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F ederal r e s e r v e Ba nk o f Dallas DALLAS. TEXAS 75222 C irc u la r No. 78-121 August 30, 1978 REVISED SUPPLEMENT A TO BULLETIN 8 TO A L L BANKS IN THE ELEVENTH FEDERAL RESERVE D IS T R IC T: Paragraphs A - 1 .00 and A - 2 .0 0 of Supplement A to our Bulletin 8 have been changed to incorporate the procedures necessitated by the im plementation of the T r e a s u r y Check Truncation Program . Paragraph A - 4 .0 0 has been changed to remove a duplication of w ording erroneously printed d u rin g a previous revisio n . We a re enclosing a revised Supplement A to Bulletin 8, which reflects the changes mentioned above. Member banks and others should file the supplement in th e ir Regulations B inder and the corresponding page should be removed and destroyed. Questions concerning these changes should be directed to T . E. Spreng, Assistant V ice President at the Head O ffice, E xt. 6336. Additional copies of the supplement w ill be furnished upon request to the S e cretary's Office of this Bank, E x t. 6267. S incerely you rs, Robert H . Boykin F irs t V ic e President Enclosure Banks and others are encouraged to use the fo llo w in g incoming WATS numbers in contacting this Bank: 1-800-492-4403 (intrastate) and 1-800-527-4970 (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) FEDERAL RESERVE BANK OF DALLAS BULLETIN 8 Supplement A GOVERNMENT CHECKS after the date of issuance of the check and (2) an action to enforce liability upon a forged or un authorized signature or endorsement or altera tion of any Government check m ust be com menced within six years after the presentment of the check, or written notice of such a claim given within that period, provided that, if a claim is made upon an apparently paid check, the six-year period with respect to the com mencem ent of an action or the giving of w ritten notice will be extended an additional 180 days. A-1.00 Terms of handling Government checks draw n on the United States Treasury will be handled by us as cash items in accordance with, and subject to, the provisions of Treasury Departm ent Circular 21 (31 CFR 240). Copies of that Circular will be furnished upon request. W ith respect to m atters not covered by that Circular, the terms and conditons of Regulation J applicable to cash items, of this bulletin, and of our time schedules shall be ap plicable to all such Government checks. Supplement B POSTAL MONEY ORDERS B-1.00 Terms of handling A-2.00 Immediate credit We will give immediate credit, subject to pay m ent in actually and finally collected funds, for Government checks as provided in our time schedules. Such checks, after handling by us as fiscal agent of the United States in accordance with requirements of the United States Treasury, shall be subject in all cases to examination and payment by the United States Treasury. Under Treasury Circular 21, the United States Treasury has reserved the right to examine and to refuse payment of all Government checks handled by the Federal Reserve Banks. Postal money orders (United States postal money orders; United States international postal money orders; dom estic-international postal money orders] will be handled by us as cash items in accordance with an agreement made by the United States Postal Service, and by the Federal Reserve Banks as depositaries and fiscal agents of the United States pursuant to author ization of the Secretary of the Treasury. W ith respect to m atters not covered by that agree ment, the terms and conditions of Regulation } applicable to cash items, of this bulletin, and of our time schedules shall be applicable to all such postal money orders. A-3.00 Returns B-2.00 Immediate credit Section 210.12 of Regulation J, relating to the return of cash items by paying banks, is not applicable to Government checks. In the event that the United States Treasury refuses payment of any Government check upon first examina tion and such check, or photographic copy there of, is returned to this Bank as outlined in Treas ury Circular 21, the amount of such check will be charged back to the account of the sender and simultaneously credited to the account of the United States Treasury. This Bank shall have no responsibility to the sender of any Govern ment check, or any other owner or holder there of, with respect to the nonpaym ent of any such check and return by the United States Treasury of any such check or photographic copy thereof. We will give immediate credit for postal money orders received from a sender maintaining or using an account with us as provided in our time schedules. Simultaneously w ith such credit, we will debit the amount of such m oney orders against the general account of the United States Treasury under such symbol num bers as may be assigned by the United States Treasury; and such credit to the account of the sender shall then become final as betw een us and the sender. B-3.00 Claims, returns The agreement betw een the United States Postal Service and the Federal Reserve Banks provides, in effect, that no claim for refund or otherwise with respect to any postal m oney order debited against the general account of the United States Treasury and delivered to the representative of the United States Postal Service as provided in said agreement (other than a claim based upon the negligence of a Federal Reserve Bank] shall be m ade against or through any Federal Reserve A-4.00 Claims and actions The attention of senders is directed to 31 U.S.C. 122 and 129, to the effect that (1) claims on a Government check which appears of record to have been paid, m ust be made within six years H W jlc& z 8-31-78 $ ----- - q U J L x lk j L o jj I a / BULLETIN 8 FEDERAL RESERVE BANK OF DALLAS Bank; that, if the United States Postal Service makes any such claim w ith respect to any such money order such money order will not be re turned or sent to a Federal Reserve Bank, but the United States Postal Service will deal di rectly w ith the bank or the party against which such claim is made; and that the Federal Reserve Banks will assist the United States Postal Service in asserting such claim, including making their records and any relevant evidence in their pos session available to the United States Postal Service. Section 210.12 of Regulation J, relating to the return of cash items by the paying banks is not applicable to postal money orders. Supplement C FOOD COUPONS C-1.00 General Food coupons will be handled by us as cash items in accordance w ith an agreement made by the Secretary of Agriculture, in behalf of the United States, and by the Federal Reserve Banks as depositaries and fiscal agents of the United States pursuant to authorization of the Secretary of the Treasury. W ith respect to m at ters not covered by such agreement, the terms and conditions of Regulation J applicable to cash items, of this bulletin, and of our time schedules shall be applicable to such coupons. We will re ceive food coupons only from member banks and nonm em ber banks which have arranged w ith us to send coupons to us for collection for credit to the account of a member bank on our books. All such banks sending coupons to us should follow the instructions set forth in an outline of procedures for commercial banks in handling such coupons under the current Food Stamp Program, prepared by the United States Departm ent of Agriculture. C-2.00 Terms and conditions W e will accept food coupons received by us in accordance with the following terms and condi tions: (1) Redeemed food coupons should be forwarded to the office of this Bank maintaining the reserve account to which the proceeds of the coupons are to be credited. We will give immediate credit for deposits of redeem ed food coupons as pro vided in our time schedules. Such credit will not be final and will be subject to reclamation and adjustment. (2] Food coupons should be separately sorted by denominations and should be deposited in a separate cash letter. The sending bank’s trans mittal letter should be clearly stamped or m arked ‘‘FOOD C O U P O N S .” T h e tr a n s m i t ta l le t t e r should show the total num ber of, and the total amount of, each denomination of coupons en closed. Food coupons should be forw arded to us by the means ordinarily used by the sender for checks and other cash items; such shipments will be at the risk of the Departm ent of Agricul ture, only to the extent and under the conditions stated in 7 CFR 272.5(c). Sending banks should retain custom ers’ deposit slips and any other pertinent records which would assist in substan tiating reim bursement claims against the Depart m ent of Agriculture for coupons lost in transit. (3] In accordance w ith the regulations of the United States Departm ent of Agriculture (7 CFR 2), a portion of a food coupon consisting of less than three-fifths of a whole coupon shall not be accepted for redemption. Any coupon accepted for redemption shall show on its back either the A U T H O R IZ A T IO N NUMBER or the name of the authorized retail food store and, if involved, the authorized wholesale food con cern. Each coupon shall also be cancelled by the first bank which receives it by indelibly marking "PAID” or “CANCELLED,” together w ith the name of the bank or its ABA transit number, on the face of the coupon by means of an appropriate stamp. No coupon should be en dorsed by any bank. (4] Additional information concerning the col lection of food coupons will be furnished by us upon request. C-3.00 Nonmember banks Nonmember banks which have not arranged w ith us to deposit food coupons for collection for credit to an account of a mem ber bank on our books should forw ard redeemed food coupons through ordinary collection channels.
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