To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
In a press release, the Federal Reserve Board announced its approval of fee schedules for Federal Reserve Bank priced services, effective January 2, 2004. The fee schedules will be available on the Federal Reserve Banks’ Financial Services website at www.frbservices.org beginning October 31, 2003.
The Board also approved the 2004 private-sector adjustment factor (PSAF) for Reserve Bank priced services. In addition, effective January 8, 2003, the Board approved changing the earnings credit rate on clearing balances from the federal funds rate to 90 percent of the three-month Treasury bill rate. The Board also allowed for increasing the frequency with which depository institutions can change contracted clearing balances.