Circular
Proposed Modifications to Deposit Deadlines & Pricing Practices for ACH Transactions with PSOs
June 21, 2000
Circular No. 11254

Comments Requested by July 25

To All Depository Institutions and Others Concerned in the Second Federal Reserve District:

The Board of Governors of the Federal Reserve System has requested additional comment on deposit deadlines and pricing practices for automated clearing house (ACH) transactions.

Last year, the Board requested comments on the benefits and drawbacks of modifying the Reserve Banks' deposit deadlines and pricing practices for ACH transactions exchanged with private-sector ACH operators (PSOs) (see our Circular No. 11155). Based upon the comments received, the Board has concluded that these deposit deadlines and pricing practices should be modified and is now requesting comments on specific modifications that it is considering. The Board believes that adopting these modifications would enhance competition in the provision of ACH operator services to depository institutions.

The text (pdf - 134kb) of the Board's proposal, as published in the Federal Register is available. Comments should be submitted by July 25, 2000 and should be sent to the Board, as specified in the notice.