July 21, 2016

Federal Reserve Board announces adoption of changes to part II of the Federal Reserve Policy on Payment System Risk

For release at 4:00 p.m. EDT

The Federal Reserve Board on Thursday announced the adoption of changes to part II of the Federal Reserve Policy on Payment System Risk (PSR policy) to conform with enhancements to the Reserve Banks' same-day automated clearing house (ACH) service previously announced by the Board on September 23, 2015. The Board's PSR policy establishes the procedures, referred to as posting rules, for the settlement of credits and debits to institutions' Federal Reserve accounts for different payment types. The PSR policy changes relate to the posting rules for forward and return same-day ACH transactions and will align the posting rules with changes that the Reserve Banks previously adopted, effective this September, to enhance the efficiency of the ACH network and the broader U.S. payment system.

Specifically, the Board adopted a second posting time for forward same-day ACH transactions at 1:00 p.m. Eastern Time (ET) to supplement the current 5:00 p.m. ET posting time for forward same-day ACH transactions. In addition, the Board established that all returns of future-dated and same-day ACH transactions will post at the next available posting time or following the settlement of the associated forward transactions. The adopted ACH return posting times include 8:30 a.m., 1:00 p.m., 5:00 p.m., and 5:30 p.m. ET, with the specific posting time determined by when the item is received by the Reserve Banks.

The PSR policy changes become effective September 23, 2016, concurrent with the Reserve Banks' enhanced same-day ACH service.

The Board's Federal Register notice is attached.

For media inquiries, call 202-452-2955


    Federal Register notice: PDF | HTML

Last Update: July 21, 2016