Federal Reserve's Key Policies for the Provision
of Financial Services

Policies

The Federal Reserve Banks offer a wide range of payment services to banks and other depository institutions. These services include distributing and receiving the nation's currency and coin, collecting checks, and electronically transferring funds among banks, such as through Fedwire and the automated clearinghouse. The Federal Reserve charges for many of these payment services; the pricing is carried out according to federal statute and internal policies.

A policy paper issued by the Federal Reserve Board in 1984 and revised in 1990 that sets forth the rationale for the Federal Reserve System's participation in the payment mechanism, describes the System's procedures for evaluating Federal Reserve priced services to depository institutions, and states the System's objectives for the pricing of such services.

Sections of the Federal Reserve Act relating to the pricing of services, as amended by the Monetary Control Act of 1980.

A policy paper issued by the Federal Reserve Board in 1980 that sets forth principles for Reserve Banks in pricing their payment services, as required by the Monetary Control Act.

A policy paper issued by the Federal Reserve Board in 1984 that outlines Federal Reserve System safeguards for avoiding internal conflicts of interest between the exercise of the System's responsibilities for providing priced services to depository institutions and the carrying out of its other responsibilities.

A policy paper issued by the Federal Reserve Board in 1981 that elaborates on the pricing principles for the Reserve Banks.

Administrative procedures established by the Federal Reserve Board in 1981 and revised in 1999 to provide the Reserve Banks with guidance on product pricing and service level changes.

A statement issued in 1995 by the Federal Reserve Board's Committee on Federal Reserve Bank Affairs that provides guidelines for obtaining public comments on the provision of payment services.

Notice of Board approval of the 2009 private sector adjustment factor (PSAF) and fee schedules for Federal Reserve priced services and electronic access.