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Federal R eserve Bank OF DALLAS T O N Y J . SA LV A G G IO FIR S T V IC E PR E S ID E N T Ja nuary 1 4 , 1993 d a lla s , te x a s 75222 N o t i c e 93-17 TO: The Chief Executive O fficer of each me mber bank and others concerned in the Eleventh Federal Reserve District SUBJECT Revisions to the Payments S y s t e m Risk R e d uction Program D ETAILS Notice 92-103, dated October 28, 1992, contained an omission on page 47104 of Docket R-0721. A third column of footnotes, containing part of footnote eight and all of footnotes nine through twelve, was omitted from Ap pe n d i x 2— Modified Procedures for Measuring Daylight Overdrafts. ATTACHMENT Please attach the revised page 47104 to the end of Docket R-0721. The revised page supersedes the correction dated Ja nuary 8, 1993. MORE INFORMATION If you have any questions concerning this revision, please contact the DFI M oni tori ng Division at (214) 922-5584 or 922-5585. For additional copies of this revised page or this B a n k ’s notice 92-103, please contact the Public Affairs Department at (214) 922-5254. Sincerely, r For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastale (800) 592-1631, Interstate (800) 351-1012; Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) 47104 Federal Register / Vol. 57, No. 199 / W ednesday, October 14, 1992 / Notices By order to the Board of Governors of the Federal Reserve System, October 6,1992. William W. Wiles, Secretary o f the Board. Appendix 1—1991 Proposal for Measuring Daylight Overdrafts Opening Balance (Previous Day's Closing Balance^ Post a t the Opening ofF edw ire Funds Transfer System + 1—Government and Commercial ACH Credit Transactions + Advance Notice Treasury Investments + Treasury State arid Local Government Series (SLGs) Interest and Redemption Payments -♦-Treasury Checks, Postal Money Orders. Federal Reserve Bank Checks, and F.Z Clear Savings Bond Redemptions Deposited the Previous Night Post Throughout Business Day + / —Fedwire Funds Transfers + / —Fedwire Book-Entry Securities Transfers + / —Net Settlement Entries 1 Post a t 9:15 a.m. Eastern Time —Original Issues of Treasury Securities * +U.S. Treasury and Government Agency Interest and Redemption Payments Post a t 11 a.m. Eastern Time + / —ACH Debit Transactions Post a t 11 a.m. Eastern Time and Hourly Thereafter + / —Commercial Check Transactions. Including Return Items + Currency and Coin Deposits Post a t 2 p.m. Eastern Time -(-Processed Manual Letters of Credit 5 Post a t 2 p.m. Local Time -t-Same-Day Treasury Investments Post One Hour A fter Deposits Deadline (4-5 p.m. Local Time) + Same-Day Treasury Checks, Postal Money Orders, Federal Reserve Bank Checks, and EZ-Clear Savings Bond Redemptions Post at 5 p.m. Eastern Time + Processed Manual Letters of Credit + / —Same-Day ACH Transactions * 1 Net settlement entries would be pcsted one hour after settlement data are received by the Reserve Banks. 2 Original issues of Government agency securities are delivered as book-entry securities transfers and would be posted when the securities are delivered to the purchasing institutions. ■* Letters,of credit transactions are drawdowns of government grants. 4 Same-day ACH transactions include ACH return items and check truncation items. 6 In unusual circumstances if a depository institution does not have ready access to money markets and has demonstrated a need to make Post A fter the Close o f Fedwire Funds Transfer System + / —All Other Non-Wire Transactions (such as. Noncash, Government Coupons. TT&L Calls, Subscription for SLGs. Discount Window Loans and Repayments,5 and Currency and Coin Shipments.) EQUALS Closing Balance Appendix 2—Modified Procedures for Measuring Daylight Overdrafts 6 Opening Balance (Previous Day’s Closing Balance) Post a t the Opening o f Fedwire Funds Transfer System + 1 ^ Government and Commercial ACH Credit Transactions -t- Advance Notice Treasury Investments + Treasury State and Local Government Series (SLGs) Interest and Redemption Payments + Treasury Checks, Postal Money Orders, local Federal Reserve Bank Checks, and EZ-Clerk Savings Bond Redemptions in Separately Sorted Deposits Post at 2 p.m. Eastern Time + Processed Manual Letters of Credit 9 Post at 5 p.m. Eastern Time + Treasury Checks, Postal Money Orders, local Federal Reserve Bank Checks, and EZ-Clear Savings Bond Redemptions in Separately Sorted Deposits + Processed Manual Letters of Credit + 1 — Same-Day ACH Transactions 10 Post A fter the Close ofF edw ire Funds Transfer System •f / — All Other Non-Wire Transactions such as. Noncash, Government Coupons 11 TT&L Calls, Subscription for SLGs, Discount Window Loans and Repayments,1’ aud Currency and Coin Shipments.) EQUALS Closing Balance [FR Doc. 92-24890 Filed 10-13-92; 8:45 am] '- ‘-UNO CODE 6210-10-4* Post Throughout Business D ay + / — Fedwire Funds Transfers + / — Fedwire Book-Entry Securities Transfers +• / — Net Settlement Entries7 Post b y 9:15 a.m. Eastern Time + U.S. Treasury and Government Agency Book-Entry Interest and Redemption Payments f U.S. Treasury and Government Agency Matured Coupon and Definitive Securities Received before the Maturity Date Post Beginning a t 9:15 a.m. Eastern Time — Original Issues of Treasury Securities8 Post a t 11 a.m. Eastern Time + / — ACH Debit Transactions Post a t 11 a.m. Eastern Time and Hourly Thereafter + / — Commercial Check Transactions. Including Return Items + / — Check Correction Amounting to $1 million or more + Currency and Coin Deposits + Credit Adjustments Amounting to Si million or more will be posted when the securities are delivered to the purchasing institutions. 1 Letters of credit transactions are drawdowns 1 of government grants. 10 Same-dav ACH transactions include ACH return items and check truncation items. unanticipated payments, Reserve Banks may post the credit for a discount window loan when it is 11 U.S. Treasury and government agency matured granted, provided It is repaid 24 hours later. coupons and definitive securities received on or 6 The posting changes do not affect the overdraft after the maturity date. restrictions and overdraft measurement provisions 12 In occasional circumstances where a for nonbank banks established by the Competitive depository institution does not have ready access to Equality Banking Act of 1987 and the Board's money markets and must make unanticipated Regulation Y (12 CFR 225.52). payments. Reserve Banks may post the credit for a 1 Net settlement entries will b® posted on the next discount window loan when it is grafted, and post clock hoar approximately one hour after settlement the repayments 24 hours later. In addition, on an data are received by the Reserve Banks. exception basis and where a valid reason is given, 8 Original issues of Government agency securities an institution may be permitted to repay a loan before it would otherwise be due. are delivered as book-entry securities transfers and Post b y 1 p.m. Eastern Time +- Same-Day Treasury Investments
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