The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FED ER AL R E S E R V E BANK OF N E W YORK r Circular No. 7813*1 L February 10, 1976 J PLANNED ESTABLISHMENT OF TWO REGIONAL CHECK PROCESSING CENTERS IN NEW YORK STATE — Northeastern New York RCPC, at the Utica Office — Downstate New York RCPC, at the Jericho Office Fo Federal This Bank plans to establish two new Regional Check Processing Centers (RCPCs) in New York State during 1976. One, the Northeastern New York Regional Check Processing Center, will operate at the Utica Office, a new facility near Utica, N. Y., and the other, the Downstate New York Regional Check Processing Center, will operate at the existing Jericho Office. Each RCPC will process all eligible cash items drawn on its participating banks. The Northeastern New York RCPC will serve approximately 100 banks in 34 northeast ern counties of New York—Albany, Broome, Cayuga, Chemung, Chenango, Clinton, Columbia, Cortland, Delaware, Essex, Franklin, Fulton, Greene, Hamilton, Herkimer, Jefferson, Lewis, Madison, Montgomery, Oneida, Onondaga, Oswego, Otsego, Rensselaer, St. Lawrence, Sara toga, Schenectady, Schoharie, Schuyler, Seneca, Tioga, Tompkins, Washington, and Warren. Average daily volume at the Northeastern New York RCPC is expected to approximate 750,000 items, having a dollar value of about $250 million. The Northeastern New York RCPC is sched uled to begin operations in the fourth quarter of 1976. The Downstate New York RCPC will serve approximately 40 banks in Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster, and Westchester counties. Average daily volume should approximate 350,000 items, having a dollar value of about $120 million. The Downstate New York RCPC is scheduled to begin operations in the third quarter of 1976. The new RCPCs will be the fourth and fifth established by this Bank. Their establishment will complete the Bank's program of providing overnight check clearing throughout the Second Federal Reserve District. With overnight check clearing, banks receive credit for checks they deposit during* the night in immediately available funds the next morning. A change in Routing Numbers of some banks in New York State will be necessitated by the establishment of the two new RCPCs. In order to minimize the number of banks that will be required to change routing symbols, those located in the territory served by the Northeastern New York RCPC will retain their present symbol (0213). However, in certain cases under Statewide branching conditions, some banks will be assigned a new routing symbol (0290) for their offices located in the combined area served by the Buffalo Branch and the new Utica Ofhce. Banks located in the seven-county Downstate New York RCPC area have been assigned the new routing symbol 0219; this new routing symbol should be printed on checks as soon as checks are reordered by their present customers and for all new customers, effective immediately. Again un der Statewide branching conditions, some banks may be assigned routing symbol 0280 for their offices located in the areas served by the Jericho Office. 74 A 7/zczT/oro, fbaf any bmzUa^ or^azzzLafzo;; fmwLaaf zzz Yta^wzffo bazz^bz^ ac^zYzbz'cj razzjzz/^ wzbb a/ oar ProrcjjuzL/ Po?Pm<y Azzzzz^cr c/zGzzz^^ Nc<3(f ^zzy o / f^ o^c^j or fAc P^z^/o BraizrA ^e/o 7T P a^y hz cz'?Aer o / ^Ac 77cw PCPC arca^. Prior to the opening of these RCPCs, this Bank will publish changes in its relevant operatingcirculars, setting forth appropriate sorting requirements and credit availability, in sufficient time to enable participating banks to adjust their operations accordingly. Other information regarding operating rules will be forthcoming in the near future. PAUL A. VoLCKER, February 10, 1976 N O T I C E The CUSIP number for l8l-day Treasury bills, to be dated February 13, 1976, and to mature August 12, 1976, as it appears in Circular No. 7809, dated February 9. 1976, is incorrect. The correct CUSIP number for these bills is 912793 Ai+8. Federal Reserve Bank of New York Fiscal Agent of the United States [Enc. Cir. No. 7814]
@FedFRASER