December 17, 1991
TO: BROKER/DEALER ADVISORY COMMITTEE NO. 45-91
TRANSFER AGENT ADVISORY COMMITTEE NO. 61-91
RE: CHECK AGING STUDY - MARCH, 1991
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Enclosed, for your review, is a copy of the Check Aging
Study which which was conducted by the Operations Committee for
the month of March, 1991. Also included is a summary of the data
collected from all of the Check Aging Studies that have been
conducted since July, 1980 - nine in all.
Please call if you have any questions.
Donald E. O'Connor
Vice President - Operations
Enclosure