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FED E R A L R E S E R V E BA N K O F DALLAS S t a t io n K , D a lla s , T e x a s 7 5 2 2 2 Circular No. 84-44 March 22, 1984 TO: To all depository institutions in the Eleventh Federal Reserve District ATTENTION: Chief Executive Officer SUBJECT: Slip sheet to Regulation J — Collection of Checks and Other Items and Wire Transfer of Funds SUMMARY: The Board of Governors of the Federal Reserve System has issued an amendment, in slip sheet form, to its Regulation J. The new slip sheet should be inserted in Volume 2 of your Regulations Binder. ATTACHMENTS: Slip sheet MORE INFORMATION: Robert L. Whitman, (214) 698-4357 at the Head Office; Robert W. Schultz, (915) 544-4730 at the El Paso Branch; Vernon L. Bartee, (713) 659-4433 at the Houston Branch; or John A. Bullock, (512) 224-2141 at the San Antonio Branch ADDITIONAL COPIES: Public Affairs Department, Extension 6289 Banks and others are encouraged to use the follow ing in com ing W A TS numbers in c ontacting this Bank: 1 - 8 0 0 -4 4 2 - 7 1 4 0 (in trastate) and 1 - 8 0 0 -5 2 7 - 9 2 0 0 (interstate). For calls placed locally, please use 651 plus the extension referred to above. For Telex calls, please use 7 9-1 6 8 8. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) Board of Governors of the Federal Reserve System Amendment of Regulation J Collection of Checks and Other Items and Wire Transfers of Funds February 1984* 1. Effective April 2, 1984, section 210.9(a) is amended to read as follows: (a) Cash items. (1) A paying bank be comes accountable for the amount of a cash item received directly or indirectly from a Reserve Bank, at the close of the paying bank’s banking day on which it receives3 the item if it retains the item after the close of that banking day, un less, prior to that time, it pays for the item by— (i) debit to an account on the Re serve Bank’s books; (ii) cash; or (iii) in the discretion of the Reserve Bank, any other form of payment. (2) The proceeds of any payment shall be available to the Reserve Bank by the close of the Reserve Bank’s bank ing day on the banking day of receipt of the item by the paying bank. If the banking day of receipt is not a bank ing day for the Reserve Bank, pay ment shall be made on the next day that is a banking day for the Reserve Bank by the close of the Reserve Bank’s banking day. A paying bank that closes regularly on a weekday which is a banking day for the Re serve Bank shall either pay on that day by the close of the Reserve Bank's banking day for cash items that the Reserve Bank makes available to the paying bank on that day, or compen sate the Reserve Bank for the value of the float associated with the items in accordance with procedures provided in its Reserve Bank’s operating circu lar; in such circumstances, the paying bank is not considered to receive the item until its next banking day. * A com plete Regulation J, as am en d ed effective A pril 2, 1984. consists of— * the pamphlet dated September 1981 (see inside cover) and * this slip sheet. 1
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