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Federal Reserve Banks Remind of Revisions to Operating Circulars 6 and 7

Amendments effective Oct. 29, 2017.

*Article originally published by FRBservices.org.

October 15, 2017

As a reminder, effective October 29, 2017, the Federal Reserve Banks are amending Operating Circular 6, Funds Transfers Through the Fedwire® Funds Service, and Operating Circular 7, Book-Entry Securities Account Maintenance and Transfer Services.

The changes principally relate to enhancements to the processing options of the FedPayments® Manager–Funds and FedPayments Manager–Securities applications. As such, the amendments are almost exclusively confined to each operating circular’s appendix that addresses use of the FedPayments Manager Service (appendix D of Operating Circular 6 and appendix E of Operating Circular 7).

To help customers understand and prepare for the changes, the Operating Circulars page includes the revised operating circulars and a summary of key changes (PDF). As a convenience, redlined versions of the changed pages of each operating circular, marked against the version currently in effect, are also posted on that page.

Your continued use of the FedPayments Manager and the Fedwire Funds Service or Fedwire Securities Service on or after October 29, 2017, constitutes agreement to the revised terms of the relevant operating circular.

 To read the article at FRBservices.org, click here.