Effective January 3, 2023, the Federal Reserve Banks will implement two changes to the billing and debiting of fees related to the transfer of U.S. Treasury securities between participants’ securities accounts over the Fedwire® Securities Service. Please be aware of the following changes:
- The timing of billing participants for transfers of U.S. Treasury securities will align with the billing for all other activity conducted on the Fedwire Securities Service. The fees associated with the transfer of U.S. Treasury securities will be included on the bill currently sent on the fourth business day of each month, and participants’ master accounts associated with the Fedwire Securities Service activity will be debited on the 15th of the month (or if the 15th is not a business day, the next business day).
- The daily Treasury Fees Detail Report will be discontinued, since volume and fee details for transfers of U.S. Treasury securities will be included on the bill sent to participants on the fourth business day of each month.
Please be sure to update any internal processes that rely on daily billing of Treasury transfer activity. For questions, please contact the East Rutherford Operations Center at (800) 390-2788.