The new cheques are to be known as "Certified Deposit" traveller's cheques and money orders, the cheques and money orders each being in standard form, varying only as io the names and addresses of the issuing banks and the facsimile signatures of the authorized officers of the respective banks. Each cheque and money order will carry the official seal of the F.D.LC. as applicable to the member bank's own imprint and to the particular traveller's cheque or money Order upon which it appears. Each instrument will also state that it is payable at par by the issuing bank and collectible through the Federal Reserve System.
The new system enables the F.D.LC. banks to retain the entire face amount of the instruments issued, and they will profit by the use of such funds instead of having to remit them to an Outside issuer for the latter's own use.
Secured Negotiabjp Instruments will distribute circular containing data concerning "Certified Deposit" traveller's cheques and money orders together with specimen instruments to banks, hotels, transportation companies, principal gasoline filling stations and others throughout the world. Similar material will be distributed to United States Diplomatic and Consular offices as well as to United States Commercial Attaches and Trade" Commissions in all foreign July 7035-1054 Sept. 7132-1132 +44 Dec. 7234-72% +4
July 4950-493,
Text read from the printed page and cleaned; old type leaves the occasional error.