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FRS RIN: 7100-AE98 Publication ID: Fall 2018 
Title: ●Regulation J--Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire. (Docket No: R-1599) 
Abstract:

The Board of Governors of the Federal Reserve System (Board) is publishing for comment proposed amendments to Regulation J.  The proposed amendments are intended to clarify and simplify certain provisions of subpart A 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, Availability of Funds and Collection of Checks, to reflect the virtually all-electronic check collection and return environment.  The proposed rule would also amend subpart B of Regulation J to clarify that terms used in financial messaging standards, such as ISO 2022, do not confer legal status of responsibilities.

 
Agency: Federal Reserve System(FRS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
EO 14192 Designation: Independent agency 
CFR Citation: 12 CFR 210.2(i)   
Legal Authority: 12 U.S.C. 4001   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Board Requested Comment  03/15/2018  83 FR 11431   
Board Expects Further Action  10/00/2018 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Clinton Chen
Senior Attorney
Federal Reserve System
Legal Division,
Washington, DC 20551
Phone:202 452-3952

Stephanie Martin
Associate General Counsel
Federal Reserve System
Legal Division,
Washington, DC 20551
Phone:202 452-3198