The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
AT" \ o Co 3 2—, FEDERAL RESERVE BANK OF NEW YORK January 7, 1994 TO THE ADDRESSEE: Enclosed is a copy of Appendix B to Operating Circular No. 5, entitled "Electronic Access Fee Schedule"; Appendix E to Operating Circular No. 8, entitled "Wire Transfers of Funds Fee Schedule"; and a corrected copy of Appendix 2 to Operating Circular No. 10, entitled "ACH Time and Fee Schedules." --Appendix B to Operating Circular No. 5 contains the new electronic access fee schedules that were announced in Circular No. 10669, dated December 3, 1993. The former fee schedules were contained in Appendix E to Operating Circular N o . 8 (see below). --Appendix E to Operating Circular No. 8 has been revised by deleting the electronic access fee schedules, which have been transferred to Appendix B to Operating Circular No. 5. --Appendix 2 to Operating Circular No. 10, a prior version of which was sent to you on December 14, 1993, has been corrected to reflect our current schedule of closing times for receipt by this Bank of presorted ACH files, which is contained on page 1 of the Appendix. Please substitute this for the version of this Appendix sent to you on December 14. All of the enclosures are effective January 3, 1994. Additional, single copies may be obtained at this Bank (33 Liberty Street) from the Issues Division on the first floor, or by calling the Circulars Division (Tel. No. 212-720-5215 or 5216). CIRCULARS DIVISION M IO C Federal Reserve Bank of New York Appendix B to Operating Circular No. 5 E f f e c t iv e J a n u a r y 3 , 1 9 9 4 ELECTRONIC ACCESS FEE SCHEDULE To All Depository Institutions in the Second Federal Reserve District, and Others Concerned: Fixed Monthly Fees fo r On-line Connections Dedicated leased lin e ........................................................................ Dial-up line (FEDLINE: up to 9.6 Kbps) .................................... Dial-up line (FLASH-LIGHT: up to 9.6 K b p s)........................... High Speed Dial-up line (56.0 K bps)............................................ High Speed Leased line (19.2 K b p s )............................................ High Speed Leased line (56.0 K b p s )............................................ $ 700 $ 65 $ 30 $ 350 $ 850 $1,000 Other Fees fo r On-line Connections Basic installation .............................................................................. $ 300 Basic installation (FLASH-LIGHT)................................................. $ 100 Hardware compatibility te stin g ....................................................... $2,500 Software compatibility testing.......................................................up to $8,000 Retraining........................................................................................... $ 150 Effect of this Appendix on previous Appendix This Appendix — together with Appendix E, revised effective January 3, 1994, to Operating Circular No. 8 (issued simultaneously herewith) — super sedes Appendix E, revised effective January 1, 1993, to Operating Circular No. 8. W i l l i a m J. M c D o n o u g h , President. [Ref. Cir. No. 10669] Federal Reserve Bank of New York Appendix E to Operating Circular No. 8 R e v i s e d e f f e c ti v e J a n u a r y 3 , 1 9 9 4 WIRE TRANSFERS OF FUNDS Fee Schedule To All Depository Institutions in the Second Federal Reserve District, and Others Concerned: This B ank’s schedule of charges for wire transfers of funds is as follows: Wire Transfers of Funds and Other Messages A. Originator: Basic charge per m e s s a g e ................................... Surcharge: Off-line o rig in a tio n ................................... B. Receiver: Basic charge per m e s s a g e ................................... Surcharge: Telephone advice to re c e iv e r................... $0.53 $10.00 $0.53 $10.00 Effect of this Appendix on previous Appendix This Appendix — together with Appendix B, revised effective January 3, 1994, to Operating C ircular No. 5 (issued sim ul taneously herewith) — supersedes Appendix E, revised effective January 1, 1993, to Operating C ircular No. 8. W i l l i a m J. M c D o n o u g h , President. / f f lOlo'dO. CORRECTED COPY Federal Reserve Bank of New York Appendix 2 to Operating Circular No. 10 Revised effective January 3, 1994 ACH TIME AND FEE SCHEDULES TIME SCHEDULE Cutoff Hours This time schedule shows the closing hours for receipt by us from an ACH of presorted ACH formatted files containing debit and/or credit items of various classes. Closing Times1 Interregional: Presort Exchange 1 Exchange 2 Exchange 3 Exchange 4 10:00 a.m. 1:00 p.m. 7:00 p.m. 2:00 a.m. C l o s in g t i m e s r e p r e s e n t t h e e n d o f t h e d e p o s it w in d o w . F i le s m u s t b e c o m p l e te l y r e c e i v e d ( e .g ., d a t a t r a n s m i s s io n fu lly c o n c l u d e d ) b y t h e c lo s i n g tim e . S e n d i n g i n s t i t u t i o n s u s in g d a ta t r a n s m i s s i o n , e s p e c i a l l y t h o s e h a v in g la r g e a n d / o r v a r i a b le v o l u m e s o f d e p o s it s , s h o u ld c o o r d i n a te t h e b e g i n n i n g o f t h e i r t r a n s m i s s io n w i t h in t h e w in d o w t o e n s u r e c o m p l e ti o n b y t h e c lo s i n g tim e . P r e s o r t d e p o s it s o f 5 0 0 , 0 0 0 ite m s o r m o r e p e r e x c h a n g e m u s t b e r e c e iv e d o n e - h a l f h o u r e a r l i e r t h a n t h e i n d ic a te d d e a d li n e . T i m e s l is te d a r e E a s t e r n T im e . Effective Date Windows Items (other than returns, NOCs and NACS2 items) should specify an effective date within the following effective date windows, computed from our processing date. Class Credit Items Effective Date Window One (1) or Two (2) Banking Days Debit Items One (1) Banking Day Only Items with an effective date later than the effective date window will be returned to the sender. 2 N a tio n a l A s s o c i a t i o n f o r C h e c k S a f e k e e p i n g . [Ref. Cir. No. 10669] A-t 10b £ £ Settlement Dates If an effective date is not specified, or if an item specifies an effective date the same as or earlier than our processing date, the settlement date is the banking day following our processing date. The settlement date for return items and NACS items is the banking day of processing (day cycle) or the next banking day (night cycle). If an item specifies a settlement date that is a standard Reserve Bank holiday, the settlement date is the next banking day for us. If an item specifies a settlement date that is not a banking day for the sending institution or the receiving institution, settlement is effected, with respect to that party, as follows: ACH Debit Items: Sending Institution Closed: Credit sending institution’s account on settlement date. Receiving Institution Closed: Debit receiving institution’s account on settlement date or receiving institution may choose next day debit with “as o f ’ adjustment or explicit charge for float. ACH Credit Items: Sending Institution Closed: Debit sending institution’s account on settlement date. Receiving Institution Closed: Credit receiving institution’s account on settlement date. The receiving institution is not considered to receive an item made available to it on the day it is closed until its next banking day for purposes of determining the deadline for return. 2 /4+ l D b Banking Days Our banking days include all days except the following standard holidays that are observed by Reserve Banks:3 All Saturdays, All Sundays, New Year’s Day (January 1), Martin Luther King’s Birthday (third Monday in January), Presidents’ Day (third Monday in February), Memorial Day (last Monday in May), Independence Day (July 4), Labor Day (first Monday in September), Columbus Day (second Monday in October), Veterans’ Day (November 11), Thanksgiving Day (fourth Thursday in November), and Christmas Day (December 25). If January 1, July 4, November 11, or December 25 fall on a Sunday, the next following Monday is a standard Reserve Bank holiday. Settlement Statement Time Schedule The following schedule shows the cutoff hours for receipt by us of settlement statements from local ACH associations: Receipt Deadline (Day of Settlement) Type o f Settlement Day Cycle Night Cycle Supplemental Truncation 8:00 8:00 4:30 4:30 a.m. a.m. p.m. p.m. 3 T h e N e w O r l e a n s B r a n c h o f t h e F e d e r a l R e s e r v e B a n k o f A t l a n t a c lo s e s o n M a r d i G r a s . 3 fif f O G f a FEE SCHEDULES Transaction Fees4 Origination: Interregional presorted deposits5 Interregional addenda record . . 1.20 0.20 1.00 Premium exchange fee6 ........... Receipt: Interregional items ................... Interregional addenda record . . 1.20 0.20 Return item surcharge ..................... 4.00 Fixed Fees Account servicing f e e ................................................... Input file f e e .................................................................. $20.00 per month $ 1.75 per file Discrete Delivery f e e ................................................... $10.00 per file Return Item/Notification of Change (NOC) Fees: Converted Commercial/FRB Return or NOC7 . . Converted Government NOC7 ........................... Voice Response-Originated Government NOC . $10.008 $ 5.00 $ 2.008 4 The following Automated Clearing House transactions will be billed as regular items: Corporate Trade Payments (CTP), Corporate Trade Exchange (CTX), Depository Institution Automated Returns (RET), Depository Institution Automated Notification of Changes (COR), and Prenotifications. 5 Presorted deposits consist of files of interregional transactions presorted by receiving Federal Reserve Office. 6 A premium exchange fee will be assessed on all value debits, non-value debits, and credits originated in the fourth exchange. 7 These returns and NOCs are received by the Reserve Banks primarily in paper form. 8 The fee includes the transaction fee and the return item surcharge (for returns only) in addition to the conversion or voice response fee. * * * Effect of this Appendix on previous Appendix This Appendix supersedes Appendix 2, revised effective January 1, 1993, to Operating Circular No. 10. W i l l i a m J. M c D o n o u g h , President. 4
@FedFRASER