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Effective September 1: Amendments to Operating Circular 1

Effective Sept. 1, 2023, the Federal Reserve Banks will amend Operating Circular (OC) 1, Account Relationships (PDF). Amendments to the OC and its appendices include, among other things, updates for consistency with current billing and processing systems and improving the document’s readability.

Please see the Operating Circulars page for more information, including the amended operating circular, a more detailed summary of changes and a redlined comparison document. For questions, please contact