Release Date: August 9, 2005
For immediate release
The Federal Reserve Board on Monday 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 that will take place through the first quarter of 2006, 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 October 22, 2005, the Portland branch 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 Seattle 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 Portland branch office and reassigns the routing numbers listed thereunder to the Reserve Bank's Seattle branch office. To coincide with the effective date of the underlying check processing changes, the amendments are effective October 22, 2005. 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: August 9, 2005