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F ed er a l R eser ve Ba n k o f D allas DALLAS, TEXAS 75222 C i r c u l a r No. 75-75 J u n e 11, 1975 REVISION OF PACES 1, 2, AND 3 OF BULLETIN 13 TO ALL BANKS AND OTHERS CONCERNED IN THE ELEVENTH FEDERAL RESERVE DISTRICT: Enclosed a r e r e v i s e d p a g e s 1 , 2 , and 3 of Bulletin 13, "Collection of C ash Items T h r o u g h the Regional C heck P r o c e s s in g C e n t e r . " T h e r e v i sion on p a g e s 1 an d 2 is th e deletion of p a r t of p a r a g r a p h ( b ) , Section 3, c o n c e r n in g a n y b a n k w h ich s e n d s to RCPCs a d a ily a v e r a g e of few er th a n 100 c a s h items p e r d a y . T h e r e v is io n of p a g e 3 is the d eletion of th e seco n d a n d t h i r d p a r a g r a p h s of Section 5. T h e s e p a r a g r a p h s no longer a p p ly a s r e t u r n items a r e h a n d le d in a c c o r d a n c e with Section 9 of Bulletin 8 an d S e c tion 5 of Bui letin 11. If you have a n y q u e s tio n s c o n c e r n in g th e s e r e v i s i o n s , p le a s e c o ntact a n y officer h a v in g r e s p o n s ib il ity o v e r th e c h e c k collection function at th e Head Office o r th e a p p r o p r i a t e B ra n ch o ffice r. Please file th e p a g e s in y o u r b i n d e r of R egulations a n d remove the c o r r e s p o n d i n g u n c u r r e n t p a g e s . T h e p a g e s rem oved from y o u r b i n d e r sh o u ld be d e s t r o y e d . Additional copies of th e a tta c h e d r e v i s e d p a g e s of Bulletin 13 will be f u r n i s h e d u pon r e q u e s t to th e S e c r e t a r y 's Office of th is B ank. Sincerely y o u rs , T . W. P la n t F i r s t V ic e P r e s i d e n t E n c lo s u re s This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) BULLETIN 13 FEDERAL RESERVE BANK OF DALLAS Section 1, GENERAL 2.20 Use of term “Participating Bank” This bulletin is directed to the appropriate mem ber and nonmember banks of the Eleventh Fed eral Reserve District and others concerned: The term “Participating Bank” refers to any member or nonmember bank shown in the cur rent supplements to this bulletin. 1.00 Collection contract 2.25 Use of term “Correspondent Bank” Regulation J and this bulletin prescribe the terms and conditions upon which we will handle cash items for collection at Regional Check Processing Centers. A “Correspondent Bank” in this bulletin means a member bank that a Participating Bank may designate by agreement for purposes of any set tlement necessitated by the Participating Bank’s use of the RCPCs. 1.05 Authority This bulletin is issued pursuant to the provisions of sections 4, 13, 14(e), and 16 of the Federal Reserve Act and the related statutes and in con formity with the provisions of related statutes and Regulation J. Section 2, DEFINITIONS AND REFERENCES 2.00 Definitions, references to Regulation J All terms defined in Regulation J and used herein have the meanings stated in that regulation. 2.05 Reference to Bulletin 1 Several definitions, rules of construction, and other provisions applicable to this bulletin are found in our Bulletin 1, General Provisions, and are incorporated herein by reference. 2.10 Reference to Bulletins 8,11, and 12 Except as may otherwise be specifically pro vided in this bulletin, all provisions of our Bul letins 8, 11, and 12 shall be applicable to cash items sent to Regional Check Processing Centers. 2.15 Use of term “Regional Check Processing Center” (RCPC) The term “Regional Check Processing Center” (RCPC) means the location of a facility operated by or under contract with the Federal Reserve Bank of Dallas or its Branches for the receipt and handling, pursuant to the provisions of this bul letin, of cash items to be presented or forwarded for collection to any Participating Bank. 2.30 Use of term “Relay Station” The term “Relay Station” means any location des ignated by this Bank for the receipt of cash items sent thereto, by any Participating Bank with per mission of this Bank, for transport to an RCPC and subsequent handling pursuant to the provi sions of this bulletin. Section 3, CASH ITEMS TO BE HANDLED 3.00 Requirements for handling by RCPCs RCPCs will handle as cash items all items which fulfill the below requirements and which are to be presented to a Participating Bank from any Fed eral Reserve Bank, from any member bank of another Federal Reserve District for account of such other Federal Reserve Bank, from any mem ber bank of this District, from a Participating Bank, or from a Correspondent Bank. Except as otherwise provided by this bulletin, all items sent for handling to RCPCs must meet the requirements of section 3 in our Bulletin 8 and must also: (a) Be preprinted or post-encoded with the rout ing symbol and suffix of the transit number of the paying bank in magnetic ink in E-13B type in the manner prescribed and at the location as signed by the ABA; (b) Be amount-encoded in the manner prescribed, and at the location assigned by the ABA; BULLETIN 13 FEDERAL RESERVE BANK OF DALLAS (c) Be separately sorted in separate cash letters of Government checks, postal money orders, food stamp coupons, and items drawn on a Par ticipating Bank;and bank’s reserve account. Each cash letter will be debited in full with subsequent adjustments for return items and errors. (d) Be properly endorsed as set forth in section 5 of our Bulletin 8. The following forms will be executed by Partici pating Banks for payment of cash letters: 3.05 Unsorted cash items, 2,000 items daily average Any member bank that has for collection a daily average of not more than 2,000 amount-encoded items drawn on Participating Banks and items which originate from outside the RCPC area and which are payable outside the city or town in which such bank is located, may, upon applica tion, be permitted to send all those items to this bank unsorted in one cash letter. Credit for items so sent, when received in time for presentment on the day of receipt of all items drawn on Par ticipating Banks included with such cash letter, will be given one business day after receipt. 3.10 Cash items received from a Correspondent Bank With respect to any cash item received from a Correspondent Bank under the terms of this bul letin, the relationships, rights, warranties, and liabilities existing between the Correspondent Bank and this Bank will be deemed to be the same, and the provisions of Regulation J and this Bank’s bulletins shall apply, as though the Cor respondent Bank had endorsed such items and sent them to the RCPC for its own account. 3.15 Cash items received at Relay Stations With the permission of this Bank, cash items may be sent to Relay Stations, and when received there, shall be deemed to have been received at the appropriate RCPC. Section 4, PAYMENT FOR CASH LETTERS 4.00 Time of payment Payment for each cash letter will be effected on the day of presentment by a debit to a member 4.05 Forms to be used (a) An Automatic Charge Authorization covering automatic charges to a member bank’s reserve account for items presented to it. (b) An Automatic Charge Authorization to be ex ecuted by a member or nonmember bank des ignating the reserve account of another bank to be charged for payment of items drawn on the former. Any member bank authorizing use of its reserve account in this manner shall be deemed to designate the bank executing the agreement its agent to send cash items to the clearing center and to receive return items. (c) A Letter of Authority to Deliver Cash Letters to a Processing Center to be used in conjunction with either of the previously named two agree ments. 4.10 Effects of new agreements An executed form of Automatic Charge Authori zation or a Letter of Authority to Deliver Cash Letters to a Processing Center shall effectively supersede and rescind all previous agreements of the same type and all previous agreements and authorizations concerning or related to the use of the automatic payment plan with regard to cash letters handled by an RCPC. 4.15 Termination of agreements Any party to a Letter of Authority to Deliver Cash Letters to a Processing Center may at any time give written notice of termination to the other parties. Notice of termination by this Bank will terminate the agreement as of the time stated in the notice. Notice of termination by any other party will terminate the agreement upon the later time of receipt of the notice by this Bank or the time stated in the notice. Termination shall not affect this Bank’s rights to make all account FEDERAL RESERVE BANK OF DALLAS entries required by the automatic payment plan relating to any cash letter dispatched prior to the effective date of termination. Section 5, RETURN ITEMS Cash items received by the respective paying banks to which they have been presented or for warded hereunder are to be returned, if unpaid, BULLETIN 13 in accordance w ith the provisions of s e c tion 210.12 of Regulation J, and subject to in structions contained in section 9 of Bulletin 8 and in Bulletin 11. If a cash item is returned without entry, refund will be made to the returning bank and charges will be made to the sender only if the sender specifically authorizes us to do so.
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