Availability of Funds and Collection of Checks, 74998-75000 [E5-7462]
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74998
Federal Register / Vol. 70, No. 242 / Monday, December 19, 2005 / Rules and Regulations
5303(g), 5333, 5334(a), and 7701(b)(2);
Subpart C also issued under 5 U.S.C. 5304,
5305, and 5553; sections 302 and 404 of
Federal Employees Pay Comparability Act of
1990 (FEPCA), Pub. L. 101–509, 104 Stat.
1462 and 1466; and section 3(7) of Pub. L.
102–378, 106 Stat. 1356; Subpart D also
issued under 5 U.S.C. 5335(g) and 7701(b)(2);
Subpart E also issued under 5 U.S.C. 5336;
Subpart F also issued under 5 U.S.C. 5304,
5305(g)(1), and 5553; and E.O. 12883, 58 FR
63281, 3 CFR, 1993 Comp., p. 682 and E.O.
13106, 63 FR 68151, 3 CFR, 1998 Comp., p.
224; Subpart G also issued under 5 U.S.C.
5304, 5305, and 5553; section 302 of the
FEPCA, Pub. L. 101–509, 104 Stat. 1462; and
E.O. 12786, 56 FR 67453, 3 CFR, 1991 Comp.,
p. 376.
Subpart F—Locality-Based
Comparability Payments
2. In § 531.603, paragraph (b) is
revised to read as follows:
I
§ 531.603
Locality pay areas.
*
*
*
*
*
(b) The following are locality pay
areas for purposes of this subpart:
(1) Atlanta-Sandy Springs-Gainesville,
GA-AL—consisting of the Atlanta-Sandy
Springs-Gainesville, GA-AL CSA;
(2) Boston-Worcester-Manchester,
MA-NH-ME-RI—consisting of the
Boston-Worcester-Manchester, MA–NH
CSA, plus the Providence-New BedfordFall River, RI-MA MSA, Barnstable
County, MA, and Berwick, Eliot, Kittery,
South Berwick, and York towns in York
County, ME;
(3) Buffalo-Niagara-Cattaraugus, NY—
consisting of the Buffalo-NiagaraCattaraugus, NY CSA;
(4) Chicago-Naperville-Michigan City,
IL-IN-WI—consisting of the ChicagoNaperville-Michigan City, IL-IN-WI
CSA;
(5) Cincinnati-MiddletownWilmington, OH-KY-IN—consisting of
the Cincinnati-Middletown-Wilmington,
OH-KY-IN CSA;
(6) Cleveland-Akron-Elyria, OH—
consisting of the Cleveland-AkronElyria, OH CSA;
(7) Columbus-Marion-Chillicothe,
OH—consisting of the ColumbusMarion-Chillicothe, OH CSA;
(8) Dallas-Fort Worth, TX—consisting
of the Dallas-Fort Worth, TX CSA;
(9) Dayton-Springfield-Greenville,
OH—consisting of the DaytonSpringfield-Greenville, OH CSA;
(10) Denver-Aurora-Boulder, CO—
consisting of the Denver-AuroraBoulder, CO CSA, plus the Ft. CollinsLoveland, CO MSA and Weld County,
CO;
(11) Detroit-Warren-Flint, MI—
consisting of the Detroit-Warren-Flint,
MI CSA, plus Lenawee County, MI;
(12) Hartford-West HartfordWillimantic, CT-MA—consisting of the
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Hartford-West Hartford-Willimantic, CT
CSA, plus the Springfield, MA MSA and
New London County, CT;
(13) Houston-Baytown-Huntsville,
TX—consisting of the HoustonBaytown-Huntsville, TX CSA;
(14) Huntsville-Decatur, AL—
consisting of the Huntsville-Decatur, AL
CSA;
(15) Indianapolis-AndersonColumbus, IN—consisting of the
Indianapolis-Anderson-Columbus, IN
CSA, plus Grant County, IN;
(16) Los Angeles-Long BeachRiverside, CA—consisting of the Los
Angeles-Long Beach-Riverside, CA CSA,
plus the Santa Barbara-Santa Maria, CA
MSA and Edwards Air Force Base, CA;
(17) Miami-Fort Lauderdale-Miami
Beach, FL—consisting of the Miami-Fort
Lauderdale-Miami Beach, FL MSA, plus
Monroe County, FL;
(18) Milwaukee-Racine-Waukesha,
WI—consisting of the MilwaukeeRacine-Waukesha, WI CSA;
(19) Minneapolis-St. Paul-St. Cloud,
MN-WI—consisting of the MinneapolisSt. Paul-St. Cloud, MN-WI CSA;
(20) New York-Newark-Bridgeport,
NY-NJ-CT-PA—consisting of the New
York-Newark-Bridgeport, NY-NJ-CT-PA
CSA, plus Monroe County, PA, and
Warren County, NJ;
(21) Philadelphia-Camden-Vineland,
PA-NJ-DE-MD—consisting of the
Philadelphia-Camden-Vineland, PA-NJDE-MD CSA, plus Kent County, DE,
Atlantic County, NJ, and Cape May
County, NJ;
(22) Phoenix-Mesa-Scottsdale, AZ—
consisting of the Phoenix-MesaScottsdale, AZ MSA;
(23) Pittsburgh-New Castle, PA—
consisting of the Pittsburgh-New Castle,
PA CSA;
(24) Portland-Vancouver-Beaverton,
OR-WA—consisting of the PortlandVancouver-Beaverton, OR-WA MSA,
plus Marion County, OR, and Polk
County, OR;
(25) Raleigh-Durham-Cary, NC—
consisting of the Raleigh-Durham-Cary,
NC CSA, plus the Fayetteville, NC MSA,
the Goldsboro, NC MSA, and the
Federal Correctional Complex Butner,
NC;
(26) Richmond, VA—consisting of the
Richmond, VA MSA;
(27) Sacramento—Arden-Arcade—
Truckee, CA-NV—consisting of the
Sacramento—Arden-Arcade—Truckee,
CA-NV CSA, plus Carson City, NV;
(28) San Diego-Carlsbad-San Marcos,
CA—consisting of the San DiegoCarlsbad-San Marcos, CA MSA;
(29) San Jose-San Francisco-Oakland,
CA—consisting of the San Jose-San
Francisco-Oakland, CA CSA, plus the
Salinas, CA MSA and San Joaquin
County, CA;
PO 00000
Frm 00004
Fmt 4700
Sfmt 4700
(30) Seattle-Tacoma-Olympia, WA—
consisting of the Seattle-TacomaOlympia, WA CSA;
(31) Washington-Baltimore-Northern
Virginia, DC-MD-PA-VA-WV—
consisting of the Washington-BaltimoreNorthern Virginia, DC-MD-VA-WV CSA,
plus the Hagerstown-Martinsburg, MDWV MSA, the York-Hanover-Gettysburg,
PA CSA, and King George County, VA;
and
(32) Rest of U.S.—consisting of those
portions of the continental United States
not located within another locality pay
area.
*
*
*
*
*
[FR Doc. 05–24212 Filed 12–16–05; 8:45 am]
BILLING CODE 6325–39–P
FEDERAL RESERVE SYSTEM
12 CFR Part 229
[Regulation CC; Docket No. R–1244]
Availability of Funds and Collection of
Checks
Board of Governors of the
Federal Reserve System.
ACTION: Final rule; technical
amendment.
AGENCY:
SUMMARY: The Board of Governors is
amending appendix A of Regulation CC
to delete the reference to the New
Orleans branch office of the Federal
Reserve Bank of Atlanta and reassign
the Federal Reserve routing symbols
currently listed under that office to the
head office of the Federal Reserve Bank
of Atlanta, and to correct typographical
errors in the routing symbols listed
under the Helena branch office of the
Federal Reserve Bank of Minneapolis.
The Board also is providing notice that
the previously announced transfer of the
Nashville branch office’s checkprocessing operations to the Atlanta
head office will be delayed until 2007.
Finally, the Board is providing advance
notice concerning future appendix A
changes affecting the Federal Reserve
Bank of New York and the Federal
Reserve Bank of Philadelphia.
DATES: The amendment to appendix A
under the Ninth Federal Reserve District
(Federal Reserve Bank of Minneapolis)
is effective December 19, 2005. The
amendment to appendix A under the
Sixth Federal Reserve District (Federal
Reserve Bank of Atlanta) is effective on
March 31, 2006.
FOR FURTHER INFORMATION CONTACT: Jack
K. Walton II, Associate Director (202/
452–2660), or Joseph P. Baressi, Senior
Financial Services Analyst (202/452–
3959), Division of Reserve Bank
E:\FR\FM\19DER1.SGM
19DER1
74999
Federal Register / Vol. 70, No. 242 / Monday, December 19, 2005 / Rules and Regulations
Operations and Payment Systems; or
Adrianne G. Threatt, Counsel (202/452–
3554), Legal Division. For users of
Telecommunications Devices for the
Deaf (TDD) only, contact 202/263–4869.
SUPPLEMENTARY INFORMATION:
Background
Regulation CC establishes the
maximum period a depositary bank may
wait between receiving a deposit and
making the deposited funds available
for withdrawal.1 A depositary bank
generally must provide faster
availability for funds deposited by a
‘‘local check’’ than by a ‘‘nonlocal
check.’’ A check drawn on a bank is
considered local if it is payable by or at
a bank located in the same Federal
Reserve check processing region as the
depositary bank. A check drawn on a
nonbank is considered local if it is
payable through a bank located in the
same Federal Reserve check processing
region as the depositary bank. Checks
that do not meet the requirements for
‘‘local’’ checks are considered
‘‘nonlocal.’’
Appendix A to Regulation CC
contains a routing number guide that
assists banks in identifying local and
nonlocal banks and thereby determining
the maximum permissible hold periods
for most deposited checks. The
appendix includes a list of each Federal
Reserve check processing office and the
first four digits of the routing number,
known as the Federal Reserve routing
symbol, of each bank that is served by
that office for check processing
purposes. Banks whose Federal Reserve
routing symbols are grouped under the
same office are in the same check
processing region and thus are local to
one another.
Final Amendments to Appendix A
In the aftermath of Hurricane Katrina,
the Federal Reserve Bank of Atlanta
implemented its contingency operations
plan, which included sending checks
that normally would be processed by
the New Orleans branch office instead
to the Atlanta head office on a
temporary basis. On December 5, 2005,
the Federal Reserve Banks announced
that banks with routing symbols
currently assigned to the New Orleans
branch office for check processing
purposes would be reassigned to the
Atlanta head office and that the New
Orleans branch permanently would
cease its check processing operations,
1 For purposes of Regulation CC, the term ‘‘bank’’
refers to any depository institution, including
commercial banks, savings institutions, and credit
unions.
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17:05 Dec 16, 2005
Jkt 208001
effective March 31, 2006.2 As a result,
some checks that are drawn on and
deposited at banks located in the
affected check processing regions and
that currently are nonlocal checks will
become local checks subject to faster
availability schedules. To assist banks
in identifying local and nonlocal checks
and making funds availability decisions,
the Board is amending the lists of
routing symbols associated with the
Federal Reserve Bank of Atlanta to
reflect the transfer of check-processing
operations from the Reserve Bank’s New
Orleans branch office to its head office
in Atlanta. To coincide with the
effective date of the underlying check
processing changes, these amendments
are effective March 31, 2006. The Board
is providing advance notice of these
amendments to give affected banks
ample time to make any needed
processing changes. The advance notice
also will enable affected banks to amend
their availability schedules and related
disclosures if necessary and provide
their customers with notice of these
changes.3
The Reserve Banks had previously
announced on August 2, 2004, that the
check-processing operations of the
Atlanta Reserve Bank’s Nashville branch
office would be transferred to the
Atlanta Reserve Bank’s head office by
early 2006.4 However, because of the
permanent transfer of the New Orleans
branch office’s check-processing
operations to the Atlanta head office,
the transfer of the Nashville branch
office’s check-processing operations to
the Atlanta head office will be delayed
until 2007.
The Board also is making technical
amendments to the list of routing
symbols associated with the Helena
branch office of the Federal Reserve
Bank of Minnesota to correct
typographical errors in the list. The lists
of Federal Reserve routing symbols
assigned to all other Federal Reserve
branches and offices will remain the
same at this time.
Information About Future Changes to
Appendix A
As the Federal Reserve Banks
announced on May 25, 2005,5 in
response to the continued nationwide
2 The Reserve Banks’ press release is available at
https://www.frbservices.org/Retail/pdf/
PRNewOrleansPressRelease120505.pdf.
3 Section 229.18(e) of Regulation CC requires that
banks notify account holders who are consumers
within 30 days after implementing a change that
improves the availability of funds.
4 See 69 FR 57837, September 28, 2004.
5 The Reserve Banks’ press release is available at
https://www.frbservices.org/Retail/pdf/
May2005FRBanksAnnounceChanges
IncreaseEfficiency.pdf.
PO 00000
Frm 00005
Fmt 4700
Sfmt 4700
decline in check usage and to position
themselves more effectively to meet the
cost recovery requirements of the
Monetary Control Act of 1980, the
Reserve Banks have decided to stop
processing checks at the East Rutherford
office of the Federal Reserve Bank of
New York. Checks currently processed
by that office instead will be processed
at the head office of the Federal Reserve
Bank of Philadelphia. Although an exact
date for this restructuring has not been
determined, it is expected to take place
in the latter half of 2006.
The Board intends to publish
amendments to appendix A in
connection with this restructuring to
delete the reference to the East
Rutherford office of the Federal Reserve
Bank of New York and transfer the
affected Federal Reserve routing
symbols to the head office of the Federal
Reserve Bank of Philadelphia at least 60
days prior to the effective date of the
restructuring. This should give affected
banks ample time to make appropriate
programming changes and, if necessary,
to amend their availability schedules
and related disclosures and provide
their customers with notice of any
changes to their availability schedules.
However, some affected banks might
prefer to make or to plan for their
necessary programming and availability
changes prior to the effective dates of
the relevant amendments. For the
information and planning needs of
affected banks, the Board today is
providing advance notice that, as of the
effective date of this restructuring,
banks with the following Federal
Reserve routing symbols will be local to
the Philadelphia head office:
0210
0212
0214
0215
0216
0219
0260
0280
0310
0311
0312
0313
0319
0360
2210
2212
2214
2215
2216
2219
2260
2280
2310
2311
2312
2313
2319
2360
The Federal Reserve routing symbols
assigned to all other Federal Reserve
branches and offices will be unaffected
by this restructuring.
Administrative Procedure Act
The Board has not followed the
provisions of 5 U.S.C. 553(b) relating to
notice and public participation in
connection with the adoption of the
final rule. All the revisions to the
appendix are technical in nature, and
the routing symbol revisions for the
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75000
Federal Register / Vol. 70, No. 242 / Monday, December 19, 2005 / Rules and Regulations
Sixth District are required by the
statutory and regulatory definitions of
‘‘check-processing region.’’ Because
there is no substantive change on which
to seek public input and because
delaying the amendments may impede
affected banks’ ability to comply with
Regulation CC, the Board has
determined that the § 553(b) notice and
comment procedures are unnecessary.
Regulatory Flexibility Act Certification
Pursuant to section 605(b) of the
Regulatory Flexibility Act (5 U.S.C.
605(b)), the Board certifies that the final
rule will not have a significantly
adverse economic impact on a
substantial number of small entities.
These amendments are technical, and
the routing number changes are required
by law. Moreover, these amendments
apply to all banks regardless of their
size. Many small banks generally
provide next-day availability for all
checks and will not be affected by this
amendment. For the subset of small
banks that does distinguish between
checks subject to next-day availability
and those subject to longer holds, the
final rule should necessitate only
minimal programming changes. Some of
these affected banks might also have to
modify their funds availability
disclosures and notify both new and
existing customers of the modified
funds availability schedules.
Paperwork Reduction Act
In accordance with the Paperwork
Reduction Act of 1995 (44 U.S.C. 3506;
5 CFR part 1320 Appendix A.1), the
Board has reviewed the final rule under
authority delegated to the Board by the
Office of Management and Budget. This
technical amendment to appendix A of
Regulation CC will delete the reference
to the New Orleans branch office of the
Federal Reserve Bank of Atlanta and
reassign the routing symbols listed
under that office to the head office of
the Federal Reserve Bank of Atlanta.
The depository institutions that are
located in the affected check processing
regions and that include the routing
numbers in their disclosure statements
would be required to notify customers
of the resulting change in availability
under § 229.18(e). However, all
paperwork collection procedures
associated with Regulation CC already
are in place, and the Board accordingly
anticipates that no additional burden
will be imposed as a result of this
rulemaking. The Board is also correcting
typographical errors in the routing
symbol list under the Helena branch
office of the Federal Reserve Bank of
Minnesota. The Board anticipates that
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17:05 Dec 16, 2005
Jkt 208001
these corrections will not impose any
burden.
List of Subjects in 12 CFR Part 229
Banks, Banking, Reporting and
recordkeeping requirements.
Authority and Issuance
For the reasons set forth in the
preamble, the Board is amending 12
CFR part 229 to read as follows:
I
PART 229—AVAILABILITY OF FUNDS
AND COLLECTION OF CHECKS
(REGULATION CC)
1. The authority citation for part 229
continues to read as follows:
I
Authority: 12 U.S.C. 4001–4010, 12 U.S.C.
5001–5018.
2. The Sixth and Ninth Federal
Reserve District routing symbol lists in
appendix A are revised to read as
follows:
I
Appendix A to Part 229—Routing
Number Guide to Next-Day Availability
Checks and Local Checks
*
*
*
*
*
Sixth Federal Reserve District
[Federal Reserve Bank of Atlanta]
Head Office
0610
0611
0612
0613
0620
0621
0622
0650
0651
0652
0653
0654
0655
2610
2611
2612
2613
2620
2621
2622
2650
2651
2652
2653
2654
2655
Jacksonville Branch
0630
0631
0632
0660
0670
2630
2631
2632
2660
2670
Nashville Branch
0640
0641
0642
2640
2641
2642
*
*
*
*
Head Office
0910
0911
0912
0913
0914
0915
0918
Frm 00006
2919
2960
Helena Branch
0920
0921
0929
*
*
*
2920
2921
2929
*
*
By order of the Board of Governors of the
Federal Reserve System, acting through the
Secretary of the Board under delegated
authority, December 13, 2005.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E5–7462 Filed 12–16–05; 8:45 am]
BILLING CODE 6210–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 23
[Docket No. CE236, Special Condition 23–
176–SC]
Special Conditions; Envoy Aerospace;
EFIS on the Raytheon Model B200,
B200C, 300, B300, and B300C;
Protection of Systems for High
Intensity Radiated Fields (HIRF)
Federal Aviation
Administration (FAA), DOT.
ACTION: Final special conditions; request
for comments.
AGENCY:
*
Ninth Federal Reserve District
[Federal Reserve Bank of Minneapolis]
PO 00000
0919
0960
2910
2911
2912
2913
2914
2915
2918
Fmt 4700
Sfmt 4700
SUMMARY: These special conditions are
issued to Envoy Aerospace, 5027 Switch
Grass Lane, Naperville, Illinois 60564–
5368, for a Supplemental Type
Certificate for the Raytheon B200,
B200C, 300, B300, and B300C models.
These models will have novel and
unusual design features when compared
to the state of technology envisaged in
the applicable airworthiness standards.
These novel and unusual design
features include the installation of an
electronic flight instrument system
(EFIS) and a navigation display. The
EFIS consists of the Universal Avionics,
Inc. EFI–890R system for which the
applicable regulations do not contain
adequate or appropriate airworthiness
standards for the protection of these
systems from the effects of high
intensity radiated fields (HIRF). The
installation includes three EFI–890R
Flat Panel Displays (two Primary Flight
Displays Pilot/Copilot and one
Navigational Display), and supporting
equipment. These special conditions
contain the additional safety standards
that the Administrator considers
necessary to establish a level of safety
equivalent to the airworthiness
standards applicable to these airplanes.
E:\FR\FM\19DER1.SGM
19DER1
]]>Agencies
[Federal Register Volume 70, Number 242 (Monday, December 19, 2005)]
[Rules and Regulations]
[Pages 74998-75000]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-7462]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
12 CFR Part 229
[Regulation CC; Docket No. R-1244]
Availability of Funds and Collection of Checks
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Final rule; technical amendment.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors is amending appendix A of Regulation CC
to delete the reference to the New Orleans branch office of the Federal
Reserve Bank of Atlanta and reassign the Federal Reserve routing
symbols currently listed under that office to the head office of the
Federal Reserve Bank of Atlanta, and to correct typographical errors in
the routing symbols listed under the Helena branch office of the
Federal Reserve Bank of Minneapolis. The Board also is providing notice
that the previously announced transfer of the Nashville branch office's
check-processing operations to the Atlanta head office will be delayed
until 2007. Finally, the Board is providing advance notice concerning
future appendix A changes affecting the Federal Reserve Bank of New
York and the Federal Reserve Bank of Philadelphia.
DATES: The amendment to appendix A under the Ninth Federal Reserve
District (Federal Reserve Bank of Minneapolis) is effective December
19, 2005. The amendment to appendix A under the Sixth Federal Reserve
District (Federal Reserve Bank of Atlanta) is effective on March 31,
2006.
FOR FURTHER INFORMATION CONTACT: Jack K. Walton II, Associate Director
(202/452-2660), or Joseph P. Baressi, Senior Financial Services Analyst
(202/452-3959), Division of Reserve Bank
[[Page 74999]]
Operations and Payment Systems; or Adrianne G. Threatt, Counsel (202/
452-3554), Legal Division. For users of Telecommunications Devices for
the Deaf (TDD) only, contact 202/263-4869.
SUPPLEMENTARY INFORMATION:
Background
Regulation CC establishes the maximum period a depositary bank may
wait between receiving a deposit and making the deposited funds
available for withdrawal.\1\ A depositary bank generally must provide
faster availability for funds deposited by a ``local check'' than by a
``nonlocal check.'' A check drawn on a bank is considered local if it
is payable by or at a bank located in the same Federal Reserve check
processing region as the depositary bank. A check drawn on a nonbank is
considered local if it is payable through a bank located in the same
Federal Reserve check processing region as the depositary bank. Checks
that do not meet the requirements for ``local'' checks are considered
``nonlocal.''
---------------------------------------------------------------------------
\1\ For purposes of Regulation CC, the term ``bank'' refers to
any depository institution, including commercial banks, savings
institutions, and credit unions.
---------------------------------------------------------------------------
Appendix A to Regulation CC contains a routing number guide that
assists banks in identifying local and nonlocal banks and thereby
determining the maximum permissible hold periods for most deposited
checks. The appendix includes a list of each Federal Reserve check
processing office and the first four digits of the routing number,
known as the Federal Reserve routing symbol, of each bank that is
served by that office for check processing purposes. Banks whose
Federal Reserve routing symbols are grouped under the same office are
in the same check processing region and thus are local to one another.
Final Amendments to Appendix A
In the aftermath of Hurricane Katrina, the Federal Reserve Bank of
Atlanta implemented its contingency operations plan, which included
sending checks that normally would be processed by the New Orleans
branch office instead to the Atlanta head office on a temporary basis.
On December 5, 2005, the Federal Reserve Banks announced that banks
with routing symbols currently assigned to the New Orleans branch
office for check processing purposes would be reassigned to the Atlanta
head office and that the New Orleans branch permanently would cease its
check processing operations, effective March 31, 2006.\2\ As a result,
some checks that are drawn on and deposited at banks located in the
affected check processing regions and that currently are nonlocal
checks will become local checks subject to faster availability
schedules. To assist banks in identifying local and nonlocal checks and
making funds availability decisions, the Board is amending the lists of
routing symbols associated with the Federal Reserve Bank of Atlanta to
reflect the transfer of check-processing operations from the Reserve
Bank's New Orleans branch office to its head office in Atlanta. To
coincide with the effective date of the underlying check processing
changes, these amendments are effective March 31, 2006. The Board is
providing advance notice of these amendments to give affected banks
ample time to make any needed processing changes. The advance notice
also will enable affected banks to amend their availability schedules
and related disclosures if necessary and provide their customers with
notice of these changes.\3\
---------------------------------------------------------------------------
\2\ The Reserve Banks' press release is available at https://
www.frbservices. org/Retail/pdf/PRNewOrleans PressRelease120505.pdf.
\3\ Section 229.18(e) of Regulation CC requires that banks
notify account holders who are consumers within 30 days after
implementing a change that improves the availability of funds.
---------------------------------------------------------------------------
The Reserve Banks had previously announced on August 2, 2004, that
the check-processing operations of the Atlanta Reserve Bank's Nashville
branch office would be transferred to the Atlanta Reserve Bank's head
office by early 2006.\4\ However, because of the permanent transfer of
the New Orleans branch office's check-processing operations to the
Atlanta head office, the transfer of the Nashville branch office's
check-processing operations to the Atlanta head office will be delayed
until 2007.
---------------------------------------------------------------------------
\4\ See 69 FR 57837, September 28, 2004.
---------------------------------------------------------------------------
The Board also is making technical amendments to the list of
routing symbols associated with the Helena branch office of the Federal
Reserve Bank of Minnesota to correct typographical errors in the list.
The lists of Federal Reserve routing symbols assigned to all other
Federal Reserve branches and offices will remain the same at this time.
Information About Future Changes to Appendix A
As the Federal Reserve Banks announced on May 25, 2005,\5\ in
response to the continued nationwide decline in check usage and to
position themselves more effectively to meet the cost recovery
requirements of the Monetary Control Act of 1980, the Reserve Banks
have decided to stop processing checks at the East Rutherford office of
the Federal Reserve Bank of New York. Checks currently processed by
that office instead will be processed at the head office of the Federal
Reserve Bank of Philadelphia. Although an exact date for this
restructuring has not been determined, it is expected to take place in
the latter half of 2006.
---------------------------------------------------------------------------
\5\ The Reserve Banks' press release is available at https://
www.frbservices.org/ Retail/pdf/May2005FRBanks AnnounceChanges
IncreaseEfficiency.pdf.
---------------------------------------------------------------------------
The Board intends to publish amendments to appendix A in connection
with this restructuring to delete the reference to the East Rutherford
office of the Federal Reserve Bank of New York and transfer the
affected Federal Reserve routing symbols to the head office of the
Federal Reserve Bank of Philadelphia at least 60 days prior to the
effective date of the restructuring. This should give affected banks
ample time to make appropriate programming changes and, if necessary,
to amend their availability schedules and related disclosures and
provide their customers with notice of any changes to their
availability schedules. However, some affected banks might prefer to
make or to plan for their necessary programming and availability
changes prior to the effective dates of the relevant amendments. For
the information and planning needs of affected banks, the Board today
is providing advance notice that, as of the effective date of this
restructuring, banks with the following Federal Reserve routing symbols
will be local to the Philadelphia head office:
0210 2210
0212 2212
0214 2214
0215 2215
0216 2216
0219 2219
0260 2260
0280 2280
0310 2310
0311 2311
0312 2312
0313 2313
0319 2319
0360 2360
The Federal Reserve routing symbols assigned to all other Federal
Reserve branches and offices will be unaffected by this restructuring.
Administrative Procedure Act
The Board has not followed the provisions of 5 U.S.C. 553(b)
relating to notice and public participation in connection with the
adoption of the final rule. All the revisions to the appendix are
technical in nature, and the routing symbol revisions for the
[[Page 75000]]
Sixth District are required by the statutory and regulatory definitions
of ``check-processing region.'' Because there is no substantive change
on which to seek public input and because delaying the amendments may
impede affected banks' ability to comply with Regulation CC, the Board
has determined that the Sec. 553(b) notice and comment procedures are
unnecessary.
Regulatory Flexibility Act Certification
Pursuant to section 605(b) of the Regulatory Flexibility Act (5
U.S.C. 605(b)), the Board certifies that the final rule will not have a
significantly adverse economic impact on a substantial number of small
entities. These amendments are technical, and the routing number
changes are required by law. Moreover, these amendments apply to all
banks regardless of their size. Many small banks generally provide
next-day availability for all checks and will not be affected by this
amendment. For the subset of small banks that does distinguish between
checks subject to next-day availability and those subject to longer
holds, the final rule should necessitate only minimal programming
changes. Some of these affected banks might also have to modify their
funds availability disclosures and notify both new and existing
customers of the modified funds availability schedules.
Paperwork Reduction Act
In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C.
3506; 5 CFR part 1320 Appendix A.1), the Board has reviewed the final
rule under authority delegated to the Board by the Office of Management
and Budget. This technical amendment to appendix A of Regulation CC
will delete the reference to the New Orleans branch office of the
Federal Reserve Bank of Atlanta and reassign the routing symbols listed
under that office to the head office of the Federal Reserve Bank of
Atlanta. The depository institutions that are located in the affected
check processing regions and that include the routing numbers in their
disclosure statements would be required to notify customers of the
resulting change in availability under Sec. 229.18(e). However, all
paperwork collection procedures associated with Regulation CC already
are in place, and the Board accordingly anticipates that no additional
burden will be imposed as a result of this rulemaking. The Board is
also correcting typographical errors in the routing symbol list under
the Helena branch office of the Federal Reserve Bank of Minnesota. The
Board anticipates that these corrections will not impose any burden.
List of Subjects in 12 CFR Part 229
Banks, Banking, Reporting and recordkeeping requirements.
Authority and Issuance
0
For the reasons set forth in the preamble, the Board is amending 12 CFR
part 229 to read as follows:
PART 229--AVAILABILITY OF FUNDS AND COLLECTION OF CHECKS
(REGULATION CC)
0
1. The authority citation for part 229 continues to read as follows:
Authority: 12 U.S.C. 4001-4010, 12 U.S.C. 5001-5018.
0
2. The Sixth and Ninth Federal Reserve District routing symbol lists in
appendix A are revised to read as follows:
Appendix A to Part 229--Routing Number Guide to Next-Day Availability
Checks and Local Checks
* * * * *
Sixth Federal Reserve District
[Federal Reserve Bank of Atlanta]
Head Office
0610 2610
0611 2611
0612 2612
0613 2613
0620 2620
0621 2621
0622 2622
0650 2650
0651 2651
0652 2652
0653 2653
0654 2654
0655 2655
Jacksonville Branch
0630 2630
0631 2631
0632 2632
0660 2660
0670 2670
Nashville Branch
0640 2640
0641 2641
0642 2642
------------------------------------
* * * * *
Ninth Federal Reserve District
[Federal Reserve Bank of Minneapolis]
Head Office
0910 2910
0911 2911
0912 2912
0913 2913
0914 2914
0915 2915
0918 2918
0919 2919
0960 2960
------------------------------------
Helena Branch
0920 2920
0921 2921
0929 2929
* * * * *
By order of the Board of Governors of the Federal Reserve
System, acting through the Secretary of the Board under delegated
authority, December 13, 2005.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E5-7462 Filed 12-16-05; 8:45 am]
BILLING CODE 6210-01-P
