The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK OF N E W YORK r C ircular N o. 7 7 4 2 1 O c to b e r 29, 1975 L J COLLECTION OF CASH ITEMS Cash Items Drawn on Thrift Institutions in New Jersey T o the M em ber B a n k s of the Second F ed eral R eserve D istrict, and O thers Concerned: In connection with plans by the T reasury D epartm ent to automate Government payments, th rift institutions throughout the country have been assigned new routing numbers by Rand M cNally & Co. T h rift institutions in the Second Federal Reserve D istrict located in New Jersey have been assigned routing numbers that contain the new ro u tin g symbol 2212. In addition, mutual savings banks in New Jersey that have checking account powers are now beginning to issue to their cus tom ers checks that are preprinted w ith their new routing numbers, in conform ity with the A.B.A. M agnetic Ink C haracter Recognition Program , including the new routing symbol 2212. In reviewing cash letters sent to this Bank, we have found that many cash letters include items bearing the new routing symbol in deposits of items payable in other Federal Reserve D istricts, and that some depositors of cash letters are invalidating the new routing symbol, creating a reject item. However, such items are payable through this B ank’s H ead Office, C ranford Office, and Jericho Office and should be included in cash letters deposited at those offices. Enclosed is a copy of the Second Supplement, dated October 28, 1975, to our O perating C ir cular No. 5, showing the credit availability for the timely deposit of such items at this Bank. A ny questions you may have on this m atter may be directed to any of the following: H ead Office Joseph M. O ’Connell, M anager, Check Processing D epartm ent (Telephone No. 212-791-5321) John F. Sobala, Chief, A utom ated Check Processing Division (Telephone No. 212-791-5346) C ranford Office Jerom e P. Perlongo, M anager, N JR C P C (Telephone No. 201-272-9000, Extension 213) R obert Ambrose, Special A ssistant, N JR C P C (Telephone No. 201-272-9000, Extension 237) Jericho Office Joseph M. O ’Connell, M anager, Check Processing D epartm ent (Telephone No. 212-791-5321) E dw ard H. Denhoff, Chief, L IR C P C (Telephone No. 516-997-4500) P aul L. V olcker, President. FE D E R A L R E S E R V E BANK OF N EW YORK Second S u p p lem en t to O p e ratin g C ircu la r No. 5 (R evised effective Ju ly 1, 1974) E ffe ctiv e O ctober 29, 19:5 TIM E SCHEDULES A vailability of C redit for Cash Item s To the Member B an k s of the Second F ederal Reserve D istrict, and Others Concerned: Appendices No. 1, No. 1-A, and No. 1-B, Revised January 1, 1975, to Operating Circular No. 5. have been amended as follows: 1. Appendix No. 1, “ New York Head Office Time Schedule,” has been amended by adding the wTords “and 2212” following “0217” in the third and fourth entries on page 3 and in the second and third entries on page 4. 2. Appendix No. 1-A, “Jericho Office, Long Island Regional Check Processing Center (L IR C P C ) Time Schedule,” has been amended by adding the words “and 2212” following “0217” in the fifth and sixth entries on page 2. 3. Appendix No. 1-B, “Cranford, North Jersey Regional Check Processing Center (N JR C P C ) Time Schedule,” has been amended by adding the words "and 2212” following “0217” in the first and second entries on page 1. P aul L. V olcker, President.
@FedFRASER