Full text of Federal Reserve Bank of New York Circulars : Closing Hours for On-Line Transactions in Book-Entry Securities

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Federal Reserve Bank
of New York

Appendix A to
Operating Circular No. 21A
May 9, 1989

CLOSING HOURS
FOR ON-LINE TRANSACTIONS
IN BOOK-ENTRY SECURITIES
To All Depository Institutions in the Second
Federal Reserve District, and Others Concerned:

Effective February 6, 1989, the 15-minute dealer turnaround time, former­
ly restricted to New York, Chicago, Los Angeles, and San Francisco, was ex­
panded nationwide.
Accordingly, the schedule containing the closing hours for on-line trans­
actions in book-entry securities under Operating Circular No. 21A has been
amended to read as follows (all times listed are Eastern Time):
Origination of On-Line Transactions..................................

2:30 p.m.

Origination of Turnaround (Redelivery) Transactions
from a dealer to an ultimate customer........................

2:45 p.m.

Reversal of On-Line Transactions......................................

3.00 p.m.




E. G erald Corrigan,
President.