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VOLUME 3, NUMBER 4 NOCs Available on EDITH EDITH, the Eighth District Interactive Telephone Helpline, is an automated voice response system that allows your financial institution to use a touchtone phone to commu nicate with the host computer at Fed St. Louis. The ability to process ACH notification of change (NOC) transactions is now available on the EDITH system. Using EDITH to electronically transmit NOCs can save your institution time and money. For example, you currently pay $5 for each commercial NOC that you submit on paper, compared to $1 .50 for each commercial NOC that is submitted on EDITH. Government NOCs submitted either on paper or EDITH now cost $ I each. EDITH will accept numeric changes only (i.e., account number, transaction code and individual ID number) . Alphabetic changes, such as name changes, still must be submitted on paper. Price increases for paper transaction fees in I 993 make moving to EDITH even more attractive. If you are interested in signing up for NOCs on EDITH, please call your account executive or Customer Support at 1-800-333-0869 or (314) 444-8680. ACH Performance Measures Once again, the St. Louis Fed was successful in achieving the timely delivery of 99 .9 percent of all items and dollars in the second quarter of this year. In the Eighth District, I 00 percent of ACH items and dollars were available to receivers on-time (availability of entries by 5:30 p.m. ET for day cycle and 5:30 a.m. ET for night cycle) . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FOURTH QUARTER 1992 Take a Peek at Version 2.4 A new release of Fedline software, version 2.4, is scheduled for distribution in the first quarter 1993. The release includes a number of enhancements to current services and several new features. The following is a preview of what to expect from the future release of Fedline. ACH • Batches will be renumbered automatically after splitting, sorting or merging. In the present version of Fedline, renumbering is optional. • A new, and frequently requested, Quick Update Screen will allow you to update multiple detail records in a single screen. • The Derive Return function will support derived Dishonored and Contested Dishonored Returns. Savings Bonds • A Recurring Savings Bonds Order function has been added in response to input from users. Who Am I? • The "Who Am I?" feature will be implemented as a HOT-KEY function. This means that the ALT & W keys will display Fedline configuration in~ formation such as ABA number, institution name, LU name, L TERM, line type, encryption board type, and Bulkdata ID. This data enables the Electronic Access Support staff to better handle your calls for assistance. DOS • Fedline 2.4 will officially support DOS 5.0. Hardware • Fedline version 2.4 will not load on an XT-type PC (a computer with an 8086 or 8088 processor) . The Fed is phasing out support for these types of computers (refer to XT article on Page 2) . All-Electronic ACH Update Progress continues toward the Federal Reserve's objective to convert offline ACH originators and receivers to electronic connections. The following report refers to the number of offline ACH endpoints that converted to an electronic connection in the third quarter. Congratulations to the Arkansas zone for the highest percentage of conversions! EIGHTH DISTRICT ZONE Missouri/ Illinois Arkansas Kentucky / Indiana Tennessee/ Mississippi EIGHTH DISTRICT TOTALS FED SYSTEM TOTALS # OF OFFLINE ENDPOINTS SEPT.92 JUNE 92 77 28 19 25 149 1,895 NUMBER OF CONVERSIONS 60 19 13 17 17 9 6 8 109* 1,191 40 - 704 *Number of commercial ACH endpoints left to convert in the Eighth District before the All-Electronic ACH sunset date. XT Phase-out Since Attention MICR File Receivers Now you can receive your MICR file through the Check Services application in Fedline. When you process your file in the Check Services application, you will receive a Check Collection Report. This report summarizes the contents of your file and contains the file batch count and the total file debits and credits. Currently, MICR customers process their files in the File Transmission Facility (FTF) application. FTF will not be available in Fedline Version 2.4. Fedline Customers who receive their file in SOP IV.8 (Standard Operating Procedure) format will be able to convert to processing their file in the Check Services application. Customers who do not receive their file in SOP format will be able to process their file through the Host Communications application. If you receive your file in SOP format and would like to start processing it in the Check Services application, please call Electronic Access Support at 1-800-333-0861 or (314) 444-8 71 I. Just a Reminder If you currently complete and submit paper forms to the Fed's Statistics department, we'd like to remind you that electronic data submission is now available through Fedline version 2.3.42 for the following financial reports: • FR 2900 Report of Transaction Accounts, Other Deposits and Vault Cash (weekly reporters only) • FR Y9C Consolidated Financial Statements for Bank Holding Companies • FR Y9LP Large Parent Company Only Financial Statements for Bank Holding Companies https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Ready for Dial Out? Dial Out Service for Fedline customers is now available. Through this service, the Fed's Host computer will call your Fedline PC when file or message traffic is available. This means the data you normally dial up to receive through Host Communications (e.g., ACH, MICR, and Funds Transfer) will be delivered automatically and will wait to be processed when you sign on to Fedline in the morning. During the day, as message and file traffic is queued on the Host for your institution, the Host will call your PC and deliver the data automatically. To be eligible for this free service, you must meet certain requirements: • your PC, modem, and telephone line must be dedicated to Fedline; • your modem must have auto answer capabilities; and, • your Fedline PC must be "ON" and set at the Fedline sign-on screen overnight. To sign up for Dial Out Service or to receive more information, please call Electronic Access Support at 1-800-333-0861 or (314) 444-8 711. • FR Y9SP Small Parent Company Only Financial Statements for Bank Holding Companies • FR Y11 Q Combined Financial Statements of Nonbank Subsidiaries of Bank Holding Companies Bank Holding Company filers must use vendor-supplied application software to prepare the Bank Holding Company reports. Fedline is used as the transmission vehicle for these reports. If you would like more information about electronic submission of these reports, please contact your account executive or Customer Support at 1-800-333-0869 or (314) 444-8680. the introduction of Fedline in 1989, the Federal Reserve has added several Fedline services to meet the changing needs of our customers. Recently, customers have expressed interest in more efficient versions of Fedline software with even greater capabilities. We are responding with a new release of Fedline, version 2.4, in the near future . Customers using XT-type computers (personal computers with 8086 and 8088 processors) who are interested in taking advantage of new service offerings and features will need to upgrade their hardware configuration to use version 2.4. Support for Fedline version 2.3, the last version of Fedline that supports XT-type computers, will continue until June 30, 1993. Any remaining XT customers using Fedline version 2.3 are required to upgrade their hardware and convert to version 2.4 by December 31, 1993. What does this mean for your financial institution? If your Fedline software is loaded on an XT-type computer, you will need to upgrade to a higher level of approved hardware to install Fedline version 2.4 before the end of next year. This requirement also applies to Fedline PCs used for offline data entry. Many Fedline customers have already upgraded their hardware to take advantage of faster processing speeds and to improve equipment reliability. If you are one of those customers, you should already be in a position to take advantage of the new Fedline version. If you have questions about Fedline certified hardware, or XT-type PC support, please contact your account executive or Customer Support at 1-800-333-0869 or (314) 444-8680. Contributors to this issue include: Susan Hackney, John Hargett Gloria Harlan, Jeanne Kassing, Kathy Kennerly, Mary Kuni Maria Maravelas, Kathy Paese and Pat Russo. Valerie Coleman, a familiar voice in Funds Transfer, has worked at the Fed since 1979. Prior to joining the Funds Transfer unit, she worked in Savings Bonds, Securities and Treasury Tax & Loan. Valerie speaks to customers daily, researches inquiries, updates the Funds database and monitors EDITH, our voice response system. After working in Funds Transfer for seven years, Valerie says she enjoys helping customers when they call in with a problem and feels a great s ense of accomplishment when she is able to solve the problem. Treasury Pursues "All-Electronic ACH" The U.S. Treasury is aggressively pursuing a program to extend the benefits of electronic ACH to recipients of government payments. This "All-Electronic Government ACH" initiative represents a commitment to improving the timeliness and reliability of the ACH system. In August, the Treasury published a Federal Regjster notice regarding electronic receipt of government ACH payments (e.g. SSA, SSI, VA, etc.) . The Financial Management Service announced that non-electronic government-only ACH receivers must be all-electronic by July 1, 1994. Therefore, these receivers should either establish an electronic connection with their local Fed or receive ACH items through a third-party processor by this date. Each government-only ACH receiver should advise their local Fed as to which of these options they will choose, no later than June 3 0 , 1993. If you would like to discuss your electronic connection options, please call your account executive or Customer Support at 1-800-333-0869 or (314) 444-8680. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Fed Focus on Quality How do you define quality service? That's the question the St. Louis Fed is seeking an answer to in the next several months. Employees of the St. Louis Fed will randomly interview financial institutions throughout the Eighth District to determine their perceptions of quality service in the Cash, Check, Electronic Payments, Electronic Access, Securities, and Accounting departments. Using feedback from financial institutions, the Eighth District will then establish quality measures in each of these areas. These measures will be used to improve the quality of service provided to our customers. Whether it's processing a check adjustment in a timely manner, resolving an ACH research request quickly or providing accurate accounting data on your statement, quality service is our focus . So, in the next few weeks, don't be surprised if you receive a phone call from someone at the Fed asking you, "How do you define quality service?" The following institutions volunteered their time and personnel to assist Electronic Access Support with the Fed's contingency and system tests that were conducted from July through September 1992 . We appreciate your participation. Customers who tested three times during third quarter 1992: First National Bank, Fort Smith, AR First Commercial Bank, Little Rock, AR Citizens Fidelity Bank & Trust, Louisville, KY Customers who tested twice during third quarter 1992: Systematics, Inc., Little Rock, AR Citizens National Bank, Evansville, IN Sunburst Bank, Grenada, MS Missouri Independent Bank, Jefferson City, MO Customers who have tested once during third quarter 1 992 Hurricane Creek Federal Credit Union, Benton, AR Metropolitan National Bank, Little Rock, AR Worthen Bank, Little Rock, AR Perry County Bank, Perryville, AR Magna Data Services, Belleville, IL First State Bank, Grand Chain, IL Bank of Illinois, Mt. Vernon, IL Independent Bankers Bank of Illinois, Springfield, IL Old Exchange Bank, Okawville, IL Old National Bank, Evansville, IN Farmers State Bank, Lanesville, IN Farmers Bank & Capital Trust Co., Frankfort, KY Republic Processing, Louisville, KY Mechanics Bank, Water Valley, MS Bank of Altenburg, Altenburg, MO Bank of Fordland, Fordland, MO First Commercial Bank, Gideon, MO Bank of Kirksville, Kirksville, MO City Bank & Trust, Moberly, MO Central Bank of Lake of Ozarks, Osage Beach, MO First Bank, St. Louis, MO Commerce Bank of St. Louis, MO Mercantile Bank, St. Louis, MO Maries County Bank, Vienna, MO If you are interested in participating in future tests, please call Jeanne Kassjng of Electronic Access Support at 1-800-333-0861 or (3 14) 444-8 71 1. Electronic Delivery Pays Off When the Fed announced the All-Electronic ACH initiative in 1990, the relative cost of supporting a dwindling number of non-electronic endpoints was expected to rise. To recover the increased costs associated with oftline services, higher non-electronic input and output fees have been announced and are outlined below. Transaction fees for the Fed's electronic payments services, however, will remain at current levels. The monthly electronic access fees associated with electronic connections will also remain unchanged in 1993. The price changes are effective January 1, 1993. ACH Large-dollar telephone return Telephone advice Paper commercial return or notification of change Input or output magnetic tape Paper output Voice-response (EDITH) commercial return or notification of change Voice-response government notification of change Paper government notification of change Input file fee CURRENT FEE 1993 FEE $ 7.00 $ 7.00 $ 5.00 $15.00 $ 8.00 $ 1.50 $ 1.00 $ 1.00 $ 1.25 $10.00 $10.00 $10.00 $25.00 $15.00 $ 2.00 $ 2.00 $ 5.00 $ 1.50 $ 7.00 $ 7.00 $10.00 $10.00 $ 8.00 $ 7.00 $10.00 $10.00 $ 4.25 $ 5.25 $ 6.00 $ 7.25 $ 8.50 $ 8.50 WIRE TRANSFER Offline origination surcharge Offline advice surcharge NET SETTLEMENT Offline origination surcharge Offline advice surcharge CHECK Large dollar telephone return notification Large dollar paper return notification TREASURY & AGENCY SECURITIES Offline outgoing transfer ROUTE TO: ■ l!l~...S---~ ali\lli"""-Wniiai I~~ Electronic Currents is a publication of the Federal Reserve Bank of St. Louis and its Little Rock, Louisville and Memphis Branches designed to in form financial institutions within the Eighth District of electronic access issues, products, and services. ©I 992 by Federal Reserve Bank of St. Louis. All rights reserved . Please address all comments, questions, or topic suggestions to: Maria Maravelas Electronic Product Management Federal Reserve Bank of St. Louis P. 0 . Box 442 St. Louis, Missouri 63166-0442 You may obtain additional copies of Electronic Currents or permission to reprint specific articles from the same contact. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 3 Federal Reserve Bank of St. Louis P.O. Box 442 St. Louis, Missouri 63 I 66 4
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