be given on the following business day.
CRED IT FOR CASH ITEM S SENT D IRECT TO OTH ER
FED ERAL RESERVE BANKS

10.
Member and nonmember clearing banks which have arranged to send
cash items (exclusive of Government checks and postal money orders) direct
to other Federal Reserve banks and branches for the account of this bank will
be given credit for items1 so sent as specified b elow :
(a ) Items payable in Federal Reserve bank or branch cities —
Based on the time (not to exceed two business days from date o f
dispatch) normally required for the collection thereof, as may be
determined by the sending bank subject to our verification and
approval;
(b ) Items payable in localities outside o f Federal Reserve bank or
branch cities —
Tw o business days from date o f dispatch;
provided, however, that this bank may, by giving notice to any member or non­
member clearing bank, prescribe the manner, and the time before which, all
items or certain items must be dispatched by such bank in order to obtain such
credit.

1 Deferred credit for a member or nonmember clearing bank’s own draft on its com­
mercial bank correspondent will be based on actual collection time.

—

3—

B U L L E T IN No. 8A

HOUSTON BRANCH TIME SCHEDULE
Effective June 1, 1953
11.
The following schedule shows when credit will be available for
items received and accepted as cash items at the Houston branch o f the Federal
Reserve Bank of Dallas:

^Houston
(Closing hour 10:00 a.m. daily.)

Immediate
Credit

Government paper checks drawn on the Treasurer of the United States.
Government card checks drawn on the Treasurer of the United States,
including those payable through Federal Reserve banks.
United States postal money orders.
(Closing hour 1:00 p.m. ■ Saturday 12:00 noon)
—

Drafts on Federal Reserve Bank o f Dallas and its branches; subject to
inspection and verification of signatures at the head office or branch on
which they are drawn.
Cashier’s checks and expense checks o f all Federal Reserve banks and
branches.
Federal Reserve Exchange drafts.
(Closing hour 2 :00 p.m. — Saturday 1 :00 p.m.)

^Dallas
El Paso
*San Antonio

1
Business
Day After
Receipt

Atlanta
Memphis
Birmingham
New Orleans
Kansas City
Oklahoma City
Little Rock
St. Louis
Fort Worth — Limited to< bank drafts drawn on certain Fort Worth mem­
ber banks which are payable to our order and are drawn by member and
nonmember clearing banks located in the Eleventh Federal Reserve
District.

(Closing hour 12:00 noon— Saturday 11 :00 a.m .; items o f $500 or more,
when listed in separate letters containing only such items, 2:30 p.m.—
Saturday 1 :00 p.m.)

2
Business
Days After
Receipt
* *

Items payable in all other places shown in the Federal Reserve Par List.
(Closing hour 12:00 noon— Saturday 11:00 a.m .; items of $500 or more,
when listed in separate letters containing only such items, 2:30 p.m.—■
Saturday 1 :00 p.m.)

*Except items drawn on banks located in outlying sections of the head office or branch
city indicated or in contiguous cities. Such items should be listed with other items subject
to deferred credit and should not be listed with items of immediate availability. A list of
such banks is shown on page 4.

**Deferred credit for a member or nonmember clearing bank’s own draft on its commer­
cial bank correspondent will be based on actual collection time.
***Credit for items payable in other Federal Reserve bank and branch cities, when received
in separate letters, will be deferred on a calendar day basis when the items are in transit
to banks in those cities on a Sunday or a holiday.

— 4 —

B U L L E T IN N 0.8A

ITEM S COLLECTED B Y MAIL

12.
Items drawn on the following banks located in outlying sections of the
head office or branch city indicated or in contiguous cities are collected by mail
and are subject to deferred credit.

N am e o f Bank

L o c a t io n

H EAD OFFICE T E R R IT O R Y

Grove State B a n k ................................................................................. Dallas, Texas
Highland Park State B a n k .................................................................. Dallas, Texas
(Highland Park)
Hillcrest State B a n k ..........................................................................Dallas, Texas
(University Park)
HOUSTON BRANCH T E R R IT O R Y

Almeda State B a n k .......................................................................... Houston, Texas
American National B a n k ........................................................... Houston, Texas
Commercial State B a n k .................................................................. Houston, Texas
East End State B a n k .................................................................. Houston, Texas
Fannin State B a n k ..........................................................................Houston, Texas
First State Bank o f Green’s B a y o u ............................................ Houston, Texas
Harrisburg National B a n k ........................................................... Houston, Texas
Heights State B a n k .......................................................................... Houston, Texas
The Industrial State B a n k ...........................................................Houston, Texas
North Side State B a n k .................................................................. Houston, Texas
Port City State B a n k .................................................................. Houston, Texas
Reagan State B a n k ..........................................................................Houston, Texas
River Oaks State B a n k .................................................................. Houston, Texas
Security State B a n k .......................................................................... Houston, Texas
University State B a n k .................................................................. Houston, Texas
SAN AN TO NIO BRANCH T E R R IT O R Y

Broadway National Bank of Alamo Heights .
.
.
San Antonio, Texas
Harlandale State B a n k .................................................... San Antonio, Texas
Highland Park State B a n k .............................................San Antonio, Texas
Jefferson State B a n k .................................................... San Antonio, Texas
National Bank o f Fort Sam H o u s to n .............................. San Antonio, Texas
Union State B a n k ............................................................San Antonio, Texas

— 5—
13.
fo llow s:

B U L L E T IN N 0.8A

All mail forwarded to offices of this bank should be addressed as

Head Office
Federal Reserve Bank
Station K
Dallas, Texas

El Paso Branch
Federal Reserve Bank Branch
El Paso, Texas

Houston Branch
Federal Reserve Bank Branch
P. O. B ox 2578
Houston 1, Texas

San Antonio Branch
Federal Reserve Bank Branch
P. O. B ox 1471
San Antonio 6, Texas

R IG H T TO AMEND

14.
The time schedules contained herein supersede all previous schedules
and are subject to change without notice. The right is reserved to withdraw,
add to, or amend, at any time, any o f the provisions of this bulletin.
Respectfully,
R. R . G IL B E R T

President

FEDERAL RESERVE B AN K
OF DALLAS

BULLETIN NO. 8A
JUNE 1, 1953

(Superseding- Time Schedules
dated July 1, 1951)

TIME SCHEDULES AND OTHER INFORMATION
RELATIVE TO THE COLLECTION OF CASH ITEMS

T o the Member and Nonmember Clearing Banks
o f the Eleventh Federal Reserve D istrict:
1. Unless otherwise stated, all references in this bulletin to the Federal
Reserve Bank o f Dallas will include the head office and all of its branches.
2. Subject to the terms and conditions o f Regulation J o f the Board of
Governors o f the Federal Reserve System, of our Bulletin No. 8 relating to the
collection o f cash items, and of this bulletin, the Federal Reserve Bank of
Dallas will give credit on its books to member and nonmember clearing banks
at the times indicated herein for cash items payable at par (a ) deposited with
the Federal Reserve Bank o f Dallas and (b ) sent direct to other Federal
Reserve banks and branches for our account. Credit is subject to applicable clos­
ing hours and sorting requirements as shown herein. Credit for items received
after the applicable closing hours will be computed from the following
business day.
PREPARATION OF CASH LETTERS B Y SENDING BANKS

3. In order to obtain prompt credit, member and nonmember clearing banks
should assort items and list them in separate cash letters according to the sort­
ing classifications shown in this bulletin.
4. Member and nonmember clearing banks’ own drafts on their commercial
bank correspondents should be sent in separate cash letters; and, when sent
direct to other Federal Reserve banks and branches the direct sending advice
should be marked “ Transfer D raft,” with the A .B .A . transit number o f the
drawee bank indicated thereon.
5. All cash items, whether subject to immediate or deferred credit, may be
forwarded to us or may be forwarded by banks having the direct sending priv­
ilege to other Federal Reserve banks or branches, without description; however,
sending banks should maintain adequate records to enable them to identify
their depositors or endorsers in the event any items are lost or destroyed or
are otherwise uncollectible and nonreturnable.
6. Items may be listed on machine tapes in lieu of listing on cash letter
forms but each tape should be identified with the name or A .B .A . transit num­
ber o f the sending bank and the date o f transmittal. It would be helpful if no
more than 300 items are listed on each tape.

— 2—

B U L L E T IN N 0.8A

GENERAL PROVISIONS

Time of Presentment
7. This bank does not by this bulletin, or otherwise, agree to present any
item, or to cause any item to be presented, earlier than such item is required
to be presented, in the exercise of ordinary care, by the provisions o f the appli­
cable laws in effect in the State o f Texas.

Definition of business day and effect of Saturday closing and
holidays upon availability
8. A business day as referred to in this bulletin means any day on which
this bank is open for business. In computing the availability of credit for cash
items (except transfer drafts), any day on which this bank is open for busi­
ness will be counted as a business day notwithstanding that the bank on which
an item is drawn or the Federal Reserve bank or branch through which an item
is collected is closed on account o f a Saturday closing or other holiday.
9. W hen the day on which credit would otherwise be given, pursuant to
this bulletin, is a Sunday or other holiday for the Federal Reserve Bank of
Dallas, credit will be given on the following business day.
CRED IT FOR CASH ITEM S SENT D IRECT TO OTH ER
FEDERAL RESERVE BANKS

10.
Member and nonmember clearing banks which have arranged to send
cash items (exclusive o f Government checks and postal money orders) direct
to other Federal Reserve banks and branches for the account of this bank will
be given credit for items1 so sent as specified b elow :
(a ) Items payable in Federal Reserve bank or branch cities —
Based on the time (not to exceed two business days from date of
dispatch) normally required for the collection thereof, as may be
determined by the sending bank subject to our verification and
approval ;
(b ) Items payable in localities outside o f Federal Reserve bank or
branch cities —
T w o business days from date o f dispatch;
provided, however, that this bank may, b)' giving notice to any member or non­
member clearing bank, prescribe the manner, and the time before which, all
items or certain items must be dispatched by such bank in order to obtain such
credit.

1Deferred credit for a member or nonmember clearing bank’s own draft on its com­
mercial bank correspondent will be based on actual collection time.

—

3—

B U L L E T IN N 0.8A

SAN ANTONIO BRANCH TIME SCHEDULE
Effective June 1, 1953
11.
The following schedule shows when credit will be available for
items received and accepted as cash items at the San Antonio branch of the
Federal Reserve Bank of D allas:

:!:San Antonio
(Closing hour 10:30 a.tn. — Saturday 10:00 a.m.)

Immediate
Credit

Government paper checks drawn on the Treasurer o f the United States.
Government card checks drawn on the Treasurer of the United States,
including those payable through Federal Reserve banks.
United States postal money orders.
(Closing hour 1 :00 p.m. — Saturday 12 :00 noon)

Drafts on Federal Reserve Bank o f Dallas and its branches; subject to
inspection and verification o f signatures at the head office or branch on
which they are drawn.
Cashier’s checks and expense checks o f all Federal Reserve banks and
branches.
Federal Reserve Exchange drafts.
(Closing hour 2 :00 p.m. — Saturday 1 :00 p.m.)

^Dallas
^Houston
1
Business
Day After
Receipt

Atlanta
Memphis
Birmingham
Nashville
Kansas City
Oklahoma City
Fort Worth — Limited to bank drafts drawn on certain Fort Worth mem­
ber banks which are payable to our order and are drawn by member and
nonmember clearing banks located in the Eleventh Federal Reserve
District.

**
(Closing hour 12 :00 noon — Saturday 11:00 a.m.; items of $500 or more,
when listed in separate letters containing only such items, 3 :30 p.m. —
Saturday 1 :00 p.m.)

2
Business
Days After
Receipt

**

Items payable in all other places shown in the Federal Reserve Par List.
(Closing hour 12 :00 noon — Saturday 11:00 .m .; items o f $500 or more,
when listed in separate letters containing only such items, 3 :30 p.m.. —
Saturday 1 :00 p.m.)

<*
1

*Except items drawn on banks located in outlying sections o f the head office or branch
city indicated or in contiguous cities. Such items should be listed with other items subject
to deferred credit and should not be listed with items of immediate availability. A list of
such banks is shown on page 4.
**Deferred credit for a member or nonmember clearing bank’s own draft on its commer­
cial bank correspondent will be based on actual collection time.*
***Credit for items payable in other Federal Reserve bank and branch cities, when received
in separate letters, will be deferred on a calendar day basis when the items are in transit
to banks in those cities on a Sunday or a holiday.

— 4 —

B U L L E T IN N 0.8A

ITEM S COLLECTED B Y M AIL

12.
Items drawn on the following banks located in outlying sections o f the
head office or branch city indicated or in contiguous cities are collected by mail
and are subject to deferred credit.

N am e o f Bank

L o c a t io n

H EAD OFFICE TE R R IT O R Y

Grove State B a n k ................................................................................. Dallas, Texas
Highland Park State B a n k .................................................................. Dallas, Texas
(Highland Park)
Plillcrest State B a n k ..........................................................................Dallas, Texas
(University Park)
HOUSTON BRANCH T E R R IT O R Y

Almeda State B a n k ..........................................................................Houston,
American National B a n k ........................................................... Houston,
Commercial State B a n k .................................................................. Houston,
East End State B a n k .................................................................. Houston,
Fannin State B a n k ..........................................................................Houston,
First State Bank o f Green’s B a y o u ............................................ Houston,
Harrisburg National B a n k ...........................................................Houston,
Heights State B a n k .......................................................................... Houston,
The Industrial State B a n k ...........................................................Houston,
North Side State B a n k .................................................................. Houston,
Port City State B a n k .................................................................. Houston,
Reagan State B a n k ..........................................................................Houston,
River Oaks State B a n k .................................................................. Houston,
Security State B a n k ..........................................................................Houston,
University State B a n k .................................................................. Houston,

Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas

SAN AN TO NIO BRANCH T E R R IT O R Y

Broadway National Bank o f Alamo Heights .
.
.
San Antonio, Texas
Harlandale State B a n k .................................................... San Antonio, Texas
Highland Park State B a n k .............................................San Antonio, Texas
Jefferson State B a n k .................................................... San Antonio, Texas
National Bank o f Fort Sam H o u s to n .............................. San Antonio, Texas
Union State B a n k ............................................................San Antonio, Texas

— 5—
13.
fo llow s:

B U L L E T IN N 0.8A

A ll mail forwarded to offices of this bank should be addressed as

Head Office
Federal Reserve Bank
Station K
Dallas, Texas

El Paso Branch
Federal Reserve Bank Branch
El Paso, Texas

Houston Branch
Federal Reserve Bank Branch
P. O. B ox 2578
Houston 1, Texas

San Antonio Branch
Federal Reserve Bank Branch
P. O. B ox 1471
San Antonio 6, Texas

R IG H T T O AMEND

14.
The time schedules contained herein supersede all previous schedules
and are subject to change without notice. The right is reserved to withdraw,
add to, or amend, at any time, any o f the provisions o f this bulletin.
Respectfully,
R. R. G IL B E R T

President

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