The Federal Reserve's Check Adjustment units have updated their Standard Operating Procedures (SOPs). The new SOPs went into effect May 1.

The changes were implemented to improve our consistency in the receipt, research and resolution of adjustment requests. The revised SOPs include changes to the time frames for submitting adjustment requests to encourage timely reporting and prompt resolution of those requests. The new SOPs also improve consistency among Reserve Banks that handle adjustment cases and reduce unnecessary Documents To Follow (DTF).

Additionally, a $15 adjustment request threshold will become effective on July 16. As of this date, your Federal Reserve Check Adjustment unit is no longer accepting adjustment cases with a value of $15 or less.

More information regarding changes to the SOPs can be found online in the May 2001 Check Adjustments Quick Reference Guide at www.frbservices.org/Checks/frChecks.cfm or by contacting your local account executive.