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FEDERAL RESERVE BANK OF NEW YORK [c a Circular No. 8 6 5 5 October 11, 1979 N E X T -D A Y D E L IV E R Y O F S T A T E M E N T S To All Member Banka, Edge Act Corporations, and Others Concerned, in the Second Federal Reserve District: B y th e en d o f th is y ea r, th is B a n k w ill be in a p osition to p rovid e m e m b er b an k s in th is D is tr ic t w ith th e ir d a ily re se r v e a cco u n t s ta te m e n ts and su p p o r tin g a d v ic es on th e n e x t b u sin ess d ay fo llo w in g th e s ta te m e n t d ate. In a d d itio n , d a ily T rea su ry T ax and Loan a cco u n t sta te m e n ts w ill also b e p ro v id ed by th e n e x t day. W e r e cen tly b eg a n p ro v id in g th is se r v ic e to B u ffa lo B ra n ch te rrito r y m e m b er b an k s. M em b er b a n k s in th e N e w Y ork C ity v ic in ity h ave b een a b le to p ick -u p th eir sta te m e n ts a t th is B a n k for so m e tim e and m ay co n tin u e to do so in th e fu tu re. N e x t-d a y d e liv e r y o f sta te m e n ts sh ould en a b le you r bank to reco n cile p ro m p tly th e en tr ie s a p p e a r in g on th e sta te m e n ts and m ay a ssist you r b ank in th e m a n a g e m e n t of its accou n ts. W e w ill b e a b le to p ro v id e th is im p roved se r v ic e as a r e su lt of th e e sta b lish m e n t of new te le c o m m u n ic a tio n s lin k s b etw e en th e H ead O ffice of th is B an k and its R egion al C heck P ro c essin g C en ters (R C P C s). U s in g th ese lin k s, th is B ank w ill be ab le to p rin t sta te m e n ts at its R C PC s in tim e to d e liv e r th em to you r b ank by co u rier each d ay a lo n g w ith our cash le tte r sen d in g s. T h ere w ill be no ch a n g e in th e m a n n er in w h ich th e rela ted a d v ic es su p p o r tin g th e e n tr ie s a p p e a r in g on th e s ta te m e n ts are d isp a tc h e d . A s a g e n e r a l m a tter, th erefo re, you r bank sh ou ld r e ceiv e th e sta te m e n ts an d a d v ic e s on th e sa m e d a y —th e d ay a fter th e sta te m e n t d ate. W e p la n to p h a se in th is n ew se r v ic e, one RCPC a t a tim e, and co m p lete th e p ro cess by yearend. P rio r to th e im p le m e n ta tio n d a te for each R eg io n a l C heck P r o c e ssin g C enter, th e b a n k s served by th e p a r tic u la r R C P C s w ill be a d v ised by th is B a n k ’s A c c o u n tin g D e p a r tm e n t of th e sta rt-u p d a te and w ill be p ro v id ed w ith an o p p o rtu n ity to s e le c t a m o n g sev e ra l a lte r n a tiv e m ea n s of o b ta in in g sta te m e n ts, if a n o th er m eth od w ou ld be m ore co n v en ien t for th em . (O ver) We do not intend to delay the delivery of cash letters in the event th a t statem ents are not ready for delivery. Therefore, if a com puter-related or other problem delays the p rinting of statem ents at the RCPCs or, for th at m atter, if w eather conditions prevent th eir timely delivery to you, you may call this Bank (collect) for your account balances (as you can do at the present time). Also, if you are unable to identify and reconcile an entry appearing on your daily statem ents, please continue to use your present contacts at this Bank to assist you in resolving these entries. If you have any questions concerning the delivery of reserve account or Treasury Tax and Loan account statem ents, please call John J. Strick (212-791-5228) or Joseph R. Prancl (212-791-6569). T homas M. T im l e n , F ir s t V ice P re sid e n t.
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