To the Chief Operations Officer of Each Depository
Institution in the Second Federal Reserve District:
The Federal Reserve Banks have amended Operating Circular 6 (“OC6”), Funds Transfers Through the Fedwire® Funds Service.
The amendments include several technical changes throughout the operating circular. Major changes include:
new language in paragraph 18 of the operating circular clarifying the agency relationship that is created when a Fedwire Participant uses a third party service provider to initiate, transmit, receive or otherwise access the Fedwire Funds and Securities Services.
revision of the Fedwire Funds Transfer Security Procedures (Appendix A to the operating circular) to include a new on-line security procedure for use by Fedwire participants accessing the Fedwire Funds Service through the FedLine Direct SM Message channel.
The amendment to OC6 is effective on September 5, 2006. Your continued use of the Reserve Banks’ Fedwire Funds Service on or after that date will constitute agreement to the new terms of the operating circular.
See the operating circulars page of the Federal Reserve Services website for the official versions of these amended circulars. To request a paper copy of the operating circulars, contact your Customer Contact Center.