Circular
Operating 9 - Federal Tax Payments and Treasury Tax and Loan Depositaries
February 12, 1998
Circular No. 11025

Effective Date Set as March 5, 1998

To the Chief Executive Officers of All Depository Institutions and Others Concerned in the Second Federal Reserve District:

Late last year we sent you a binder containing our new Operating Circulars. As we noted at the time, these new Operating Circulars are uniform across all Federal Reserve Districts and are designed to facilitate the ability of financial institutions to do business with multiple Reserve Banks in an interstate branching environment.

While most of the new circulars became effective January 2, 1998, the effective date of Operating Circular No. 9, on Federal Tax Payments and Treasury Tax and Loan Depositaries, was delayed pending the Treasury's issuance of a revised regulation governing the TT&L Program (31 CFR Part 203). The revised regulation has been published in the Federal Register and becomes effective March 5, 1998 (see 63 F.R. 5643). Therefore, the effective date of Operating Circular No. 9 will be March 5, 1998.