The move to a seven-day accounting cycle in the Account Management Information (AMI) application and Accounting Information Services (AIS) was successfully implemented on June 12, 2023.
What has changed?
- End-of-day accounting statements and files are now available seven days a week via the AMI application, the FedLine Direct® Solution, the FedLine Command® Solution and FedMail®, if applicable.
- The End-of-Day Financial Institution Reconcilement Data (FIRD) file and Statement of Account Spreadsheet File (SASF) may include additional data if users are FedNow® Service participants or correspondents of a FedNow Service participant.
- It is now possible to receive more than one T line or Total Futures Line. The Total Futures line at the end of the FIRD file and Intra-Day (IDAY) Reconcilement file were revised to include all calendar dates. However, all future-dated transactions will continue to be processed and mature only on standard business days. A future total line will not be created for that series of dates if no futures are available for that line. For example, a “T F2” line will be created only if the subscribing customer has transactions waiting to mature on the future calendar days of 6-10. So, if a subscribing customer has transactions maturing on days 1-5 and days 6-10, two Total Future lines will be created: “T F1” and “T F2.” In addition, the total debit and credit amounts which follow each calendar day are the net debit and net credit total for that specific date.
- The Monthly Statement of Service Charges and Service Charges Reconcilement Data (SCRD) may include additional data if users are FedNow Service participants.
- Interest calculations will occur every calendar day. Interest on reserve balances is calculated on the End of Day balance maintained in an account on that day and credited to a depository institution’s account at the Federal Reserve Banks one business day after the end of a maintenance period.
What hasn’t changed?
- The Monthly Statement of Service Charges and SCRD file will continue to be available on the fourth standard business day of the month via the AMI application, the FedLine Direct Solution, the FedLine Command Solution and FedMail, if applicable.
- The IDAY and Cash Management Services (CMS) Plus files will continue to be available on standard business days only. Users may see additional data if they are FedNow Service participants and receive the 19:30 p.m. ET delivery.
- Transactional activity for Fedwire® Funds, Fedwire Securities, the National Settlement Service, ACH, Check and Cash Services will continue to process on standard business days only and not appear on accounting statements on weekends and holidays.
To align with these changes, the Account Management Guide and the AMI-DOR User Guide, which is available via the AMI application within FedLine® Home, have been updated.
Please see the full summary of changes in the Notice of Change (PDF) document and FAQs found on the Account Management Information for Seven-Day Accounting Resource Center. For additional questions, contact Financial Support Office National Accounting and Customer Support (FSO NACS) at email@example.com.