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FedLine^® Access Solutions

FedLine^® access solution user authentication enhancements became effective April 30, 2012

May 15, 2012

As previously announced (PDF), in response to customer feedback and in an effort to more effectively and securely deliver our services, FedLine access solution user authentication will be upgraded over the next few years.

With this upgrade, Subscribers currently utilizing user IDs and passwords to access FedCash^® Services and/or Check Services via the FedLine Web^® access solution will be transitioned to upgraded FedLine credentials. The Federal Reserve Banks will identify impacted Subscribers and notify their respective End User Authorization Contacts (EUACs) at the appropriate time to help ensure a smooth and timely transition.

As part of these upgrades, the changes noted below took effect April 30, 2012:

• All new FedCash Services Subscribers are issued FedLine security tokens, and all new Check Services Subscribers are issued digital certificates, unless the Subscriber has other services that require a FedLine security token.
• These changes will be applied if current FedCash Services or Check Services Subscribers request changes or updates to their existing credentials.  
• The Event Tracker Report, which allows self-service EUACs to generate a credential issuance and maintenance activity report, now provides information in real-time. Additionally, the Subscriber and Roles Report will detail Subscribers’ service access in real-time.
• A new Certification Practice Statement is in effect for FedLine Web and FedLine Advantage^® credentials issued on or after April 30, 2012. This statement describes the policies and practices of the Federal Reserve Banks’ Services Certificate Authority (FRBs’ Services CA). More information can be found on the Operating Circulars page.

For more information about FedLine user authentication enhancements, please visit our Online Resource Center or call the Customer Contact Center (CCC) at (888) 333-7010, option 1.

 

Federal Reserve Banks streamline communications processes for FedLine^® credential-related requests

May 15, 2012

In an effort to simplify the process for delivering information for credential-related requests, including password reset and token unblock requests, the Customer Contact Center (CCC) is now leveraging email communications more often. These email communications may take the place of some follow-up calls to End User Authorization Contacts (EUACs) and Subscribers. This change will help process your requests in a faster, more streamlined manner.

The emails will be sent from email addresses that the CCC currently uses for communications. For questions regarding this change, please call the CCC at (888) 333-7010, option 1.

 

Federal Reserve Banks plan to eliminate support for SecureTransport^TM Client v4.5.2 and add support for Secure Client v5.8

May 15, 2012

Effective May 14, 2012, customers can begin using Secure Client v5.8 for use with FedACH^® Services and Account, Billing, Central Bank and Fedwire^® Services statement services via the FedLine Command^® access solution and Check Services via the FedLine Web^® access solution. Customers can download Secure Client v5.8 via the Axway^® (formally Tumbleweed^®) Online Store by visiting https://usfrbstore.axway.com (Off-site Link) or by contacting this vendor directly.

To help ensure uninterrupted access to the services mentioned above, current SecureTransport Client customers are strongly encouraged to upgrade to Secure Client v5.8 before March 31, 2013, when support for older SecureTransport Client versions ends. Today we support SecureTransport Client v4.5.2, and customers currently using versions older than v4.5.2 are at risk of experiencing service interruptions.

As a result of this change, customers may want to schedule testing, which will be handled via normal testing procedures. To schedule a test, please contact the Customer Contact Center (CCC). Customers should also migrate all scripting to Secure Client v5.8 before March 31, 2013. For additional information on scripting, please contact Axway directly.

These changes are aligned with the Federal Reserve Banks’ commitment to remain current with the technology available in the marketplace. Secure Client v5.8 has many new features and advantages over the older SecureTransport Client versions, including:

• Full support on the following platforms: Windows^® XP, Windows Vista^®, Windows 7, Server 2003 & Server 2008; Solaris^®; HP-UX; Red Hat^® & SUSE Linux^®; AIX^®
• Native scheduler; checkpoint/restart of transfers after interruption; multi-transfers (MGET and MPUT); internal keystore; and improved user interface with drag and drop capabilities

As a reminder, personal computers used to access Federal Reserve Bank Services via the FedLine Web and FedLine Command access solutions must comply with minimum hardware and software requirements. FedLine Web hardware and software requirements are available on FRBservices.org. FedLine Command hardware and software requirements are included in the FedLine Command Security & Implementation Guide and can be acquired by calling the CCC at (888) 881-6700 for a current version of this guide. Financial institutions should review the latest hardware and software requirements and work with their IT departments to ensure compliance with these requirements.

For more information about the changes in the Federal Reserve Banks’ support for SecureTransport Client, please call the CCC at (888) 333-7010.

 

Paper distribution of Capital Stock reports to be eliminated in June 2012

May 15, 2012

Last October, the Federal Reserve Banks announced (PDF) that the Capital Stock monthly statement of holdings and semi-annual dividend advices will be available via FedMail^® Services. Organizations are not required to receive reports. However, the paper distribution of Capital Stock reports will be eliminated in June 2012. After that time, the FedMail Service will be the only method available to receive this information. By getting set up on the FedMail Service now, your organization will be prepared when paper statements and advices are no longer offered.

FedMail Services is a cost-effective electronic messaging system used to transmit information from the Federal Reserve Banks to organizations. Use of FedMail Services to receive these reports is encouraged to help increase the efficiency in the distribution of reports. Receipt of Capital Stock statements and advices via FedMail Services is an enhancement for financial institutions already using FedMail Services to receive information and alerts regarding other Federal Reserve Service areas. To receive Capital Stock statements and advices via FedMail Services, whether your organization is already using FedMail Services or you are new to the service, your financial institution will need to complete a new Federal Reserve Bank FedMail Request Form. If you haven’t done so already, please:

• Access the FedMail Request Form (PDF).
• Complete Section 2 – Service Profile Accounting: Capital Stock (STOC, DIVD). Be sure to not include other reports or advices your staff currently receives via the FedMail Service, unless changes are necessary.
• Submit the form, which must be signed by an individual listed on your organization’s Official Authorization List (OAL).

By signing up to receive Capital Stock statements and advices via the FedMail Service, you will automatically receive the Capital Stock statement of holdings monthly and the dividend advices semi-annually. These statements and advices will be quickly emailed to your organization, instead of sent via paper mail. There is no fee for this service for existing or new FedMail Services Subscribers receiving the statements and advices via email. 

If you need assistance or have questions at any point in the process, please contact the Customer Contact Center at (888) 333-7010, option 1.

 

The role of FedLine^® security tokens in safeguarding the FedLine access solutions

May 15, 2012

The Federal Reserve Banks are committed to delivering payments and information services via secure platforms. FedLine security tokens are one of the most secure means for safeguarding credentials provided to FedLine Subscribers, and they help to ensure that FedLine access solutions are only accessible to authorized individuals. When a Subscriber uses a FedLine security token to authenticate their access, the token works in concert with other controls to help to ensure the confidentiality and integrity of data transmitted via FedLine access solutions.

FedLine security tokens are read-only, non-storage USB devices with an exclusive purpose of safeguarding FedLine credentials. They cannot be used to store or retrieve other information from a Subscriber's personal computer.

FedLine security tokens provide multi-factor authentication to the FedLine access solutions. As an accepted best-practice, the financial services industry is migrating toward multi-factor technologies as they offer customers heightened levels of authentication security relative to traditional user IDs and passwords. Multi-factor technology combines various identifying information to uniquely distinguish an individual.

FedLine security tokens are two-factor devices, as they physically contain a unique identifier for each FedLine Subscriber, and they require knowledge of a passphrase to access that unique identifier. The unique information stored on the token remains with that device, providing token holders additional assurance over the protection of their electronic credentials.

For more information about FedLine security tokens, please call the Customer Contact Center (CCC) at (888) 333-7010, option 1.

 

Check/Check 21 Services

Transition information for savings bonds adjustments

May 15, 2012

As processing of redeemed paper savings bond deposits has moved from EZ Clear to image-enabled processing, the Federal Reserve Banks are transitioning adjustment requirements and edits in support of the change.

The Adjustments Transition Information for Savings Bonds (PDF) provides an overview of the changes regarding savings bonds adjustments as we transition from EZ Clear to image-enabled savings bond processing. For detailed information regarding savings bonds adjustments, please visit the Image-enabled Savings Bond Processing Resource Center. Below are some of the key changes related to savings bond adjustments:

• A new adjustment Pricing Error Adjustment (PEA) investigation type (ITYP) was added.
  • A PEA will be initiated by the Federal Reserve Banks at the Bureau of the Public Debt’s (BPD) request when BPD determines that a bond was redeemed for the incorrect amount or processed for the incorrect amount, subject to standard adjustment minimum amount requirements. This ITYP is reserved for Federal Reserve Bank use only.
• The Receiver (RCVR) of an adjustment request depends on the Federal Reserve Bank site that processed the deposit and the timing of the adjustment request. 
  • Before May 20, 2012, for EZ Clear work processed by the Federal Reserve Bank of Minneapolis or the Pittsburgh Branch of the Federal Reserve Bank of Cleveland, please select the EZ Clear routing number. 
  • Effective May 21, 2012, the EZ Clear routing number will be eliminated. The Federal Reserve Bank of Atlanta should be selected as the RCVR for all adjustment requests associated with EZ Clear work processed by the Federal Reserve Bank of Minneapolis or the Pittsburgh Branch of the Federal Reserve Bank of Cleveland.
  • For all paper savings bond cash letters deposited with the Federal Reserve Bank of Atlanta as well as all separately sorted image cash letters, please select the Federal Reserve Bank of Atlanta as the RCVR.
  • For savings bonds deposited in mixed image cash letters, the receiving Federal Reserve Bank site should be selected as the RCVR.
• Effective April 11, 2012, the EZ Clear Adjustments phone number transitioned to Check Services Support (877) 372-2457. Also effective April 11, savings bond adjustment requests are no longer accepted by fax.
• Effective April 11, 2012, the mailing address for EZ Clear adjustments sent via mail was changed from the Federal Reserve Bank of Minneapolis to the Federal Reserve Bank of Cleveland. Paper-based savings bond adjustment requests should be submitted to one of the addresses below.

Note: Adjustment requests that are sent to an alternative location may be delayed in processing. Your adjustment requests will not be processed until received at the proper location.

For regular mail deliveries:
Federal Reserve Bank of Cleveland
Attn: Check Adjustments
P.O. Box 89420
Cleveland, OH 44101-6420

For deliveries requiring a signature:
Federal Reserve Bank of Cleveland
Attn: Check Adjustments
1455 East Sixth Street
Cleveland, OH 44114

Adjustments resources

To support your adjustment activities we offer a series of Check Adjustments Webinars and other resources to assist you in finding information and answers quickly. In addition, our online Check Adjustments Quick Reference Guide provides information on the various investigation types handled as adjustments and the timeframes for timely submission. You might also find that our Check Adjustments Tips (PDF) provide answers to many of your adjustment-related questions.

Our national Check Customer Support Center is staffed with specially trained representatives to assist you. For all inquiries related to adjustments, please call (877) FRB-CHKS or (877) 372-2457.

 

Important tips to consider when submitting savings bonds

May 15, 2012

Effective April 16, 2012, the Federal Reserve Banks began accepting savings bonds via image-enabled processing. As of the end of April, a third of savings bond redemptions from financial institutions were deposited in separately sorted and mixed image cash letters.

While image-based processing is the preferred method for redeeming savings bonds, paper savings bonds deposits will continue to be accepted. For financial institutions planning to continue submitting paper savings bonds, below are some tips to help expedite the process.

Paper and facsimile savings bonds

• Affix the paid stamp on the front of the bonds in the unused space to the left of the issue date.
  • The paying agent physical stamp should not interfere with any of the information in the MICR line nor should it in any way interfere with the serial number reflected on the front of the savings bond.
• Submit paper savings bonds in separately sorted paper cash letters only using the appropriate paper cash letter form – Regular Savings Bonds (PDF), Full Sheet Savings Bonds (PDF) or Facsimile Savings Bonds (PDF).
  • Complete all fields in the cash letter form and be sure to include the routing number of your financial institution on the cash letter form or credit may be delayed.
• Mail savings bonds to the Federal Reserve Bank of Atlanta.
  • For regular mail deliveries:
    Check Department - Savings Bond Processing
    Federal Reserve Bank of Atlanta
    1000 Peachtree Street NE
    Atlanta, GA 30309-4470
  • For deliveries requiring a signature:
    Check Department - Savings Bond Processing
    Federal Reserve Bank of Atlanta
    2301 Defoor Hills Road
    Atlanta, GA 30318
• Bonds should not be submitted in carriers, nor should image replacement documents of bonds be deposited.

Credit for paper and facsimile savings bonds will be passed when the savings bonds reach the Federal Reserve Bank of Atlanta. Paper savings bonds deposited in mixed paper cash letters or in the wrong type of paper cash letter may be returned to the depositor. Credit for paper savings bonds submitted on cash letter forms without a routing number or mailed to the wrong location may also be delayed.

Getting set up as a FedForward^® Services customer

The transition to image-enabled processing provides financial institutions a more streamlined and cost-effective alternative for processing redeemed savings bonds. If your financial institution would like to begin using image-enabled processing for redeemed savings bonds but is not already a FedForward Services depositor, either directly or through a processor or correspondent, contact your account executive or Check Services Customer Support at (877) 372-2457 to begin the process of signing up. The FedForward Services Setup page provides step-by-step instructions for becoming a FedForward Services depositor.

You can also reference the EZ Clear to Image-enabled Savings Bond Processing Quick Reference Guide (PDF) that outlines the major operational changes. Once you are set up as a FedFoward Services customer, your financial institution can begin submitting savings bonds in image cash letters (ICLs).

Visit the online resource center

Detailed information regarding this initiative, including Frequently Asked Questions (FAQs), can be found at the Image-enabled Savings Bond Processing Resource Center. This site provides a central location for all communications. Be sure to bookmark this page for future reference.

 

Upcoming changes to check adjustments requirements and edits including updates to Computer Interface Protocol Specifications (CIPS)

May 15, 2012

The Federal Reserve Banks are making a number of changes to the Check Adjustments requirements and edits, effective May 21, 2012. These changes, which are applicable for all adjustment requests (submitted using the paper adjustment request form or electronically using the FedLine Web^® access solution) should simplify and streamline the process for submitting adjustment requests, and will help ensure that information provided is logical and aligned with case submission requirements.

The major changes include:

• Documents-to-follow (DTFs) will change from required to optional for the following investigation types (ITYPs):
  • Encoding Error (ENC)
  • Non-Cash Item (NCH)
• DTFs for Information Request (INFO) are currently not allowed, but will now be made optional to allow information that might be needed for research and resolution to be attached to the request.
• The Forward Fine Sort (FFS), Return Fine Sort (RFS) and Forward Electronic Cash Letter (FECL) Product Classes are being eliminated.
  • The Forward (FWD) or Return (RTN) Product Classes should instead be used.
• Valid Federal Reserve Bank routing numbers have been updated to the following:
  • Windsor Locks - 011100481
  • Philadelphia - 031000040
  • Cleveland - 041000014
  • Treas Ck Recon Div - 051050517
  • Charlotte - 053000206
  • Atlanta - 061000146
  • Chicago - 071000301
  • St. Louis - 081000045
  • Minneapolis - 091000080
  • Kansas City - 101000048
  • Dallas - 111000038
  • Los Angeles – 122000166
• All messages must contain a valid Federal Reserve Bank routing number in either the From Cash Letter (FCL) or To Cash Letter (TCL) field.
• The Receiver (RCVR) field in the FedLine Web access solution must be populated with a valid Federal Reserve Bank routing number.

Several other changes are outlined in the table below: 

 

Changes to Adjustment Edit Routines

ITYP	Edit Change
Advice Request (AREQ)	Account Number (ANO) changing from Not Allowed to Optional
Claim of Late Return (LC)	FCL changing from Optional to Required TCL changing from Optional to Required
Encoding Error (ENC)	The system will verify consistent and logical information is being provided by evaluating information provided in the FCL, TCL, Listed As (LAS) and Should Be (SBE) fields against the ETYP associated with the request. This will help ensure the request is submitted for the correct ETYP. These new edits will prevent the use of the Request for Information (RFI) ETYP.
Entry in Error (ERR)	A special edit is being added to allow the Federal Reserve Banks to function small dollar entries using the ERR ITYP. Use of this capability will be limited to reversals of paid twice cases, which today are functioned using the Paid Item (PAID) ITYP.
Late Return Disclaimer (LR)	FCL changing from Optional to Required TCL changing from Optional to Required
Listed Not Enclosed (LNE)	A special edit which allows the Sequence Number (SEQ) to be blank is being removed. The SEQ will now be required.
Listing Error (LST)	The system will verify consistent and logical information is being provided by evaluating information provided in the FCL, TCL, LAS and SBE fields against the ETYP associated with the request. This will help ensure the request is submitted for the correct ETYP. These new edits will prevent the use of the Request for Information (RFI) ETYP.
Missing Cash Letter (MCL)	Tape Total (TT) changing from Optional to Not Allowed
Non-Cash Item (NCH)	The system will verify that the FCL field contains a valid Federal Reserve Bank routing number.
Non-Cash Item (NCH)	ANO changing from Not Allowed to Optional.
Non-Cash Item (NCH)	The following optional fields will be required: Cash Letter Total (CLT), Tape Total (TT), Sequence Number (SEQ), Item Before (IBEF), and Item After (IAFT)
Paid Item (PAID)	The system will verify that the ETYP is RFI when the FCL does not contain a valid Federal Reserve Bank routing number.  The Federal Reserve Banks will not accept a PAID request for Debit from a Financial Institution.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

If you are using the file upload/download process in the FedLine Web access solution, an updated Computer Interface Protocol Specifications (CIPS) document reflecting these changes is posted in the Documentation section of the Support Center in the Learning Center on FedLine^®, which requires credentials to access. Requests to submit and receive test files may be made through the Check Services Customer Support Center at (877) FRB-CHKS or (877) 372-2457. These changes will be reflected in the Check Adjustments Quick Reference Guide on the effective date of May 21, 2012.

These changes support ongoing efforts to streamline and expedite the adjustments case submission, research and resolution processes. Please contact the Check Services Customer Support Center at (877) FRB-CHKS or (877) 372-2457 if you have any questions, or for additional information.

 

Federal Reserve Banks announce new FedReceipt^® RTNs

May 15, 2012

New FedReceipt routing transit numbers (RTNs) will take effect May 21, 2012. The credit availability and pricing schedule on new FedReceipt RTNs for FedForward^® and FedReturn^® Services deposits will be modified and announced approximately one week in advance of the effective date. For more information, please visit Check 21-Enabled Services Endpoint Tier Listings.

 

FedACH^® Services

New FedPayments^® Reporter Service SEC Code Report and more

May 15, 2012

New reports are now available from the FedPayments Reporter Service (formerly named the FedEDI Plus^® Service), as well as an additional format for the straight-through processing file:

• An ACH Volume Summary by SEC Code Report is now available. The report reflects dollar totals, entries and addenda counts for debits and credits by SEC code. The report can be generated on a scheduled or on demand basis. The report can be generated for activity at the ODFI/RDFI level and at the originator/receiver level.
• An option now exists to generate the Payment Data Information File in a NACHA format. Receivers with EDI-compatible accounts receivable systems can use this file to automatically post and close open receivable items in their accounting systems. This straight-through processing option could result in significant time savings and error avoidance compared to using the human-readable EDI reports that require manual accounting entries.
• The Remittance Advice Summary and Detail reports can now be generated at the originator level. Originators may find this information useful to better understand ACH entries they have originated.

Please refer to the FedACH^® Services 2012 Fee Schedule to review the fees associated with these new reports.

To start automatically generating any of the new reports, current customers of the service need only go into the FedPayments Reporter Service screens in their FedLine^® access solution and change the drop down field associated with the desired report from "no report" to the report format of their choice.

To learn more about how to get started generating automated FedACH reports, review the FedPayments Reporter Service page or use the My FedDirectory^® Service to find customized contact information for account executives and FedACH sales specialists.

 

FedCash^® Services

Changes to the FedLine Web^® access solution for FedCash^® Services effective May 21, 2012

May 15, 2012

As previously communicated (PDF), we are making changes to the FedLine Web access solution for FedCash Services. Effective May 21, 2012, the following enhancements will be implemented:

Enhancement for Depository Institutions

• The left navigation bar will include menu options that can be expanded and collapsed, rather than remaining fully expanded as they do currently.

Enhancements for Coin Terminal (CT) and Custodial Inventory (CI) locations

• To improve navigation in multiple page reports, page numbers will now be displayed on the report for up to eleven pages at a time.
• The Site Selection drop-down menu will be arranged alphabetically by site name as opposed to Site ID, which will make it easier to identify and select a site.
• For CT locations, after searching "all sites" on the CT Holdings Balance Report, users will be able to select an individual site's Vault Inventory detail.

Extended Custodial Inventory (ECI) locations

• To improve navigation in multiple page reports, page numbers will now be displayed on the report for up to eleven pages at a time.
• When entering bags during Shipment Bag Preparation, the system will automatically save the entries each time ten additional bags are added. The total bags, once prepared, will still need to be submitted in order to be released. This change will reduce the incidence of session time-outs for large transactions.

Additional details about these enhancements will be made available at FedCash Services Education on May 21, 2012. No action is necessary on your part. If you have any questions, please contact your local Federal Reserve Bank Cash Services representative.

 

Treasury Services

Transition information for savings bonds adjustments

May 15, 2012

As processing of redeemed paper savings bond deposits has moved from EZ Clear to image-enabled processing, the Federal Reserve Banks are transitioning adjustment requirements and edits in support of the change.

The Adjustments Transition Information for Savings Bonds (PDF) provides an overview of the changes regarding savings bonds adjustments as we transition from EZ Clear to image-enabled savings bond processing. For detailed information regarding savings bonds adjustments, please visit the Image-enabled Savings Bond Processing Resource Center. Below are some of the key changes related to savings bond adjustments:

• A new adjustment Pricing Error Adjustment (PEA) investigation type (ITYP) was added.
  • A PEA will be initiated by the Federal Reserve Banks at the Bureau of the Public Debt’s (BPD) request when BPD determines that a bond was redeemed for the incorrect amount or processed for the incorrect amount, subject to standard adjustment minimum amount requirements. This ITYP is reserved for Federal Reserve Bank use only.
• The Receiver (RCVR) of an adjustment request depends on the Federal Reserve Bank site that processed the deposit and the timing of the adjustment request. 
  • Before May 20, 2012, for EZ Clear work processed by the Federal Reserve Bank of Minneapolis or the Pittsburgh Branch of the Federal Reserve Bank of Cleveland, please select the EZ Clear routing number. 
  • Effective May 21, 2012, the EZ Clear routing number will be eliminated. The Federal Reserve Bank of Atlanta should be selected as the RCVR for all adjustment requests associated with EZ Clear work processed by the Federal Reserve Bank of Minneapolis or the Pittsburgh Branch of the Federal Reserve Bank of Cleveland.
  • For all paper savings bond cash letters deposited with the Federal Reserve Bank of Atlanta as well as all separately sorted image cash letters, please select the Federal Reserve Bank of Atlanta as the RCVR.
  • For savings bonds deposited in mixed image cash letters, the receiving Federal Reserve Bank site should be selected as the RCVR.
• Effective April 11, 2012, the EZ Clear Adjustments phone number transitioned to Check Services Support (877) 372-2457. Also effective April 11, savings bond adjustment requests are no longer accepted by fax.
• Effective April 11, 2012, the mailing address for EZ Clear adjustments sent via mail was changed from the Federal Reserve Bank of Minneapolis to the Federal Reserve Bank of Cleveland. Paper-based savings bond adjustment requests should be submitted to one of the addresses below.

Note: Adjustment requests that are sent to an alternative location may be delayed in processing. Your adjustment requests will not be processed until received at the proper location.

For regular mail deliveries:
Federal Reserve Bank of Cleveland
Attn: Check Adjustments
P.O. Box 89420
Cleveland, OH 44101-6420

For deliveries requiring a signature:
Federal Reserve Bank of Cleveland
Attn: Check Adjustments
1455 East Sixth Street
Cleveland, OH 44114

Adjustments resources

To support your adjustment activities we offer a series of Check Adjustments Webinars and other resources to assist you in finding information and answers quickly. In addition, our online Check Adjustments Quick Reference Guide provides information on the various investigation types handled as adjustments and the timeframes for timely submission. You might also find that our Check Adjustments Tips (PDF) provide answers to many of your adjustment-related questions.

Our national Check Customer Support Center is staffed with specially trained representatives to assist you. For all inquiries related to adjustments, please call (877) FRB-CHKS or (877) 372-2457.

 

Reminder - Treasury announces the elimination of fax as a delivery option for check reclamations

May 15, 2012

In an effort to provide financial institutions with a more efficient and streamlined alternative to fax delivery, the Notice of Direct Debit (U.S. Treasury Check Reclamation) RECC and six other associated advices and reports will begin to be delivered to financial institutions via email delivery only.

The Federal Reserve Banks are identifying impacted financial institutions and notifying current fax and email recipients of these reports at the appropriate time to help ensure a smooth and timely transition. Upon notification, impacted institutions are encouraged to take action in a timely manner.

 Reports that will no longer be delivered via fax are:

1. RECC – The Notice of Direct Debit (U.S. Treasury Check Reclamation) provides the ability to receive check reclamations and reports electronically;
2. CORA – The 1099C Cancellation of Debt Items provides uncollected amount of receivables at the end of the calendar year;
3. CORB – The Annual Corrected Cumulative Notice of Discharged Debt report that provides canceled debt at the end of February with modifications that will be reported to the IRS on Form 1099C;
4. CORC – The Annual Corrected 1099C Cancellation of Debt Items report that provides the uncollected amount of receivables at the end of February with Annual 1099C data modifications;
5. CORM – The Cumulative Notice of Discharged Debt monthly report of canceled debt that will be reported to the IRS on Form 1099C;
6. CORS – The Summary of Debt Statement monthly report of outstanding check reclamations and associated information;
7. CORW – The Abandonment Notice weekly report of check reclamations that have been abandoned.

Impacted institutions will be asked to complete the FedMail^® Request Form

Once contacted, financial institutions currently set up only for fax delivery will be asked to set up email addresses within 30 days of notification in order to continue to receive these notices. Page 1 of the Federal Reserve Bank FedMail Request Form (PDF) will need to be completed along with the Treasury Check Reclamations section at the top of page 5. In the same section, the fax number(s) associated with each institution that need to be deleted should be listed. The form must be signed by an authorized approver then submitted to the Customer Contact Center (CCC).

Similarly, financial institutions currently set up for both email and fax delivery will need to determine the number of individual recipients at each institution who need to continue to receive these notices and if the recipients via email are sufficient to process their reclamation volume. Should existing email recipients need to be modified or additional email recipients need to be established, page 1 of the FedMail Request Form (PDF) will need to be completed along with the Treasury Check Reclamations section at the top of page 5. The form must be signed by an authorized approver then submitted to the CCC. The Federal Reserve Banks will automatically remove the fax number(s) associated with these institutions that are set up for both email and fax delivery 30 days from notification.

For contingency purposes, financial institutions should consider setting up a shared group email address that can be accessed by multiple recipients.

Please direct all questions about this change to TRS.RECL@phil.frb.org. 

 

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