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F ederal R eserve Bank OF DALLAS T O N Y J . S A L V A G G IO F IR S T V IC E PR E S ID E N T DALLAS, TEXAS December 1, 1993 75 265-5906 Notice 93-123 TO: The Chief Operating Officer of each financial institution in the Eleventh Federal Reserve District SUBJECT 1994 Fee Schedules for Services Provided by Reserve Banks and the 1994 Private Sector Adjustment Factor (PSAF) DETAILS The Board of Governors has announced the 1994 fee schedules for services provided by the Reserve Banks. The fee schedules apply to automated clearinghouse, transfer of funds and net settlement, noncash collection (through the Jacksonville Branch of the Federal Reserve Bank of Atlanta), book-entry securities, and special cash services, and to electronic connec tions to the Federal Reserve. The fees for 1994 are based on total costs for priced services, including float, the Private Sector Adjustment Factor (PSAF), and a portion of special project costs. The fee schedules become effective January 3, 1994. New check collection services and fees were announced in this Bank’s notice 93-92 dated August 31, 1993. As announced in this Bank’s notice 93-19 dated February 1, 1993, the Board approved System withdrawal from the priced definitive safekeeping service by the end of 1993. The withdrawal eliminated all priced definitive safekeeping, including the safekeeping of definitive securities pledged to state and local governments. The safekeeping of collateral pledged to the discount window, to the Treasury Department, or to other federal government agencies will not be affected. As of February 1, 1993, the Federal Reserve Bank of Dallas and its Branches discontinued providing noncash collection services (deposits and presentment of municipal coupons and bonds). However, noncash collection services are available to your institution through the Jacksonville Branch of the Federal Reserve Bank of Atlanta. The 1994 price and structure changes for noncash collection include implementation of a single national price struc ture, a cash letter fee, and a national credit availability schedule. These changes will enhance the value of noncash as it moves toward a national service. Detailed information on these changes will be forthcoming. 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- In addition, the Board approved the 1994 PSAF for the priced services of Reserve Banks. The PSAF for 1994 will be $103.6 million, an increase of $11.8 million or 12.8 percent from the $91.4 million targeted for 1993. The PSAF is an allowance for the taxes that would have been paid and the return on capital that would have been provided had the Federal Reserve’s priced services been provided by a private business firm. ATTACHMENTS The 1994 fee schedules for the Federal Reserve Bank of Dallas for automated clearinghouse, transfer of funds and net settlement, book-entry securities, and electronic connections are attached. In addition, the Jacksonville Branch’s 1994 noncash collection fee structure is attached. MORE INFORMATION If you have any questions regarding the 1994 fee schedules, please contact the following persons: for commercial automated clearinghouse or transfer of funds and net settlement, please contact Jonnie Miller at (214) 922-6433; for book-entry securities, please contact Robert Feil, (214) 922-6787, at the Dallas Office; Javier Jimenez, (915) 521-8202, at the El Paso Office; Luke Richards, (713) 652-1544, at the Houston Office; or Richard Gutierrez, (210) 978-1401, at the San Antonio Office; for electronic connec tions, please contact Robert Boyanton at (214) 922-5450. If you have any questions regarding the Jacksonville Branch’s 1994 noncash collection fee structure, please contact Dan Maslaney at (904) 632-1003. If you have any questions regarding the PSAF, please contact Gwendolyn Mitchell, Senior Accounting Analyst, at (202) 452-3841, or Gregory Evans, Project Leader, at (202) 452-3945, Division of Reserve Bank Operations and Payment Systems, at the Board of Governors. For additional copies of this Bank’s notice, please contact the Public Affairs Department at (214) 922-5254. Sincerely, ELEVENTH FEDERAL RESERVE DISTRICT Dallas Houston El Paso San Antonio 199 4 FEE SCHEDULES FOR: Automated Clearinghouse Transfer of Funds and Net Settlement Book-Entry Securities Electronic Connections and SIXTH FEDERAL RESERVE DISTRICT Jacksonville Branch 1994 FEE STRUCTURE FOR: Noncash Collection Commercial Automated Clearinghouse Fee Schedule Effective January 3, 1 9 9 4 DEBITS AND CREDITS ORIGINATED Per Item Per Addendum Intradistrict basic fee $ .010 $ .004 Interdistrict basic fee Unsorted Presorted $ $ .014 .012 $ .005 $ .005 Files deposited, per file $ 1.75 Tapes deposited, per tape Premium exchange surcharges* Debits, credits, automated notifications of change (NOCs) and prenotes $25.00 $ .01 *A11 items deposited for processing in the last exchange will be assessed the premium exchange surcharge. RETURN ITEMS AND NOCs Deposited electronically in files with or without other items, returns and NOCs are assessed the same basic fees and surcharges as are applied to debits and credits. Returns deposited electronically in files are also assessed a $0.04 per item surcharge for processing in all exchanges. Created and deposited via CATIE or dedicated terminal access to the ACH history database, returns are assessed a flat per-item fee of $2.00. No other basic fees or surcharges apply. Deposited in paper form, each return item and N0C is assessed a $10.00 handling fee in addition to all fees that would apply if the item were deposited electronically. In addition, the Treasury Department has asked the Federal Reserve to charge depositors of paper government NOCs a $5.00 per-item fee to partially defray the cost of and provide financial institutions an incentive for converting these items to electronic form. ACH participants are assessed a monthly accounting service fee of $20.00 for each routing number listed on the Federal Reserve’s Customer Information File (CIF). An optional service for correspondents and processors, by which files are sorted by institution before delivery, will be assessed a file fee of $10.00 per month for each file sorted. (continued) DEBITS AND CREDITS RECEIVED Intradistrict basic fee* Interdistrict basic fee* Per Item Per Addendum $ $ .010 .014 $ $ .004 .005 NON-ELECTRONIC OUTPUT FEES Tape output (received), per tape** $25.00 Paper output (received)** $15.00 Telephone advice (including first 10 pieces of information) Each additional piece of information $10.00 $ 0.05 Transfer of Funds and Net Settlement Fee Schedules Effective January 3, 1 9 9 4 Transfer of Funds Basic fee per origination or receipt $.53 Surcharge per offline origination $10.00 Surcharge per telephone advice*** $10.00 Net Settlement Basic fee per entry $ 1.00 Fee per settlement arrangement $10.00 Telephone advice $10.00 *Return items received are assessed a $0.04 per item surcharge for process ing in any exchange. **In keeping with the Federal Reserve’s All Electronic ACH effort, non electronic output fees have changed from charges by delivery method to charges for media type received by participants. ***Telephone notification of receipt will be made for offline receivers only Noncash Collection Fee Structure Federal Reserve Bank of Atlanta, Jacksonville Branch Effective January 3, 1 9 9 4 Coupon fees Cash Letters with 5 and Under Coupon Envelopes in a Package Cash Letters with 6 to 50 Coupon Envelopes in a Package Cash Letter Fee $7.50 Cash Letter Fee Coupon Envelopes Paid In-Region 4.75 Coupon Envelopes Paid In-Region 3.00 Coupon Envelopes Paid Out-of-Region 6.75 Coupon Envelopes Paid Out-of-Region 5.00 $15.00 Other Fees Bond Collections1 Return $40.00 Items 25.00 Availability Schedule Number of Business Days Credit will be Passed Past Due Coupon Envelopes: In-Region Payables Out-of-Region Payables Twelfth District Payables Five Eight Eighteen Future Due Coupon Envelopes: All Payables One Day After Maturity2 JPlus actual shipping expense. 2In order to receive credit one business day after maturity, noncash cou pon envelopes must be presented to Reserve Banks the following number of business days before maturity: In-Region Payables Out-of-Region Payables Twelfth District Payables Four Seven Seventeen Federal Agency Book-Entry Securities Fee Schedule Effective January 3, 1 9 9 4 Transfers Originated Online Reversals Online (Receiver) per transaction per transaction $ 2.25 $ 2.25 Originated Offline Received Offline Reversals Offline (Receiver) per transaction per transaction per transaction $10.00 $10.00 $10.00 per month per month $15.00 $ .45 Account Maintenance Per account Per issue* *For issues maintained in pledged accounts, a separate per issue fee will be charged for each individual pledgee. Electronic Connection Fees For Accessing One or More Priced Services Effective January 3, 1 9 9 4 Connection Fees Dial - Receive only (FLASH-LIGHT) $ 30 per month Dial - Receive and Send (Fedline) $ 65 per month Multi-drop Leased Line $ 300 per month Dedicated Leased Line $ 700 per month High Speed Leased Line at 19.2 kb $ 850 per month High Speed Leased Line at 56 kbps $1,000 per month High Speed Dial at 56 kbps $ 350 per month Cross-District Actual cost1 Contingency Hardware Additional Back-up Modem/DSU $ 25 per month Additional Back-up Link Encryptor $ 20 per month Start-up Fees Installation/Training FLASH-Light Fedline and Cl $ Retraining (Fedline) $ Encryption Actual cost2 Software Certification $0 -8 , 0 0 0 100 $ 300 150 (continued) 1 For a leased line cross-district connection, customer pays the actual cost of the circuit and line equipment (e.g., modems, link encryptors) plus a share of the costs for network support equipment and customer support. This fee must be, at a minimum, equal to the standard fee for the particular type of leased line connection (Dedicated or High Speed). For a dial cross-district connection, the standard Receive and Send Dial fee should be charged if the customer can take advantage of an existing WATS line. 2Customer pays for the actual cost of the hardware and any administra tive cost associated with supplying the hardware to the customer. Gateway Fees Connection Fee Gateway District Installation Fee Each District Certification Fee Each District
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