February 17, 2009
Restructuring of check processing operations in the Third and Fifth Districts, Regulation CC
For immediate release
The Federal Reserve Board has approved amendments to Appendix A of Regulation CC that reflect the restructuring of the Federal Reserve's check processing operations in the Third and Fifth Districts.
Appendix A provides a routing number guide that helps depository institutions determine the maximum permissible hold periods for most deposited checks. As of April 18, 2009, the Baltimore branch office of the Federal Reserve Bank of Richmond 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 Philadelphia. 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 Baltimore branch office of the Federal Reserve Bank of Richmond and reassigns the routing numbers listed thereunder to the head office of the Federal Reserve Bank of Philadelphia. To coincide with the effective date of the underlying check processing changes, the amendments are effective April 18, 2009. 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.