[Federal Register Volume 86, Number 149 (Friday, August 6, 2021)]
[Proposed Rules]
[Pages 43143-43144]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-16826]


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FEDERAL RESERVE SYSTEM

12 CFR Part 210

[Regulation J; Docket No. R-1750]
RIN 7100-AG16


Collection of Checks and Other Items by Federal Reserve Banks and 
Funds Transfers Through Fedwire (Regulation J), Extension of Comment 
Period

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice of proposed rulemaking; extension of comment period.

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SUMMARY: On June 11, 2021, the Board of Governors of the Federal 
Reserve System (Board) published in the Federal Register a proposal to 
amend Regulation J to govern funds transfers through the Federal 
Reserve Banks' (Reserve Banks) new FedNow\SM\ Service by establishing a 
new subpart C. The Board also proposed changes and clarifications to 
subpart B, governing the Fedwire Funds Service, to reflect the fact 
that the Reserve Banks will be operating a second funds transfer 
service in addition to the Fedwire Funds Service, as well as technical 
corrections to subpart A, governing the check service. The proposal 
provided for a comment period ending on August 10, 2021. The Board is 
extending the comment period for 30 days, until September 9, 2021.

DATES: For the notice of proposed rulemaking published on June 11, 2021 
(86 FR 31376), comments must be received by September 9, 2021.

ADDRESSES: You may submit comments by any of the methods identified in 
the proposal.

FOR FURTHER INFORMATION CONTACT: Jess Cheng, Senior Counsel (202) 452-
2309, Gavin L. Smith, Senior Counsel (202) 452-3474, Legal Division, or 
Ian C.B. Spear, Manager (202) 452-3959, Kirstin E. Wells, Principal 
Economist (202) 452-2962, Division of Reserve Bank Operations and 
Payment Systems; for users of Telecommunications Device for the Deaf 
(TDD) only, contact (202) 263-4869.

SUPPLEMENTARY INFORMATION: On June 11, 2021, the Board of Governors of 
the Federal Reserve System (Board) published in the Federal Register a 
proposal to amend Regulation J to govern funds transfers through the 
Federal Reserve Banks' (Reserve Banks) new FedNow Service by 
establishing a new subpart C. The Board also proposed changes and 
clarifications to subpart B, governing the Fedwire Funds Service, to 
reflect the fact that the Reserve Banks will be operating a second 
funds transfer service in addition to the Fedwire Funds Service, as 
well as technical corrections to subpart A, governing the check 
service.\1\
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    \1\ 86 FR 31376 (June 11, 2021).
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    The proposal provided for a comment period ending on August 10, 
2021. Since the publication of the proposal, the Board has received a 
request for an extension of the comment period. An extension of the 
comment period will provide additional opportunity for interested 
parties to analyze the proposal and prepare and submit comments. 
Therefore, the Board is extending the end of the comment

[[Page 43144]]

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period for the proposal from August 10, 2021 to September 9, 2021.

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Secretary of the Board under delegated 
authority.
Ann Misback,
Secretary of the Board.
[FR Doc. 2021-16826 Filed 8-5-21; 8:45 am]
BILLING CODE P