Release Date: February 17, 2005
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, Seventh, 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 number guide that helps depository institutions determine the maximum permissible hold periods for most deposited checks. As of April 16, 2005, the Detroit branch 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 head office of the Federal Reserve Bank of Cleveland. As of April 23, 2005, the Houston branch office of the Federal Reserve Bank of Dallas no longer will process checks, and banks currently served by that office will be reassigned to that Reserve Bank's head office. To ensure that the information in Appendix A accurately describes the structure of check processing operations within the Federal Reserve System, the final rule (1) deletes the reference in Appendix A to the Chicago Reserve Bank's Detroit branch office and reassigns the routing numbers listed thereunder to the Cleveland Reserve Bank's head office, and (2) deletes the reference in Appendix A to the Dallas Reserve Bank's Houston branch office and reassigns the routing numbers listed thereunder to that Reserve Bank's head office. To coincide with the effective date of the underlying check processing changes, the amendments are effective April 16 and April 23, 2005, respectively. 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.
The Board's notice is attached.
Home | News and events
Last update: February 17, 2005