The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
Resumption of Check Services in Puerto Rico and the Virgin Islands
September 13, 1996
Circular No. 10874
To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
On September 10, 1996, this Bank notified all depository institutions and others concerned that due to the damage caused by Hurricane Hortense in Puerto Rico and in the Virgin Islands, and the resulting delays in the presentment and return of cash items, this Bank was deferring credits for items we identified as drawn on, or cash items returned to, depository institutions having routing numbers with 0215, 0216, 2215 or 2216 prefixes.
Effective immediately, the Bank is no longer deferring credit for such items since we are now able to present and return cash items to the affected depository institutions either directly or through affiliates located in Puerto Rico and the Virgin Islands.