Look Before You Leap

And the Survey Says...

Weigh Your Options: Piles of Paper or One CD?

Three New Applications Improve Customer Service

District Shifts Coupon Processing to Dallas

ReserveNotes

Financial Page
Retail Payments: Fact or Fiction?

Get Up to Speed on TT&L Enhancements

Phone Line Delivers Check Information to Little Rock Bankers

Now Arkansas customers have a direct communication link to the Little Rock Check Department. We have added a special phone line to give you immediate access to the check information you need. To connect, call (501) 324-8300 or 1-800-482-9463. Dial 1 for the check menu and then press the number that corresponds with the service you want to request:

1 for dispatch time
2 for adjustments
3 for return items
4 for check manager
5 for account executive
0 for customer service representative

Pick Up Latest ACH Rule Book

NACHA's 2000 ACH Rules publication is now available. We strongly encourage all ACH participants to keep a copy on hand to reference the most current rules and regulations governing the ACH network.

MPX and SFE members will receive a complimentary copy in early January. Other institutions can order the publication from their regional ACH association, or through NACHA by calling 1-800-487-9180.

New Currency for the New Year

On Nov. 16, the U.S. Treasury unveiled new designs for the $10 and $5 bills. Like the changes made to the $20, $50 and $100 bills, the new designs incorporate security features intended to deter counterfeiting.

The Fed will begin circulating the redesigned notes in mid-2000. In the meantime, the Treasury, the Fed and other agencies will distribute materials to educate tellers and other cash handlers. They will also work with vending machine manufacturers and distributors to ensure their equipment accepts the new bills.

The older currency will retain its full face value as the new bills are gradually introduced. No decision has been made whether to redesign the $1 bill.

Sharing the spotlight in 2000 is the new one dollar coin, called the Golden Dollar. Its gold color, wide border and smooth edge distinguish this coin from the Susan B. Anthony dollar coin, which will be discontinued once the Golden Dollar is circulated. The U.S. Mint will begin shipping these coins to Reserve Banks during the first quarter.

Get a Hold of the Latest National Average Report

The results of the Federal Reserve's Functional Cost and Profit Analysis (FCA) program for 1998 are now available in the National Average Report (NAV). The NAV provides nationally averaged income and expense information based upon aggregate data from institutions that participated in the FCA program.

If you would like to know the average cost to make a loan, process a withdrawal, accept a deposit, or even the ratio of non-interest income to interest income, the NAV can help. Many financial institutions have used information contained in the NAV to measure performance and price products.

FCA participants receive a free copy of the NAV. Banks and credit unions can purchase a NAV for $150 per report. To order the NAV or find out more about the FCA program, call our FCA coordinator, Dan Horton, at (314) 444-8629.

Quicker Response Time for EDITH® Users

The Eighth District Interactive Telephone Helpline (EDITH®), our voice response system for financial services, recently received a major hardware and software upgrade. Although EDITH® customers will not notice any changes in the system's functionality, they will enjoy a faster rate of response when retrieving check totals and processing ACH returns and NOCs, TT&L advices of credit and cash orders.

This upgrade will provide better customer service as we cross the threshold into the new millennium. If you have any questions or would like to request access to EDITH® services, call the EDITH® Help Desk at (314) 444-8999 or 1-800-333-0871.

Reminder for Canadian Item Depositors

As a reminder, Canadian checks and Postal Money Orders should not be deposited in a mixed cash letter. Instead, items should be presented as non-cash collection items through a correspondent bank that has an international department.

If you regularly have a high volume of these items, you may want to consider depositing them via consolidated shipment to the Helena Branch of the Minneapolis Fed. This method is less cumbersome than other alternatives because it does not require you to make your own transportation arrangements.

For more information on the consolidated shipment deposit option, contact your local account executive or customer service representative, or see Page 8 of the Check Deposit Guide.

Calendar

TIP and PATAX Seminars This one-day training seminar explains the features and functions of TIP and PATAX, two new applications that will enhance the TT&L program in late 2000. St. Louis--Feb. 15 & 16 Memphis--Feb. 23 Little Rock and Louisville customers are encouraged to attend one of these sessions. Memphis Check Adjustments Workshops Each half-day workshop covers all aspects of check adjustments, from completing request forms to understanding how cases are researched and resolved. Further information will be sent to Memphis customers as the date approaches. March 9 Morning session-- 8:30 a.m. to 11:30 a.m. Afternoon session-- 1 p.m. to 4 p.m.

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