Release Date: May 17, 2004
For immediate release
The Federal Reserve Board has announced amendments to Appendix A of Regulation CC (15 KB PDF) that reflect the restructuring of the Federal Reserve's check processing operations in the Seventh 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 24, 2004, the Milwaukee 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 Reserve Bank's head office. Also as of July 24, the Little Rock 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 Reserve Bank's Memphis office. To reflect these operational changes, the final rule (1) 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, and (2) 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. To coincide with the effective date of the underlying check processing changes, the amendments are effective July 24, 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.
The Board's notice is attached.
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Last update: May 21, 2004