June 20, 2007
Restructuring of the check processing operations in the Twelfth District, Regulation CC
For immediate release
The Federal Reserve Board on Wednesday announced amendments to Appendix A of Regulation CC 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 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 18, 2007, the head office of the Federal Reserve Bank of San Francisco no longer will process checks, and banks currently served by that office will be reassigned to the Los Angeles 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 head office and reassigns the routing numbers listed thereunder to the Reserve Bank’s Los Angeles branch office. To coincide with the effective date of the underlying check processing changes, the amendments are effective August 18, 2007. 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.