Fed sets payment services fee schedules

Bank News, December, 2005 by Anonymous

Fee schedules for Federal Reserve Bank payment services for depository institutions have been approved by the Federal Reserve Board. The fees are effective Jan. 3, 2006.

The Reserve Banks project that they will recover 102.5 percent of all their priced services costs in 2006 and estimate that they will recover 103.6 percent of these costs in 2005.

Overall, die price level for Federal Reserve priced services will increase about 3 percent in 2006 from 2005. This increase, the Fed said, reflects an approximately 5 percent rise in paper check service fees combined with a 1 percent decrease in fees for the Reserve Banks' electronic payment services. Fee schedules for all priced services are available on the Federal Reserve Banks' financial services Web site at...

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