Amendments to Regulation CC, Appendix A

Federal Reserve Bulletin, Summer, 2004

Restructuring of Check-Processing Operations in the Eleventh, Seventh, Eighth, Fourth, and Fifth Districts

The Federal Reserve Board on May 4, 2004, announced amendments to Appendix A of Regulation CC (Availability of Funds and Collection of Checks), effective July 10, 2004, that reflect the restructuring of the Federal Reserve's check-processing operations in the Eleventh District.

On May 17, 2004, the Federal Reserve Board announced amendments to Appendix A of Regulation CC, that reflect the restructuring of the Federal Reserve's check-processing operations in the Seventh and Eighth Districts.

On June 22, 2004, the Federal Reserve Board 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 July 10, 2004, the San Antonio office of the Federal Reserve Bank of Dallas no longer processes checks, and banks served by that office for check-processing purposes were reassigned to the Reserve Bank's head office in Dallas. To reflect this operational change, the final rule deletes the reference in appendix A to the San Antonio office and reassigns the routing numbers listed thereunder to the Reserve Bank's head once.

As of July 24, 2004, the Little Rock office of the Federal Reserve Bank of St. Louis no longer processes checks, and banks served by that office for check-processing purposes have been reassigned to the Reserve Bank's Memphis office.

As of August 7, 2004, the Milwaukee office of the Federal Reserve Bank of Chicago no longer processes checks, and banks served by that office have been reassigned to the Reserve Bank's head office. To reflect these operational changes, the final rule (1) deletes the reference in appendix A to the St. Louis Reserve Bank's Little Rock office and reassigns the routing numbers listed thereunder to the Reserve Bank's Memphis office, effective July 24, 2004, and (2) deletes the reference in appendix A to the Chicago Reserve Bank's Milwaukee office and reassigns the routing numbers listed thereunder to the Reserve Bank's head office, effective August 7, 2004.

As of August 28, 2004, the Columbia office of the Federal Reserve Bank of Richmond no longer processes checks, and banks served by that office have been reassigned to that Reserve Bank's Charlotte office.

Also as of August 28, 2004, the Louisville office of the Federal Reserve Bank of St. Louis no longer processes checks, and banks served by that office for check-processing purposes have been 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 were effective August 28, 2004.

As a result of these changes, some checks deposited in the affected regions that were nonlocal checks have become local checks that are subject to shorter permissible hold periods.