7100-AE98 201904 Unified Agenda of Federal Regulatory and Deregulatory Actions 7100 Federal Reserve System FRS Regulation J--Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire (Docket No: R-1599)

The Board of Governors of the Federal Reserve System (Board) is publishing final amendments to Regulation J. The amendments clarify and simplify certain provisions of Regulation J, remove obsolete provisions, and align the rights and obligations of sending banks, paying banks, and Federal Reserve Banks (Reserve Banks) with the Board's recent amendments to Regulation CC to reflect the virtually all-electronic check collection and return environment. The final rule also amends Regulation J to clarify that terms used in financial messaging standards, such as ISO 20022, do not confer legal status or responsibilities.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Completed Actions No No Independent agency 12 CFR 210.2(i) 12 U.S.C. 4001 No Board Requested Comment 03/15/2018 83 FR 11431 Board Adopted Final Rule 11/30/2018 83 FR 61509 Final Action Effective 01/01/2019 No None No No No No Clinton Chen Senior Attorney 7100 Federal Reserve System FRS 202 452-3952 Legal Division, Washington DC 20551 Ian Spear Manager 7100 Federal Reserve System FRS 202 452-3959 Reserve Bank Operations and Payment Systems, Washington DC 20551