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F ederal reserve Ba n k DALLAS. TEXAS of Dallas 75222 Circular No. 82-69 June 11, 1982 UNIFORM 12:00 NOON PRESENTMENT FOR CITY ITEMS TO ALL DEPOSITORY INSTITUTIONS IN THE ELEVENTH FEDERAL RESERVE DISTRICT: 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 required. 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. 6289. 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. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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