Regulatory News

Financial Services & Operations

 
 
Date Title Category
December 5, 2014 Payment System Risk

Changes to the posting rules for ACH and commercial check transactions, part of amendments to the Federal Reserve Policy on Payment System Risk (PSR Policy), take effect upon today’s publication in the Federal Register. Companion amendments to Regulation J take effect July 23, 2015.

Operations
November 13, 2014 Payment System Risk

Amendments to the Federal Reserve Policy on Payment System Risk (PSR Policy), published today in the Federal Register and designed to reflect prevailing international risk-management standards for financial market infrastructures, take effect December 31, 2014. Companion amendments to Regulation HH establish a common set of risk-management standards for systemically important financial market utilities. Those amendments also take effect December 31, 2014.

Operations
Date Title Category
December 12, 2013 Regulation CC

A new proposed rule would subject electronic checks and electronic returned checks to Regulation CC’s check collection and return provisions, unless otherwise agreed by the sending and receiving banks. The deadline for public comment is May 2, 2014.

Operations
December 10, 2013 Regulation J

A new proposed rule, published today in the Federal Register, would allow Reserve Banks to require paying banks receiving presentment of checks from Reserve Banks to make proceeds of settlement available to Reserve Banks in as few as 30 minutes after receipt of the checks. The deadline for public comment is February 10, 2014.

Operations
November 6, 2013 Priced Services

The new fee schedules for priced services, published today in the Federal Register, take effect January 2, 2014, and will be available at www.frbservices.org.

Operations
Date Title Category
July 27, 2012 Regulation II

Under newly approved amendments to Reg. II, debit card issuers can receive fraud-prevention adjustments if they develop, implement, and maintain policies and procedures designed to reduce the occurrence and costs of fraudulent debit card transactions. The amended rule takes effect October 1.

Operations
April 12, 2012 Regulation J

A new final rule, published today in the Federal Register, eliminates references to as-of adjustments, clarifies the application of Regulation J to Fedwire funds transfers, and clarifies rules related to Reserve Bank handling of checks. These amendments take effect July 12, 2012.

Operations
Date Title Category
April 14, 2011 Regulation Q

As required by the Dodd-Frank Act, the Board has proposed to repeal its Regulation Q, which prohibits the payment of interest on demand deposits by Federal Reserve member institutions. Public comments on the proposal, which has just been published in the Federal Register, are due May 16.

Operations
March 3, 2011 Regulation CC

Under a proposed amendment to Regulation CC, depositary banks would be entitled to expeditious return of checks only if they agree to receive returned checks electronically and paying banks would be allowed to require electronic presentment of checks presented for same-day settlement. The amendment would also shorten the safe-harbor period for an exception hold to four business days. Public comments on the proposal are due June 3.

Operations
Date Title Category
December 31, 2009 Regulation CC

The Federal Reserve Board has approved amendments to Appendix A of Regulation CC that reflect the restructuring of the Federal Reserve Banks’ check-processing operations.

Operations
November 6, 2009 Regulation CC

On December 12, check-processing operations will move from the head office of the Federal Reserve Bank of Philadelphia to the head office of the Federal Reserve Bank of Cleveland. Changes to Reg. CC’s Appendix A reflecting this change will take effect at that time.

Operations
November 3, 2009 Payment Services

The 2010 fee schedule for priced services, effective January 4, is now available.

Operations
July 14, 2009 Check-processing Operations

Appendix A to Regulation CC now reflects the fact that the Chicago Fed's check-processing operations have moved to the Cleveland Fed.

Operations
April 28, 2009 Changes to OC 12

On June 4, 2009, new technical amendments to Operating Circular 12 will take effect. Among the changes, Appendix C will address National Settlement Service access for FedLine Direct ® users and Appendix B will list the security documentation relevant to FedLine Direct ®.

Operations
March 31, 2009 Proposed PSAF Changes

Because of changes resulting from the recent implementation of interest payments on reserve balances, the Federal Reserve has proposed changes to the way private sector adjustment factor is calculated. Public comments are due in late May.

Operations
March 31, 2009 Operating Circular Changes

The Federal Reserve has revised two of the appendices to Operating Circular 4.

Operations
February 17, 2009 Restructuring of Check-processing Operations

The Federal Reserve Board has approved amendments to Appendix A of Regulation CC that reflect the restructuring of the Federal Reserve's check processing operations in the Third and Fifth Districts.

Operations