Fed Approves Fee Schedule for Services

November 13, 2017

On Monday, November 13, 2017, the Federal Reserve Board issued an announcement regarding the approval of fee schedules, effective January 2, 2018, for payment services the Federal Reserve Banks provide to depository institutions (priced services). According to the announcement, the Reserve Banks project that they will recover 100 percent of their priced services costs in 2018. The Reserve Banks expect to fully recover actual and imputed expenses, including profit that would have been earned if a private business firm provided the services. Overall, the Reserve Banks estimate that the price changes will result in a 1.4 percent average price increase. The Reserve Banks estimate that the price changes will result in a 0.4 percent average price increase for check customers. The Reserve Banks estimate that the price changes will result in a 3.6 percent average price increase for FedACH® customers. The FedACH price increase is in response to increasing operating costs associated with an ongoing technology upgrade. The Reserve Banks estimate that the price changes will result in a 1.2 percent average price decrease for Fedwire® Funds customers. The fees will remain unchanged for the Reserve Banks' National Settlement Service and Fedwire Securities Service.