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April 19, 2014

Federal Reserve Sets New Pricing for Services

On October 31, the Board of Governors of the Federal Reserve System (Federal Reserve) announced new fees for services provided to depository institutions by the Federal Reserve Banks. This action is required each year pursuant to the Monetary Control Act of 1980. The fees are set to recover, over the long run, "all direct and indirect costs and imputed costs, including financing costs, taxes, and certain other expenses, as well as the return on equity (profit) that would have been earned if a private business firm provided the services." The new fees will be posted here over the next several days. Among other things, prices for the following services are generally due to increase: checks, FedACH, FedWire, FedWire Securities and FedLine Access Solutions.

©2014 Katten Muchin Rosenman LLP

About the Author

Jeffrey M. Werthan, Mergers Acquisitions Attorney, Katten Muchin law firm
Partner

Jeffrey M. Werthan is head of the firm’s Banking practice. He has extensive experience representing clients in connection with bank formations, both public and private capital raises, mergers and acquisitions of financial institutions, compensation for financial institution executives and bank regulatory and enforcement issues.

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