Release Date: June 22, 2004
For immediate release
The Federal Reserve Board has announced amendments to Appendix A of Regulation CC that reflect the restructuring of the Federal Reserve's check processing operations in the Fourth, Fifth, 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.
Appendix A provides a routing number guide that helps depository institutions determine the maximum permissible hold periods for most deposited checks. As of August 28, 2004, the Columbia office of the Federal Reserve Bank of Richmond no longer will process checks, and banks currently served by that office will be reassigned to that Reserve Bank's Charlotte office. Also as of August 28, the Louisville 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 Cincinnati office of the Federal Reserve Bank of Cleveland. To reflect these operational changes, the final rule (1) deletes the reference in Appendix A to the Richmond Reserve Bank's Columbia office and reassigns the routing numbers listed thereunder to that Reserve Bank's Charlotte office, and (2) deletes the reference in Appendix A to the St. Louis Reserve Bank's Louisville office and reassigns the routing numbers listed thereunder to the Cleveland Reserve Bank's Cincinnati office. To coincide with the effective date of the underlying check processing changes, the amendments are effective August 28, 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.
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Last update: June 22, 2004