Full text of Federal Reserve Bank of New York Circulars : Notice

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A t~ 7°°
NOTICE

Please substitute the attached copy of Appendix No. 2 to Operating Circular
No. 5, Revised effective September 20, 1972, for the copy you received with our
Circular No. 7001, dated September 15, 1972.
The original copy contained an error with respect to the routing symbols
listed in paragraph number 5.
Federai Reserve Bank of New York
September 18, 1972




F e d e r a l R e se r v e Bank
o f N e w Yo r k

Appendix No. 2 to
Operating Circular No. 5
Revised effective September 20, 1972

BUFFALO BRANCH TIME SCHEDULE
To the M em ber B anks and N onm em ber Clearing Banks
o f the Second F ederal R eserve D is tr ic t:

1. Credit for cash items received and accepted at our Buffalo
Branch will be given, subject to applicable closing times and to
sorting and other requirements, as shown below.
Immediate credit
2. Immediate credit will be given for the following items received
on Mondays through Fridays that are not public holidays:
Ite m s

Closing tim es

Item s on banks in Buffalo (routing
symbol 0 2 2 0 ); checks on the
Treasurer o f the United States
and postal money orders (routing
symbol 0000) i f not deposited
w ith a separate cash letter and
total for each class

I f fu lly M ICR qualified and
com puter-acceptable
8 :00 a.m.
I f com puter-rejected
6 :00 a.m.
I f not M ICR amountencoded
6 :00 a.m.
( Or later, if the item s are cleared on
the day o f receipt)

Checks on the Treasurer o f the
United States and postal money
orders

I f deposited with a separate
cash letter and total for
each class
2 :30 p.m.

Redeemed U. S. D epartm ent
A griculture food coupons

of

M ust be deposited with a
separate cash letter and
total
2 :30 p.m.

Checks on the Treasurer o f the
United States in amounts o f
$5,000 and over
Checks on Federal Reserve Bank o f
N ew York (including Buffalo
B ranch), and
Officers’ checks o f other Federal
Reserve Banks

I f deposited with a separate
cash letter and total for
each class
3 :30 p.m.

Deferred credit
3. Deferred credit for all items, other than those specified in para­
graph 2 and transfer drafts (see paragraph 11 of Operating Circular




No. 5), that are received on Mondays through Fridays (not public
holidays) will be given as indicated below:
(a)
Unsorted items from certain senders; items payable in
the Buffalo Branch Territory; and items payable in the New York
Head Office Territory—

ONE BUSINESS DAY AFTER RECEIPT
TJnsorted ite m s

C losin g tim e s

M ixed cash letters from banks with
daily averages o f not more than
300 item s as specified in para­
graph 6 (a ) o f Operating Circular
No. 5

12 :00 noon

Mixed cash letters from banks with
daily averages o f not more than
2,000
M ICR
amount-encoded
items as specified in paragraph
6 (b ) o f Operating Circular No. 5

8 :00 a.m.
(O r later if the irnmediate-credit
items are actually cleared on the day
o f receipt)

Ite m s p a y a b le in the
B u ffalo B ran ch T e r r ito r y

Item s on banks with routing symbol
0223

I f fu lly M ICR qualified and
computer-acceptable
2 :00 p.m.
I f computer-rejected
1 2 :00 noon
I f not M ICR amountencoded
1 2 :00 noon

Item s o f $500 and over on above
banks, if M ICR amount-encoded
and deposited in a separate cash
letter

3 :00 p.m.

TWO BUSINESS DAYS AFTER RECEIPT
Ite m s p a y a b le in the N ew
Y o rk H e a d Office T e r r ito r y

Item s on banks with routing symboils 0211 through 0217

C losin g tim e s

I f fu lly M ICR qualified and
com puter-acceptable
2 :00 p.m.
I f com puter-rejected
1 2 :00 noon
I f not M ICR amountencoded
1 2 :00 noon

(b)
Items payable in the following Federal Reserve Bank or
Branch cities*—

*
For purposes of this circular, the term “ Federal Reserve Bank or Branch cities” in­
cludes Kansas City, K an.; St. Paul, Minn.; and Miami, Fla.




ONE CALENDAR D A Y AFTER RECEIPT

Jacksonville
Kansas City, Kan,
Kansas City, Mo.
Little Rock
Louisville
Memphis
Minneapolis
Nashville
New Orleans
New York City
Oklahoma City
Omaha

Atlanta
Baltimore**
Birmingham
Boston
Charlotte
Chicago
Cincinnati
Cleveland
Dallas
Denver***
Detroit
Houston

Philadelphia
Pittsburgh
Portland, Ore,
Richmond
St. Louis
St. Paul, Minn,
Salt Lake City
San Antonio
San Francisco
Seattle

TWO CALENDAR DAYS AFTER RECEIPT

E l Paso
Miami

Helena

TWO BUSINESS DAYS AFTER RECEIPT

Los Angeles
(c)
Items payable at banks on the Par List in other Federal
Reserve Districts, outside Federal Reserve Bank or Branch cities—TWO BUSINESS DAYS AFTER RECEIPT

The closing times for the items listed in subparagraphs (b) and (c)
above are as follows:
Mondays through Fridays
If fully MICR qualified
and computer-acceptable
If computer-rejected
If not MICR amount-encoded

12:00 noon
10:00 a.m.
10 :00 a.m.

Sorting requirements
4. Except as provided in paragraphs 4, 6, 7, and 11 of Operating
Circular No. 5, the general sorting requirements set forth below will
apply.
Immediate-credit items

5. All immediate-credit items (routing symbol 0220) may be de­
posited in a single sort, including checks on the Treasurer of the
United States and postal money orders (routing symbol 0000).
** Includes items drawn on banks participating in the Baltimore regional check clearing
center bearing routing symbols 0520, 0540, 0550, and 0560.
*** Items drawn on banks in Cheyenne and Laramie, Wyoming, and on those banks in
Colorado (list furnished on request) that participate in the Colorado and Wyoming regional
check-clearing facility bearing routing symbol 1070 will, however, receive credit two calendar
.days after receipt.




Deferred-credit items
6. All deferred-credit items (all routing symbols other than those
indicated in paragraph 5 above), including items payable in other
Federal Reserve Districts, may be deposited in a single sort. How­
ever we may require, where volume warrants, that such items payable
in other Federal Reserve Districts, the territory served by the Head
Office, and the area served by any Regional Check Processing Center
of this Bank be sent direct.
Effect of this appendix upon previous appendix
7. This appendix supersedes Appendix No. 2, Revised effective
March 15, 1971, to Operating Circular No. 5, and the First Supple­
ment to that Appendix, dated June 23, 1971.




A lfred H ay e s ,

President.