The Federal Reserve Board recently approved the 2001 fee schedules for the Fed's payments services, with overall prices projected to increase 4.2 percent from 2000 levels. Because of price reductions in recent years, however, the overall price level has risen only half a percent since 1996. Increased operating efficiencies have enabled Reserve Banks to hold the line on fees for Fedwire funds, book-entry securities and ACH in 2001. Price books were mailed to Eighth District institutions on Nov. 22. The amendment provides specific guidance on the content, format and placement of this disclosure information.
Revisions are effective immediately.
Compliance is mandatory as of Oct. 1, 2001.