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Article Archives

FedFocus is your source for the latest Federal Reserve Bank Services news. Each issue keeps you informed about hot topics in the industry, as well as provides insight into the value of Federal Reserve Financial Services.

Account Services: Article Archives

There are currently no articles in the FedFocus archive for this service type.

 

 

Central Bank: Article Archives

There are currently no articles in the FedFocus archive for this service type.

 

 

Check/Check 21 Services: Article Archives

First National Bank of Central Texas reduces risk with the Fed's Check 21-Enabled Services

June 2017

The First National Bank of Central Texas (FNB Central Texas) is located in the heart of Texas and has been serving the members of its community for over a century. Originally chartered as the First National Bank of Mart in 1901, the bank has seen significant growth, especially in the past two decades. As FNB Central Texas grew, so did its need for reliable Check 21 item processing that could handle its high volume. Learn how Fed services met the bank’s needs.
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KleinBank supervisor finds value in Fed's Check Adjustment webinars for her entire team

May 2017

Check Adjustment webinars are led by a Fed expert and provide fundamental training on the process. Learn why Cindy Schwartz at KleinBank had her entire team attend the Principles and Concepts of Image Cash Letters and Electronic Check Adjustments webinar. The fee-based webinar is the same price for any number of attendees on a single connection, making it perfect for full team training.
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New and long-standing customers revere the Fed's Check Adjustment webinars

October 2016

The Principles and Concepts of Image Cash Letters and Electronic Check Adjustments webinar has quickly become a key educational tool for Check Adjustments Services customers. Despite the different levels of staff experience, Carolina Postal Credit Union and Launch Federal Credit Union have both found something new to learn with the Fed’s webinar.
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Customer Support: Article Archives

There are currently no articles in the FedFocus archive for this service type.

 

 

Events and Education: Article Archives

Get a FEDucational boost during the summer days ahead

June 2017

This month, summer rolls around and the sunshine can’t help but lift spirits. It’s the perfect time to brush up on skills and bring your team together for educational opportunities. Luckily, here at the Fed, we provide these opportunities year-round and at your convenience — you don’t have to miss any fun in the sun!
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Fly away with us: Meet our Fed experts at upcoming industry events

May 2017

Most everyone marvels at the invention of the airplane, but the Fed’s frequent fliers especially appreciate this mode of travel during conference season! That’s because Fed experts will log an extraordinary amount of miles traveling to and from conferences all across the country. We have quite a few events to attend in May alone! Be sure to meet up with us at one of our locations this month.
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Let your FEDucation work for you

April 2017

As second quarter rolls in, a groove starts to set for the year — goals are finalized, projects are in full swing and production is often at an all-time high. Being in the swing of things can make any business feel positive about its work. Another way to keep spirits high is by encouraging learning experiences and advancing education. A FEDucation can help with this goal!
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We're social ... are you?

March 2017

Keeping in touch has never been more important. Technology is always changing, news is always breaking and those who don’t have the latest information can get lost. Staying up to speed with the Fed, the financial services industry and your colleagues is not just about checking your email or watching the news – it’s also about engagement and being social. Whether you’re at home or on the go, take a second to follow @FRBservices.
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Be sure to meet up with a Fed expert during spring conference season

February 2017

The Federal Reserve Banks participate in events and conferences across the country throughout the year. It’s an excellent way to keep up with what’s going on in the industry, hear engaging speakers, discuss the latest news and meet with colleagues. The learning experiences and face-to-face interactions are priceless. Keep reading to see some of the events we’ll attend this spring. We hope to see you there!
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Refocus your FEDucation: Get back to basics in the new year

January 2017

The holidays are behind us, and it’s time to settle into 2017. Our monthly Events and Education article will continue to provide you with news and advice on keeping up on your FEDucation throughout the new year. This season is a great time to refresh your goals and make a commitment to expanding your learning opportunities to benefit your institution.
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Another year of FEDucation in the books

December 2016

As the year comes to an end, it’s often a good time to look back and see all that you have accomplished in the past 12 months. As for Events and Education articles, we have covered a lot of ground in 2016! Hopefully the articles have provided some insight, offered useful tips and given you a well-rounded FEDucation. In that spirit, let’s take a look back on some highlights of what we have learned this year.
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Give thanks for your FEDucation

November 2016

November is a time to give thanks, and the Federal Reserve Banks are very thankful for you! Providing you with a FEDucation is just one of the ways we show our appreciation. If you haven’t taken advantage of our educational materials yet, what are you waiting for? Visit the Federal Reserve Bank Events page.
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On-demand webcasts: There when you need them

October 2016

There’s always something new to learn, but do you find that your schedule sometimes doesn’t allow you to explore new training opportunities? If there are meetings that have you tied up or you simply wish that you could study new topics in your own time, the Federal Reserve Banks have the perfect solution. The Federal Reserve Bank Events page offers a robust listing of free 24/7 on-demand webcasts to help you learn more about our services — at your convenience!
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It's time to hit the books and focus on your FEDucation

September 2016

While summer doesn’t end officially for another three weeks, as we shift into September there is certain nostalgia in the air for warm temperatures and late sunsets. It may have been a while since you stepped into a classroom, but everyone can remember the air of anticipation on the first day of school. What if you could take that feeling and apply it to bettering your institution? You can, in a sense, by focusing on your FEDucation!
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Plan, practice and protect with resources from the Fed

August 2016

Financial institutions of all sizes face a number of potential risks that could result in service disruptions. Is your institution prepared? Do you have a business continuity plan in place? Building a strong risk management program requires time and tools to help ward off potential service disruptions. Learn how the Federal Reserve Banks can help enhance your risk management program.
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Don't risk it — take advantage of the Fed's Risk Management tools

July 2016

Financial institutions face risk every day. Luckily, there are services available to your institution that can help you to be ready to act should an incident occur. The Federal Reserve Banks have services and tools to help you prepare, such as our FedACH Risk® Management Services product suite that can help your financial institution mitigate Automated Clearing House (ACH) risk.
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FedACH® Services: Article Archives

Making ACH data analysis easy with the FedPayments® Reporter Service

March 2017

The FedPayments® Reporter Service offers a wide variety of reports on ACH activity. Customers are finding one of the newer reports to be particularly useful. The ACH Received Entries Detail Report is available in CSV and Excel formats, making it ideal for conducting a host of data analysis tasks. Learn what three of our customers have to say about how they use the spreadsheet formats of the ACH Received Entries Detail Report.
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Same Day ACH today: UMB shares its experience to date

December 2016

UMB Bank NA of Kansas City, Missouri (UMB) was ready for Same Day ACH Phase 1 on day one. UMB Financial Corporation, a diversified financial holding company, originated more than 69 million Automated Clearing House (ACH) transactions in 2015, making it the 25th largest ACH originator that year. We spoke with UMB Vice President and Payments Group Manager Tristan Thompson about UMB’s experience with Same Day ACH.
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FedCash® Services: Article Archives

Working together to respond to FedCash® business continuity events

June 2017

When natural disasters or outages disrupt power or telecommunications, cash may be the only way to pay for essential supplies. That’s why U.S. consumers continue to tuck away cash when preparing for the unexpected. This article provides an overview of FedCash Services business continuity planning resources to familiarize your organization with how the Federal Reserve communicates during service disruptions.
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New Currency Education Program resources available

April 2017

The U.S. Currency Education Program (CEP) has designed two new materials to help you become familiar with the security and design features of Federal Reserve notes. Both materials are free of charge and are available for download and order. Learn more about the Dollars in Detail guide and the Know the $20 Tent Card.
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The State of Cash: Preliminary Findings from the 2015 Diary of Consumer Payment Choice

February 2017

On November 3, 2016, the Federal Reserve Bank of San Francisco’s Cash Product Office published a research paper entitled “The State of Cash: Preliminary Findings from the 2015 Diary of Consumer Payment Choice.” We are sharing a reprint of the paper, which describes preliminary findings from the Diary of Consumer Payment Choice, a survey of a nationally representative sample of U.S. consumers on all their daily transactions.
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2017 marks the eighth year of the America the Beautiful Quarters® Program

January 2017

For the eighth year, the Federal Reserve Banks are preparing for the continuation of the America the Beautiful Quarters Program. Since 2010, the U.S. Mint has issued five new quarter-dollar coins each year featuring designs depicting national parks and other national sites. All 56 coins in the America the Beautiful Quarters Program are expected to be introduced by 2021. See which quarters are scheduled for release in 2017.
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Shopping Experience Trends and their Impact on Cash

November 2016

On April 26, 2016, the Federal Reserve Bank of San Francisco’s FedNotes publication featured an article entitled “Shopping Experience Trends and their Impact on Cash” written by Wendy Matheny, Shaun O’Brien and Claire Wang. We are sharing a reprint of the article, which discusses themes that describe today’s shopping experience.
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Do you know what to do with suspect counterfeit notes?

August 2016

Accepting a counterfeit note could lead to a real financial loss for individuals or businesses. If you suspect that your institution has received a counterfeit note, contact your local police department or local U.S. Secret Service office. Learn how you can review the security and design features of U.S. currency with free resources from the U.S. Currency Education Program.
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Federal Reserve Banks begin conversion to new internal cash transactional system

August 2016

With $1.4 trillion of U.S. currency in circulation, cash occupies an important position in the financial system. To maintain the public’s confidence in U.S. currency and increase efficiency in the cash system, the Federal Reserve is continuously taking steps to enhance its cash processing technology. This summer, the Reserve Banks began to convert to the new internal cash transactional system office by office, with the Seattle Branch of the Federal Reserve Bank of San Francisco leading the way.
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FedLine® Access Solutions: Article Archives

FedLine Advantage® with a secondary VPN device helps make Warthen Bank stronger

July 2016

The Geo. D. Warthen Bank has a long history of overcoming obstacles. Established in 1871, the bank has withstood regional agricultural shifts and national crises, all while continuing to serve its customers. Warthen Bank may not be able to predict service disruptions, but it has taken steps to help minimize interruptions. Learn how Warthen Bank used its secondary virtual private network (VPN) device to continue accessing Fed services during an internet disruption.
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Bull's Eye Credit Union moves up the FedLine® access solutions chain

July 2016

Over time, we understand that your organization’s needs may change and require different solutions to meet new demands. To accommodate the different needs of our customers, the Federal Reserve Banks offer multiple access solutions for financial services. Bull’s Eye Credit Union is a mid-sized Wisconsin financial institution and has been working its way up the FedLine® chain of access solutions. Learn more about Bull’s Eye’s transition from FedLine Web® to FedLine Advantage® and its plans to move to FedLine Command®.
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Fedwire® Services: Article Archives

Resolve to take advantage of the FedTransaction Analyzer® tool

January 2017

Getting immediate access to historical wire transaction data is a key component of most financial institutions’ risk management and compliance programs. However, manually creating and maintaining a spreadsheet probably isn’t the best way to track the supporting data. The FedTransaction Analyzer® tool is a better fit for the task. This year, make sure your New Year’s resolutions include automation with the FedTransaction Analyzer tool.
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General: Article Archives

Fed Facts: From coast to coast, make the most of the Fed's educational exhibits

June 2017

Are you planning a trip this summer? If so, be sure to stop by one of the Federal Reserve Bank locations to learn about money, the economy and the Fed’s role as the nation’s central bank. This month’s Fed Facts article highlights a few of our favorite exhibits at Federal Reserve Banks across the country.
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Fed Facts: What is the federal funds rate?

May 2017

This week, the Federal Open Market Committee (FOMC) met for the third time in 2017. Given that interest in the FOMC peaks around this time, this month’s Fed Facts article will cover the federal funds rate and one of the mechanisms that the FOMC uses to conduct monetary policy.
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Hammer risk and cement customer relationships with our toolboxes

May 2017

We offer a variety of services to help our customers mitigate payments risk and provide services to their clients. Our FedACH®, Fedwire® and Check 21-Enabled services each offer informational tools, and we’ve pulled them all together into two resources: the Risk Management Toolbox and the Business Banking Toolbox.
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Fed Facts: Get to know the Federal Reserve's role during tax season

April 2017

With Tax Day right around the corner, this month’s Fed Facts article focuses on the Federal Reserve System’s role as a fiscal agent of the U.S. government, the Fed’s part in the collection of taxes and the purpose of the Treasury’s general account. Keep reading for some historical background and tax-related statistics.
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Fed Facts: How the 12 Reserve Banks work together

March 2017

In last month’s Fed Facts article, you saw a look at the numbers from various business lines across the Federal Reserve Banks. The numbers are all related, but did you know that they tie back to 12 different Reserve Banks? The Federal Reserve Districts have always had a decentralized structure, but the Districts work together to offer financial services to financial institutions.
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Fed Facts: A look at the numbers

February 2017

The Federal Reserve Banks offer services, programs and a comprehensive suite of products to facilitate the day-to-day payment operations of financial institutions nationwide. For this month’s Fed Facts article, we’re displaying a collection of statistics about Federal Reserve Financial Services, including 2016 transactions processed by the Federal Reserve Banks and other Fed initiatives related to payment systems.
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Fed Facts: 80 years ago, the Board took up residence at 2001 Constitution Avenue, NW

January 2017

For nearly all of its first quarter century, the Board of Governors of the Federal Reserve System met in the U.S. Treasury building, while Board employees were scattered across three locations throughout Washington, D.C. The implementation of the Banking Act of 1935 led to the construction of a new building on Constitution Avenue that, for eight decades, the Board of Governors and Board staff have called home.
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Fed Facts: Year one wrap-up ... What is the Fed?

December 2016

When we launched the monthly Fed Facts series in January, our goal was to share some fascinating and little-known tidbits about the Fed. As we wrap up 2016, we want to share a three-minute video produced by the Board that succinctly answers the question: What is the Fed? In 2017, we will continue to bring you Fed Facts, and we’d love to hear your suggestions. Tell us what you’re interested in learning about, and we’ll do the digging!
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Fed Facts: Understanding the Board of Governors

November 2016

In the February Fed Facts article, we explained how Federal Reserve Bank presidents are selected and we introduced the 12 current Federal Reserve Bank presidents. This month, we’ll highlight the Federal Reserve System’s Board of Governors and the process for appointing members.
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Introducing the Business Banking Toolbox — A resource to help you stay competitive

November 2016

Our customers recognize the Federal Reserve Banks for providing financial services to depository institutions. Not many realize that we also have a suite of services our financial institution customers can use to add value for their corporate clients and business customers. To make these tools easier to access, we’ve put all of these services together into one Business Banking Toolbox.
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Federal Reserve Banks announce 2017 pricing and product changes

November 2016

As we move into 2017, the Federal Reserve Banks will remain focused on protecting our payments environment through continuous improvement of the infrastructures and technologies we employ. Our collaboration with the industry in support of the move toward faster and secure payments will continue. We are committed to investing the time, staff and financial resources necessary to help maintain the security and resiliency of the payments system. Many of the changes in 2017 reflect our goal to develop enhanced services, pursue further automation and create additional risk management and compliance tools.
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Fed Facts: What designates a federal holiday?

October 2016

In the U.S., a federal holiday is one that is recognized by the U.S. Government and is designated by Congress in Title V of the U.S. Code 6103 – Holidays, which allows Congress the authority to create holidays only for federal institutions. Have you ever wondered how these days were identified and what designates a federal holiday? Find out in this month's edition of Fed Facts.
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Fed Facts: Keep current with the Fed's wide assortment of publications

September 2016

Federal Reserve customers know that FedFocus and FedFlash® are the places to go for hot industry topics and Federal Reserve Financial Services news. But did you know that there are many more Federal Reserve publications to help keep you up to date? The Board of Governors and the 12 Reserve Banks each produces its own collection of publications. Check out this month’s edition of Fed Facts to see what your district offers!
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You spoke, we listened: Federal Reserve Financial Services forms get a makeover

September 2016

If you fill out a Federal Reserve Financial Services form on FRBservices.org in the near future, you might notice a few changes to its look and feel. Based on feedback from customers, we are streamlining our forms to give them a more consistent layout for easier completion. We know filling out forms can sometimes be a daunting task, so it is our goal to make the process as easy as we can.
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"Au"gust Fed Facts: Medals, gold and an underground vault

August 2016

The month of August perfectly introduces the focus of this issue’s Fed Facts article with its first two letters, “Au” — the symbol for gold on the periodic table. We’ve all been anticipating the excitement of the Summer Olympic Games in Rio de Janeiro, Brazil starting on August 5. As Olympians begin their quest for medals, let’s weigh in on the element currently on many people’s minds: gold!
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Fed Facts: The importance of education

July 2016

At this time each year, we find ourselves in the midst of the dog days of summer. A little over a month ago, anxious students participated in end-of-school festivities and hopeful graduates donned their caps and gowns. A little over a month from now, the start of a new school year will roll around — once again — far too soon. In this edition of Fed Facts, we’ll highlight commencement speeches given by Fed officials and promote the Fed’s financial literacy resources.
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Industry Perspective: Article Archives

Get the latest news on ISO® 20022 adoption in the United States

April 2017

Over the past several years, payments industry stakeholders worldwide have announced plans to adopt the ISO® 20022 messaging format in response to regulatory mandates, the development of new systems and technology upgrades. In the March 2016 issue of FedFocus, we shared an update on the Federal Reserve Banks’ collaborative efforts with several other organizations known as the ISO 20022 Stakeholder Group. Learn how we have been preparing for the adoption of the ISO 20022 standard for domestic and international wire transfers and for the integration with and/or potential conversion of domestic ACH payments.
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The 2016 Federal Reserve Payments Study highlights strong trends in card use

February 2017

The 2016 Federal Reserve Payments Study, released December 22, 2016 and conducted triennially since 2001, examines noncash payment trends in the U.S. The Study’s findings show that credit and debit card payments have continued to gain ground, amounting for more than two-thirds of all core noncash payments in the U.S. from 2012 through 2015. Just over a decade ago, checks were the predominant type of noncash payment in the U.S.
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Marking the second anniversary of Strategies for Improving the U.S. Payment System

February 2017

January 26, 2017, marks the two-year anniversary of the release of the Strategies for Improving the U.S. Payment System paper. To commemorate another year of substantive industry progress and momentum across the payments industry, the Federal Reserve released a Strategies for Improving the U.S. Payment System – January 2017 Progress Report, which highlights accomplishments as well as plans for 2017.
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Introducing the Business Payments Coalition: The former Remittance Coalition broadens its mission

October 2016

One of the five desired outcomes, as outlined in the Strategies for Improving the U.S. Payment System paper, is for the Federal Reserve to collaborate with industry stakeholders to improve payments efficiency. In the U.S., opportunities to improve payment system efficiency are especially significant in business-to-business (B2B) transactions, which include the invoice, payment and remittance detail. With that in mind, we wish a happy fifth anniversary to the Business Payments Coalition.
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Risk Management: Article Archives

Securing your workstation

June 2017

Staff play a critical role in safeguarding their institutions from potential data breach incidents. A variety of security threats loom for any organization, and an employee’s workspace can be a potential target for attack. Therefore, bolstering your workstation’s security is a crucial component in helping to protect your institution. Keep reading for some questions to help you evaluate your workstation security practices.
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Help strengthen your organization's physical security

March 2017

Attackers who can gain physical access to a device or network can be just as dangerous as ones who attack online. Logical security can help safeguard software with measures like user identification and password access, while physical security can help prevent unauthorized access to buildings, equipment, etc. Learn about some of the best practices for maintaining physical security.
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Help your organization close the door on malware

December 2016

With the prevalence of cybersecurity in the news, keeping up with the latest threats can be difficult. One threat you shouldn’t overlook is malware, also known as malicious software. You may already be familiar with viruses, spyware, worms or bots – all of these terms refer to different types of malware, and they all have the potential to harm a target’s computer and network. As dangerous as malware can be, it’s often powerless without an entry point. Before malware can do its damage, hackers have to find a way to install it on a device or network. Understanding the tactics hackers use is a key step in protecting your institution from malware.
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Treasury Services: Article Archives

There are currently no articles in the FedFocus archive for this service type.

 

 

eBusiness: Article Archives

There are currently no articles in the FedFocus archive for this service type.