Electronic Circulars
April 13, 1999
Circular No. 11147

To the Chief Executive Officers of All Depository Institutions in the Second Federal Reserve District:

On June 1, 1999, the Federal Reserve Bank of New York will put into operation a faster, easier, and more effective way for you, and others in your institution, to obtain and act on our circulars.

Under the new system, we will transmit to you an e-mail message summarizing each circular as it is issued. Then, by getting onto our web site, you will be able to read the full text of the circular and its enclosures as well as link to related web sites. You also will be able to print as many or as few of these materials as you wish. If you have an internal e-mail network, you can electronically forward the alert to those in your institution most directly involved in the matter. If the circular includes a request for information or comments, or if you have any questions about the circular, you will be able to send a reply by return e-mail. You, and anyone else in your organization, may subscribe to this service. It is free, and we encourage you to sign up now.

The only requirements are that you have access to our web site and the ability to receive e-mail messages from outside your organization.

It's our intent to reduce the amount of paper we send and the volume of mail you receive. After you subscribe, you will continue to receive circulars by mail for a number of months. By the end of the year, delivery of the physical circulars will be discontinued.

In order to subscribe to this service, go to Circular Alert Service. You will be asked for your name, e-mail address, and title, the name and mailing address of your organization, and your telephone number. (A sample showing what the form looks like is enclosed.)

To recap, here are some of the benefits of this new service:

Immediate notification - As soon as we publish a circular on our web site, subscribers to the service will be alerted and will be able to access it.

The right persons will always be notified - Anyone in your organization can subscribe. If you have an internal e-mail network, you also can forward the alert electronically to anyone else in your organization.

Elimination of "junk mail" - The subscriber determines how much documentation to access, or whether to access it at all.

Easier to respond - You will be able to respond to circulars, raise questions, or transmit comments, all by return e-mail, if you wish.

Change subscribers or unsubscribe at any time - It is as easy, and as quick, as subscribing to the service.

The service is free.

If you have any questions, please contact Margaret Carmody, Public Information Officer.