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lilli'-1 un• ~Ulllllin 11®


As All-Electronic ACH nears:

St. Louis Fed
Offers On-site

Will you be ready?


now most everyone is prob-

ably familiar with the Federal
Reserve's goal to have all commercial ACH participants electronically
connected to its ACH processing
centers. After receiving supportive
comments on the Federal Reserve's
All-Electronic ACH proposal, the
Federal Reserve Board approved a
plan to convert all off-line ACH participants that send or receive commercial ACH items to electronic
delivery by July 1, 1993.

This plan includes significant
price increases in mail, messenger
and courier delivery fees starting in
January 1992 to reflect the Fed's
cost of labor-intensive tasks such as
preparing magnetic tapes and paper
listings for off-line delivery. Off-line
fees are expected to increase again
in January 1993 as the cost for offline services is spread over fewer
ACH participants. Off-line ACH participants are encouraged to convert
to electronic delivery sooner rather
than later.
While the July 1, 1993, deadline
may seem far away, off-line delivery
fee increases are right around the
corner. By converting to an electronic connection soon, you'll benefit from significant cost savings and
gain access to many other electronic Fed services including Funds
Transfer, Savings Bonds, Treasury
Tax and Loan and select Check
When considering the move to
automated delivery of ACH
payments, your financial institution
may choose installation of an electronic connection (Fedline, FEDLink
Federal Reserve Bank of St. Louis

Bulk Data, or FLASH-Light) or
delivery of your ACH payments to a
data processor. An account executive will be happy to visit your institution to discuss your delivery
alternatives in detail and provide
you with a cost analysis based on
your financial institution's volume
and Fed fees.
The St. Louis Fed is committed to
helping all off-line ACH participants
implement an ACH delivery solution
that meets your needs and requirements. For further assistance,
please contact our Customer Support unit at 1-800-333-0869 or
The time to start thinking about
your ACH delivery alternatives is

I n support of the All-Electronic
ACH initiative, Fed St. Louis will
begin providing ACH-only Fedline
training at customer sites. This
specialized training session is
designed for financial institutions
that wish to install Fedline primarily
for ACH processing. The training
will also include information on daily start-up and shut-down procedures and, if you subscribe to
them, MICR services. For only $300,
financial institutions can be trained
on Fedline in their daily work environment. If you are interested in
signing up for on-site Fedline training, please contact your account executive or Customer Support tollfree at 1-800-333-0869 or

All-Electronic ACH Update
We continue to monitor progress towards the Federal Reserve's objective to convert off-line ACH endpoints to electronic connections. The following status report
refers to the number of off-line ACH endpoints that converted to an electronic connection in the second quarter. Congratulations to the Missouri/Illinois zone for the
highest percentage of conversions!



Kentucky /Indiana






501 *








*Number of commercial ACH endpoints left to convert in the Eighth District before the All-Electronic ACH
sunset date.

Deleting Files
Fro111 Flexport


PC Configurations
Affect Fedline®


you know that your PC's
configuration can affect Fedline?
Sometimes this can lead to various
hardware difficulties. By following
the suggestions below, you can
avoid time-consuming problems.
After installing Fedline, do not
modify the AUTOEXEC.BAT or CONFIG.SYS files used by Fedline. If it is
necessary to make changes to
either of these files to run other
programs on your PC, please contact Electronic Access Support
(EAS) first to discuss the modifications. Commands added to these
files can load programs or devices
into memory, reducing your free
memory to less than the 550K requirement. If there is not sufficient
memory available, problems such as
fatal errors and PC lock-ups will
eventually occur.
CONFIG.SYS files may be modified
when loading new software or adding hardware to your system. To
detect modification to these files,
view them before and after software
installation or service to determine
if the files have changed.
To view the files on your screen
use the TYPE command from
the DOS C: > prompt.

press [Enter].

press [Enter] .
If you have any questions about
setting up or modifying your
PC configurations, call the EAS
hotline at 1-800-333-0861 .
Federal Reserve Bank of St. Louis

your institution copies incoming
ACH and MICR files onto your PC's
hard drive (referred to within Fedline
as device type "IDENTIFY"), your
files are copied to the Fedline
Flexport directory.

Protect Your PC
From A Virus
Has your computer ever caught a
virus? A computer virus is a set of
instructions inserted into programs
which can damage or destroy programs and data. Often, computer
viruses are introduced into computer systems when software from
unknown sources are run on a
system. Most viruses replicate
themselves within the computing
system, spreading from program to
Good security is essential to protect your hardware, software and
data from a virus. You can decrease
the risk of a virus infection by:


educating your users about
using only licensed programs on the computer
system; and
isolating critical systems
from outside programs
such as software downloaded from public bulletin
boards, software used offsite (at home) which may
have been infected, and
software that was not obtained from the original

Files are usually copied to the
Flexport directory for uploading
purposes but are not automatically
deleted during Fedline cycle date
roll-over. If you do not delete these
files, they will accumulate and reduce disk space which can cause
fatal errors and other problems during Fedline processing.
File maintenance of the Fedline
Flexport directory is very important;
in fact, your daily Fedline procedures should include deleting files
from the Flexport directory. We suggest the following procedures:
At the "C" prompt type in
C\ > cd/Flexport and press
[Enter]. You are now in the
Flexport directory of Fedline.
To print a listing of all files,
enter DIR >LPTI and press
[Enter] .
To delete files, enter the command (DEL] , space, and the
name of file to be deleted
(e.g., DEL AH0627AO.UDT).
Refer to your DOS manual for
additional instructions on file

IBM/ContpuCont Offer Significant
Thinking about purchasing a new personal computer for Fedline applications?
IBM recently informed the Federal Reserve Bank that it is offerin_g a PC purchase program in cooperation with CompuCom Sys~ems to pro~1~e IBM PS/2
models 70 and 80 and peripherals at significant savmgs. In add1t1on, from now
until December 31, 1991, IBM is also offering a trade-in allowance on certain
IBM, Apple and Compac PCs. For a free brochure detailing the IBM/CompuCom offer, please contact your account executive at 314-444-8680 or Electronic Access Support at 1-800-333-0861 .

XT Support
Support for XT-type computers (personal computers with 8088 or
below processors) was originally
built into Fedline to ease the transition from FEDNET and to allow
customers to fully depreciate their
machines. With the support, many
customers were able to convert to
Fedline in a more timely manner
because they did not need to immediately purchase new hardware.
Since its introduction in 1989,
Fedline has continued to grow-in
both services offered and complexity. We learned in our recent Fedline
Customer Satisfaction Research
questionnaire that customers using
XT-type machines were less satisfied with Fedline than customers
using other PC configurations
because of processing speed and
equipment reliability. Also,
customers answering the research
questionnaire expressed interest in
adding more functionality and
faster processing to future versions
of Fedline software. Further, we
have seen a shift in the type of personal computer used for Fedline.
Many XT-type Fedline customers
have upgraded their hardware and
new Fedline customers are starting
out on a higher-level machine.
For these reasons, the Federal
Reserve is planning to discontinue
support for XT-type machines after
Fedline version 2.3. This means that
customers wishing to take advantage of new service offerings and
features would need to upgrade to
a higher level of approved hardware
to utilize future versions of Fedline.
A conversion timeline is being
discussed to allow customers to
plan for the transition from XT-type
machines. We envision support for
XT-type machines to continue until
mid-year 1993, allowing for the
completion of the budgeting and
purchasing processes. If you have
questions about Fedline certified
hardware, or XT-type personal computer support, please contact your
account executive or Customer Support at 1-800-333-0869.
Federal Reserve Bank of St. Louis

Franklin, Murphy and Fedline®Security:
What's the Connection?


of the most frustrating experiences for Fedline users is to
realize too late that their financial
institution's only Fedline Local
Security Administrator (LSA) is on
vacation, at lunch or (worse yet)
just quit! Like Murphy's Law
decrees, this will undoubtedly occur
right after your Funds operator has
suspended his/ her Local User ID.
As we learned in Fedline LSA
training, having a trained backup
LSA will help keep this situation
from rearing its ugly head just

when you least expect it.
Take time to ensure that your institution has adequate coverage for
Local Security Administration and
other Fedline operations. Train
backup staff to ensure smooth
operations when key Fedline
operators are not available to conduct daily operations.
Ben Franklin knew Murphy's Law
only too well when he formulated
the adage "an ounce of prevention
is worth a pound of cure."

Same-Day Settlement Schedule
The revised Same-Day Settlement implementation schedule for the conversion
of 3 7138 wire types is as follows:
ACH, TT&L and Savings Bonds will be converted on September 20, 1991;
Check Collection, Noncash Collection, Net Settlement and Miscellaneous
Transactions will be converted on November 22, 1991.
An announcement to all depository institutions was recently sent to notify
them of changes. If you have questions regarding the revised schedule, please
contact one of the following individuals:

St. Louis &
Little Rock . ..... Dan Horton, Customer Support ...... .. ... 1-800-333-0869
Louisville .... . . . Gerard Mattingly, Accounting .............. 502-568-9292
Memphis ....... Cleo Owens, Accounting .... . ..... 901-523-71 71, ext. 342.

Contributors to this issue include:
Frank Blacharczyk, Jackie Brooks, Sarah Buescher,
Max Butler, Marilyn Corona, Susan Hackney,
Jeff Hatfield, Nancy Kroll, Mary Kuni,
Maria Maravelas, Tony Montgomery,
Kevin O'Connell, Kathy Paese, Lynn Shiang,
Marcia Sims and Gloria Harlan.

Is MICRLine

Capture Right
For You?

Statement of
Account Now

eserve account statements have
been available electronically through
the Electronic Information Services
(EIS) application for several years.
Statements delivered via EIS are sent
in "print display" format and can be
printed on the Fedline printer or stored
on your PC's hard disk. Now you have
another option.
Your reserve account statement
can now be received in a machinereadable format through your electronic connection for automated
uploading and posting. The machinereadable statement is delivered to
Fedline during Session #3-File Traffic.
The file can be written to either your
PC's hard disk or a diskette, and then
uploaded to your in-house system for
automatic posting of the transactions.
This file cannot be printed on your
Fedline printer.
The machine-readable Statement of
Account is available as early as 6:00
a.m. CST. We will provide you with a
copy of the file layout specifications to
program your in-house computer to
process the file . You will also need to
configure your Fedline terminal to
recognize the new format. There is no
fee for this new service; however, if
you elect to continue receiving your
Statement of Account two ways (both
over EIS and in machine-readable format during Session #3) , there is a fee
of $20 per month.
If you would like more information
about receiving your reserve account
statement in the new machine-readable format, please contact Nancy Kroll
toll-free at 1-800-333-0810, extension
8 708, or 314-444-8 708.
Federal Reserve Bank of St. Louis

Fedline®2.3 On
The Way
In the first quarter, 1991, issue of
Electronic Currents we previewed the

new features and enhancements in
Fedline version 2.3. In the next few
months you should receive Fedline
version 2.3, which will further improve
your processing capabilities.
The installation documentation for
Fedline version 2.3 differs depending
on whether you are currently using
version 2.1 or 2.2. For those financial
institutions that did not receive version
2.2, it is possible to convert from version 2.1 to version 2.3 directly.
If you are unsure of which version
you are currently using, press the
[ALT] and [V] keys simultaneously
while in Fedline. The version you are
using will be displayed on the screen.
If you have received version 2.2, but
have not yet installed it, please contact EAS at 1-800-333-0861 to set an
installation date.

H ave you considered the Fed's
MICR line capture service? MICR line
capture service is a payor bank service
option that provides early and direct
access to account information while
streamlining operations. Here's how it
works: For each low- and high-speed
check item sent to the Fed for processing, we read and capture the MICR line
information and deliver it electronically
or on magnetic tape. The captured
data includes customer account
numbers, auxiliary numbers on commercial checks, ABA routing transit
numbers, check numbers and dollar
By incorporating MICR line capture
in your daily operations, you'll be able
to offer enhanced cash management
services to your corporate customers
while improving check processing efficiencies in your own operation. Can
MICR line capture service work for
you? Here's what our customers say:
"Having MICR Line has greatly
reduced the amount of time it
takes us to process our cash letter, freeing both the proof machine and mainframe to continue
with daily procedures. MICR Line
is great! We wouldn't trade it for
the world." Debbie Reifschneider,

D.P. Manager, 1st National Bank
of Waterloo

Payroll Savings
Bonds via Fedline®
Fedline users will soon be able to submit orders for payroll savings bonds to
the Fed via Fedline.
In an effort to simplify the issuance
of payroll bonds, the St. Louis Savings
Bonds Unit has developed BOS (Bond
Ordering System), a PC-based software
package that can be used to create
bond orders which may be transmitted
in the same manner as Regional Delivery System (RDS) Savings Bond orders.
The software will be available to finan cial institutions in late August, free of
charge. Inquiries should be directed to
Jeff Hatfield, 3 I 4-444-8 707; or Michele
Bollinger, 314-444-8 705, of the
St. Louis Savings Bond Unit.

"MICR Line is a fast and efficient
means of data capture. It interfaces to our application software
and memo posts to our customer
accounts early in the day." Mary

Lou Smith, V.P. and Cashier, First
National Bank of Callaway
If you haven't considered the Fed's
MICR line capture service, or thought
maybe it wasn't for you, perhaps it's
time to take another look. Regardless
of your financial institution's size, a
MICR line capture service can be
customized to meet your needs. For
more information on how you can
take advantage of this valuable service,
contact your account executive at
1-800-333-0869, or Gary Auer or Frank
Blacharczyk at I-800-333-0810,
extension 8463.

Wire Fraud


has been an alarming growth
in the number of wire fraud attempts
recently. Two major schemes have occurred in almost every Fed District.
Have you heard about the "Philippines" letter? Here's how it works: A
financial institution receives a letter
from one of its "customers" which
asks for a percent of an account's
balance to be wired out, "rush" to the
Philippines and indicates the customer has lost "tract" (misspelled in
every letter so far) of the account
statement. The forged signature is very
good (probably because the perpetrator has access to the customer's check)
and the real customer is usually someone in the medical profession (doctor, nurse, clinic, etc.) or remembers
having sent a check to a charity in the
Then there's the "FDIC/ FBI" scam: A
very convincing and persuasive
perpetrator calls a financial institution and its corporate customer to
collect information. In some cases, the
financial institution or the corporate
customer has supplied information
about procedures, names of personnel,
and even codes! Then the perpetrator
calls the corporate customer and
poses as an employee of a
regulatory agency (such as the FDIC

or FBI) investigating a dishonest
employee of the financial institution, or
conducting security tests on the wire
system. Then, the perpetrator poses
as the customer and calls the finan cial institution. Using the code number
supplied from the corporate customer,
he/ she asks for a transfer of funds
from the customer's account. The cor-

porate customer has been instructed by
the perpetrator to confirm the transaction when the financial institution
calls back for verfftcation.
There are a number of things a
financial institution can do to help prevent these losses:
• Look for the Fed's wire fraud
broadcasts on your Fedline
printers. Share the Broadcast
messages and this article with
everyone at your institution.

(continued on page 7)
Federal Reserve Bank of St. Louis

An Overview of EIS Reports
The Electronic Access Support (EAS) hotline has received quite a few calls lately
about how EIS works on Fedline and what reports are available. Below is a brief
description of the data included in each EIS report that is currently available.
Statement of Account-Includes a summary of your account with the Fed. It summarizes your account activity from the prior day and includes the daily position
TT&L Call Notification-Provides immediate or ceiling calls, pending calls due,
and future day calls along with dates and amounts for your financial institution's
(Fl) TT &L account.
TT&L Correspondent Withdrawal-Provides TT&L charges for each respondent
RTN and the due date of future calls for each respondent.
Advice of Credit Availability or Mixed Cash Letter Advice- Advises a finan cial institution of checks drawn on another FI and corresponding credit passed on
to the depositing FI.
Auto Charge Advice-Advises financial institutions of checks presented to them
and the corresponding charges to their reserve account.
Payor Account Totals- Provides summaries of checks presented for specific corporate customers.
Summary of Automatic Charges for Return Items-Advises a FI of checks
returned and corresponding charges passed on to the depositing FI.
If you would like to sign up for EIS on Fedline or gain access to additional reports,
please call EAS toll-free at 1-800-333-0861 or 314-444-8444, extension 589.

Many Thanks
We'd like to take this opportunity to recognize the following institutions that volunteered
their time, patience and personnel to assist EAS in supporting recent contingency tests:
Citizens First State; Arkadelphia, AR
First National Bank; Fort Smith, AR
First Jacksonville Bank & Trust Co.; Jacksonville, AR
First Commercial; Little Rock, AR
First Exchange Bank; Little Rock, AR
Twin City Bank; North Little Rock, AR
Bank of McCrory; McCrory, AR
Bank of Ozark; Ozark, AR
Citizens Bank; Van Buren, AR
Magna Bank; Belleville, IL
First National Bank; Carlyle, IL
Fairfield National Bank; Fairfield, IL
First National Bank; Robinson, IL
First National Bank; Vandalia, IL
Old National Bank; Evansville, IN
State Bank of Salem; Salem, IN
Trans-Financial Bank; Bowling Green, KY
Citizens Fidelity; Louisville, KY
First National Bank; Louisville, KY
Boone County Bank; Columbia, MO
Central Bank; Jefferson City, MO
City National Bank; Moberly, MO
Central Bank Lake of the Ozarks; Osage Beach, MO
American Bank; St. Louis, MO
Boatmens Bank; St. Louis, MO
Roosevelt Bank; St. Louis, MO
Southwest Bank; St. Louis, MO
National Bank of Commerce; Memphis, TN.

Bond OrdersUse Caution!
QUESTION: I recently upgraded to
Fedline version 2.2 and noticed
that the functions for recurring
templates and recurring batches
no longer appeared on my menu.
Is there some way I can access
these options?
ANSWER: To access the recurring
options for Funds Transfer and ACH
on Fedline version 2. 1, you need the
supervisory level of access for your
local user ID. On Fedline version 2.2,
those options are only available to
those Fedline users who have been
designated with the assistant supervisory access level.
Contact your Local Security Administrator (LSA) to determine if you
should have access to the recurring
options for Funds and ACH. Your local
LSA must update your user profile to
assign you Assistant Supervisory access for the Funds Transfer and ACH
applications. After the change has
been made and you sign on, these options will appear on your menu.

QUESTION: Can I request totals
for an individual customer
through the Accounting Summary
balancing report?
ANSWER: No. You can only request
totals for an individual business code.

re-synchronization? (Y /N):" field, enter
"Y" and press [ENTER]. The screen
will respond, "Are you sure? Has the
FRB authorized resync of session#?",
enter "Y" and press [ENTER]. The
screen will respond, "You may dial
FRB Now."

Contingency Testers
The Federal Reserve System had
originally scheduled a contingency test
for this May, but due to special circumstances, this test was later cancelled. The System is planning to test during a weekend later this year and will
need several financial institutions to
participate to ensure we test all of the
electronic connection types we offer.
While the idea of going to work for a
Saturday contingency test may not
seem very appealing at first, it can be
very beneficial for your institution in
the long term. Here's why:
■ If your institution has not formed
a contingency plan yet, testing provides an opportunity to begin thinking
about the procedures you need to put
in place in the event of an emergency.
■ These tests give you an opportunity to see how the computer system
operates in an emergency situation,
and how your institution would be

QUESTION: Periodically, when I
establish a host communications
session, Fedline gives the following error message: "XI I SO-Session Synchronization Failure."
How can I continue after receiving
this error message?

■ If any operational changes are
implemented during the test, you will
be more aware of these changes and
the possible effects on your institution.

ANSWER: From the Host Communi cations screen, hit [ESC] to continue
and re -enter your user-ID and password. Tab to the "Do you want to force

If you are interested in participating
in a contingency test, please contact
Susan Hackney, Electronic Access
Support, toll-free at 1-800-333-0861
or 3 I 4-444-8 711.
Federal Reserve Bank of St. Louis


"Uncollect Bond Orders" function in the Fedline Savings Bond application has caused problems for
some customers because this function
has led to submission of duplicate
bond orders. The "Uncollect" function
should be used with caution, and
only if you fully understand its
"Uncollect Bond Orders" is similar
in functionality to the "Recollect &
Queue" function in the ACH application. It should only be used if you
receive a call from the Fed saying
that a previously transmitted file
has rejected and must be resent.
This function will put previously sent
orders back in a "ON" status, so that
they may be recollected and sent in a
new file of bond orders.
Uncollected bond orders may NOT
be updated! When this function is
used only at the Fed's request, you
should not have any problems.
Another important clarification is
that the "Uncollect" function will not
prevent an erroneous order from being
sent. If a bond order file has not yet
been sent, and is then uncollected, the
file remains queued and will be transmitted regardless. Uncollected bond
orders remain in the Fedline system
for four business days, and will be collected with newly entered orders on
subsequent days. The result is a duplicate bond order. If an erroneous or
duplicate bond order is inadvertently
sent, contact Electronic Access Support or the Savings Bond Unit
If you have any questions concerning the "Uncollect Bond Orders" function, call Electronic Access Support
toll-free at 1-800-333-0861 or at

New Voices
Since our last issue of Electronic Currents, a few more staffing changes have
occurred in EAS. Kevin O'Connell
has replaced Sallie Brown and
Marjorie Thedford has replaced
Sarah Buescher on the hotline.
Kevin worked in the Check department for 11 years and has extensive
knowledge of computer hardware.
Sallie has departed from EAS but plans
to assist with the on-site training program (see related article) as a trainer.
Marjorie comes to EAS with 20
years of Securities experience and has
trained customers in processing Securities on Fedline. Sarah has left the Fed
to study law at the University of Notre
Both Kevin and Marjorie have previous Fedline experience and are anxious to assist you with any Fedline
questions or problems that you might

Wire Fraud Alert continued

• Alert your corporate customers about the FDIC/FBI
scam and request that they
notify you of any suspicious

• Never give out information regarding procedures or names of authorized wire personnel unless you
know, or can verify the identity of
the person you are talking to.
• Do not act on written transfer instructions because signatures may
be forged. Instead, call your customer at a previously established
phone number. (On a recorded
phone line, of course.)
• If you receive a telephone notice
from the Fed about an incoming
wire, call us back at the phone
number we have given you in the
off-line procedure book.
If you suspect any request to
be fraudulent, immediately call
Mary Kuni, 314-444-8 715, or
Juliet Webb, 314-444-853 7, at the
St. Louis Fed. Also report fraudulent
attempts to your local FBI office.
Federal Reserve Bank of St. Louis

Face-to-face with EAS! The EAS team from left to right: (bottom row) Gloria Harlan, Max
Butler, and Susan Hackney, (top row) Marcia Sims, Tony Montgomery, Kevin O'Connell,
Jeanne Kassing. Missing from photo: Margorie Thedford.

Hotline Telephone Trivia
Do you ever wonder how many Fedline customer assistance calls the Electronic Access Support (EAS) hotline handles daily? If so, you may find the following statistics to
be of interest. The following numbers reflect the Fedline calls processed by EAS during May and June.
Incoming calls

outgoing caJls

Daily Average









Nearly 33 percent of these calls were processed between 8:00 and 10:00 a.m.,
resulting in longer "on hold" times during this period. For calls that do not reach an
EAS operator immediately, the average time a customer remains on hold is 1.8
minutes. The length of a telephone call to EAS can range from less than one minute
to two hours; however, the average telephone call lasts 3.9 minutes.

Busy, Busy, Busy!
Do you attempt to connect to the St. Louis Fed's host computer every morning between 8:00 and 9:00 a.m. CST and consistently receive busy signals? Our statistics
show that most of our customers try to call in during those times and compete with
each other for a connection. In an effort to alleviate this problem and accommodate
a greater number of connections to our host system, the St. Louis Fed is planning to
add five additional telephone lines in the near future .
In addition, we are currently analyzing customer connect times. We plan to develop guidelines to help determine when it may be appropriate for customers to purchase a faster modem or establish a leased line connection. Look for the results of
our study in future issues of Electronic Currents.

Important All-Electronic ACH Dates
January 1, 1991

No new non-electronic ACH receivers

July 1

No new non-electronic ACH originators

September 1O

All-Electronic ACH Workshop in Little Rock, Arkansas

September 1 1

All-Electronic ACH Workshop in Memphis, Tennessee

September 13

All-Electronic ACH Workshop in Oxford, Mississippi

September 1 7

All-Electronic ACH Workshop in Mt. Vernon, Illinois

September 18

All-Electronic ACH Workshop in Louisville, Kentucky

September 30

Financial Institutions that sign Fedline/FLASH-Light agreements by this
date avoid fee increases for 1992 if Fed can't install connection

October 1

All Feds have ACH return/NOC database

October 8

All-Electronic ACH Workshop in Springfield, Missouri

October 9

All-Electronic ACH Workshop in St. Louis, Missouri

October 10

All-Electronic ACH Workshop in Quincy, Illinois

January 1, 1992

Increase non-electronic ACH fees

Federal Reserve Bank of St. Louis
P.O. Box 442
St. Louis, Missouri 63166

Electronic Currents is a publication of the Federal
Reserve Bank of St. Louis and its Little Rock,
Louisville and Memphis Branches designed to inform financial institutions within the Eighth District
of electronic access issues, products, and services.
~ I 991 by Federal Reserve Bank of St. Louis. All
rights reserved.

Please address all comments, questions, or topic
suggestions to:
Maria Maravelas
Product Planning and Development
Federal Reserve Bank of St. Louis
P.O. Box 442
St. Louis, Missouri 63 I 66
You may obtain additional copies of Electronic
Currents or permission to reprint specific articles
from the same contact.
Federal Reserve Bank of St. Louis