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Circular No. 6
Series of 1934.

FEDERAL RESERVE BANK
OF DALLAS

Dallas, Texas, May 1, 1934.

TRANSFER OF FUNDS

To the Member Bank Addressed:
This circular supersedes all previous circulars governing telegraphic transfers of funds,
and its provisions are subject to change without notice by the Federal Reserve Bank of Dallas.
Unless otherwise stated, the term “Federal Reserve Bank of Dallas” includes its El Paso,
Houston, and San Antonio Branches.
LEASED WIRE SERVICE

Telegraphic transfers of funds will be made for and paid to member banks only.
Transfers of bank balances in round amounts, that is, multiples of $100, will be made
over the Federal reserve leased wires. Such transfers will be made without cost to member
banks. The term “ bank balance” shall be construed to mean an accumulation of funds in an
established account maintained by a member bank with its Federal reserve bank or with an­
other member bank.
Transfers of proceeds o f individual collection items will not be made over the leased
wires.
The descriptive data in telegrams transferring bank balances must be limited to the
amount to be transferred, name of the member bank to receive credit, and when necessary,
name of its correspondent member bank and name of member bank with which request
originates.

The Federal reserve banks maintain, at large expense, a leased wire system over which a
heavy volume of important communications passes between Federal Reserve banks and
branches. Member banks are requested to cooperate with us in attempting to avoid overcrowd­
ing the leased wires by not making requests for telegraphic transfers of small amounts, or
transfers which can be made through the mails without inconvenience.
COMMERCIAL WIRES

The foregoing relates to the transfer of bank balances over the Federal reserve leased
wires. Federal reserve banks will also make transfers of funds for any purpose and in any
amount over the commercial telegraph wires. Such transfers will be accepted from and paid
to member banks only, but may be for the use of any bank, individual, firm, or corporation.
MAIL TRANSFER

Any member bank may request the Federal Reserve Bank of Dallas to debit its account
and credit the account of any other member bank in the Eleventh Federal Reserve District
with any collected funds on deposit to the credit of the requesting bank.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

T E L E G R A P H IC E X P E N S E A N D A D V IC E S O F

CR EDIT

No charge will be made covering the transfer over leased wires of bank balances in even
hundreds as defined in this circular to and from other Federal reserve banks for the account
of member banks located anywhere in the United States.
No charge will be made for telegrams between the Federal Reserve Bank of Dallas and
its branches covering transfers of any character within the Eleventh Federal Reserve District.
This bank will absorb the cost of telegrams received by it from member banks request­
ing transfers of bank balances in even hundreds for use of member banks.
Telegrams requesting transfers of any character other man bank balances in even hun­
dreds for use of member banks should be prepaid.
The cost of all telegrams transferring funds over the commercial telegraph wires will be
charged to the member banks for which the transfers are made.
Except where telegraphic advice of credit is requested, ordinarily this bank will send
such advices by mail, it being assumed that the receiving bank will have knowledge that trans­
fer is being made. All telegrams to member banks advising credit will be sent charges collect.
GENERAL

Requests for transfers must be made by letter, over an authorized signature, or by tele­
gram in American Bankers Association code, properly tested, in which latter case official con­
firmation should immediately follow by mail. It is our policy not to accept instructions over the
telephone to make transfers of funds.
Unless otherwise instructed, requests for transfers will be handled on date received, pro­
vided they reach us not later than the time shown by schedule herein.
It will be the uniform practice of the Federal Reserve Bank of Dallas to charge reserve
accounts of its member banks with transfers made under their instructions, which will be con­
strued as authority to make such charges; however, member banks may cover transfers by
drafts on this bank. Drafts drawn on banks other than the Federal Reserve Bank of Dallas
will be entered for collection and proceeds passed to member banks’ credit only when avail­
able for reserve and checking purposes. If it is desired that transfers be made only when
proceeds of such drafts become available, member banks will so indicate. Charges against
reserve accounts and payment of drafts drawn on this bank as mentioned herein will be
made only against adequate collected balances.
Member banks may readily have transfers made from one correspondent member bank
to another without affecting their own reserve balances. In such cases, instead of making
transfer requests of this bank accompanied by drafts drawn upon a correspondent member
bank, such correspondent member bank may be requested direct to make such transfers
through this bank, thus preventing delays incident to the collection of such drafts.
Member banks may request correspondent member banks in other districts to transfer
funds through the Federal reserve bank or branch to which such correspondents are attached.
The Federal Reserve Bank of Dallas will use due diligence and care in the transfer of funds
by telegraph to the receiving Federal reserve bank for credit to the account of the payee bank,
but will not be responsible for errors or delays caused by circumstances beyond its control.
Any member bank using the transfer service offered by the Federal Reserve Bank of
Dallas will be understood by such use to have agreed to the terms and conditions set forth
in this circular.
Yours very truly,

B. A. McKinney,
Governor.

FEDERAL RESERVE BANK
OF DALLAS

C L O SIN G

H O U R S F O R T E L E G R A P H IC T R A N S F E R S

C losing H ours

Head Office, Houston
or San Antonio
Branch
Saturday

Other Busi­
ness Days

Central Time
11:00 A.M.
1:00 P.M.
11:00 A.M.
1:00 P.M.
11:00 A.M.
1:00 P.M.
10:00 A.M.
1:00 P.M.
10:00 A.M.
1 :00 P.M.
11:00 A.M.
1:00 P.M.
11:00 A.M.
1:00 P.M.
1:00 P.M.
10:00 A.M.
1 :00 P.M.
10:00 A.M.
1:30 P.M.
11:30 A.M.
11:30 A.M.
1:30 P.M.
1:00 P.M.
10:00 A.M.
2:00 P.M.
12:00 M.
2:00 P.M.
11:00 A.M.
1:30 P.M.
11:30 A.M.
12:00 M.
10:00 A.M.
1:30 P.M.
11:30 A.M.
1 :30 P.M.
11:30 A.M.
2 :00 P.M.
12:00 M.
1 :30 P.M.
11:30 A.M.
1 :30 P.M.
11:30 A.M.
1 :30 P.M.
11:00 A.M.
1:00 P.M.
11:00 A.M.
1 :30 P.M.
11:30 A.M.
1:00 P.M.
10:00 A.M.
1 :30 P.M.
11:30 A.M.
1 :30 P.M.
11:00 A.M.
1 :00 P.M.
10:00 A.M.
1:00 P.M.
10:00 A.M.
2:00 P.M.
12:00 M.
1 :00 P.M.
11:00 A.M.
1 :30 P.M.
11:30 A.M.
2:00 P.M.
12:00 M.
1:30 P.M.
11:30 A.M.
2:00 P.M.
12:00 M.
2 :00 P.M.
12:00 M.
2:00 P.M.
12:00 M.

El Paso Branch
Saturday

Other Busi­
ness Days

Mountain Time
10:00 A.M.
12:00 M.
12:00 M.
10:00 A.M.
12:00 M.
10:00 A.M.
12:00 M.
9:00 A.M.
9:00 A.M.
12:00 M.
10:00 A.M.
12:00 M.
10:00 A.M.
12:00 M.
12:00 M.
9:00 A.M.
12:00 M.
9:00 A.M.
12:30 P.M.
10:30 A.M.
2:00 P.M.
11:00 A.M.
12:00 M.
9:00 A.M.
11:00 A.M.
10:30 A.M.
9:00 A.M.
10:00 A.M.
11:00 A.M.
12:00 M.
11:00 A.M.
11:00 A.M.
10:00 A.M.
10:00 A.M.
10:00 A.M.
9:00 A.M.
10:00 A.M.
10:00 A.M.
9:00 A.M.
9:00A.M.
12:00 M.
10:00 A.M.
11:00 A.M.
11:00 A.M.
10:30 A.M.
12:00 M.
12:00 M.
12:00 M.

For Transfers to Following
Federal Reserve Banks or Branches

2:00 P.M.
12:30 P.M.
11:00 A.M.
1:00 P.M.
1:00 P.M.
2:00P.M.
1:00 P.M.
1:00 P.M.
1:00 P.M.
12:00 M.
12:00 M.
12:00 M.
1 :00 P.M.
1 :00 P.M.
12:00 M.
12:00 M.
2:00 P.M.
12:00 M.
1:00 P.M.
2:00 P.M.
12:30 P.M.
2:00 P.M.
2:00 P.M.
2:00 P.M.

Atlanta
Baltimore (Branch of Richmond)
Birmingham (Branch of Atlanta)
Boston
Buffalo (Branch of New York)
Charlotte (Branch of Richmond)
Chicago
Cincinnati (Branch of Cleveland)
Cleveland
Dallas
Denver (Branch of Kansas City)
Detroit (Branch of Chicago)
El Paso (Branch of Dallas)
Helena (Branch of Minneapolis)
Houston (Branch of Dallas)
Jacksonville (Branch of Atlanta)
Kansas City
Little Rock (Branch of St. Louis)
Los Angeles (Branch of San Francisco)
Louisville (Branch of St. Louis)
Memphis (Branch of St. Louis)
Minneapolis
Nashville (Branch of Atlanta)
New Orleans (Branch of Atlanta)
New York
Oklahoma City (Branch of Kansas City)
Omaha (Branch of Kansas City)
Philadelphia
Pittsburg (Branch of Cleveland)
Portland (Branch of San Francisco)
Richmond
St. Louis
Salt Lake City (Branch of San Francisco)
San Antonio (Branch of Dallas)
San Francisco
Seattle (Branch of San Francisco)
Spokane (Branch of San Francisco)

NOTE: If any of the above cities adopt “ daylight saving” time during any part of the year, the closing
time shown in the above schedule will be automatically advanced accordingly during that period.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102