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FRS RIN: 7100-AE98 Publication ID: Spring 2019 
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 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.

 
Agency: Federal Reserve System(FRS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
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 Adopted Final Rule  11/30/2018  83 FR 61509   
Final Action Effective  01/01/2019 
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

Ian Spear
Manager
Federal Reserve System
Reserve Bank Operations and Payment Systems,
Washington, DC 20551
Phone:202 452-3959