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FEDERAL RESERVE BAMK OF SMEW YORK [ Circular No. 9942 1 October 31, 1985 C H EC K SERVICES New Price Schedules, Effective Ja n u a ry 1, 1986 To A ll Depository Institutions, and Others Concerned, in the Second Federal Reserve District: Effective January 1, 1986, new price schedules for check services will be implemented at all Federal Reserve Banks. Information about deposit deadlines, credit availability, and the new prices for the check and payor bank services offered at each of the five offices in the Second District is provided in the enclosure, Check Services: Col lection and Price Schedules fo r In-Zone Depositors. We would like to highlight several significant changes that will take effect in this District with the implementa tion of the new price schedules: o Prices for payor bank services and for standard non-machineable item deposits will be reduced significantly. o A separate price will be established for non-standard non-machineable deposits. Non-standard checks are those that do not meet industry-approved size standards or that are not pre-encoded with the routing number of the payor institution. o At the Head Office, a city group sort product will be offered at a price of 2.50 per item with an 8:30 a.m. deposit deadline. © Also at the Head Office, the Super High Dollar Group Sort cash letter fee will be reduced to $30.00. o At the Jericho and Cranford Offices, the RCPC/CITY product will be discontinued. You may continue to deposit these items as part of a mixed cash letter. © Finally, there will be various deposit deadline changes at each office, including later mixed cash letter dead lines at the Jericho and Cranford Offices. Please refer to the enclosed schedule for further details. If you have any questions, we encourage you to contact your Account Manager or one of the following check officers at your local Federal Reserve office: Account; Managers; Head Office (212) 791-6600 Buffalo Branch (716) 849-5108 or 5085 Cranford Office: Fred A. Denesevich, Regional Manager (201) 272-9000 New York Head Office; John F. Sobala, Assistant Vice President (212) 791-5997 Jericho Office: Anthony N. Sagliano, Regional Manager (516) 997-4569 Buffalo Branch: David P. Schwarzmueller, Operations Officer (716) 849-5018 Utica Office: Harry A. Curth, Jr., Regional Manager (315) 736-8321 E. G erald C o r r ig a n , President. FEDERAL RESERVE ® A « OF MEW YORIC Schedule I CHECK SERV ICES Collection and Price Schedules for In-Zone Depositors Effective January 1, 1986 NEW YORK HEAD OFFICE CHECK COLLECTION SERVICE AND PRICE SCHEDULE IM-ZOME DEPOSITORS P ro d u c t R o u tin g S y m b o l P e r Ite m C h a rg e 1 A v a ila b ility C u t- O ff T im e C it y Unsorted Regular 0210,0260, 0280,2260 3.5$ Immediate 7:00 a.m. Unsorted Premium 0210,0260, 0280,2260 5.00 Immediate 8:30 a.m. Group y 2.50 Immediate 8:30 a.m. Fine Sort2 0210,0280, 0260,2260 1.003 Immediate 9:30 a.m. Country 0211,0215, 0216,2211, 2215,2216 3.80 1 Business Day 12:00 noon All 2/ 2/ 6.80 6.20 6.00 Computed4 1 Business Day 1 Business Day 9:00 p.m. 10:30 p.m. 10:30 p.m. In-Zone In-District Other Feds 3.50 3.80 6.80 Computed4 Computed4 Computed4 9:00 p.m. 9:00 p.m. 9:00 p.m. In-Zone In-District Other Feds 3.50 3.80 6.80 Computed4 Computed4 Computed4 12:01 a.m. 12:01 a.m. 12:01 a.m. City 0210,0260, 0280,2260 25.00 1 Business Day 8:30 a.m. Country 0211,0215, 0216,2211, 2215,2216 25.00 2 Business Days 8:30 a.m. Other Feds All 30.00 Computed4 8:30 a.m. Non-Standard All $1.50 2 Business Days 8:30 a.m. In-Zone In-District Other Feds 8.00 8.30 11.30 Computed4 Computed4 Computed4 2/ 2/ 2/ 19.505 Immediate 12:01 a.m. Other Feds Unsorted Group A Group B (Mixed Cash Letter2 Early Regular Non-machineable Unencoded Mixed Cash Letter Super High DoSiar Group Sort 2/ 1A cash letter fee of 50.00 applies to all intradistrict cash letters except fine sort and Super High Dollar Group Sort cash letters. 2Contact an account manager for details. 3A fixed charge of $5.00 applies to fine sort packages. '•Availability on these deposits is subject to our interterritory crediting procedures. Contact an account manager for details. SA cash letter fee of $30.00 applies to Super High Dollar Group Sort cash letters. -1- BUFFALO BRANCH CHUCK COLLECTION SERVICE AND PRICE SCHEDULE 0W-ZOWE DEPOSITORS P ro d u c t R o u tin g S y m b o l P e r Ite m C h a rg e 1 A v a ila b ility C u t- O ff T im e City 0220,2220 2.3d Immediate 8:15 a.m. 0223,2223 0223,2223 2.50 4.80 Immediate Immediate 12:01 a.m. 3:15 a.m. City 0220,2220 1.103 Immediate 9:30 a.m. RCPC 0223,2223 1.103 Immediate 4:00 a.m. All 5.60 Computed4 10:00 a.m. In-Zone (RCPC) In-Zone (City) In-District Other Feds 2.50 2.30 2.90 5.60 4.80 2.30 2.90 5.60 Computed4 Computed4 Computed4 Computed4 Computed4 Computed4 Computed4 Computed4 12:01 a.m. 12:01 a.m. 12:01 a.m. 12:01 a.m. 2:00 a.m. 2:00 a.m. 2:00 a.m. 2:00 a.m. 20.00 20.00 25.00 $1.00 1 Business 1 Business 2 Business 2 Business 8:30 a.m. 8:30 a.m. 8:30 a.m. 8:30 a.m. 6.50 6.90 9.60 Computed4 Computed4 Computed4 14.005 Immediate Unsorted Regular PCPC Unsorted Regular Unsorted Premium Fine Sort2 Other Feds Mixed Cash Letter2 Regular Premium Won-machineable City RCPC Other Feds Non-Standard Uneraeoded Mixed Cash Letter High Dollar <Qr®yp Sort In-Zone (RCPC) In-Zone (City) In-District Other Feds 0220,2220 0223,2223 All All In-Zone In-District Other-Feds V Day Day Days Days 2/ 2/ 2/ 8:30 a.m. 1A cash letter fee of 50.0<t applies to intradistrict cash letters except fine sort cash letters and High Dollar Group Sort cash letters. 2Contact an account manager for details. 3A fixed charge of $4.50 applies to fine sort packages. ^Availability on these deposits is subject to our interterritory crediting procedures. Contact an account manager for details. 5A cash letter fee of $3.25 applies to High Dollar Group Sort cash letters. =2= JER0CH© OFF0CE CHECK COLLECTBOM SERVICE AHD PRICE SCHEDULE IN-ZOINIE DEPOSITORS P ro d u c t R o u tin g S y m b o l P e r Ite m C h a rg e 1 A v a ila b ility C u t- O ff T im e F1CPC Unsorted Regular 0214,0219, 0280,2214, 2219 2.6$ Immediate 12:01 a.m. Unsorted Premium 0214,0219, 0280,2214, 2219 4.8$ Immediate 2:30 a.m. Group 2/ 2.0$ Immediate 12:01 a.m. Premium Group V 3.0$ Immediate 3:00 a.m. 1.1$3 Immediate 4:00 a.m. y y 5.1$ 4.5$ 1 Business Day Immediate In-Zone In-District Other Feds 2.6$ 2.9$ 5.2$ Computed4 Computed4 Computed4 9:00 p.m. 9:00 p.m. 9:00 p.m. In-Zone In-District Other Feds 2.6$ 2.9$ 5.2$ Computed4 Computed4 Computed4 12:01 a.m. 12:01 a.m. 12:01 a.m. 0214,0219, 0280,2214, 2219 All 20.0$ 1 Business Day 8:30 a.m. $1.00 2 Business Days 8:30 a.m. In-Zone In-District Other Feds 6.6$ 6.9$ 9.2$ Computed4 Computed4 Computed4 y y y y 10.0$6 Immediate 8:30 a.m. Fine Sort2 Other Feds4 8,5 Group A Group B E^ixeti Cash Letter2 Early Regular5 Won-machineable Standard Non-Standard Unencoded E^ixed Cash Letter High Dollar Group Sort 0214,0219, 0280,2214, 2219 10:00 p.m. 12:01 a.m. 1A cash letter fee of 50.0<t applies to intradistrict cash letters except fine sort cash letters and High Sort Group Dollar cash letters. 2Contact an account manager for details. 3A fixed charge of $4.50 applies to fine sort packages. “Availability on these deposits is subject to our interterritory crediting procedures. Contact an account manager for details. 5On Friday nights and Saturday mornings, there is one consolidated cut-off time of 1:00 a.m. 6A cash letter fee of $8.00 applies to High Dollar Group Sort cash letters. =3- CRANFORD OFFICE CHECK COLLECTION SERVICE AND PRICE SCHEDULE SM-ZO^IE DEPOSITORS P ro d u c t R o u tin g S y m b o l P e r Ite m C h a rg e 1 A v a ila b ility C u t- O ff T im e RCPC Unsorted Regular 0212,0270, 2212 2.6$ Immediate 12:01 a.m. Unsorted Premium 0212,0270, 2212 4.8$ immediate 2:30 a.m. 2/ 2/ 2.0$ Immediate 12:01 a.m. 3.0$ Immediate 3:00 a.m. 0212,0270, 2212 1.1$3 Immediate 4:00 a.m. Unsorted Regular All 5.2$ Computed4 12:01 a.m. Unsorted Premium All 5.7$ Computed4 10:00 p.m. Group Premium Group Fine Sort2 Other Feds 5.2$ Computed4 10:30 p.m. Group B 2/ V 4.4$ Computed4 12:01 a.m. Group D 2/ 5.5$ Computed4 12:01 a.m. Group A Mined Cash Letter2 Early In-Zone In-District Other Feds 2.6$ 2.9$ 5.2$ Computed4 Computed4 Computed4 10:00 p.m. 10:00 p.m. 10:00 p.m. Regular In-Zone In-District Other Feds 2.6$ 2.9$ 5.2$ Computed4 Computed4 Computed4 12:01 a.m. 12:01 a.m. 12:01 a.m. Nora-machineable Standard Non-Standard Unencoded Mined Cash Letter High Dollar Group Sort 0212,0270, 2212 All 20.0$ 1 Business Day 8:30 a.m. $1.00 2 Business Days 8:30 a.m. In-Zone In-District Other Feds 6.6$ 6.9$ 9.2$ Computed4 Computed4 Computed4 y V y 10.0$5 Immediate 8:30 a.m. 2/ 1A cash letter fee of 50.00 applies to intradistrict cash letters except fine sort cash letters and High Dollar Group Sort cash letters. 2Contact an account manager for details. 3A fixed charge of $4.50 applies to fine sort packages. 4Availability on these deposits is subject to our interterritory crediting procedures. Contact an account manager for details. 5A cash letter fee of $9.00 applies to High Dollar Group Sort cash letters. =4= UTICA OFFICE CHECK COLLECTION SERVICE AND PRICE SCHEDULE 1W-ZOME DEPOSITORS P ro d u c t R o u tin g S y m b o l P e r Ite m C h a rg e 1 A v a ila b ility C u t- O ff T im e 0210,0260, 0280,2260 2.m Immediate 12:01 a.m. 0213,2213 0213,2213 V y 2.50 4.80 2.00 3.00 Immediate Immediate Immediate Immediate 12:01 a.m. 2:45 a.m. 12:01 a.m. 3:00 a.m. 0213,2213 1.103 Immediate 4:00 a.m. In-Zone In-District Other Feds 2.50 2.90 5.20 Computed4 Computed4 Computed4 8:00 p.m. 8:00 p.m. 8:00 p.m. Regular In-Zone In-District Other Feds 2.50 2.90 5.20 Computed4 Computed4 Computed4 12:01 a.m. 12:01 a.m. 12:01 a.m. Premium In-Zone In-District Other Feds 4.80 2.90 5.20 Computed4 Computed4 Computed4 1:30 a.m. 1:30 a.m. 1:30 a.m. 0213,2213 All 20.00 $1.00 1 Business Day 2 Business Days 8:30 a.m. 8:30 a.m. In-Zone In-District Other Feds 6.50 6.90 9.20 City RCPC Unsorted Regular Unsorted Premium Group Premium Group Fame Soft2 Mixed Cash Letter2 Early Non-maehineabie Standard Non-Standard Unemcoded Mixed Cash Letter High Dollar Group Sort 2/ 14.005 Computed4 Computed4 Computed4 Immediate 2/ 2/ 2/ 8:30 a.m. JA cash letter fee of 50.00 applies to intradistrict cash letters except fine sort cash letters and High Dollar Group Sort cash letters. 2Contact an account manager for details. 3A fixed charge of $4.50 applies to fine sort packages. “Availability on these deposits is subject to our interterritory crediting procedures. Contact an account manager for details. 5A cash letter fee of $16.00 applies to High Dollar Group Sort cash letters. -5- SECOND DOSTER0CT CHECK COLLECTION SERVICE AND PRICE SCHEDULE PAYOR BANK SERVICES P ric e s S e rv ic e T y p e Account Total Sereic© 1) Magnetic Tape $40 up to 50 totals 10$ per total above 50 2) Electronic Transmission $50 up to 50 totals 25$ per total above 50 3) Facsimile, Telephone or Hardcopy $1.00 per total subject to $28 minimum MICR Lin® Capture Service 1) Magnetic Tape .1$ per item subject to $25 minimum 2) $50 up to 5,000 items .5$ per item above 5,000 plus telephone line charges Electronic Transmission Account l<s¥eS Sorting S©rvie@ Head Office $150 per pocket1 .1$ per item above 25,000 Buffalo and Utica $25 per pocket1 .1$ per item above 25,000 Cranford $75 per pocket1 .1$ per item above 25,000 Jericho $50 per pocket1 .1$ per item above 25,000 Packag©=S©rt Processing S®F¥iee Head Office 2.5$ per item RCPCs and Buffalo 1.4$ per item 1 Subject to a maximum of 2 pockets. -6- FED CONTACTS FOR CHECK SERVICES Bank Services O ffice Head Office B ru c e A. C assella, B ank S e rvice s O ffic e r M ic h e le S. G o d fre y , B a nk S e rvice s O ffic e r (212) 791-6070 -6146 Account SVlanagerg Al B e vacq u a -6603 R on C o o k -6823 Sue D o u g h e rty -6601 K a th y H o llin g s -6604 R o cco M a g n o tta -6825 K evin P o w e r -8045 J o h n R eich -6602 Buffalo Branch R o b e rt J. M c D o n n e ll, O p e ra tio n s O ffic e r (716) 849-5022 Account Managers S a lly H a rd e n b u rg -5108 R ay M etz -5085 Cheek Processing Head Office J o h n F. S o ba la, A s s is ta n t V ic e P re s id e n t (212) 791-5997 Buffalo Branch D avid P. S c h w a rz m u e lle r, O p e ra tio n s O ffic e r (716) 849-5018 Cranford Office Fred A. D e n ese vich, R e g io n a l M a n a g e r (201) 272-9000 Jericho Office A n th o n y N. S a g lia n o , R e g io n a l M a n a g e r (516) 997 -4 56 9 Utica Office H a rry A. C u rth , Jr., R e g io n a l M a n a g e r -7- (315) 736-8321
@FedFRASER