Regulatory News

Financial Services & 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
Date Title Category
November 18, 2008 Expedited Funds Availability

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.

Operations
November 6, 2008 Check Consolidation

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.

Operations
October 30, 2008 Payment Services

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

Operations
May 13, 2008 Regulatory News Expedited Funds Availability

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.

Operations
June 24, 2008 Regulatory News Electronic Collection and Return of 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.

Operations
July 15, 2008 Regulatory News Expedited Funds Availability

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.

Operations
August 11, 2008 Regulatory News Expedited Funds Availability

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.

Operations
September 8, 2008 Expedited Funds Availability

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.

Operations