To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
In a press release, the Federal Reserve Board announced amendments to Appendix A of Regulation CC that reflect the restructuring of the Federal Reserve's check processing operations in the Seventh and Eighth Districts. These amendments are part of a series of amendments to Appendix A that will take place through the end of 2004, associated with the previously announced restructuring of the Reserve Banks' check processing operations. For further details on the restructuring process, access Circular 11511.
Appendix A provides a routing number guide that helps depository institutions determine the maximum permissible hold periods for most deposited checks. As of July 24, 2004, the Little Rock office of the Federal Reserve Bank of St. Louis no longer will process checks, and banks currently served by that office for check processing purposes will be reassigned to the Reserve Bank's Memphis office. As of August 7, 2004, the Milwaukee office of the Federal Reserve Bank of Chicago no longer will process checks, and banks currently served by that office will be reassigned to the Reserve Bank's head office.
To reflect these operational changes, the final rule (1) deletes the reference in Appendix A to the St. Louis Reserve Bank's Little Rock office and reassigns the routing numbers listed thereunder to the Reserve Bank's Memphis office, effective July 24, 2004, and (2) deletes the reference in Appendix A to the Chicago Reserve Bank's Milwaukee office and reassigns the routing numbers listed thereunder to the Reserve Bank's head office, effective August 7, 2004. As a result of these changes, some checks deposited in the affected regions that currently are nonlocal checks will become local checks that are subject to shorter permissible hold periods.
Press release
Board's notice
Amendments to Regulation CC ››
Circular 11511
Contacts:
Jack K. Walton II
Assistant Director
Division of Reserve Bank Operations and Payment Systems
jack.walton@frb.gov
Joseph P. Baressi
Senior Financial Services Analyst
Division of Reserve Bank Operations and Payment Systems
joseph.p.baressi@frb.gov
Adrianne G. Threatt
Counsel
Legal Division
adrianne.g.threatt@frb.gov