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FEDERAL RESERVE BANK OF NEW YORK Circular No. 8 3 5 6 I May 25, 1978 L CHECKS PRINTED ON RED PAPER To A ll Banking Institutions in the Second Federal Reserve District, and Others Concerned: It has come to our attention that some check suppliers are printing checks on certain types of red paper. These checks, when microfilmed, do not produce legible copies. As you may know, Federal regulations (31 CFR 103) require each drawee bank to maintain the original or a copy of all checks written for more than $100. Therefore, if a bank permits its customers to write checks on material that cannot be microfilmed effectively, and does not make other provisions to meet the requirements of 31 CFR 103, it may be in violation of Federal law. Any questions regarding this matter may be referred to the Department of the Treasury, Washington, D.C. 20220. P aul A. V olcker . P re sid e n t.
@FedFRASER