Regional Check Processing Center

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Regional Check Processing Center (RCPC)

A Federal Reserve check processing operation that clears checks drawn on depository institutions located within a specified area. RCPCs expedite collection and settlement of checks within the area on an overnight basis.

Regional Check Processing Center

A center run by a Federal Reserve Bank that expedites the settlement of checks. A regional check processing center processes and delivers checks to the appropriate bank on the same day it receives them, which helps money move through the economy more smoothly. A regional check processing center handles corporate checks, personal checks, food stamps, money orders, and checks drawn on the U.S. Treasury.
References in periodicals archive ?
Pursuant to the Amendment, RCPC reduced the total aggregate principal amount outstanding under the 2011 Term Loan Facility from $788 million to $675 million, using proceeds from RCPC's recent consummation of its issuance of $500 million in aggregate principal amount of 5.
Gencarelli, a former RCPC executive, believes Dartington deserves attention because it is a high-quality European product, one of the few remaining companies that still manufactures in England, and is competitively priced.
Paul Murphy, co-director of RCPC, said: "I'm delighted to head up a team which already has such an excellent reputation in property management.
Suppose again that the Fed is considering closing an RCPC, but that no banks switch to other means of clearing checks.
The RCPC is a nursing generalist in the purest sense of the word.
RCPC expects that the new credit facilities will be for an aggregate amount of about $910 million, comprised of a $750 million term loan and a $160 million asset-based multi-currency revolving credit facility.
RCPC serves as a diagnostic clinic for pests and diseases and shall provide recommendation for its control and management.
As part of the previously announced Tender Offer, RCPC solicited consents from the holders of the Notes for certain proposed amendments (the "Proposed Amendments") that would eliminate substantially all of the restrictive covenants, certain events of default and related provisions contained in the indenture governing the Notes (the "Indenture").
Consumer sales at RCPC USA did not develop during 2008 as anticipated at year end 2007; however, consumer product sales at Ronson Corporation of Canada did grow and materialize as anticipated.
RCPC intends to use the net proceeds from the offering to: (i) pay the tender offer consideration, including applicable consent payments, in connection with RCPC's previously-announced cash tender offer to purchase any and all of the $330 million outstanding aggregate principal amount of its 9th% Senior Secured Notes due November 2015 (the "9th% Senior Secured Notes"); (ii) pay the applicable premium and accrued interest, along with related fees and expenses, on the 9th% Senior Secured Notes that are subsequently redeemed by RCPC following the tender offer; (iii) pay applicable fees and expenses incurred in connection with the offering, the tender offer and any redemption; and (iv) use the remaining balance available for general corporate purposes, including to pay an approximately $19.
A substantial portion of the additional working capital has been used for the construction of the new RAI hangar and new developments at RCPC.
RCPC plans to work closely with department and specialty stores.