Effective October 1, 2018, the Federal Reserve Banks are amending Operating Circular 3 (OC 3), Collection of Cash Items and Returned Checks.
The changes principally relate to the new FedPayments® Reporter Service for Check Services. As such, the amendments are almost exclusively confined to Appendix J: FedPayments Reporter Service. The revised version of OC 3 is now available for review at the Operating Circulars page.
Revisions to OC 3 will be effective October 1, 2018. Your continued use of Federal Reserve Bank Services on or after October 1, 2018, constitutes agreement to the new terms of the operating circular.