Comments Requested by August 6
To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
The following is from a statement by the Board of Governors of the Federal Reserve System:
The Federal Reserve Board has requested comments on the benefits and drawbacks of modifying the Federal Reserve Banks' deposit deadlines and pricing practices for ACH transactions they exchange with private-sector ACH operators. These modifications may have implications for competition in the provision of ACH services, for the efficiency of the ACH system, and for long-term ACH volume growth.
Comments are requested by August 6, 1999.
Currently, Reserve Banks do not differentiate among private-sector operators, third-party processors, and depository institutions with respect to the processing, delivery, and pricing of ACH payments. The Board is interested in commenters' views on the potential implications of ACH pricing and deposit deadline modifications that would differentiate between private-sector ACH operators and other ACH participants and processors.