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Federal R eserve Bank OF DALLAS T O N Y J . S A L V A G G IO FIR S T V IC E P R E S ID E N T April 19, 1993 DALLAS, TEXAS 75222 Notice 93-46 TO: The Chief Operating Officer of each financial institution in the Eleventh Federal Reserve District SUBJECT New Fed Automated Clearinghouse (ACH) Services DETAILS The Federal Reserve System’s commitment to continuously improving automated clearinghouse (ACH) services is most recently demonstrated by the conversion to an all-electronic ACH scheduled for completion by mid-year. By establishing electronic access to the Federal Reserve for all ACH originators and receivers, the all-electronic ACH enables participants to select more flexible processing alternatives, obtain greater security, and choose quicker delivery of payments. On October 1, 1993, the Federal Reserve will introduce new enhance ments to ACH services. Originators will have extended deposit times and two additional deposit cycles to schedule ACH processing to meet their internal needs, also allowing for later return item deposit deadlines. Receivers will be able to select from four delivery times instead of two, which can allow for earlier receipt of return items and earlier posting of customer accounts. Correspondents and processors may elect to receive files sorted by depository institution, saving processing time. Other benefits will be confirmation of files overridden or cancelled, improved cross-zone processing, and availabil ity of cross-district advices for print or display via bulk data through CPU link orFedline connections with the District’s RESPONSE network. It is anticipated that the only pricing changes associated with these enhanced services will be a one cent ($0.01) surcharge on all transac tions in the fourth and final cycle each day, which will be a premium cycle. Correspondents and processors may receive sorted files separately for each of their receiving institutions or a single file for all of their receiving institutions. To help you plan to take advantage of these service benefits, you will receive more specific information on all choices prior to the October 1 implementation date. ENCLOSURE The enclosed brochure, "Fed ACH Choices," describes improvements that will be available October 1, 1993. For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012; Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) - 2 - MORE INFORMATION For more information, or if you have questions regarding this notice, please contact Larry Ripley, (214) 922-6429, or (800) 333-4460, extension 6429, at the Dallas Office; Eloise Guinn, (915) 521-8201, or (800) 592-1631, at the El Paso Office; Luke Richards, (713) 652-1544, or (800) 392-4162, at the Houston Office; or Herb Barbee, (210) 978-1402, or (800) 292-5810, at the San Antonio Office. For additional copies of this Bank’s notice, please contact the Public Affairs Department at (214) 922-5254. Sincerely
@FedFRASER