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Amendments to Regulation CC, appendix A.

The Federal Reserve Board announced on April 19, 2005, amendments to appendix A of Regulation CC (Availability of Funds and Collection of Checks) that reflect the restructuring of the Federal Reserve's check-processing operations in the Tenth and Twelfth Districts. These amendments are part of a series of amendments to appendix A that will take place through the first quarter of 2006, associated with the previously announced restructuring of the Reserve Banks' check-processing operations.

Appendix A provides a routing number guide that helps depository institutions determine the maximum permissible hold periods for most deposited checks. As of June 18, 2005, the Salt Lake City Branch office of the Federal Reserve Bank of San Francisco will no longer process checks, and banks that are served by that office have been reassigned to the Denver Branch office of the Federal Reserve Bank of Kansas City. To ensure that the information in appendix A accurately describes the structure of check-processing operations within the Federal Reserve System, the final rule deletes the reference in appendix A to the San Francisco Reserve Bank's Salt Lake City Branch office and reassigns the routing numbers listed thereunder to the Kansas City Reserve Bank's Denver Branch office. To coincide with the effective date of the underlying check-processing changes, the amendments will become effective June 18, 2005. As a result of these changes, some checks deposited in the affected regions that were nonlocal checks became local checks subject to shorter permissible hold periods.

The Federal Reserve Board announced on August 9, 2005, amendments to appendix A of Regulation CC (Availability of Funds and Collection of Checks) that reflect the restructuring of the Federal Reserve's check-processing operations in the Twelfth District. These amendments are part of a series of amendments to appendix A that will take place through the first quarter of 2006, associated with the previously announced restructuring of the Reserve Banks' check-processing operations.

Appendix A provides a routing number guide that helps depository institutions determine the maximum permissible hold periods for most deposited checks. As of October 22, 2005, the Portland Branch office of the Federal Reserve Bank of San Francisco will no longer process checks, and banks that are served by that office have been reassigned to the Seattle Branch office of the Federal Reserve Bank of San Francisco. To ensure that the information in appendix A accurately describes the structure of check-processing operations within the Federal Reserve System, the final rule deletes the reference in appendix A to the San Francisco Reserve Bank's Portland Branch office and reassigns the routing numbers listed thereunder to the Reserve Bank's Seattle Branch office. To coincide with the effective date of the underlying check-processing changes, the amendments will become effective October 22, 2005. As a result of these changes, some checks deposited in the affected regions that were nonlocal checks became local checks subject to shorter permissible hold periods.
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Title Annotation:Collection of Checks
Publication:Federal Reserve Bulletin
Geographic Code:1USA
Date:Jun 22, 2005
Words:478
Previous Article:Federal Open Market Committee statements.
Next Article:Final amendments to Regulation DD.
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