Geared to a Main Street audience, this e-newsletter will provide a sampling of the latest speeches, research, podcasts, videos, lesson plans and much more. Sign up now to have this emailed to you monthly at no charge.View Publication
A new Federal Reserve System policy change will become effective June 25, 2001. This policy change, referred to as ACH Settlement Day Finality, will give final credit for ACH credit originations and post them to a depository institution's account at 8:30 a.m. Eastern time on the actual settlement date.
Present policy gives the Federal Reserve the right to reverse settlement until 8:30 a.m. Eastern time on the business day following the settlement date.
ACH Settlement Day Finality is in response to customers' needs for reducing interbank settlement risk, and it paves the way for future ACH product development and innovation. The policy applies to ACH transactions processed by the Federal Reserve, including those transactions sent through another ACH operator. To help manage settlement risk for ACH transactions, the Federal Reserve will implement the same risk-control measure used by the Fedwire and Net Settlement services, which also provide finality.
Additional information on ACH Settlement Day Finality can be found on the Fed's Financial Services web site, www.frbservices.org. Under "Service Information," select "FedACH," then "Operations and Processing."
Keep up with what’s new and noteworthy at the St. Louis Fed. Sign up now to have this free monthly e-newsletter emailed to you.
Fed in Print: An index of the economic research conducted by the Fed.