The Fed today announced it will be closing some of its check processing centers.

http://www.federalreserve.gov/boarddocs/press/other/2003/20030206/

Your bank, if affected, will receive notice before the "deed is done." This may present a compliance issue relative to your definition of local vs. non-local checks.

The First district isn't affected, so I'll wish the rest of you "good luck"!

Do you know the effective date of the change?

Couldn't find it in the press release, Lois. If I learn of it, I'll post it here. My guess is it will vary from center to center as the Fed is able to gear up to shift volume from one place to another. Each Reserve Bank will undoubtedly send out specifics as it approaches the change.

Other considerations -- courier schedules and routes; review of Fed vs. correspondent check collection.

The notice I got from the Dallas Fed said they would close the centers gradually beginning in '03 and finishing up by the end of '04.

Thanks for the notice John. So, I guess this will effect what we call a "local check." For instance the Omaha, NE office will be closing. I assume that routing number 1040 will no longer be applicable and we will get sucked into some other local number, ie., 1030, 1020, 1010, etc. This will cause the local check districts to change.

Columbia, SC is also on the hit list. Thanks, John, for the heads-up.

Milwaukee is on the list too. Thanks for the release, I can't wait to tell my boss this!

We are in the Richmond, Va main office region. I'm looking at the chart from the federal reserve - do I understand correctly that check processing will be moved to Baltimore, Md, which would mean we would go by the Baltimore region routing numbers in determining a local check? The Richmond office doe not appear to be closing.

Our local processing center (Louisville, KY) will be moving to Cincinnati, OH, which is the 4th FRB district as compared to the 3rd which we are currently in. I'm confused/concerned about what that is going to do to our Reg CC holds, but also our routing number. I'm sure we'll eventually hear something from the Federal Reserve.