The Federal Reserve Board has approved amendments to Appendix A of Regulation CC that reflect the restructuring of the Federal Reserve's check processing operations in the Sixth and Eighth Districts.
Appendix A provides a routing symbol guide that helps depository institutions determine the maximum permissible hold periods for most deposited checks.
As of July 19, 2008, the Memphis branch office of the Federal Reserve Bank of St. Louis no longer will process checks, and banks currently served by that office will be reassigned to the head office of the Federal Reserve Bank of Atlanta.
To ensure that the information in Appendix A accurately describes the structure of check processing operations within the Federal Reserve System, the final rule deletes the reference in Appendix A to the Memphis branch office of the Federal Reserve Bank of St. Louis and reassigns the routing numbers listed thereunder to the head office of the Federal Reserve Bank of Atlanta.
To coincide with the effective date of the underlying check processing changes, the amendments are effective July 19, 2008.
See the press release for full details.