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FEDERAL RESERVE BANK OF DALLAS F IS C A L A G E N T O F TH E U N ITE D S T A T E S Dallas, Texas, September 24, 1946 To A ll Qualified Paying A gents in the Eleventh Federal Reserve D istrict: Treasury Department Circular No. 750, Revised, states that each pay ing agent shall be entitled to receive reimbursement for its services in paying savings bonds on the basis of bonds paid and forwarded to the Federal Reserve Bank or branch each calendar quarter. In order to follow that procedure, it is necessary to defer the preparation of statements of amounts due paying agents until approximately the 15th of the month following each quarter to assure that all transmittal letters dated within the quarter have been received in this bank or one of its branches. In order to effect prompt settlement and to enable paying agents to more readily reconcile the statements of amounts due for paying bonds, the Treasury Department has authorized this bank to determine the amount of reimbursement due each paying agent for services rendered on the basis of the bonds received during each quarter rather than on the basis of bonds forwarded by paying agents during each quarter. Under the new procedure, which will become effective with the quarter ending September 30, 1946, claims for reimbursement will be prepared and for warded to paying agents for their approval approximately ten days earlier than has been possible heretofore. Yours very truly, R. R. GILBERT President
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