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Revisions to Operating Circular 4

August 16, 2017

Summary of Key Changes

Effective September 15, 2017, the Federal Reserve Banks are amending Operating Circular 4, Automated Clearing House Items in conjunction with the Phase 2 implementation of Same Day ACH in the ACH Rules. In addition, the file transmission deadlines previously reflected in a table within Appendix B.1.3 of the Operating Circular have been moved to the publicly available Federal Reserve Bank Services website FRBservices.org, and all references within the Operating Circular will now point to the FedACH® Processing Schedule.

The following amendments are reflected in the updated Operating Circular 4:

  • Paragraph 3.4 section (b): clarified language around the criteria for Same Day ACH eligibility
  • Paragraph 14.6: added to address exception process for sending returns in paper form
  • Removed table titled, “File Transmission Deadlines” from Appendix B
  • All references to the deadlines previously included in Appendix B have been removed and replaced with references to the FedACH Processing Schedule

Your continued use of Federal Reserve Bank Services on or after September 15, 2017, constitutes agreement to the new terms of the operating circular.

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