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Comments due: Federal Reserve (proposed rule; revisions to Regulation J for FedNow)

August 10

The Federal Reserve Board invites comment on proposed  amendments to Regulation J to govern funds transfers through the Federal Reserve Banks’ new FedNowSM Service by establishing a new subpart C. The proposal would also make revisions and clarifications to subpart B, governing the Fedwire Funds Service, to reflect the fact that the Reserve Banks will be operating a second funds transfer service in addition to the Fedwire Funds Service, as well as proposing technical corrections to subpart A, governing the check service.

Reg lookup: Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire

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August 10
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