Federal Reserve Board

FEDERAL RESERVE SYSTEM

[Docket No. R-1023]

Federal Reserve Bank Services

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice.

SUMMARY: The Board has approved fee schedules for Federal Reserve priced services and electronic connections and a Private Sector Adjustment Factor (PSAF) for 1999 of $115.8 million. These actions were taken pursuant to the requirements of the Monetary Control Act of 1980, which requires that, over the long run, fees for Federal Reserve priced services be established on the basis of all direct and indirect costs, including the PSAF.

DATES: The fee schedules become effective on January 4, 1999, with the exceptions noted below. For the Fedwire� funds transfer service, the volume-based transfer fees and off-line surcharges take effect on February 1, 1999. For the book-entry securities service, the new fee structure and levels become effective on February 1, 1999, and the change in the applicability of the account-maintenance fee takes effect on July 1, 1999. The PSAF becomes effective on January 4, 1999.

FOR FURTHER INFORMATION CONTACT: For questions regarding the fee schedules: Erik Kiefel, Financial Services Analyst, Check Payments, (202/721-4559); Wes Horn, Manager, ACH Payments, (202/452-2756); Stephen Cohen, Financial Services Analyst, Funds Transfer and Book-Entry Securities Services, (202/452-3480); Myriam Payne, Financial Services Analyst, Multilateral Settlement Services, (202/452-3219); Michael Bermudez, Financial Services Analyst, Noncash Collection Service, (202/452-2216); Kate Connor, Senior Financial Services Analyst, Special Cash Services, (202/452-3917); or Anne Paulin, Senior Information Technology Analyst (electronic connections), (202/452-2560), Division of Reserve Bank Operations and Payment Systems. For questions regarding the Private Sector Adjustment Factor: Martha Stallard, Senior Accountant, Division of Reserve Bank Operations and Payment Systems, (202/452-3758). For users of Telecommunications Device for the Deaf (TDD) only, please contact Diane Jenkins (202/452-3749).

Copies of the 1999 fee schedule for the check service are available from the Board or the Reserve Banks.

Notice (129 KB PDF)

1998 Banking and consumer regulatory policy


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