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Fed360

Welcome to Fed360SM

For nearly a decade, FedFocusSM and FedFlash® have been counted on as vehicles to keep you informed. These two trusted publications have provided strategic and operational updates, as well as insight into the value of our Federal Reserve Financial Services. You’ve seen the transition from print to online over time … and the evolution continues. Today, we are introducing our new twice-monthly Fed360SM publication.

Fed360 combines all the great content you’ve come to rely on into one all-inclusive source. Look for fresh, dynamic content related to the following categories:

  • Accounting
  • ACH
  • Bundled Solutions
  • Cash
  • Central Bank
  • Check
  • Education and Resources
  • Fed Facts
  • FedLine® Solutions
  • General
  • Industry Perspective
  • National Settlement Service
  • Risk Management
  • Securities
  • The Ops Stop
  • Treasury
  • Wires

Fed360 has a clean design, tons of new features, plus a dynamic layout that makes site navigation simple and easy! As you explore the new publication, you’ll find the content is easy to scan. From the home page, you can quickly get to individual articles by clicking the image, the headline or the “Read More” link. On the left hand navigation, you’ll find these clickable or expandable links:

  • Dates to Remember: Displays dates and details for upcoming events and initiatives
  • In Case You Missed It: Displays select previously published Fed360 articles so that important and relevant articles remain top of mind
  • In This Issue: Lists clickable links to each article in the current issue
  • Article Archives: Displays previously published Fed360 articles – take note that certain 2017 FedFocus and FedFlash articles can also be accessed from this page
  • Subscribe: Enables individuals to easily sign up to receive Fed360
  • Email the Editor: Allows readers to submit questions or provide feedback about Fed360
  • Print: Enables readers to print a page or the current issue
  • Share: Provides options to easily share content with colleagues via Twitter or email

If you click open an article of interest, you’ll see compelling content, customer quotes, action items and related content. Check out the nifty slider at the bottom that easily points you to other articles in the issue. 

To become familiar with our new publication, a series of videos is available on the FRBservices.org and Fed360 Videos (Off-site) playlist. Take a look now at the Fed360 intro video:

New user interface for FRBservices.org

As a reminder, we’ve begun to use our new logo on communications, and our redesigned FRBservices.org website is live and ready to efficiently deliver the information you need. Take a look and discover:

  • A new user interface – featuring a mobile-friendly design
  • Reorganized content – accessible from drop-down menus and links in the footer
  • Application Sign In – easy access located in top, horizontal navigation
  • E-Payments Routing Directory – front and center on the home page 
  • Service Status – new, color-coded format
  • Communications – where you’ll find all the latest news 
  • Fed contacts – just a click away

Action Item:

Please note that you’ll need to delete your old FRBservices.org bookmarks and create new ones that point to the new URLs.

To become familiar with the new FRBservices.org navigation, please review the Sitemap. An online feedback form (Off-site) is available to submit questions or provide feedback about the redesign of FRBservices.org.

Take a look now at the FRBservices.org intro video:

  • The FEDucational Benefits of the new FRBservices.org
  • In This Issue

    Fed360

    Federal Reserve Banks announce 2018 pricing and products

    The Federal Reserve Banks are pleased to announce that in 2018, our customers will see relatively stable pricing with minimal increases in a few service lines. The minimal price changes planned for next year reflect the realized benefits of technology investments and enhanced services now available to our customers. We will continue to make investments in our products and services to adapt to the ever-changing payments landscape. Specific change detail can be found on the Service Fees page and in the 2018 Pricing Announcement Letter.

    Continuing to evolve

    The Federal Reserve Banks have recently completed components of a multi-year, comprehensive program to strengthen the resiliency and security of our wire, securities and settlement services. In light of this technology investment, we’ll be normalizing many of our fees in 2018. The Fedwire® Funds Service Payment Notification Origination Surcharge and the Tier 3 Pre-incentive fee will be reduced to encourage the adoption of the industry SWIFT global payments innovation (gpi) initiative. The National Settlement Service and Fedwire Securities Service fees will remain unchanged in 2018.

    In an effort to improve customer experience and simplify ongoing upgrades, FedLine Advantage®, FedLine Command® and FedLine Direct® Solutions monthly package fees will now include all Virtual Private Network (VPN) device equipment needed to operate directly with the Federal Reserve Banks.

    We are also expanding our FedComplete® Package offerings to include a FedLine Command option. Two new packages will allow financial institutions of all sizes the opportunity to automate their Automated Clearing House (ACH) processing.

    In 2017, we updated our Check Services product offerings to more closely align with the current electronic check processing environment. We will continue to evaluate our offerings in light of that environment, and will annually adjust tiers based on volumes as part of that process. As a result, for 2018, some endpoints will be reassigned to new tiers that more accurately reflect their current presentment volumes.

    FedACH® Services continually strive to increase efficiency, provide robust risk management tools and facilitate customer access to cost-effective, electronic payments. Additionally, we are keeping pace with and supporting the significant changes that are occurring in the ACH landscape, in particular Same Day ACH.

    FedCash® Services continue to efficiently respond to market demand for U.S. currency. No price or service changes are planned for 2018.

    Planning for the future

    Changes planned for 2018 reflect our continuing commitment to offering our customers efficient and dependable services while maintaining the integrity of those services and meeting the Federal Reserve Banks’ obligation of cost recovery. We appreciate the opportunity to work with you and look forward to a successful 2018. If you have any questions, please contact your account executive.

    In This Issue

    Fed360

    Contact information form now required before using E-Payments Routing Directory bulk download

    In the fourth quarter of 2018, the E-Payments Routing Directory bulk download will be removed from FRBservices.org. As of November 19, 2017, individuals using this service through FRBservices.org are prompted to provide their contact information before downloading the FedACH® or Fedwire® directories. The Federal Reserve Banks will use this information to provide users with updates on specific timing of the removal of the bulk download from FRBservices.org and how they can access E-Payments Routing Directories in the future. You can also sign up to receive updates using our online form (Off-site).

    All credentialed FedLine Web® or FedLine Advantage® Solutions Subscribers at financial institutions currently have access to the E-Payments Routing Directory via FedLine® Home. Additionally, End User Authorization Contacts (EUACs) and Technical Contacts may request a download code within FedLine to automate a bulk download. Financial institutions are encouraged to begin using the FedLine download options before the FRBservices.org download option is removed. Additional information for non-financial institutions is forthcoming.

    In This Issue

    Fed360

    Improving the paying agent experience with Savings Bonds News You Can Use

    The Department of the Treasury's Bureau of the Fiscal Service and the Federal Reserve’s Treasury Retail Securities Site are continuing to provide savings bond paying agents with access to information on the U.S. Savings Bond Program redemption process through multiple Federal Reserve Bank communication channels. We want to remind you that the dedicated Savings Bonds News You Can Use page features a variety of resources we have gathered to assist you. We encourage you to bookmark the page and check back often for updated content.

    Examples of what you’ll find on the News You Can Use page include:

    • Savings bonds tips
    • Frequently asked questions
    • Related communications
    • Contacts who can help answer your questions

    Look for savings bonds news – such as the topic below – to appear quarterly in future Fed360SM issues.

    Sharpening the focus on redemptions

    To encourage savings bond owners to redeem their bonds, changes are being made to TreasuryDirect.gov (Off-site) and to other Treasury communication materials. Those changes highlight how visiting a local financial institution is the fastest and easiest way to cash savings bonds.

    Bond holders sometimes think they must convert their paper bonds to electronic form before cashing them, but that’s not necessary. When customers only want to redeem, converting to electronic form adds an unnecessary step that extends their wait time before they can even request the redemption.    

    In an effort to help customers get their money faster, Treasury is directing all links dealing with cashing bonds to a new Cashing Savings Bonds (Off-site) landing page on TreasuryDirect.gov. The landing page also provides links for more complex requests and ensures that the first thing customers see is that local banks and credit unions are the easiest and smartest choice for most redemption requests.

    Consequently, when customers visit you for redemptions, it may create opportunities to expand your relationship with them. For example:

    • When your customer redeems a bond for a major purchase, you may be able to help with financing options
    • When your customer wants to continue investing the proceeds, you might have different investment options for them

    Regarding other changes, you’ll also see a new “STOP!” notice on the TreasuryDirect.gov Account Creation page with similar wording and a link to the landing page. This notice hits an entirely different customer base – those who use search engines and wiki pages to research cashing savings bonds. Since many sites mistakenly tell customers they must first convert bonds before cashing them, the “STOP” notice helps direct them to the correct site before they go to the trouble of setting up an account.

    Action Item:

    Visit the Savings Bonds News You Can Use page to access a variety of resources that the Department of the Treasury's Bureau of the Fiscal Service and the Federal Reserve’s Treasury Retail Securities Site have gathered to assist you. We encourage you to submit any comments or suggestions regarding the U.S. Savings Bond Program redemption process via the online form (Off-site) or by phone at (844) 284-2676.

    In This Issue

    Fed360

    The Ops Stop: Get to know the redesigned FRBservices.org website

    The Ops Stop provides your organization with a one-stop shop full of helpful operational resources offered by the Federal Reserve Banks. For this installment of the series, we are featuring some helpful tips on how to find the resources you need on the redesigned FRBservices.org.

    On November 13, 2017, the Federal Reserve Banks changed the way we deliver information to our customers with the introduction of a redesigned website and a new look for our communications. The new FRBservices.org is designed to efficiently deliver the information you need. As a result, the site has been reorganized. As you navigate the new layout, you may notice that some of the pages and resources you rely on are now located in different places and accessible in new ways. Below are a few of the most commonly visited pages on FRBservices.org and where you can find them now.

    • The E-Payments Routing Directory is now featured front and center on the home page of FRBservices.org. With readily accessible search bars for both FedACH® and Fedwire®, the redesigned site provides a quick and easy way to find basic routing information for FedACH transactions and Fedwire Funds and Book-Entry Securities transfers.
    • Application sign-in for FedLine Web®, Reporting Central, Reserves Central and Term Deposit Facility (TDF) are now located in the top, horizontal navigation of the redesigned site. Just go to the upper right corner of any page, select the drop-down menu titled “Application Sign In” and choose the option you need.
    • Holiday Schedules can be found by going to the upper right corner of the top navigation bar, hovering over the “About” drop-down menu and clicking on “Holiday Schedules." The Holiday Schedules page provides a table containing the holiday schedule for the Federal Reserve System through 2021.
    • The Forms page is now accessible from the primary top navigation. With a button that also functions as a drop-down menu, you are now one click away from finding the forms and agreements you will need to set up or use Federal Reserve Bank Services.
    • Contacts are also a click away from any page with a link located in the top, horizontal navigation. The left navigation on the Contacts page helps you quickly find the contacts you need by service area. In addition, you can use the “Find Your Contacts” search on this page to create a directory customized to your ABA, including support contacts and your account executive.
    To become familiar with the new FRBservices.org navigation, please review the Sitemap and view the FRBservices.org intro video (Off-site). Additionally, an online feedback form (Off-site) is available for you to submit questions or provide feedback about the redesigned site.

    In This Issue

    Fed360

    Remember to keep FedACH® contact information current

    Automated Clearing House (ACH) originators often reference the Federal Reserve Banks’ E-Payments Routing Directory and the Composite Receiver File (CRF) to determine if a receiving depository financial institution (RDFI) is a FedACH® Services participant before sending an item. These important resources contain the name, published phone number and location (city, state) for each receiving institution.

    Your institution’s profile in the FedLine Web® Solution is equally important. Your profile contains staff contact information that FedACH Services operations staff will need if contacting you about an issue with a file originated by your institution. Your profile contains information you submitted in Table S.4 of the FedACH Participation Agreement (PDF).

    Action Item:

    Review your institution’s contact information in the E-Payments Routing Directory and in the FedACH application within FedLine Web. If any of this information is outdated, follow the instructions below to update it.

    Step one: Verify

    Check to see what public information is listed for your institution in the FedACH Participant RDFI section of the E-Payments Routing Directory. Is it current?

    Also, use the Display My Profile menu in the FedACH application within FedLine Web to view the non-public information that FedACH operations uses to contact your staff. Is it current?

    Step two: Update

    Follow these steps if you need to update either of these references:

    • For the E-Payments Routing Directory information, you should submit a new Part 1 (PDF), Agreement to Terms and General Participant Information, of the FedACH Participation Agreement.
    • For your Customer Profile in FedLine Web, you should submit a new Table S.4 (PDF), Sending Point Contact Form, of the FedACH Participant Agreement.

    Questions

    If you have questions, please contact FedACH and Check Customer Support at (877) 372-2457.

    In This Issue

    Fed360

    The FEDucational benefits of the new FRBservices.org

    As you learn to navigate the new FRBservices.org, you may be wondering where to find the pages you referenced regularly – those educational tools and resources used to build your FEDucation. Don’t worry! Everything you need is still available and now even easier to access.

    Previously, the tools you used were found under “Events and Education” on the former FRBservices.org navigation. Now, with our new, dynamic site, you’ll find two important fields in the top navigation – the Resources page and the Events and Education page. Let’s dive into them.

    Action Item:

    Be sure to update your bookmarks with the new links below!

    Resources

    On the Resources page, there are links to a variety of services and topics where you can find answers to any questions you may have. You’ll find:

    Events and Education

    The Events and Education page also houses some of our most useful links. Here, you’ll find:

    • Industry Events: Reference this page to see what conferences and events Federal Reserve Banks representatives will attend.
    • Federal Reserve Bank Webinars: Find our instructor-led training webinars, in-person seminars and 24/7 webcasts. View the list and register for the events that will benefit your team.
    • Products & Services Education: Locate links to other educational material organized by service area, so you can hone in on exactly what you need.

    Our goal has always been to help make your institution operate smoothly and efficiently by providing you the tools and information you need to use our services. With our newly designed website, we hope to make navigating and finding what you need even easier. To become familiar with the new FRBservices.org navigation, please review the Sitemap and view the FRBservices.org intro video (Off-site). An online feedback form (Off-site) is available to submit questions or provide feedback about the redesign of FRBservices.org.

    Throughout the years, your FEDucation has been a priority, and it will continue to be as we move into the new year ahead.

    In This Issue