FEDERAL RESERVE SYSTEM 12 CFR Part 229 Regulation CC; Docket No. [R-1034] Availability of Funds and Collection of Checks AGENCY: Board of Governors of the Federal Reserve System. ACTION: Proposed rule. SUMMARY: The Board is requesting comment on options for amending Subpart C of Regulation CC, which contains rules governing the collection and return of checks. The proposed options would amend Subpart C's provisions on sending notices in lieu of returning the original checks. The proposal is intended to provide more flexibility to depository institutions to experiment with methods to return checks electronically. DATES: Comments must be submitted on or before April 30, 1999. ADDRESSES: Comments, which should refer to Docket No. R-1034, may be mailed to Ms. Jennifer J. Johnson, Secretary, Board of Governors of the Federal Reserve System, 20th and C Streets, NW, Washington, D.C. 20551. Comments addressed to Ms. Johnson also may be delivered to the Board's mail room between 8:45 a.m. and 5:15 p.m. and to the security control room outside of those hours. Both the mail room and the security control room are accessible from the courtyard entrance on 20th Street between Constitution Avenue and C Street, NW. Comments may be inspected in Room MP-500 between 9:00 a.m. and 5:00 p.m. FOR FURTHER INFORMATION CONTACT: Oliver I. Ireland, Associate General Counsel (202/452-3625), Stephanie Martin, Senior Counsel (202/452-3198), Legal Division. For the hearing impaired only, contact Diane Jenkins, Telecommunications Device for the Deaf (TDD) (202/452-3544), Board of Governors of the Federal Reserve System, 20th and C Streets, NW, Washington, D.C. 20551.

Summary and proposed rule (20 KB PDF)

1999 Banking and consumer regulatory policy