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.

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.

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.

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.

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.

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.

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

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

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 ®.

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

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.

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.

Federal Reserve check processing operations in Des Moines will move to Chicago on January 31. This will cause some formerly nonlocal checks to become local under Regulation CC's expedited availability rules.

Under an accelerated transition plan, the Cleveland Reserve Bank will become the single paper check processing and adjustments site and the Atlanta Reserve Bank will become the single electronic check processing site for the Federal Reserve System.

Next year's fee schedules for priced services are available.

Federal Reserve check processing operations in Memphis will move to Atlanta on July 19. This will cause some formerly nonlocal checks to become local under Regulation CC's expedited availability rules. The Reserve Banks have also accelerated their plans for reducing the number of locations that process checks.

Effective July 15, a bank that sends electronic data to a Reserve Bank for handling under Operating Circular No. 3 warrants that the data were captured from a check.

Federal Reserve check processing operations in Windsor Locks, Conn., will move to Philadelphia on Sept. 20. This will cause some formerly nonlocal checks to become local under Regulation CC's expedited availability rules.

Federal Reserve check processing operations in Cincinnati will move to Cleveland on October 18. This will cause some formerly nonlocal checks to become local under Regulation CC's expedited availability rules.

Federal Reserve check processing operations in Jacksonville will move to Atlanta on November 15. This will cause some formerly nonlocal checks to become local under Regulation CC's expedited availability rules.