Does your organization review its Statement of Service Charges each month to ensure accuracy? If not, we encourage you to set aside time for this important process and notify the Federal Reserve Banks as soon as possible if you believe there is an error.
As a reminder, the Statement of Service Charges details charges for your financial institution based on services performed by the Federal Reserve Banks. This monthly report is produced on the third business day of the month and is available to customers on the fourth business day of the month.
The Account Management Guide offers additional guidance and examples. You may also visit Operating Circular 1 for more information regarding service charges.
