Academic journal article Federal Reserve Bulletin

Amendment to Regulation CC, Appendix A

Academic journal article Federal Reserve Bulletin

Amendment to Regulation CC, Appendix A

Article excerpt

The Federal Reserve Board announced on October 12, 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 Fourth, Tenth, and Eleventh 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 symbol guide that helps depository institutions determine the maximum permissible hold periods for most deposited checks. As of December 10, 2005, the Oklahoma City Branch office of the Federal Reserve Bank of Kansas City will no longer process checks, and depository institutions that were assigned to that office have been reassigned to the head office of the Federal Reserve Bank of Dallas. As of January 21, 2006, banks with 0442 and 2442 routing symbols, currently assigned to the Columbus office of the Federal Reserve Bank of Cleveland, will be reassigned to that Reserve Bank's Cincinnati Branch office. As of February 11, 2006, banks with 0440, 2440, 0441, and 2441 routing symbols, also currently assigned to the Columbus office, will be reassigned to the Cleveland Reserve Bank's head office and the Columbus office will cease processing checks. …

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