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F ederal


Ba n k





Circular No. 82-69
June 11, 1982


During the past ten years, the F ederal R ese r v e System has taken
a number o f ste p s to improve the n ation ’s p aym ents m echanism .
Many o f
th e se ste p s involved making changes to
R e serv e Banks’ check
c o lle c tio n
p o lic ie s and procedures. T hese changes w ere made to reduce the am ount o f
tim e it tak es to clear a check, b e n e fitin g the payee and the c o lle c tin g bank.
E f f e c t iv e August 1, 1982, m ost
F ederal R e serv e
Banks will adopt
a uniform presen tm en t tim e o f 12:00 noon
for c ity ite m s. P resen tin g ite m s
up to 12:00 noon will enable R e se r v e Banks to o f fe r la te r deposit deadlines,
thus reducing the am ount o f tim e it tak es to clear ch ecks.
B asically, this
im provem ent will result from a com bination o f la te r p resen tm en t and a
sign ifican t restructuring o f the S y s t e m ’s Interdistrict Transportation Netw ork.
Adopting a 12:00 noon p resen tm en t will enable R e serv e Banks to
c o lle c t nearly all c ity ite m s on the day they are r e c e iv e d . This is e sp e cia lly
im portant during peak volum e periods, or when w eath er or equipm ent problems
are e xp erien ced .
A 12:00 noon p resen tm en t is also c o n siste n t with the
R ese r v e S y stem 's previously s ta t e d o b je c tiv e s o f m atching cred it availability
w ith c o lle c tio n ex p e r ie n c e .
The tim e o f r e c e ip t for c ity ite m s has enabled us to m e e t the
regularly scheduled clearing e x c h a n g e s w ithout incurring sig n ific a n t flo a t at
all o f f i c e s in the E leventh D istr ic t. H ow ever, it is possible that conditions
may change in one or more o f our o f f i c e s which m ight n e s s ita te p resen tm en ts
as la te as 12:00 noon.
We will advise you in advance if any changes are
Q uestions involving this 12:00 noon p r e sen tm e n t may be d ir ec te d at
the Head O ff ic e to Jack A. C lym er, (214) 651-6337; a t the El Paso Branch to
Robert W. Schultz, (915) 544-4730; at the Houston Branch to Vernon L. B artee,
(713) 659-4433; or a t the San Antonio Branch to John A. Bullock, (512) 2242141.
Additional c o p ies o f this circular will be furnished upon request to
the D ep artm en t o f C om m unications, Financial and C om m unity A ffairs, Ext.
Sincerely yours,

William H. W allace
First Vice P resident
Banks and others are encouraged to use the following incoming W A T S numbers in contacting this Bank:
1-800-442-7140 (intrastate) and 1-800-527-9200 (interstate). For calls placed locally, please use 651 plus the
extension referred to above.

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