Board of Governors of the Federal Reserve System

Data Dictionary

Item Number J826

Call confidentiality applies to FFIEC 031/041.

Data Description:

Consists of items, including but not limited to cash letters, return items, and automated clearing house files, deposited with the Federal Reserve for collection and, on the balance sheet date, have not yet been presented to the paying bank. The items are segregated on FR 34 according to the accounts described in the following paragraphs. Sufficient detail or subsidiary accounts should be maintained to identify the general nature of the transactions for float reporting purposes (see paragraph 11.40), including transportation delays and midweek/holiday closings.

Transit Items--Depository Institutions (150-050)
Represents the amount of items including cash letters, return items, etc., which have been dispatched for collection and will be settled with depository institutions located in own office territory. This account is charged when items are forwarded for payment. This account also includes: ACH credit transactions when the originating depository institution cannot be debited on the transaction date because of a holiday or mid-week closing; and deferred debit entries for depository institutions located and/or settled in another Reserve office using Same Day Settlement procedures. Cash letters
reported not received by the cut-off hour by paying banks because of transportation delays should be reported in this account. Work that has been identified as lost (i.e. has remained in Transit Items for 3 business days) should not be included in this account, but should be transferred to an Adjustments, net account.