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FRS | RIN: 7100-AG16 | Publication ID: Fall 2021 |
Title: ●Regulation J--Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire (Docket No: R-1750) | |
Abstract:
The Board of Governors of the Federal Reserve System (Board) is proposing amendments to Regulation J to govern funds transfers through the Federal Reserve Banks’ (Reserve Banks) new FedNow SM Service by establishing a new subpart C. The Board is also proposing changes and clarifications to subpart B, governing the Fedwire Funds Service, to reflect the fact that the Reserve Banks will be operating a second funds transfer service in addition to the Fedwire Funds Service, as well as proposing technical corrections to subpart A, governing the check service. On August 6, 2021, the Board extended the comment period to September 9, 2021. |
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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 U.S.C. 248(i) 12 U.S.C. 248(j) 12 U.S.C. 248(o) 12 U.S.C. 342 ... |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Gavin Smith Senior Counsel Federal Reserve System Legal Division, Washington, DC 20551 Phone:202 452-3474 Jess Cheng Senior Counsel Federal Reserve System Legal Division, Washington, DC 20551 Phone:202 452-2309 |