May 21, 2015

Federal Reserve Board requests public comment on enhancements to same-day ACH service

For release at 11:30 a.m. EDT

The Federal Reserve Board on Thursday requested comment on enhancements that the Federal Reserve Banks are considering to their current same-day automated clearing house (ACH) service in order to correspond to recently adopted amendments to NACHA's ACH operating rules.

On May 19, NACHA, the electronic payments association that establishes rules for the ACH network, announced that its voting members had approved amendments to the ACH operating rules to allow originating depository financial institutions (ODFIs) to send same-day ACH transactions to accounts held at any receiving depository financial institutions (RDFIs). Unlike the Reserve Banks' current optional FedACH® SameDay Service, NACHA's amended ACH operating rules require all RDFIs to participate in the same-day service, and ODFIs to pay a fee to RDFIs for each same-day ACH forward transaction.

The Reserve Banks propose to adopt this enhanced same-day ACH service by incorporating NACHA's amended ACH operating rules into Operating Circular 4, which governs Reserve Banks' ACH service. The Board is requesting comment on the Reserve Banks' adoption of an enhanced same-day ACH service with mandatory participation of RDFIs and an interbank fee.

A copy of the Board's request for comment delivered to the Federal Register is attached. Comments must be submitted by July 2, 2015.

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Last Update: May 21, 2015