To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
The Federal Reserve Banks are amending the Appendices or Agreements to their Operating Circular 1, "Account Relationships" effective September 1, 2002. Appendix 5, "Transaction Settlement Authorization" and Appendix 6, "Service Fee Settlement Authorization" have been combined into one Appendix 5 entitled "Transaction and Service Fee Settlement Authorization." The wording in Operating Circular 1 has been amended to reflect the change in sections 2.8, 3.1, 4.2 and Appendix 1.
The amendments do not include any changes to account procedures and should simplify the settlement arrangement agreements for transactions and service fees for account holders.
The official version of this and other Operating Circulars can be found at http://www.frbservices.org/Accounting/frAccounting.cfm. To request a paper copy of the circular or for additional information about the revisions to Operating Circular No. 1, please contact Gibran Tasleem at this Bank.