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■ ----------------- — — — FED ER AL RESERVE BANK OF N EW YORK r Circular No. 8 7 0 2 1 L J December 11, 1979 Processing of $l-Denomination Currency Deposits To All Banks in the Head Office Territory of the Second Federal Reserve District: It h as been the practice o f this B an k to process and reconcile differences in currency shipm ents separately fo r each stra p ( o f 100 n otes) fo r all denom inations. A review o f our records reveals that alm ost 40 percent o f all currency differences are in the $1 denom ination with the v a st m ajo rity con sistin g o f one or tw o note erro rs. T o facilitate currency p ro cessin g and reduce the tim e required to provide you w ith c u r rency deposit reconciliation data, beginning Ja n u a r y 1, 1980 the H ead Office o f this B a n k will process and reconcile deposits o f $1 notes on a bundle (1 ,0 0 0 note u n it) b asis. In the case o f an ad ju stm en t, we will return to you the green bundle fro n t card docum ent (fo r m M on. 2 0 0 .1 ) provided by us fo r currency deposits. P ro c e ssin g and reconciliation o f deposits o f the $2 deno m ination and higher will continue to be done on a stra p b asis at the H ead O ffice; a t the B u ffalo B ran ch , d eposits o f all currency denom inations will continue to be handled on a stra p b asis. I f you have any questions on this m atter, please contact D av id S. Slackm an , M an ag e r, C urrency P ro c e ssin g D epartm ent (T e l. N o. 2 1 2 -7 9 1 -7 9 5 9 ) or H ildon G. Ja m e s, C h ief, C u r rency P ro c e ssin g D ivision (T e l. N o. 2 1 2 -7 9 1 -5 0 5 2 ). T homas M. T im l e n , First Vice President.
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