Full text of Federal Reserve Bank of New York Circulars : Effect of July 3 Festivities on Check Collection

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FEDERAL RESERVE BANK
OF WEW YORK

< & /
June 2 6 ,1 9 8 6

Effect of July 3 Festivities on Check Collection
To A ll Depository Institutions, and Others Concerned,
in the Head Office Territory:

In anticipation of street traffic congestion in lower M anhattan on the
evening of July 3, including a proposed traffic ban beginning that evening
at 7:00 p.m., the Head Office of this Bank will extend, for credit availability
purposes, its return item deadline from midnight, July 3, to 2:00 a.m. on
July 4. Banks returning items u p to 2:00 a.m . on J u ly U will receive credit
for those items in accordance with our Operating Circular No. 4.
If you have any questions regarding this m atter, please contact Steven
J. Garofalo, Manager of our Check Processing and Check Adjustment
Departments (Tel. No. 212-791-5322).

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