Operating Circular No. 12 Revised
May 7, 2009
Circular No. 12094

Effective June 4, 2009, the Federal Reserve Banks are amending Operating Circular 12, Multilateral Settlement.

Key changes made by the amendment include the following:

  • The Reserve Banks will begin offering a new access channel, FedLine Direct®, which Settlement Agents may used to access the National Settlement Service.  Appendix C of Operating Circular 12 is being modified to address how FedLine Direct® users will access the National Settlement Service.
  • In addition, Appendix B of Operating Circular 12 is being amended to list the security documentation relevant to FedLine Direct®.
  • Finally, Operating Circular 12 is being revised to accurately reflect the suite of service marks the Reserve Banks own.

See the link below on the Federal Reserve Financial Services website for the official version of the amended operating circular. To request a paper copy of any operating circular, contact your Customer Contact Center.

Operating circulars offsite

"FedLine Direct” is a registered service mark of the Federal Reserve Banks"