The Federal Reserve Banks will implement a freeze period for Check Services from December 23, 2016, through January 4, 2017. Key dates are:
December 22, 2016
January 5, 2017
If you have questions, please contact FedACH® and Check Services Support at (877) 372-2457.
The Federal Reserve Banks will implement a freeze period for Check Services from December 23, 2016, through January 4, 2017. If you have questions, please contact FedACH® and Check Services Support at (877) 372-2457.
Now that the Phase 1 implementation of NACHA’s Same Day ACH rule has come and gone, you may be looking for a way to easily identify Automated Clearing House (ACH) credit transactions that settled same-day. These transactions will be assessed the Same Day Entry Fee of $0.052. The new ACH Same Day Originated Batch Report, now available to FedACH customers, provides that information on a monthly basis. View a sample (PDF) of the ACH Same Day Originated Batch Report along with samples of other FedPayments® Reporter Service reports.
The reports are delivered via encrypted email at a cost of $0.20 per email along with a manual reporting fee of $10 per report for FedPayments Reporter Service subscribers. Those not subscribing to the FedPayments Reporter Service will pay the per-email fee along with a manual reporting fee of $30 per report.
FedACH customers interested in this new report should complete Part 6D, Section D of the FedACH Participation Agreement. For institutions interested in identifying debits that would qualify for same-day settlement after the September 2017 implementation of Phase 2 of the Same Day ACH rule, that information is also provided on the ACH Same Day Originated Batch Report.
The new ACH Same Day Originated Batch Report, now available to FedACH customers, provides customers with a way to easily identify Automated Clearing House credit transactions that settled same-day. View a sample (PDF) of the ACH Same Day Originated Batch Report along with samples of other FedPayments® Reporter Service reports.
To help with balancing FedACH® Services files, a Same Day ACH balancing and settlement tips (PDF) document is provided on the Same Day ACH Resource Center. For additional information, visit the resource center and corresponding Same Day ACH frequently asked questions.
The new FedPayments Reporter ACH Received Entries Detail Report provides key information on received entries for the specified ABA or account number(s). The report is available in spreadsheet format (.xlxs, .csv) in addition to human-readable formats (.pdf, .txt, .html).
Use the ACH Received Entries Detail Report to help:
The spreadsheet formats give users the ability to:
The new ACH Received Entries Detail Report is available on a scheduled daily, weekly or monthly basis or on demand and is one of the many reports included in the FedPayments Reporter Service monthly package fee.
The new FedPayments Reporter ACH Received Entries Detail Report provides key information on received entries for the specified ABA or account number(s). The report is available in spreadsheet format in addition to human-readable formats. To learn more about the FedPayments Reporter Service and the new ACH Received Entries Detail Report, you can view sample reports (PDF), read report descriptions (PDF) and ask that we contact you.
For the 2016 holiday season, the Federal Reserve Banks will process your holiday currency special requests during two separate ordering periods. The special ordering periods are as follows:
All orders placed during the special ordering periods must be picked up from the Federal Reserve’s docks by the Friday following the last order day, that is, Friday, November 4, and Friday, December 9, respectively. Thus, you must ensure your institution has made appropriate transit accommodations, as no orders will be held over to the following week.
Holiday Currency Order Processing
Your institution may place orders to meet its holiday currency needs using the FedLine Web® access solution, which provides easy-to-use features to request either fit currency or new currency. If you desire both fit and new currency, you will need to place two separate orders — one for fit and one for new. All orders will be filled with your requested currency type unless the supply has been temporarily exhausted.
During the holiday currency special ordering periods, standard cash ordering requirements will remain in place. If your institution places two orders for any of your ten non-priced designated endpoints, one for fit and one for new currency, the Uniform Cash Access Policy (UCAP) fee will be waived and reversed for the second order. Any additional orders placed beyond the second order, or for endpoints that do not meet the requirements for free access, will still be subject to the UCAP fee. Also, if your institution deposits fit currency in a denomination covered by the Recirculation Policy and orders new currency in the same denomination within the same Federal Reserve Bank zone or sub-zone from October 28 through November 3, and December 2 to December 8, any resulting cross-shipping fees will be waived for those weeks.
For the 2016 holiday season, the Federal Reserve Banks will process your holiday currency special requests during two separate ordering periods, Friday, October 28 through Thursday, November 3 and Friday, December 2 through Thursday, December 8. For additional information, visit the FedCash® Services page. If you have questions, please contact your local Federal Reserve Office Cash Services Department.
As a reminder, the Federal Reserve Banks use Confirmation.com (Off-site Link), a service by Capital Confirmation, Inc., to facilitate the electronic processing of audit confirmation requests for Fedwire® Securities Service account holdings information, Account Balance, Capital Stock, pledged collateral holdings for Treasury Tax & Loan (TT&L), 31CFR Part 202, 31CRF Part 225 and Discount Window Loan or Collateral information. Confirmation.com is the preferred and faster processing method to respond to audit confirmation requests for all Federal Reserve Bank business lines. However, the Federal Reserve Banks of Dallas, New York, Richmond and St. Louis will not accept requests for Discount Window Loan or Collateral information through Confirmation.com.
Before the Federal Reserve Banks can respond to a confirmation request from your institution’s audit firm through Confirmation.com, you must have an Authorization to Release Information to Accounting Firms (PDF) form on file. The release form must be signed by an individual on your institution’s Official Authorization List (OAL), and only needs to be submitted once rather than submitting a separate authorization letter for each paper audit confirmation request. General questions regarding audit confirmations can be directed to your district’s Account Confirmation Request Contact.
Our preferred method to process account confirmations is electronically through Confirmation.com. However, if you require the need to submit a request manually, you must do so by submitting the standard audit confirmation request form (PDF) that is available on frbservices.org under forms, account services, other account services forms. The standard audit confirmation form must be submitted according to the instructions provided for your respective local district, which can be found on the Account Confirmation Request Contacts page. The standard audit confirmation request form is required for manual submissions and requests received by other means will be returned for submission via the standard form. Please communicate this information to your designated audit firm to ensure efficient audit confirmation processing.
The Federal Reserve Banks are currently using Confirmation.com (Off-site Link), a service by Capital Confirmation, Inc., to facilitate the electronic processing of audit confirmation requests.
As a reminder, we are rolling out a new Federal Reserve Financial Services forms format gradually across all forms throughout 2016 and 2017. The Federal Reserve Banks are streamlining forms with a more consistent layout designed for easier completion. Any forms completed under the previous layout are still valid, and you do not need to resubmit any forms in the new format.
As a reminder, during October and November 2016, the Federal Reserve Bank of Boston will be conducting separate Reserves Management and Federal Reserve Intra-Day & Overnight Credit Seminars throughout the New England area. These two seminars will take place on the same day at each location, one in the morning and one in the afternoon. Attendees may choose to enroll in one or both sessions based on their level of interest in the topics covered. There is no fee to attend the seminars and no limit on the number of staff who can attend. A high-level overview of the seminars and a link to register are available on the Federal Reserve Bank of Boston’s website (Off-site Link).
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