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FRS | RIN: 7100-AE06 | Publication ID: Spring 2014 |
Title: ●Regulation J--Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfer through Fedwire (Docket No: R-1473) | |
Abstract: The Board of Governors of the Federal Reserve System (Board) is proposing amendments to Regulation J to permit the Reserve Banks to obtain settlement from paying banks by as early as 8:30 a.m. ET for checks that the Reserve Banks present. These proposed amendments are necessary to implement the proposed method for posting debits and credits to banks' Federal Reserve accounts to measure daylight overdrafts under the Federal Reserve Policy of Payment System Risk. | |
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 |
CFR Citation: 12 CFR 210 | |
Legal Authority: 12 USC 248(i)(j) 12 USC 342 12 USC 464 12 USC 360 ... |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Susan Foley Senior Associate Director Federal Reserve System Reserve Bank Operations and Payments System Division, Phone:202 452-3596 Kara Handzlik Counsel Federal Reserve System Legal Division, Phone:202 452-3139 |