Introducing a consolidated news bulletin to aid operations
May 15th, 2008
FedFlash keeps you informed of issues critical to your day-to-day operations.
This new, national publication provides regular updates regarding products and services, processes, technical protocols and contact information. For the fastest delivery of this news, subscribe to Email Notification. Past issues are available in the Previous issues section.
You can expect to see fewer individual communications from the Federal Reserve Banks, as FedFlash will consolidate key national and District information. FedFlash is published every two to four weeks, depending upon the frequency of news applicable to your organization.
A regular feature of this publication is a quick reference guide we call Flashboard. Print and display this section in your operations area to help ensure your staff have this information.
In every issue, we cover both National and District topics. This time around, find out more about:
- Federal Reserve Banks announce price changes for paper check products
- Payor Bank Services sunset dates quickly approaching
- Changes to the HDGS and PPGS routing transit number listings
- Elimination of City Zone in restructured Federal Reserve Bank offices
- Distribution of Economic Stimulus Payments
- Federal Reserve Banks announce new FedReceipt® RTNs
- New pricing policy for carrier documents approaching
- John Quincy Adams $1 Coin released to the public on May 15, 2008
- Upgrade your access to information with FedInsightsSM
- FRBservices.org Service Status functionality
- Check Adjustments Tip: Streamline the Check Adjustments request process with FedLine® Services for Check Adjustments
- 4th District: Changing fractional availability
- 6th District: Changing fractional availability
- 7th District: Discontinuing Amount Encoding Services
- 10th District: Omaha Office discontinuing Amount Encoding Services
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Effective date July 1, 2008
Pricing on paper forward collection and return item services, and select Payor Bank Services, as well as the elimination of some paper deposit options and deposit deadlines, will become effective. If you have any questions, please contact your account executive.
Announcement
The Payor Bank Services July 1, 2008, sunset date is quickly approaching. Customers using one or more of the impacted services are urged to contact their account executive regarding transitioning to Check 21-enabled Presentment Services, such as FedReceipt or FedReceipt Plus, as soon as possible. For more information, please visit FRBservices.org/communications/
payor_conversions.html.
Effective date July 1, 2008
Changes to the High Dollar Group Sort (HDGS) and Premium Plus Group Sort (PPGS) presentment point and routing transit number listings become effective. For more information, visit FRBservices.org/servicefees/hdgs.html.
Effective date July 1, 2008
The Federal Reserve Banks will eliminate the City Zones in restructured offices and move these items to RCPC. If you have any questions, please contact your account executive.
Announcement
The Department of the Treasury, Financial Management Service (FMS) began issuing Economic Stimulus Payments in late April 2008. The majority of the payments will be issued via Direct Deposit or paper check during an 11-week period, concluding July 11, 2008. General information on the Economic Stimulus Payments is located at www.IRS.gov.
Effective date May 19, 2008
New FedReceipt RTNs take effect. For more information, visit FRBservices.org/check.
Effective date August 1, 2008
The Federal Reserve Banks’ new pricing policy for carrier documents will be implemented. If you have any questions, please contact your account executive.
Effective date June 13, 2008
The last day for depository institutions to order John Quincy Adams $1 Coins using the FedLine Web and FedPhone access solutions. To order after June 13 and for more information, visit FRBservices.org/operations/currency/
commemorative_coin.html.
Announcement
FedLine Customer Access Services include FedInsights, a comprehensive suite of information services for financial institutions. FedInsights provides online access to the necessary detail behind your payments, along with tools to help you manage risk. For more information about FedInsights, please visit FRBservices.org and click on Access Solutions.