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.