Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
Fed proposes changes to service hours
The Federal Reserve yesterday requested comment on potential modifications to the Federal Reserve Banks' National Settlement Service (NSS) and Fedwire® Funds Service to support enhancements to the same-day automated clearinghouse (ACH) service. The Board also requested comment on corresponding changes to the Federal Reserve Policy on Payment System Risk related to a new posting time for transactions and an increased daylight overdraft fee.
In September 2018, NACHA's voting members approved amendments to NACHA's Operating Rules and Guidelines to establish a third same-day ACH processing and settlement window that would include a submission deadline of 4:45 p.m. ET and settlement at 6:00 p.m. ET. The later same-day ACH window would allow more institutions to use same-day ACH services during a greater portion of their business day and may promote greater adoption of same-day ACH and availability of the service to originators and end-users. The NACHA rules changes require adjustments to Federal Reserve services to provide for later NSS and Fedwire Funds Service activity.
UPDATE: Published in the 5/16/19 Federal Register, with a 60-day comment period ending 7/15/19.
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