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federal

Reserve ba n k of Dallas

DALLAS, TEXAS

75222
C i r c u l a r No. 81-88
A p r il 30, 1981

REVISED SCHEDULE OF OPERATING HOURS
FOR THE TRANSFER AND SETTLEMENT OF FUNDS
EFFECTIVE MAY 1, 1981

REVISED SCHEDULE OF OPERATING HOURS
FOR NET SETTLEMENT ARRANGEMENTS
EFFECTIVE MAY 1, 1981
TO THE CHIEF EXECUTIVE OFFICER OF
ALL FINANCIAL INSTITUTIONS IN THE
ELEVENTH FEDERAL RESERVE DISTRICT:
R e v is e d B u lle tin s 6A a n d 6C h a v e b e e n p r e p a r e d e ffectiv e May 1, 1981.
T h e s e B u lle tin s h a v e b e e n u p d a te d in o r d e r to r e f l e c t th e r e v i s e d s c h e d u le of
o p e r a tin g h o u r s fo r t r a n s f e r s of f u n d s a n d s e ttle m e n t of f u n d s d is p a tc h e d u n d e r
th e F e d e r a l R e s e r v e S y s te m 's w i r e n e tw o r k . In a d d it i o n , th e r e is a r e v i s e d
s c h e d u le of o p e r a tin g h o u r s fo r n e t s e ttle m e n t a r r a n g e m e n t s .
It s h o u ld b e n o te d th a t t h e r e is a 3 0 -m in u te e x te n s io n fo r i n t e r d i s t r i c t
t r a n s f e r item s ( o n - l in e i n s t r u c t i o n s ) . F o r i n t e r d i s t r i c t t r a n s f e r r e q u e s t s ( te le ­
p h o n ic i n s t r u c t i o n s ) , t h e r e is no e x te n s i o n . T e le p h o n ic i n s t r u c t i o n s r e q u i r e the
e a r l i e r c u t-o ff time in o r d e r to allow fo r a p p r o p r i a t e F e d e r a l R e s e r v e p r o c e s s in g
a n d h a n d lin g p r i o r to c u t-o ff tim e . T h e r e f o r e , in o r d e r to r e c a p i tu l a te th e new
h o u r s n o te d in B u lle tin 6A, w e a c c e p t i n t e r d i s t r i c t t r a n s f e r ite m s ( o n - l in e i n s t i tu t io n s )
u n til 3: 30 p . m . , C e n tr a l T im e e a c h b u s i n e s s d a y . (F o r th e El P a so T e r r i t o r y of the
E le v e n th F e d e r a l R e s e r v e D i s t r i c t , th e d e a d lin e i s 2: 30 p . m . , M ountain T im e ) . We
a c c e p t i n t e r d i s t r i c t t r a n s f e r r e q u e s t s ( te le p h o n ic i n s t r u c t i o n s ) u n til 3: 00 p . m . ,
C e n tra l T im e e a c h b u s i n e s s d a y . (F o r th e El P a so T e r r i t o r y of th e E le v e n th F e d ­
e r a l R e s e r v e D i s t r i c t , th e d e a d lin e is 2: 00 p . m . , M ountain T im e ) . I n t r a d i s t r i c t
t r a n s f e r d e a d lin e s for b o th t r a n s f e r item s ( o n - l in e ) a n d t r a n s f e r r e q u e s t s (te le p h o n ic )
a r e id e n tic a l to i n t e r d i s t r i c t t r a n s f e r d e a d l i n e s .
C o n c e r n in g th e s e ttle m e n t p e r i o d , th e r e i s a tw o - h o u r e x te n s io n to
allow a r e a s o n a b le s e ttle m e n t p e r i o d am ong fin a n c ia l d e p o s ito r y in s titu tio n s a n d
in v o lv e s s e ttle m e n t t r a n s f e r s o n ly . (F o r th e D a lla s , H o u s to n , a n d S an A ntonio
t e r r i t o r i e s , t h is e x te n s io n i s from 3: 30 p . m . to 5: 30 p . m . , C e n tr a l T im e each
b u s i n e s s day; for th e El P a s o t e r r i t o r y , th e s e ttle m e n t p e r i o d h o u r s a r e from
2: 30 p . m . to 4: 30 p . m . , M ountain T im e ) . T h e s e tim es a r e a p p lic a b le to s e tt le ­
m en t t r a n s f e r item s ( o n - lin e i n s t r u c t i o n s ) . H o w e v e r, s e ttle m e n t t r a n s f e r r e ­
q u e s ts ( te le p h o n ic i n s t r u c t i o n s ) w ill h a v e a n e a r l i e r c u t-o ff of 5: 00 p . m . , C e n tra l

Banks and others are encouraged to use the following incoming W A TS numbers in contacting this Bank:
1-800-442-7140 (intrastate) and 1-800-527-9200 (interstate). For calls placed locally, please use 651 plus the
extension referred to above.

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

- 2 -

T im e (4: 00 p .m . , M ountain T im e ) . S e ttle m e n t t r a n s f e r s a r e r e s t r i c t e d to t r a n s ­
f e r s b e tw e e n a t r a n s f e r o r a n d t r a n s f e r e e fo r t h e i r own a c c o u n ts , o r fo r th e a c ­
c o u n t of a n o th e r fin a n c ia l d e p o s ito r y i n s titu tio n on th e b ooks of th e t r a n s f e r o r o r
t r a n s f e r e e . A s e ttle m e n t t r a n s f e r m u s t b e id e n tifie d w ith ty p e code 16 a n d m ay
c o n ta in t h i r d p a r t y in fo rm a tio n r e l a t i n g o n ly to fin a n c ia l d e p o s ito ry i n s t i t u t i o n s .
S e ttle m e n t t r a n s f e r s m ay b e u s e d to a d j u s t fo r n e t s e ttle m e n t t r a n s a c t i o n s . Im m e­
d ia te te le p h o n e a d v ic e is n o t p r o v i d e d fo r s e ttle m e n t t r a n s f e r s . T h e e x te n d e d
tw o - h o u r s e ttle m e n t p e r i o d w ill fa c ilita te r e s e r v e a c c o u n t m a n a g e m e n t a n d e n a b le
d e p o s ito r y in s t i tu t io n s to h a v e a c c e s s to a n a tio n a l m a r k e t to b u y a n d se ll F e d e r a l
F unds.
E x c e p t fo r m ajo r F e d e r a l R e s e r v e C o m m u n icatio n s S y ste m f a i l u r e s , th e r e
w ill b e no e x te n s io n of tim e d e a d li n e s . I n s titu tio n s s h o u ld e s ta b lis h i n t e r n a l p r o ­
c e d u r e s to i n s u r e t h a t a ll m e s s a g e s h a v e b e e n t r a n s m itte d p r i o r to th e a p p r o p r i a t e
c u t- o f f .
A co p y of th e r e v i s e d B u lle tin s e ffe c tiv e May 1, 1981 a r e a tta c h e d . T h e y
s h o u ld b e file d w ith B u lle tin 6 in th e R e g u la tio n s B in d e r f u r n i s h e d b y th is B a n k .
A d d itio n a l c o p ie s of th e B u lle tin s w ill b e f u r n i s h e d u p o n r e q u e s t to th e D e p a rtm e n t
of C o m m u n ic a tio n s , F in a n c ia l a n d C om m unity A f f a ir s , E x t. 6266.
Q u e s tio n s r e g a r d i n g th is c i r c u l a r s h o u ld b e d i r e c te d to R ic h a r d D .
I n g r a m , A s s i s t a n t V ice P r e s i d e n t , E x t. 6333, a t th e D allas Office; W illiam L . W ilson,
A s s i s t a n t V ice P r e s i d e n t , (915) 544-4730 at th e
El P a so Office; C . O . H olt, J r . ,
A s s i s t a n t V ice P r e s i d e n t , (713) 659-4433 at th e
H o u sto n Office; o r T o n y V a le n c ia ,
A s s i s t a n t V ice P r e s i d e n t , (512) 224-2141 a t th e
S an A ntonio O ffice.
S in c e r e ly y o u r s ,
W illiam H . W allace
F i r s t V ice P r e s i d e n t
A tta c h m e n ts

FEDERAL RESERVE BANK OF DALLAS

BULLETIN 6A

SCHEDULE OF TIME LIMITS
(Closing Hours for Telegraphic T ransfers of Funds
for Consummation on Day of Receipt)

I. Closing Hours
A. Interdistrict T ransfers
We accept interdistrict tra n sfe r items (on-line instructions) until 3:30 p.m., and interdistrict
transfer requests (telephonic instructions) until 3:00 p.m., Central Time each business day. (For the El
Paso Territory of the Eleventh Federal Reserve District, the times a re 2:30 p.m. and 2:00 p.m., respective­
ly, Mountain Time). In our discretion, we may accept interdistrict tra n sfe r items and requests after these
times, but the completion of such transfers is also at the discretion of the tra n sfe re e ’s Reserve Bank.
B. Intradistrict T ran sfers
We accept intradistrict transfer items (on-line instructions) until 3:30 p.m., and intradistrict
tra n sfe r requests (telephonic instructions) until 3:00 p.m., Central Time each business day. (For the El
Paso Territory of the Eleventh Federal Reserve District, the times a re 2:30 p.m. and 2:00 p.m., respective­
ly, M ountain Time). In our discretion, we may accept intradistrict tra n sfe r items and requests after these
times.
n . Settlement Period
We accept settlem ent tra n sfe r items (on-line instructions) until 5:30 p.m., and settlement tra n sfe r
requests (telephonic instructions) until 5:00 p.m., Central Time each business day. (For the El Paso Ter­
ritory of the Eleventh Federal Reserve District, times are 4:30 p.m. and 4:00 p.m., respectively, Mountain
Time). A settlement transfer is a tra n sfe r betw een a transferor and transferee for their own accounts, or
for the account of another financial depository institution on the books of the transferor or transferee. A
settlement tra n sfe r must be identified with type code 16, and may contain third p arty information
relating only to financial depository institutions. Settlement tra n sfe rs may be used to adjust for net settle­
ment transactions. Immediate telephone advice is not provided for settlement transfers.

BULLETIN 6C

FEDERAL RESERVE BANK OF DALLAS

FEE SCHEDULE FOR
NET SETTLEMENT SERVICES
(Effective January 29, 1981)

NET SETTLEMENT

Basic Settlement Charge Per Entry

$ .80

Surcharges:
Settlement Originated Off-Line
Telephone Advice Requested

2.70
1.80*

*Fees for advices requested by an originator
became effective M arch 26, 1981.

SCHEDULE OF TIME LIMITS

NET SETTLEMENT
Organizations participating in net settlem ent arrangem ents must begin to submit settlement tra n s­
action detail to us by 4:00 p.m. Central Time, or at such earlier time as in the judgment of this Reserve
Bank as will insure completion of all transactions by 5:00 p.m. Central Time. (For the El Paso Territory of
the Eleventh Federal Reserve District, times are 3:00 p.m. and 4:00 p.m., respectively, Mountain Time).