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FEDERAL RESERVE BANK OF NEW YORK [ Circular No. 9252 ~J February 26, 1982 J NEW FEE SCHEDULE FOR FEDERAL RESERVE CHECK CLEARING SERVICES Effective April 1, 1982 To the C hief Executive Officers o f All Depository Institutions in the Second Federal Reserve District: This Bank has made changes in its fee schedule for commercial check services. The changes will take effect on April 1, 1982, and relate to group sort deposits, package sort deposits, and nonmachinable cash letter deposits. Other check clearing and collection service prices in this District will remain unchanged from the fee schedule contained in our Circular No. 9046, dated April 2, 1981. The current prices for commercial check services were published in March 1981 and became effective August 1, 1981, when open access to and pricing of check collection services began. Those prices were based on estimates of direct and indirect operating costs for check collection in 1981 plus a 16 percent private sector adjustment factor applied to all costs except shipping, which is provided by private companies. The prices were developed using a standardized methodology for all Federal Reserve offices. After six months’ experience with priced check services, the Reserve Banks have revised some of their fees to reflect more accurately the costs associated with their services as well as customer use of individual Reserve Bank services. The variation among Districts in the new fee schedule reflects these considerations. The new price schedule is included in the table printed on the reverse side of this circular. Two general changes should be noted. First, there will now be two prices for nonmachinable deposits: (1) the local nonmachinable per item price for handling such items drawn on institutions within the local Federal Reserve office territory, and (2) a new “ other Fed’’ nonmachinable per item price for such items drawn on institutions located in any other Federal Reserve office territory. Such items are handled twice within the System, and this new price corrects an oversight in the original fee schedule. Second, a combination price will now be charged for package sort deposits: a price for each payor end-point within each package deposit and a price for each item in the deposit. This change will ensure recovery of the cost of handling the package deposit, regardless of the number of items included. Questions concerning these changes and the new prices should be directed to Janet L. Wynn, Operations Analysis Officer (Tel. No. 212-791-6551). A nthony M. S olom on, President. (OVER) A Revisions to Fee Schedule For Federal Reserve Commercial Check Services Effective April 1, 1982 Types of Cash Letter Deposits A ccepted only from institutions located in the territory served by the F .R . office Sent To: Federal Reserve Office Mixed v Bo sto n L e w isto n W in d so r Locks' Other Fed NonMachinable ( p e r ite m ) ( p e r ite m ) A ccepted at the collecting F .R . office from institutions located in any F .R . office territory Other Fed Amount Encoding City County or RCPC (p e r ite m ) ( p e r ite m ) ( p e r ite m ) ( p e r ite m ) Package Sort ( p e r e n d p o in t) ( p e r ite m ) Local NonMachinable Group Sort ( p e r ite m ) ( p e r ite m ) 2.750 1 5 .2 0 0 $2 .0 0 0 .600 N e w York Buffa lo Jericho Cranford U tica 2.87 1 9 .1 0 4.00 0.76 1 1 .9 0 2.200 1.6 6 1 7 .2 0 3.45 0.82 1 0 .0 0 1.33 Philadelphia C lev ela n d Cincinnati Pittsburgh C o lu m b u s 2 .3 0 1 5 .2 0 2.50 0.75 8.00 1 15 .8 0 1.63 0.65 8.60 1 1 12 .8 0 1 3 .1 0 12 .5 0 12.2 0 1 2 .5 0 1.00 1.00 1 .0 0 1.00 1.00 0.74 0.62 0.56 0.45 0.59 5.60 5 .9 0 5 .3 0 5 .0 0 5 .3 0 1 .9 3 2 13 .4 0 1.00 0.70 6.20 2.25 1.90 1.50 1 .5 0 1 .5 0 0.75 0.45 0.73 0.48 0.61 7.40 5.00 6.70 5 .0 0 5.30 Rich m ond Baltimor e Charlotte C olu m b ia Charleston Atlanta Birm in gham Jack son ville N a shv ille N e w Orleans M iam i C h ica g o Detroit D e s M o in es Indianapolis M ilw a u k ee St. Lo uis Little Rock L ou is v ille M e m p h is 1 1 1 3 3 4 3 3 3.200 14 .6 0 1 2 .2 0 1 3 .9 0 1 2 .2 0 12 .5 0 5.000 8.000 3 13 .7 0 1.25 0.64 3.185 6 .5 0 3 2.59 M in n eap olis H elen a 2 .8 0 1 5 .5 0 15 .5 0 1.00 1.00 0.45 0.45 8 .3 0 8.30 Kan sas City D en v er O k la h o m a City O m a ha 2 .9 0 2.32 2 .9 0 2.53 14.8 0 1 7 .2 0 1 4 .4 0 1 4 .5 0 1 .0 0 1.00 1 .0 0 1.00 0.45 0.54 0.52 0.46 7.60 1 0 .0 0 7 .2 0 7 .3 0 2 .4 0 17 .2 0 2.50 0.99 1 0 .0 0 3.52 1 7 .6 0 5.03 1.79 2.21 4 .5 1 0.52 1 0 .4 0 1.52 3.17 1 7 .6 0 4 .4 9 1.68 2.03 3.80 0.44 1 0 .4 0 1. 40 Dallas Hou ston San A n tonio El Paso San Fran cisco Los Angeles Portland Salt Lake C ity Seattle 4.3 3 0 1 .4 7 0 2.11 ‘Charges based on composition of each deposit using city and RCPC prices, where applicable, for intra-office items and other Fed prices for interoffice items. 2Regular mixed deposits of 5,000 items. Large mixed deposits up to 15,000 items are 2.190 per item. ‘Charges based on composition of each deposit using RCPC price for intra-office items and Other Fed price for interoffice items. 4Service not offered. 5Interterritory Group Sort.
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