Availability of Funds and Collection of Checks, 21245-21246 [E9-10507]

Download as PDF 21245 Rules and Regulations Federal Register Vol. 74, No. 87 Thursday, May 7, 2009 This section of the FEDERAL REGISTER contains regulatory documents having general applicability and legal effect, most of which are keyed to and codified in the Code of Federal Regulations, which is published under 50 titles pursuant to 44 U.S.C. 1510. The Code of Federal Regulations is sold by the Superintendent of Documents. Prices of new books are listed in the first FEDERAL REGISTER issue of each week. FEDERAL RESERVE SYSTEM 12 CFR Part 229 [Regulation CC; Docket No. R–1355] 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 (Board) is amending the routing number guide to next-day availability checks and local checks in Regulation CC to delete the reference to the Seattle branch office of the Federal Reserve Bank of San Francisco and to reassign the Federal Reserve routing symbols currently listed under that office to the Los Angeles branch office of the Federal Reserve Bank of San Francisco. The Board is also amending the routing number guide to delete the reference to the Denver branch office of the Federal Reserve Bank of Kansas City and to reassign the routing symbols currently listed under that office to the Los Angeles branch office of the Federal Reserve Bank of San Francisco and to the head office of the Federal Reserve Bank of Dallas. These amendments reflect the restructuring of checkprocessing operations within the Federal Reserve System. DATES: The effective date for amendatory instruction 2, amending 12 CFR Part 229 Appendix A is June 20, 2009, and the effective date for amendatory instruction 3, further amending 12 CFR Part 229 Appendix A is June 27, 2009. FOR FURTHER INFORMATION CONTACT: Jeffrey S. H. Yeganeh, Financial Services Manager (202/728–5801), or Joseph P. Baressi, Financial Services Project Leader (202/452–3959), Division of Reserve Bank Operations and Payment Systems; or Dena L. Milligan, Attorney VerDate Nov<24>2008 16:03 May 06, 2009 Jkt 217001 (202/452–3900), Legal Division. For users of Telecommunications Devices for the Deaf (TDD) only, contact 202/ 263–4869. SUPPLEMENTARY INFORMATION: 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 is considered local if it is payable by or at or through a bank located in the same Federal Reserve check-processing region as the depositary bank. 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 checkprocessing region and thus are local to one another. On June 20, 2009, the Reserve Banks will transfer the check-processing operations of the Seattle branch office of the Federal Reserve Bank of San Francisco to the Los Angeles branch office of the Federal Reserve Bank of San Francisco. On June 27, 2009, the Reserve Banks will transfer the checkprocessing operations of the Denver branch office of the Federal Reserve Bank of Kansas City to the Los Angeles branch office of the Federal Reserve Bank of San Francisco and to the head office of the Federal Reserve Bank of Dallas. As a result of these changes, 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 list of routing symbols in appendix A associated with the Federal Reserve Bank of San Francisco to reflect the transfer of check-processing operations from the Seattle branch office to the Los Angeles branch office. The Board is also amending the lists of routing symbols in appendix A associated with the Federal Reserve Banks of Kansas City, Dallas, and San Francisco to reflect the transfer of check-processing operations from the Denver branch office to the Los Angeles branch office and the Dallas head office. Specifically, the Denver branch office routing symbols formerly associated with the Salt Lake City branch office (1240, 1241, 1242, 1243, 3240, 3241, 3242, 3243) will be listed under the Los Angeles branch office, and the remainder of the Denver branch office routing symbols, including the routing symbols formerly associated with the Helena branch office (0920, 0921, 0929, 2920, 2921, 2929, 1020, 1021, 1022, 1023, 1070, 3020, 3021, 3022, 3023, 3070), will be listed under the Dallas head office. To coincide with the effective date of the underlying checkprocessing changes, the amendments to appendix A regarding the transfer of check-processing operations from Seattle to Los Angeles are effective June 20, 2009. The amendments to the appendix regarding the transfer of check-processing operations from Denver to Los Angeles and Dallas are effective June 27, 2009. The Board is providing notice of the amendments at this time to give affected banks ample time to make any needed processing changes. Early 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.2 1 For purposes of Regulation CC, the term ‘‘bank’’ refers to any depository institution, including commercial banks, savings institutions, and credit unions. 2 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. PO 00000 Frm 00001 Fmt 4700 Sfmt 4700 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. The revisions to appendix A are technical in nature and are required by the statutory and regulatory definitions of ‘‘check-processing region.’’ Because there is no substantive E:\FR\FM\07MYR1.SGM 07MYR1 21246 Federal Register / Vol. 74, No. 87 / Thursday, May 7, 2009 / Rules and Regulations change on which to seek public input, the Board has determined that the § 553(b) notice and comment procedures are unnecessary. In addition, the underlying consolidation of Federal Reserve Bank check-processing offices involves a matter relating to agency management, which is exempt from notice and comment procedures. Paperwork Reduction Act In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. 3506; 5 CFR 1320 Appendix A.1), the Board has reviewed the final rule under authority delegated to the Board by the Office of Management and Budget. The technical amendments to appendix A of Regulation CC will (i) delete the reference to the Seattle branch office of the Federal Reserve Bank of San Francisco and reassign the routing symbols listed under that office to the Los Angeles branch office of the Federal Reserve Bank of San Francisco, and (ii) delete the reference to the Denver branch office of the Federal Reserve Bank of Kansas City and reassign the routing symbols listed under that office to the Los Angeles branch office of the Federal Reserve Bank of San Francisco and to the head office of the Federal Reserve Bank of Dallas. 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. Appendix A to Part 229—Routing Number Guide to Next-Day Availability Checks and Local Checks * * * * * BILLING CODE 6210–01–P * * * * 3. Effective June 27, 2009, the Tenth, Eleventh, and Twelfth District routing symbol lists in appendix A are amended by removing the headings and listings for the Tenth Federal Reserve District and revising the listings for the Eleventh and Twelfth Federal Reserve Districts to read as follows: * * * * * DEPARTMENT OF TRANSPORTATION Federal Aviation Administration 14 CFR Part 39 Eleventh Federal Reserve District [Docket No. FAA–2008–1214; Directorate Identifier 2007–NM–259–AD; Amendment 39–15897; AD 2009–10–02] [Federal Reserve Bank of Dallas] RIN 2120–AA64 Head Office 0920 0921 0929 1010 1011 1012 1019 1020 1021 1022 1023 1030 1031 1039 1070 1110 1111 1113 1119 1120 1122 1123 1130 1131 1140 1149 1163 PART 229—AVAILABILITY OF FUNDS AND COLLECTION OF CHECKS (REGULATION CC) 1. The authority citation for part 229 continues to read as follows: ■ Jkt 217001 * ■ For the reasons set forth in the preamble, the Board is amending 12 CFR part 229 to read as follows: 16:03 May 06, 2009 3210 3211 3212 3213 3220 3221 3222 3223 3224 3230 3231 3232 3233 3250 3251 3252 * ■ VerDate Nov<24>2008 * 3211 3212 3213 3220 3221 3222 3223 3224 3230 3231 3232 3233 3240 3241 3242 3243 3250 3251 3252 By order of the Board of Governors of the Federal Reserve System, May 1, 2009. Jennifer J. Johnson, Secretary of the Board. [FR Doc. E9–10507 Filed 5–6–09; 8:45 am] Authority and Issuance 2. Effective June 20, 2009, the Twelfth District routing symbol list in appendix A is revised to read as follows: * Los Angeles Branch 1210 1211 1212 1213 1220 1221 1222 1223 1224 1230 1231 1232 1233 1250 1251 1252 Banks, Banking, Reporting and recordkeeping requirements. ■ * Twelfth Federal Reserve District [Federal Reserve Bank of San Francisco] List of Subjects in 12 CFR Part 229 Authority: 12 U.S.C. 4001–4010, 12 U.S.C. 5001–5018. * 1211 1212 1213 1220 1221 1222 1223 1224 1230 1231 1232 1233 1240 1241 1242 1243 1250 1251 1252 2920 2921 2929 3010 3011 3012 3019 3020 3021 3022 3023 3030 3031 3039 3070 3110 3111 3113 3119 3120 3122 3123 3130 3131 3140 3149 3163 Twelfth Federal Reserve District [Federal Reserve Bank of San Francisco] Los Angeles Branch PO 00000 1210 Frm 00002 3210 Fmt 4700 Sfmt 4700 Airworthiness Directives; BAE Systems (Operations) Limited (Jetstream) Model 4101 Airplanes AGENCY: Federal Aviation Administration (FAA), Department of Transportation (DOT). ACTION: Final rule. SUMMARY: The FAA is superseding an existing airworthiness directive (AD), which applies to all BAE Systems (Operations) Limited (Jetstream) Model 4101 airplanes. That AD currently requires operators to determine the number of flight cycles accumulated on each component of the main landing gear (MLG) and the nose landing gear (NLG), and to replace each component that reaches its life limit with a serviceable component. The existing AD also requires operators to revise the Airworthiness Limitations (AWL) section of the Instructions for Continued Airworthiness (ICA) in the aircraft maintenance manual to reflect the new life limits for structurally significant items. This new AD requires a new revision of the AWL section of the ICA to incorporate revised life limits for structurally significant items, E:\FR\FM\07MYR1.SGM 07MYR1

Agencies

[Federal Register Volume 74, Number 87 (Thursday, May 7, 2009)]
[Rules and Regulations]
[Pages 21245-21246]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-10507]



========================================================================
Rules and Regulations
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains regulatory documents 
having general applicability and legal effect, most of which are keyed 
to and codified in the Code of Federal Regulations, which is published 
under 50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by the Superintendent of Documents. 
Prices of new books are listed in the first FEDERAL REGISTER issue of each 
week.

========================================================================


Federal Register / Vol. 74, No. 87 / Thursday, May 7, 2009 / Rules 
and Regulations

[[Page 21245]]



FEDERAL RESERVE SYSTEM

12 CFR Part 229

[Regulation CC; Docket No. R-1355]


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 (Board) is amending the routing number 
guide to next-day availability checks and local checks in Regulation CC 
to delete the reference to the Seattle branch office of the Federal 
Reserve Bank of San Francisco and to reassign the Federal Reserve 
routing symbols currently listed under that office to the Los Angeles 
branch office of the Federal Reserve Bank of San Francisco. The Board 
is also amending the routing number guide to delete the reference to 
the Denver branch office of the Federal Reserve Bank of Kansas City and 
to reassign the routing symbols currently listed under that office to 
the Los Angeles branch office of the Federal Reserve Bank of San 
Francisco and to the head office of the Federal Reserve Bank of Dallas. 
These amendments reflect the restructuring of check-processing 
operations within the Federal Reserve System.

DATES: The effective date for amendatory instruction 2, amending 12 CFR 
Part 229 Appendix A is June 20, 2009, and the effective date for 
amendatory instruction 3, further amending 12 CFR Part 229 Appendix A 
is June 27, 2009.

FOR FURTHER INFORMATION CONTACT: Jeffrey S. H. Yeganeh, Financial 
Services Manager (202/728-5801), or Joseph P. Baressi, Financial 
Services Project Leader (202/452-3959), Division of Reserve Bank 
Operations and Payment Systems; or Dena L. Milligan, Attorney (202/452-
3900), Legal Division. For users of Telecommunications Devices for the 
Deaf (TDD) only, contact 202/263-4869.

SUPPLEMENTARY INFORMATION: 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 is considered 
local if it is payable by or at or through a bank located in the same 
Federal Reserve check-processing region as the depositary bank.
---------------------------------------------------------------------------

    \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.
    On June 20, 2009, the Reserve Banks will transfer the check-
processing operations of the Seattle branch office of the Federal 
Reserve Bank of San Francisco to the Los Angeles branch office of the 
Federal Reserve Bank of San Francisco. On June 27, 2009, the Reserve 
Banks will transfer the check-processing operations of the Denver 
branch office of the Federal Reserve Bank of Kansas City to the Los 
Angeles branch office of the Federal Reserve Bank of San Francisco and 
to the head office of the Federal Reserve Bank of Dallas. As a result 
of these changes, 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 list of 
routing symbols in appendix A associated with the Federal Reserve Bank 
of San Francisco to reflect the transfer of check-processing operations 
from the Seattle branch office to the Los Angeles branch office. The 
Board is also amending the lists of routing symbols in appendix A 
associated with the Federal Reserve Banks of Kansas City, Dallas, and 
San Francisco to reflect the transfer of check-processing operations 
from the Denver branch office to the Los Angeles branch office and the 
Dallas head office. Specifically, the Denver branch office routing 
symbols formerly associated with the Salt Lake City branch office 
(1240, 1241, 1242, 1243, 3240, 3241, 3242, 3243) will be listed under 
the Los Angeles branch office, and the remainder of the Denver branch 
office routing symbols, including the routing symbols formerly 
associated with the Helena branch office (0920, 0921, 0929, 2920, 2921, 
2929, 1020, 1021, 1022, 1023, 1070, 3020, 3021, 3022, 3023, 3070), will 
be listed under the Dallas head office. To coincide with the effective 
date of the underlying check-processing changes, the amendments to 
appendix A regarding the transfer of check-processing operations from 
Seattle to Los Angeles are effective June 20, 2009. The amendments to 
the appendix regarding the transfer of check-processing operations from 
Denver to Los Angeles and Dallas are effective June 27, 2009. The Board 
is providing notice of the amendments at this time to give affected 
banks ample time to make any needed processing changes. Early 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.\2\
---------------------------------------------------------------------------

    \2\ 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.
---------------------------------------------------------------------------

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. The revisions to appendix A are technical 
in nature and are required by the statutory and regulatory definitions 
of ``check-processing region.'' Because there is no substantive

[[Page 21246]]

change on which to seek public input, the Board has determined that the 
Sec.  553(b) notice and comment procedures are unnecessary. In 
addition, the underlying consolidation of Federal Reserve Bank check-
processing offices involves a matter relating to agency management, 
which is exempt from notice and comment procedures.

Paperwork Reduction Act

    In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. 
3506; 5 CFR 1320 Appendix A.1), the Board has reviewed the final rule 
under authority delegated to the Board by the Office of Management and 
Budget. The technical amendments to appendix A of Regulation CC will 
(i) delete the reference to the Seattle branch office of the Federal 
Reserve Bank of San Francisco and reassign the routing symbols listed 
under that office to the Los Angeles branch office of the Federal 
Reserve Bank of San Francisco, and (ii) delete the reference to the 
Denver branch office of the Federal Reserve Bank of Kansas City and 
reassign the routing symbols listed under that office to the Los 
Angeles branch office of the Federal Reserve Bank of San Francisco and 
to the head office of the Federal Reserve Bank of Dallas. 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.

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. Effective June 20, 2009, the Twelfth District routing symbol list in 
appendix A is revised to read as follows:

Appendix A to Part 229--Routing Number Guide to Next-Day Availability 
Checks and Local Checks

* * * * *

Twelfth Federal Reserve District

[Federal Reserve Bank of San Francisco]

Los Angeles Branch

                   1210                                 3210
                   1211                                 3211
                   1212                                 3212
                   1213                                 3213
                   1220                                 3220
                   1221                                 3221
                   1222                                 3222
                   1223                                 3223
                   1224                                 3224
                   1230                                 3230
                   1231                                 3231
                   1232                                 3232
                   1233                                 3233
                   1250                                 3250
                   1251                                 3251
                   1252                                 3252
 

* * * * *

0
3. Effective June 27, 2009, the Tenth, Eleventh, and Twelfth District 
routing symbol lists in appendix A are amended by removing the headings 
and listings for the Tenth Federal Reserve District and revising the 
listings for the Eleventh and Twelfth Federal Reserve Districts to read 
as follows:
* * * * *

Eleventh Federal Reserve District

[Federal Reserve Bank of Dallas]

Head Office

                   0920                                 2920
                   0921                                 2921
                   0929                                 2929
                   1010                                 3010
                   1011                                 3011
                   1012                                 3012
                   1019                                 3019
                   1020                                 3020
                   1021                                 3021
                   1022                                 3022
                   1023                                 3023
                   1030                                 3030
                   1031                                 3031
                   1039                                 3039
                   1070                                 3070
                   1110                                 3110
                   1111                                 3111
                   1113                                 3113
                   1119                                 3119
                   1120                                 3120
                   1122                                 3122
                   1123                                 3123
                   1130                                 3130
                   1131                                 3131
                   1140                                 3140
                   1149                                 3149
                   1163                                 3163
 

Twelfth Federal Reserve District

[Federal Reserve Bank of San Francisco]

Los Angeles Branch

                   1210                                 3210
                   1211                                 3211
                   1212                                 3212
                   1213                                 3213
                   1220                                 3220
                   1221                                 3221
                   1222                                 3222
                   1223                                 3223
                   1224                                 3224
                   1230                                 3230
                   1231                                 3231
                   1232                                 3232
                   1233                                 3233
                   1240                                 3240
                   1241                                 3241
                   1242                                 3242
                   1243                                 3243
                   1250                                 3250
                   1251                                 3251
                   1252                                 3252
 

* * * * *

    By order of the Board of Governors of the Federal Reserve 
System, May 1, 2009.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E9-10507 Filed 5-6-09; 8:45 am]
BILLING CODE 6210-01-P