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F ed er a l R e se r v e B ank OF DALLAS W ILLIAM H. W ALLACE DALLAS. TEXAS 7 5 2 2 2 f i r s t v ic e p r e s i d e n t February 22, 1985 Circular 85-26 TO: The Chief Executive Officer of all depository institutions in the Eleventh Federal Reserve District SUBJECT Revised ta b le o f contents and page 9 o f B u lle tin 5 DETAILS Section 7, Food Coupons, has been amended to conform to the new Food and Nutrition Service (FNS) regulations reducing the liability of FNS for shipments of food coupons lost while in transit to the Reserve Bank or to the FNS. The Federal Reserve Bank of Dallas is issuing a revised table of contents and page 9 of Bulletin 5 reflecting the deletion of paragraph 7.15 Assumption of Risk. The revised pages should be inserted in Bulletin 5 in Volume 1 of your Regulations Binders and the old pages removed. ATTACHMENTS The revised pages to Bulletin 5 are attached. MORE INFORMATION For more information, please contact Mary M. Rosas (214) 651-6336 at the Head Office, Robert W. Schultz (915) 544-4730 at the El Paso Branch, Luke E. Richards (713) 659-4433 at the Houston Branch, or Tony G. Valencia (512) 224-2141 at the San Antonio Branch. Sincerely yours, For additional copies of any circular please contact the Public Affairs Department at (214) 651-6289. Banks and others are encouraged to use the following incoming WATS numbers in contacting this Bank (800) 442-7140 (intrastate) and (800) 527-9200 (interstate). This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) BULLETIN 5 Currency, Coin and Food Coupons FEDERAL RESERVE BANK OF DALLAS SCOPE This bulletin sets forth the general terms and conditions with respect to the currency, coin anri food coupon services provided by this Bank and the procedures that must be followed by depository institutions in their currency, coin and food coupon transactions with us. TABLE OF CONTENTS Section 1, DEFINITIONS AND REFERENCES Section 4, SHIPMENTS TO THIS BANK 4.00 Control of shipments 4.05 Preparation of currency shipments 4.10 Method of shipping currency 4.15 Preparation of coin shipments 4.20 Method of shipping coin 4.25 Entries to depository institution account 1.00 Reference to Bulletin 1 1.05 Federal Reserve Act 1.10 Department of the Treasury Circular No. 55 Section 2, GENERAL 2.00 2.05 Agreement to the terms of this bulletin Unnecessary shipments to and from this Bank 2.10 Receipt and distribution of currency and coin 2.15 Transportation policy 2.20 Money sacks 2.25 Packaging material 2.30 Access policy 2.35 Currency verification policy Section 5, MISCELLANEOUS CURRENCY AND COIN 5.00 5.05 5.10 5.15 5.20 Section 6, RISK OF LOSS 6.00 Outgoing transportation 6.05 Incoming transportation 6.10 Exceptions 6.15 Differences 6.20 Payment of losses and subrogation of rights of recovery by depository institutions Section 3, SHIPMENTS FROM THIS BANK 3.00 3.05 3.10 3.15 3.20 3.25 3.30 3.35 1-85 Counterfeit or altered Foreign Gold coin and gold certificates Mutilated currency Uncurrent coin Ordering currency and coin Standard units Closing hours and transportation schedules Method of shipment Advice of money shipment Postal limitations Verification of shipments Entries to depository institution account Section 7, FOOD COUPONS 7.00 7.05 7.10 i General Preparation of shipments Entries to accounts BULLETIN 5 FEDERAL RESERVE BANK OF DALLAS less than three-fifths of a whole coupon shall not be accepted for redemption. the Cash Department of the office of this Bank serving your institution should be contacted so that other shipment arrangements may be made. Only under unusual conditions and after approval has been granted by the office of this Bank serv ing your institution will a shipment of odd straps be accepted. 7.10 Entries to accounts Depository institutions should ship food coupons to the office of this Bank that maintains the ac count to which the proceeds are to be credited. Credit is given for redeemed food coupons as pro vided in this Bank’s time schedules after the coupons are received and bulk verified. (g) When submitting food coupons for credit, a Food Coupon Deposit Document, Form FNS-521, properly prepared according to the accompany ing instructions, must accompany the coupons. A mailing label (available from this Bank) must be affixed to the outside of the envelope or container used for shipping coupons to this Bank, along with the name and address of the shipping depository institution. Do not include food coupons with any other matter sent to this Bank. Food coupons must be shipped in sealed packages or containers strong enough to ensure receipt at this Bank in a reasonably secure condition. All Redempton Cer tificates (Form FNS 278) on hand at the time coupon shipments are prepared are to be machine listed, a copy of the listing attached to the front of the bundle, and forwarded along with the food coupons to this Bank. The total of the Redemption Certificates being forwarded is to be listed in the area provided on the Food Coupon Deposit Docu ment, Form FNS-521. Such credit is not final and will be subject to subsequent verification, and necessary reclama tion and adjustments for shortages, overages, or counterfeits. Credit for food coupons will be made to the account of the shipping depository institu tion, or to the account of the designated cor respondent depository institution. Agreement forms will be provided by this Bank upon request for those depository institutions that wish to designate a correspondent through which credit will be received. We furnish additional information about the col lection of food coupons on request. (h) Food coupons should be forwarded as a separate deposit, by the means ordinarily used in forwarding checks and other items and should be directed to the attention of the Cash Department, Food Coupons Section. The Form FNS-521 accom panying a food coupon deposit should show the total number and amount of each denomination of coupons enclosed. Neither this Bank nor the Department of Agriculture is liable for food coupons lost in transit to this Bank. Shipping depository institution may wish to insure food coupon shipments and to retain records to assist in substantiating insurance claims for coupons lost in transit. No provision is made by this Bank for reimbursing depository institutions for the cost of shipping food coupons. (i) In accordance with the regulations of the United States Department of Agriculture [7 CFR 278.5(a)] a portion of a food coupon consisting of 1-85 g
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