View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

F ederal

reserve

Ba n k

DALLAS, TEXAS

of

D allas

75222
Circular No. 82-71
June 17, 1982

WIRE CHARGEBACKS FOR LARGE DOLLAR
ADJUSTMENTS AND RETURN ITEMS

TO ALL FINANCIAL INSTITUTIONS IN THE
ELEVENTH FEDERAL RESERVE DISTRICT:
The requirement of the Monetary Control Act of 1980 that the Federal
Reserve System explicitly price float has prompted the initiation of a number of
programs prior to implementation of float pricing. The objective of these programs
is to adjust our operational procedures, where feasible, to minimize the impact of
float pricing on our customers.
Beginning July 19, 1982, new procedures for
processing interdistrict return items and cash letter adjustments of $50,000 and over
will be instituted nationwide. In both cases, a wire credit/charge procedure will be
initiated through the Federal Reserve Communications System.
Presently, interdistrict return items are accepted for immediate credit,
although they often cannot be presented to institutions across Federal Reserve
territories for at least one or two days. Immediate credit on return items will still
be offered, but the wire chargeback procedure will enable the receiving Reserve
office to debit the endorsing institution's account on a same-day basis.
The
originating Reserve office will initiate such a wire chargeback only after an item has
been received. The wire chargeback is not intended to substitute for a payor bank
initiating a normal advice of nonpayment for an item of $2,500 or more.
The wire chargeback or advice of interdistrict cash letter adjustments
will be handled as follows:
- A cash letter adjustment advice will be sent
to you on the same day the reserve or clearing
account balance is debited or credited. This
adjustment notice will be your source document
for initiating accounting entries.
- In addition, you will receive telephone notification
of each adjustment the same day a transaction is
posted to your account.

Banks and others are encouraged to use the following incoming W A T S numbers in contacting this Bank:
1-600-442-7140 (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)

- 2 -

- A standard BAI cash le tter adjustment confirmation
will also be forwarded to you. Copies of the adjust­
ment forms, TR-154 and TR-155 are enclosed for
your information. This duplicate of the original
entry will be stamped as "CONFIRMATION COPY".
The confirmation box on the lower right of the ad­
vice will include the date of the original adjustment.
If you have any questions concerning the new procedures, please contact
Donald L. Jackson at the Head Office, (214) 651-6118; Robert W. Schultz at the El
Paso Branch, (915) 544-4730; Vernon L. Bartee at the Houston Branch, (713) 659-4433;
or John A. Bullock at the San Antonio Branch, (512) 224-2141.
Additional copies of this circular will be furnished upon request to the
Department of Communications, Financial and Community Affairs, Ext. 6289.
Sincerely yours,

William H. Wallace
First Vice President

□

WE BEQUEST CREDIT
TO OUR ACCOUNT

YOUR
□

□

WE DEBIT
YOUR ACCOUNT

DATED

D E PO SIT

CO D E NBR

A C C O U N T NBR

REF NBR
□

E rr o r In A d d itio n

II]

B u ndle Recap

DAT E

AMOUNT
$
MAKER

TOTAL

L ) Ch eck A m o u n t

L IS T ED

$

D Photo A ttached

$

BETW EEN

B UN DLE T O T A L

S H O U L D BE

$

$

Q Check(s) Listed
N o t Enclosed

A ND

Y O U R I D E N T IF I C A T I O N NBR

□

CASH L E T T E R

G

B u n dle Missing

Q
ENDORSER

DRAWN ON

COM M E NT S

O N on ca sh Item
( A ttached )
P R E P A R E D BY

$
IN T E R N A L R E F E R E N C E

H
JO

CH E C K DAT E

MAIL

E R R O R IN C / L S E N T D I R E C T T O

TO
<

>

(

)

1110-0003-8
FEDERAL RESERVE BANK OF DALLAS
DALLAS, TEXAS

ACCOUNT
OF

T R - 1 5 5 (R ev.2-81) B4

WE REQUEST DEBIT
TO OUR ACCOUNT

□

YOUR
□

D E PO SIT

□

CASH L E T T E R

□

WE CREDIT YOUR
ACCOUNT

REF NBR

LJ E rr or

DATED

C O D E NBR

A C C O U N T NBR

CD

in A d d itio n

DATE

AMOUNT

^

$
M A K ER

Q
Uj

B un dle Recap

TOTAL

LJ C h e ck A m o u n t

L IS T ED

$

□

$

I 1 Bu n dle Received
F re e

BETW EEN

BUNDLE TO TAL

$

$

AND

Y O U R I D E N T IF I C A T I O N NBR

P h o to A ttached

□

ENDORSER

S H O U L D BE

Ch eck(s) Received
F re e

ec
o
DR AWN ON

CO M M E NT S

$
INTERNAL REFERENCE

CHECK DAT E

P R E P A R E D BY

MAIL

E R R O R IN C / L S E N T D I R E C T T O

TO

<

>

(

)

ACCOUNT
OF

T R - 1 5 4 (Rev. 2-81) B4

1110-0003-8
FEDERAL RESERVE BANK OF DALLAS
DALLAS, TEXAS