Circular
Board Announces Restructuring of Check Processing in New York, Philadelphia and Cleveland Districts
January 3, 2008
Circular No. 11926

The Federal Reserve Board has approved amendments to Appendix A of Regulation CC that reflect the restructuring of the check processing operations of the Federal Reserve Banks of New York, Philadelphia, and Cleveland, and provided notice relating to future changes to Appendix A.

Appendix A provides a routing symbol guide that helps depository institutions determine the maximum permissible hold periods for most deposited checks.

To coincide with the effective date of the underlying reassignment of check processing functions, the amendments to Appendix A under the Federal Reserve Banks of New York and Cleveland that revise the listings for the Utica office and the Cleveland head office are effective February 23, 2008. The amendments to Appendix A under the Federal Reserve Banks of New York and Philadelphia that revise the listings for the Philadelphia head office and delete the remaining listings for the Utica office are effective March 29, 2008.

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