Regional President Speech

i < ‘ t*V> R A T I O ! B A N K I H O If Opening the account (report at least oemi-Monthly.) 1. Participating bank. Become one upon receipt of signature card». Kurt immediately notify in writing state or dis­ trict office of OP A. (300 Broadway, Camden, K-J.) 2, Signature card &• Execution district office OPA in duplicate - mailed at least 2 monthly internal use (may require more) b. Identification Bank mist satisfy it »elf that applicant la the person he represents him self to be» If un&hle to do so, account should be left open, question of identity referred to district office of OPA. c. Corporate Resolutions and Documents authorising aooount designating individuals who may sign 3# Forms provided depositor a. Types I* ration checks II. deposit tickets b. Forms 50 cheoks,booki standard May mot hare depositors1 nsses printed on S$*eime*s shown in Appendix II. Acceptance It Froof of Deposits 1* Deposit tiek*ts a* Original retained by bank fe* DwjOieate, initialed lay t*Hex, to de­ positor* Deposit« be a***£ted pi^e*l lateer ▼•rlflea- Digitized for FRASER W m Mi; een^Uom I* lids 4gr*t& -m: http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis -2~ deposit ticket) 3# Proving and sorting 3a** as for dollar accounts. Up Error» In Deposit» Ac with $ accounts, infora depositor % Stamp & coupon deposit«. Must be mounted on gusmed sheets Depositor» name on each sheet Sheets will be furnished bank» for dig tribut ion to dep*u*tment by OFA Partially filled sheets may be accepted. Should not be cancelec in any way. 6. hfutilated »tamps or ooupons Acceptable if over 3 & Identity and rail dit y can be determined. 7. Ration check» deposited If on own bank, clear internally. If on other bank, through “Clearance* . 8 Other item» deposited Certificate» Acknowled^ants Seed not verify signatures Send to district OPA monthly,if reoeired before 15th Mod by 20th. 9* Expiration dates of deposited items Hast be valid to be acceptable. Return invalid items to depositor Refer objeetors to local board 10* Depositors1 endorsements All exoept sheets of stamps or coupons must be eo- dors*d. Cbeoks not transferable. 11* Bsmk Indorsements am Outgoing items l m those to OPA Must indieate date of deposit Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 12. Custody of stamps and coupons Cancel or under adequate control until cremated* 13« Cracuition of stamps & coupons* Twice each month. Must have % month*s accumulation cm hand at all times • Certification to cremation in monthly report* ni. Clearance (not through correspondents) 1* Local items a* Method Cleared as $ checks. Also may send checks drawn on correspondents to them directly* b. Transmittal letter Receipts for letters attached to duplicate letter 2* Out-of-town items Must be forwarded to Federal Reserve Book or branch* 3* Inspection of Ration checks* Cannot be returned by drawee bank, therefore should be thoroughly inspected* ¿* Ration checks received in clearance from other Banks. 5* Irregular items (e*g*f apparent fraud) seat to OPA for final disposition* 6* Missorted items Deduct from total of transmittal letter & receipt and returned. 7. Filing of transmittal letters receipts* a* Letters in open file till receipts are received* b* When received - attach - file - till further notice Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis -4- b. Incoming transmittal letters Make sure all incluaed in dayf s entries on the proof sheets* 9# Error changes in transmittal letters. IV. Depositors1 Accounts - bookkeeping 1. Suggestions <-• Maintain separate ledger accounts uia controls for each commodity. b. Post to the controls and depositors ledger daily. c. Prove ledgers at least semi-monthly including 15th of month. 2. Deposits a. After verification ,Jid proof, Post to credit of depositors account* File slips until released by OPA. 3# Ration checks If incorrect, communicate with DEA7.EF., do not send check back* If drawer refuses etc., enter in Miscellaneou. col. Mail items to district office of OPA including memo­ randum. Um Missing endorsements on checks received in clearing. a. Piiy b. Describe in letter to bank for confirmation When confirmed endorse -heck "Deposited in the account of the payee" 5« Special certification of ration Checks for Primary distributors Prepare voucher as debit ticket to account to re­ place check which will be retained by OPA. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 6* Adjuat*aot of ration Bank Account» Upon «pacific written instruction of OPA. 7* Overdraft» Ho&Dr ohack and report to OPA 11 ao r«port all outstKixdin^ on 15th 4 laat of month, il&o mail stataamta and ration cha<A* on acoounta that haya had orerdrfcXt during period to OPA. 3. Stop payment Only on ordar of OPA 9. I«ost ration ahacka ttaka notation. Latar, if original turnj up «acid to OPA with ex­ planation« 10. Ca&catfjktlon and filing. la with ordinary GkMM, *and to dapoaitor with atat tmmvi» LI* Stat ■Mrrta To dapoaitor at lae.at quarterly* L2. Cloaing of a.coo4istft* Only up$n notification of OPA Internal Control Proo^dura .X* Q^nmrmX Ad*quat* controls miat ba aatahliahad. TollWing 2* ahaai Debit * Credit at all ti*aa. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Karl R. Bopp (1932, December 31). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19330101_karl_r_bopp

@misc{wtfs_regional_speeche_19330101_karl_r_bopp,
  author = {Karl R. Bopp},
  title = {Regional President Speech},
  year = {1932},
  month = {Dec},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19330101_karl_r_bopp},
  note = {Retrieved via When the Fed Speaks corpus}
}