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F E D E R A L R E S E R V E BANK OF NEW YO RK [ Circular No. 9492 ~| May 10, 1983 CASH TRANSPORTATION SERVICES New Armored Carrier Zone To All Depository Institutions in the Second Federal Reserve District, and Others Concerned: Circular No. 9440, issued by this Bank on January 14, 1983, announced a revised cash transportation fee schedule for 1983. It also reaffirmed the Federal Reserve System’s view that registered mail service is a less secure method for cash shipments than armored carrier service. Accordingly, we continue to discourage the use of registered mail as a method of cash shipment except to remotely located institutions or where special circumstances exist. As part of this Bank’s continuing efforts to provide the most secure and cost-effective method of shipping cash, a review was recently concluded of the cash transportation service provided to institutions located in the northeastern part of New York State. Historically, cash has been shipped to this area by registered mail. As a result of this review, we are pleased to announce that this Bank has arranged to provide armored carrier cash transportation service to depository institutions located in the counties of Clinton, Essex, Franklin, Hamilton, and Warren. That territory, to be designated as Zone 15, will be served by Hudson Armored Car and Courier Service, Incorporated. There will be a charge of $51 per stop for this service, in addition to the present charge of $0.50 per bag for each bag of currency and coin deposited or withdrawn. We believe that the formation of Zone 15 will ensure a more secure method of shipping cash to depository institutions in this area. In light of the Board of Governors’ recent approval of the $100 registered mail fee ceiling in 1983, institutions in this zone should also realize cost savings by using this Bank’s armored carrier cash transportation service. If you have any questions regarding the new Zone 15, please call Anthony N. Sagliano, Manager, Currency Verification Department (Tel. No. 212-791-5777), or Michael L. Zimmerman, Chief, Currency Services Division (Tel. No. 212-791-7907). A nthony M. S o l o m o n , P resid en t.
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