The Federal Reserve Board announced pricing for payment services offered by the Federal Reserve Banks, effective Jan. 2.

Details: The Fed said:

  • The announcement affects services such as the clearing of checks, ACH transactions, and wholesale payment and settlement services.

  • The price changes will result in a 1.8% average price increase for established, mature services.

  • It expects to recover 103% of actual and imputed expenses in 2024.

  • The Reserve Banks will maintain the existing fee schedule for the FedNow Service.