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FEDERAL RESERVE BA5MK OF SMEW YORK [ Circular No. 9707 July 27, 1984 ] Procedures in the Event off a Disruption off Normal U.S. Postal Services To All Depository Institutions, and Others Concerned, in the Second Federal Reserve District: In the event of a disruption of normal United States postal services, you are requested to use other means of transportation and communication to this Bank’s offices. In this connection, please note the following: Check collection 1. There may be delays in the presentment, return, and advisement of nonpayment of cash items and noncash items. 2. We will continue to give credit for cash items in accordance with our time schedules from the date of actual receipt of such items (when received by applicable closing hours) at the Head Office, Buffalo Branch, and Regional Check Processing Centers, but we reserve the right to charge back any unpaid items at any time. 3. Cash letters and other correspondence that would normally be sent by first-class mail to a particular Second District office (Head Office, Buffalo Branch, or Cranford, Jericho, or Utica RCPC) may be delivered to any one of our offices for forwarding to the intended office. Cash letters may be accompanied by any return items, noncash items sent for collection, related advices, and other correspondence that the depository institutions may wish to send to this Bank. Reports being submitted to our Statistics Department or Data Reporting Reports Control Section (including the Report of Transactions Accounts, Other Deposits and Vault Cash — FR 2900) may be included in these shipments. However, valuables (e .g ., currency, securities, or coupons) should not be included in these ship ments. If the provisions of the Private Express Statutes (39 U.S.C. §§ 601 e tse q .) and implementing regulations (39 C.F.R. Parts 310 and 320) are not waived by the United States Postal Service, matter that would require postage should be enclosed in individually addressed, sealed envelopes that bear the correct amount of postage. Postal serv ice regulations do not require that postage be paid for checks and other financial instruments or for documents intrin sically related to and regularly accompanying the movement of checks or drafts within the banking system. 4. In cases where we normally send, within the Second Federal Reserve District, return-item or nonmachinable cash letters by mail directly to a depository institution and machinable cash letters by courier to a proc essing center or another depository institution, the return-item or non-machinable cash letters (and other checkrelated correspondence normally sent by mail) will be sent together with the machinable cash letters to the processing center or other depository institution, where they may be picked up by the paying institutions. Alternatively, paying institutions may elect to pick up such cash letters directly at the Second District office serving them, upon prior notification to our Check Services Department (212-791-6590). Interdistrict shipments 5. Our consolidated check shipments to Federal Reserve offices (including RCPCs) in other districts will con tinue to be made in accordance with the schedules in effect at the beginning of the disruption. (Any questions relating to paragraphs 1-5 above may be referred to our Check Services Department (212-791-6590). If you are located in the Buffalo Branch territory, you may also call 716-849-5056.) Direct deposit program 6. For depository institutions participating in the Direct Deposit of Federal Recurring Payments Program that normally receive entry registers and settlement reports by mail, such data will either be sent by courier to a central point for pickup or directly to their processing centers, or delivered with their cash letters in the manner indicated in paragraph 3 above. Depository institutions will be individually notified of the mode of delivery that will be followed in the event of a disruption of mail service. (Any questions relating to the Direct Deposit of Federal Recurring Payments Program may be referred to our Automated Payments Division (212-791-5330).) Currency and coin 1. Institutions that normally utilize the mail to place orders for currency and coin should telephone their orders to our office that provides their service (Head Office: 212-791-5061, or Buffalo Branch: 716-849-5024). We request that any institution that normally receives or deposits currency or coin by registered mail minimize shipments to and from this Bank by making exchanges with other institutions in their local area, whenever possible. Any institution normally using registered mail that experiences undue hardship because of its inability to receive currency or coin through such exchanges should telephone this Bank (Head Office: 212-791-7907, or Buffalo Branch: 716-849-5024). Securities and coupons 8. Depository institutions wishing to send securities to this Bank for redemption, registration, denomina tional exchange, or collateral or other safekeeping transactions should make arrangements to ensure safe delivery. To provide added protection, it is suggested that the institutions use restrictive endorsements, where applicable, as pro vided in Treasury Department Circular No. 853, Revised effective April 11, 1973 (the text of which is printed in 31 C.F.R. Part 328). Questions or instructions regarding securities shipments or securities held in safekeeping at this Bank may be directed to the appropriate personnel by telephoning the Head Office of this Bank collect: Redemption and denominational exchange of definitive secu rities............. Redemption of coupons.......................................................................................... Registration............................................................................................................. Collateral and other safekeeping transactions (other than collateral foradvances)................................................. Collateral for discount windowadvances............................................................. 212-791-5814 212-791-5814 212-791-5366 212-791-6367 212-791-5394 The Bank will consider alternate arrangements for the shipment of securities from this Bank, but delays in receipt should be anticipated. 9. Depository institutions should make their own arrangements to deliver coupons and bonds for collection to this Bank. If you have any questions regarding such items, please call the Head Office of this Bank collect (212-791-5081). Although we will attempt to make special arrangements for shipping coupons and bonds for collection, delays should be anticipated. In addition, depositors should anticipate delays in receiving payment for such items. 2 10. Paying agents for U.S. Savings Bonds, Series E/EE/Notes, that normally send their paid bond transac tions to this Bank by mail should make arrangements to send them by other means. Questions or instructions concern ing all savings bond transactions may be directed to the appropriate personnel by telephoning the Head Office of this Bank, as follows: Paid b on d s............................................................................................................... Redem ption............................................... R eissue........................................................................................................ Unissued stock shipments..................................................................................... 212-791-5962, 212-791-8016, 212-791-8018, 212-791-5978, -5963 -8017 -8019 -5979 If necessary, special arrangements will be made with respect to shipments of unissued bond stock by this Bank to issuing agents, but delays in receipt should be anticipated. 11. Depository institutions wishing to submit subscriptions or tenders for offerings of Treasury securities should telegraph the Head Office of this Bank. Depository institutions and Government agencies may telephone the Securities Operations Division collect (212-791-5465) and should be prepared to give the appropriate word from the Securities Test Word List. Such subscriptions or tenders will be subject to written confirmation, which should be sent to this Bank together with any cash letters in the manner indicated in paragraph 3 above. 12. Depository institutions located in the Buffalo Branch territory may direct any inquiries regarding para graphs 8, 10, or 11 above by telephoning the Branch (716-849-5043 or 5130). Federal tax deposits 13. Depository institutions that are designated as Federal Tax Depositaries and that normally send their com pleted Federal Tax deposit advices of credit (Form 2284) to this Bank by mail should make arrangements to use one of the following alternatives for delivering such advices: — Hand deliver the advices directly to this Bank’s Treasury Tax and Loan Section located at 33 Liberty Street, Room 618; or — Deliver the advices to the Buffalo Branch or to the RCPC serving the depositary. Enclose such advices in a sealed envelope and address the envelope to the attention of the Treasury Tax and Loan Section at this Bank or affix our address label to the envelope. Accounting matters 14. Daily Deposit Account statements, TT&L Account statements, and reports prepared by the Accounting Department relating to the maintenance of required reserves will be distributed in the normal manner to those deposi tory institutions that currently receive these statements through one of the Bank’s RCPCs or that pick up such state ments directly at the Head Office or Buffalo Branch. For those depository institutions that normally receive such statements through the mail, arrangements can be made to pick up these statements at any one of the District’s five offices. If any depository institution wishes to pick up its statements, it should request this service by contacting the Accounting Department at the Head Office (212-791-6623 or 6624) or at the Buffalo Branch (716-849-5064). 3 General 15. In view of the conditions that will prevail, this Bank will handle mail as provided above only at the send er’s own risk and under the following conditions: All shipments should comply with regulations that would apply if the shipments were sent by means of the U .S . Postal Service. Any and all packages may be refused for any reason and may be returned if refused by any other party. No Federal Reserve Bank shall have any responsibility for any valua bles or nonmailable matter sent to it, for any failure on the part of the sender to comply with the Private Express Statutes or any other law, for any neglect, misconduct, mistake or default of any other person, for procuring insur ance on any shipment, or for any special instructions. This Bank, and any other Reserve Bank to which a package may be sent, shall have no liability to any sender or any other person in connection with a shipment handled by it, including without limitation liability for misdelivery, loss, or delay. The sender shall indemnify each Reserve Bank handling a shipment for any loss to it resulting from such handling. 16. If you have any inquiries not covered by the foregoing, please call, at the Head Office, our Bank Services Office (212-791-6600) or, at the Buffalo Branch, our Bank Services and Public Information Staff (716-849-5108). A nthony M . Solom on, President. 4
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