Board of Governors of the Federal Reserve System

The Federal Reserve Board on Tuesday announced the approval of fee schedules, effective January 1, 2016, for payment services the Federal Reserve Banks provide to depository institutions (priced services).

The Reserve Banks project that they will recover 101.9 percent of their priced services costs in 2016. The Reserve Banks expect to fully recover actual and imputed expenses, and earn a profit that is above their targeted return. Overall, the Reserve Banks estimate that the price changes will result in a 2.7 percent average price increase. The Reserve Banks estimate that check prices will increase an average of 0.5 percent, FedACH^® prices will increase an average of 6.5 percent, and Fedwire^® Funds prices will increase an average of 5.8 percent. The FedACH and Fedwire Funds price increases reflect cost increases associated with major technology upgrades. The fees will remain unchanged for the Reserve Banks' National Settlement Service and priced Fedwire Securities Service. The Reserve Banks estimate that FedLine^® prices will increase an average of 1.5 percent.

The 2016 fee schedule for each of the priced services is available on the Federal Reserve Banks' financial services website at FRBservices.org .

Lastly, the Board approved the 2016 private-sector adjustment factor (PSAF) of $13.1 million for Reserve Bank priced services The PSAF is an allowance for income taxes and other imputed expenses that would have been paid and profits that would have been earned if the Reserve Banks' priced services were provided by a private business. The Monetary Control Act of 1980 requires that the Federal Reserve establish fees to recover the costs of providing priced services, including the PSAF, over the long run, to promote competition between the Reserve Banks and private-sector service providers.

The Board's Federal Register notice is attached.

Federal Register notice: HTML | PDF

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