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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

Home Federal Savings Bank values consistent Check Adjustments education for staff

October 2015

Home Federal Savings Bank (Home Federal) is a high-performing financial institution with a small-town, friendly appeal. Home Federal uses many of the Fed’s service offerings, including a range of our Check Services, to deliver services to its customers. Over the years, several of its staffers have attended various Check Adjustments webinars, which have helped to ensure staff is well trained and informed to take advantage of all available resources.
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Customer Support: Article Archives

Austin Telco Federal Credit Union completes an easy transition to the Fed

December 2015

Sometimes change can be a scary thing, especially when it comes to your payments processor. Transitioning to processing payments directly with the Federal Reserve, however, is easy, due to our depth of knowledge and our focus on customer service. Austin Telco Federal Credit Union, like many financial institutions, was on the lookout for ways to use its resources more efficiently. Moving its payments processing from a third-party processor to the Federal Reserve helped the credit union reduce fraud losses and save time.
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Events and Education: Article Archives

Resource centers and FAQs: The go-to places for the answers you've been seeking

March 2016

We’ve all been there – that moment when something doesn’t quite click. Maybe you’ve heard the information before, but you just can’t remember that detail you’re missing. Don’t stress. Did you know that FRBservices.org has a robust Frequently Asked Questions (FAQs) page? There are answers to questions regarding everything from Account Services and Central Bank to FedACH® Services and Treasury Services. In fact, there are 33 sets of FAQs to choose from.
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Kick off spring conference season with the Fed

February 2016

Sometimes getting out of the office is just what you need to get rejuvenated and inspired – and attending exciting industry events can do just that. The Federal Reserve Banks attend many events across the country and even internationally to meet, mingle and collaborate with customers and industry leaders. Learn more about some of the events that we will attend this spring.
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You do the math. 90 events + 3,000 registrants = a whole lot of FEDucation!

January 2016

The new year is a time for reinvigorated motivation, new goals and refreshed mindsets. It’s also a good time to look back at the year past. What successes did you see? What habits do you want to lose or keep? How can what you learned propel you into an even more successful year? Approximately 3,000 people attended our events last year – were you one of them?
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From Twitter to E-Alerts: Stay up-to-date with the Federal Reserve Banks

December 2015

3…2…1…blast off! Federal Reserve Bank Services is now on Twitter! We are excited to announce the launch of our Twitter account: @FRBservices, your new source for Federal Reserve Bank Services updates. Whether you’re on Twitter or not, don’t forget about our other communication channels. We have a variety of resources to fit your needs.
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Celebrate American Education Week by boosting your FEDucation

November 2015

This year, the National Education Association has set aside November 16-20 to celebrate American Education Week. Like teachers across the country, the Federal Reserve Banks work hard to provide a top-notch education to financial institutions or, as we like to call it, a FEDucation. Let’s take a look at a few of our complimentary 24/7 on-demand webcasts.
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Don't let Halloween scare you away from your FEDucation

October 2015

Now is the time of year when vampires and werewolves are on the prowl and lurking around the corner. It can be a scary time to be on your own. Worry not – when it comes to your FEDucation, you are never alone. In this issue, we’ll take a look at the Fed’s new FedLine Advantage® Teleseminar.
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It's time to go back to school with the Fed

September 2015

Ah, those wonderful, sun-filled days of summer! Soon they will be just a distant memory as fall approaches and students return to school. It may also be a good time for you to kick-start your FEDucation. Read on for a quick overview of the Fed’s education curriculum, including a refresher on our simplified, online registration system.
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Learn how our services can help improve your business continuity plans

August 2015

With financial institutions seeing threats from all sides, robust business continuity planning is now more important than ever. Financial institutions have access to a suite of information services offered by the Federal Reserve Banks that can help support day-to-day activities and can aid in recovery processes in the event of a business interruption.
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Meet Fed staff at upcoming industry events

July 2015

The Federal Reserve Banks actively seek opportunities to collaborate with our customers, as well as the banking and financial industry as a whole. One of the ways we accomplish this goal is by participating in industry events throughout the year. Read on for a sampling of upcoming events at which Federal Reserve staff will be present.
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Are you taking advantage of our top-notch tools and training?

June 2015

Providing a comprehensive compliance training program for your institution is essential to helping prevent financial losses and reputational harm. Keeping up-to-date with new and increasingly complex risk factors also takes the right tools. We’re here to help with both! Learn about the FedTransaction Analyzer tool and the corresponding 24/7 on-demand webcast.
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An ode to FEDucation

May 2015

Don’t despair if you forgot to take advantage of National Poetry Month in April. We’ve continued the celebration with our poem on the Federal Reserve Banks’ educational opportunities. Not only can you expand your FEDucation, but you can also flex your poetic muscles in the process! Learn how to register for 24/7 complimentary webcasts and more.
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Reading and learning go hand in hand

April 2015

National Library Week, which will be observed April 12-18, is a time to celebrate the contributions of our nation's libraries and librarians and to promote library use and support. Just as reading is one way to learn something new, attending any of the Federal Reserve Bank Events is a great way to gain greater insight, build your skills in using Federal Reserve Financial Services and boost your FEDucation. Check out all of the Fed’s learning opportunities that are available to your institution.
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FedACH® Services: Article Archives

'Tis the season to report ACH data and demonstrate processes

December 2015

As anyone involved with Automated Clearing House (ACH) operations knows, there are a lot of moving parts involved in the processing of ACH transactions. At year-end, it seems that another layer of data and accountability reporting can be added on top of day-to-day tasks. The FedACH FedPayments® Reporter Service can help by automating some of the data gathering, reporting and report delivery tasks for you. Make sure it’s on your wish list.
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Evolving with the times: Commerce Bank and FedACH Risk® Origination Monitoring

August 2015

The Federal Reserve Banks have been offering the FedACH Risk® Origination Monitoring Service for nearly 10 years now, so we thought it might be a good time to take a look at how the service continues to help financial institutions with their risk management efforts. Back in 2006, a FedFocus article featured Jim Belliveau, executive vice president with Commerce Bank. Because Commerce Bank was one of the FedACH Risk Origination Monitoring Service’s early adopters, we wanted to understand how the service continues to work for the bank today.
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Greatest hits: Commercial Bank sings the praises of FedACH® Services

June 2015

In the March 2015 FedFocus article, “Commercial Bank leverages the ease and automation of the FedTransaction Analyzer® tool,” we spoke with Michelle Huddleston at Commercial Bank in Harrogate, Tennessee. At that time, Huddleston mentioned that the FedTransaction Analyzer tool is only one of several Federal Reserve Financial Services tools her institution employs to manage risk monitoring, compliance and reporting tasks. We wanted to hear more, so we visited again with Huddleston to understand the ways in which her institution benefits from the full range of FedACH Services.
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Bank of Labor utilizes FedGlobal® ACH Payments to provide solutions for its customers

April 2015

Now, more than ever, businesses and consumers are sending money internationally. The FedGlobal ACH Payments service provides financial institutions a wide range of payment options to help meet that demand by combining convenient access to popular payment destinations with robust customer support. Read on to learn how Bank of Labor is using FedGlobal ACH Payments to provide an international payment offering to its customers.


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FedCash® Services: Article Archives

2016 marks the seventh year of the America the Beautiful Quarters® Program

January 2016

For the seventh 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. Learn more about the quarters scheduled for release in 2016.
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Take advantage of the U.S. Currency Education Program's new Online Training Module

January 2016

Do you know what to look for to spot a potential counterfeit banknote? Do you know how to use the security features in genuine U.S. currency? Our new Online Training Module was designed to help you learn how to quickly authenticate genuine U.S. currency and spot potential fakes. It takes only 20 minutes to complete the module, and you’ll have the chance to test your knowledge as you learn.
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What is meaningful access for U.S. currency?

December 2015

For many people, identifying the denomination of a banknote is fairly straightforward, but for the blind and visually impaired community, it can be a significant challenge. The Bureau of Engraving and Printing (BEP) commissioned a study in 2008 that analyzed the needs of this community, examined options to improve access and performed a cost impact analysis. Learn more about the BEP's three recommendations based on the results from the study.
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Check out the U.S. Currency Education Program's new website

November 2015

Did you know that the estimated lifespan for a $1 note is 5.8 years whereas the estimated lifespan for a $100 note is 15 years? More U.S. currency facts like this are available on the U.S. Currency Education Program’s new website, uscurrency.gov, which provides educational tools that allow users to explore all the designs and denominations of Federal Reserve notes.
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Federal Reserve and cash handling industry leaders collaborate on supply chain logistics

October 2015

The Federal Reserve, financial institutions, armored carriers and U.S. merchants have started collaborating to bring greater transparency and efficiency to cash logistics. The industry is jointly working on the Cash Visibility initiative, which will lead to the development and implementation of an industry approach to support cash package traceability systems.
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Does the Fed print money? Watch to find out!

October 2015

In the January and June issues of FedFocus, we linked to videos that showed you how the Federal Reserve Board determines how much money to order each year, as well as how money gets into circulation. In our latest video, Michael Lambert, associate director for the U.S. Currency Program at the Federal Reserve Board, discusses how money is printed.
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Beyond Mother Nature ... special events may also impact FedCash® Services

July 2015

Mother Nature brings her share of disruptions, but business continuity events are not always weather-related. Special events, such as large political conventions or mega sporting events, may also require advance planning to avoid service disruptions. Learn how to prepare for such events and their impact on FedCash Services operations, cash transportation networks or other key infrastructure.
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Have you ever wondered how U.S. currency makes its way into circulation? Watch this!

June 2015

Did you know that once printed, Federal Reserve notes make their way to the public through the 12 Federal Reserve Banks and their network of cash operations? As explained in our latest video, Michael Lambert, associate director for the U.S. Currency Program at the Federal Reserve Board, discusses how U.S. currency gets into circulation.
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FedLine® Access Solutions: Article Archives

FedLine Advantage® helps Roxboro Savings Bank streamline its wire processing

February 2016

The FedLine Web® access solution is a cost-effective online connection that offers a broad range of information services, including FedACH® Services, FedCash® Services, Accounting and Billing information. However, did you know that there are even more options available to you if you transition to the FedLine Advantage® access solution?  Read on to learn about Roxboro Savings Bank’s transition from FedLine Web to the FedLine Advantage access solution.
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FedLine access solutions are your connection to broad network reach and valuable end-user resources

January 2016

Each new year brings with it the habitual list of resolutions. This year, resolve to take full advantage of the contemporary technology, flexible options for payment clearing and information services and value-added resources the Federal Reserve Banks’ suite of FedLine® access solutions provides. A variety of innovative product offerings are available for financial institutions of all sizes. Learn more about the suite of flexible and comprehensive options.
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Automated ACH processes with FedLine Command® help Southwest Bank prepare for winter

November 2015

Mother Nature can be unpredictable. Automating your Automated Clearing House (ACH) processes can help you prepare for whatever winter weather may come your way and give you peace of mind. Did you know that the FedLine Command® access solution can fully automate your transaction and reporting processes from start to finish? That’s exactly what Southwest Bank chose to do.  
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A conversation about security in a rapidly changing environment

May 2015

Back in 2004, we first spoke to you about security in our inaugural issue of FedFocus and during the initial launch of the FedLine Advantage® access solution — our first online solution for transaction-based services. This month, over a decade later, we sit down to have a conversation with Pier Deganello, assistant vice president of Risk Management at the Federal Reserve Bank of Chicago, to learn about the security landscape now. Read on to learn how the security environment has changed and how the FedLine® access solutions can help your institution manage these changes.
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Did you know that fully utilizing your FedLine connection may lead to revenue growth?

April 2015

For many financial institutions, the information that is contained within the Automated Clearing House (ACH) payment file may be as valuable as the actual payment. As the ACH network is increasingly being used to send business-to-business payments, financial institutions that are able to leverage this information will be able to extend its value to their corporate customers and may increase payments-related revenue. Discover how the Fed’s services may help deliver bottom line growth for your institution.
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Fedwire® Services: Article Archives

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

 

 

General: Article Archives

Fed Facts: A glance at historic firsts for Fed women

March 2016

Since the Federal Reserve was founded in 1913, men with intriguing names such as Canby, Preston, Ogden and Marriner have made great strides in shaping the nation’s central bank. A few years prior, in 1908, 15,000 women marched through New York City demanding shorter hours, better pay and voting rights. Since International Women's Day is coming up and since March is Women's History Month, let’s take a look at a few of the women who figure prominently in the Federal Reserve’s history.  
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Fed Facts: There are only 12 of them serving the entire U.S.

February 2016

Each February, our country pays tribute to U.S. presidents, and we bankers get to enjoy a federal holiday on the 15th due to the observance of George Washington’s birthday. Along those same lines, let’s take a look at the important role our 12 Federal Reserve Bank presidents play. Keep reading to meet the Federal Reserve Bank presidents and learn more about how they are selected and how long they serve.
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Inquiring minds want to know ... be sure to check out the new Fed Facts article each month

January 2016

Have you ever pondered such questions as “Who owns the Federal Reserve?” or “Does the Federal Reserve own or hold gold?”? If so, you’ll be interested to learn that we’ve added a new Fed Facts article to FedFocus each month. In it, we’ll share some fascinating and little known tidbits about the Fed. To get us started, let’s take a look at the robust FederalReserveEducation.org website. This site is chock-full of info that’s geared toward educators, students and consumers.
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Federal Reserve Banks announce 2016 pricing and product changes

November 2015

The Federal Reserve Banks value the relationship we have with you, and we strive to deliver products and services that meet your needs. We continue to look to the future as we make strategic investments in the security and reliability of our services. Many of the changes in 2016 reflect our goal to achieve greater end-to-end efficiency for payments and enhance our payment, settlement and risk management services. We look forward to serving you in 2016.  


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Southern Mass CU strengthens its Fed relationship with FedComplete® Packages

September 2015

Since its founding in 1922, Southern Mass Credit Union (SMCU) has grown from a small telephone workers’ credit union nestled in a working-class fishing community to a large institution serving over 14,000 members in both Massachusetts and Rhode Island. SMCU President and Chief Executive Officer Daniel Waltz and Operations and IT Manager Richard Telesmanick shared how the Federal Reserve Banks have worked with SMCU, helping the credit union meet its business and operational needs.
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Your opinion is important to us! Take the Fed's publications survey by August 21, 2015

August 2015

As a FedFocus subscriber, you’ve likely come to depend on each monthly issue to keep you informed about hot topics in the industry and to provide insight into the value of our Federal Reserve Financial Services. The Federal Reserve Banks are seeking input from FedFocus and FedFlash® subscribers via an online survey available now through August 21, 2015.
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The what, when and where of the National Settlement Service

April 2015

The National Settlement Service (NSS) is a multilateral settlement system with real-time finality − once a settlement file has been successfully processed by the Federal Reserve Banks, the settlement entries are final and irrevocable. The service offers financial institutions involved in multilateral settlement arrangements a fast and efficient means to settle the obligations that arise under those arrangements. Learn about the benefits of the NSS, its hours of operation and where to go for more information.


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Industry Perspective: Article Archives

The Federal Reserve is making strides to adopt ISO® 20022 in the U.S.

March 2016

The Federal Reserve Banks have been collaborating with several other organizations known as the Stakeholder Group to prepare for the adoption of the ISO® 20022 standard for domestic and international wire and integration with and/or potential conversion for domestic Automated Clearing House (ACH) payments. Learn more about the plans for the two major wire transfer systems in the U.S., the Federal Reserve Banks’ Fedwire® Funds Service and The Clearing House’s CHIPS® funds-transfer system, along with the next steps for the ACH network.
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Celebrating the anniversary of Strategies for Improving the U.S. Payment System

February 2016

On January 26, 2016, we celebrated the one-year anniversary of Strategies for Improving the U.S. Payment System, a multi-faceted plan for collaborating with payment system stakeholders to enhance the speed, safety and efficiency of the U.S. payment system. To highlight the past year of collaboration, the Federal Reserve has released a Strategies for Improving the U.S. Payment System – February 2016 Progress Report.
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Web payment standards play a key role in payment system improvement

September 2015

Standardized formats should help make the payments world go round. In recognition of the importance standards play in realizing payment system improvement goals, the Federal Reserve is taking part in efforts to create Web-based technology standards for payments through participation in the World Wide Web Consortium’s (W3C) related interest groups.
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Werkema on his new role as Payments Strategy Director

July 2015

In an announcement on May 29, 2015, the Federal Reserve named Gordon Werkema as the new Payments Strategy Director tasked with leading the major payment system improvement initiatives outlined in the “Strategies for Improving the U.S. Payment System” paper. Werkema was gracious enough to take time out of his busy schedule to answer a few of our questions and give us some insight into his new role as Payments Strategy Director.


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Remittance Coalition publishes Small Business Payments Toolkit

July 2015

Converting every U.S. business from paper to e-payments and achieving a ubiquitous, straight-through, electronic process for sending remittance information may seem like impossible tasks, but that’s exactly what a group called the Remittance Coalition is working toward. A recent output from the group is the Small Business Payments Toolkit, which provides information to small businesses on electronic payments.
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Payments Stakeholders: Can't We All Just Work Together?

May 2015

The February 23, 2015, Take On Payments weekly blog featured an article entitled, “Payments Stakeholders: Can't We All Just Work Together?” written by David Lott, a retail payments risk expert in the Retail Payments Risk Forum at the Federal Reserve Bank of Atlanta. Read on for a reprint of the article, which calls to mind the insightful words of Henry Ford.
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Engage for change: Join the Fed's payments improvement task forces

April 2015

The time to join is now! The Federal Reserve has opened registration for two task forces described in its recently published Strategies for Improving the U.S. Payment System paper. The Faster Payments Task Force and Secure Payments Task Force are part of the Fed’s strategy to enhance its level of engagement with payment stakeholders to advance the strategies set forth in the paper. Each task force is open to all interested stakeholders with relevant payments knowledge and experience who can commit the required time and resources to these key initiatives. Find out how you can get involved!
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Risk Management: Article Archives

Help protect your email inbox from spam and phishing

March 2016

In the January 2015 FedFocus article, “Email fraud — It's only getting more sophisticated,” we provided a basic overview of some of the most common email security threats: spam, phishing, malware and viruses. In a future issue, we will explore the latter two, but now we want to take a deeper dive into spam and phishing. Education plays a key role in combatting email fraud, and we encourage you to work with your institution’s information security team to learn more.
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New toolbox launched to help you build up your risk management program

March 2016

We know that building a risk management program requires you to have a variety of tools on hand. That’s why the Federal Reserve recently launched a Risk Management Toolbox to help you better mitigate risk by using our information services. The toolbox guides you through a series of potential risks that present challenges to institutions like yours. Learn more about how our services can help further enhance your risk management efforts.
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Email fraud — It's only getting more sophisticated

January 2016

Since the early 1990s, businesses have been using email as a cost-effective communication, collaboration and information-sharing tool. Email has, for many organizations, become the primary method for corresponding with colleagues, customers and business partners. Unfortunately, adversaries often take advantage of this reliance on email to attack information infrastructures. Read on for an overview of some of the most common email security threats.
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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.