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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.