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Availability of Funds and Collection of Checks

Fed · final-rule · Published 2003-05-28 · Effective 2003-07-28 · 68 FR 31592

Document

Document number
03-13030
Federal Register citation
68 FR 31592
CFR reference
12 CFR 229
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Federal Reserve System
Publication date
2003-05-28
Effective date
2003-07-28
Docket
Regulation CC

Abstract

The Board of Governors is publishing a final amendment to appendix A of Regulation CC that updates the routing numbers for Federal Reserve Banks and Federal Home Loan Banks. Banks generally must provide next-day or second-day availability for checks drawn on these routing numbers. This amendment also reorganizes and clarifies existing information in the introductory material preceding the routing number list. The Board also is providing information about a series of future amendments that the Board will make to appendix A to reflect the restructuring of check processing functions within the Federal Reserve System. These amendments collectively will reduce the number of check processing regions listed in appendix A from 44 to 32, thereby resulting in more checks in the affected regions being local to one another. These amendments will take effect on a staggered basis beginning in the second half of 2003 and ending in late 2004. The Board will publish each amendment in the Federal Register at least 60 days before the effective date.

Source

Authoritative
Federal Register document
Machine
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