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Notice

Prices for Federal Home Loan Bank Services

Document Details

Information about this document as published in the Federal Register.

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Start Preamble

AGENCY:

Federal Housing Finance Board.

ACTION:

Notice of prices for Federal Home Loan Bank Services.

SUMMARY:

The Federal Housing Finance Board (Board) is publishing the prices charged by the Federal Home Loan Banks (Banks) for processing and settlement of items (negotiable order of withdrawal or NOW), and demand deposit accounting (DDA) and other services offered to members and other eligible institutions.

EFFECTIVE DATE:

March 6, 2000.

Start Further Info

FOR FURTHER INFORMATION CONTACT:

Gwen R. Grogan, Associate Director, Office of Supervision (202) 408-2892; or Edwin J. Avila, Financial Analyst, (202) 408-2871; Federal Housing Finance Board, 1777 F Street, N.W., Washington, DC 20006.

End Further Info End Preamble Start Supplemental Information

SUPPLEMENTARY INFORMATION:

Section 11(e) of the Federal Home Loan Bank Act (Bank Act) (12 U.S.C. 1431(e)) authorizes the Banks: (1) to accept demand deposits from member institutions; (2) to be drawees of payment instruments; (3) to engage in collection and settlement of payment instruments drawn on or issued by members and other eligible institutions; and (4) to engage in such incidental activities as are necessary to the exercise of such authority. Section 11(e)(2)(B) of the Bank Act (12 U.S.C. 1431(e)(2)(B)) requires the Banks to make charges for services authorized in that section, which charges are to be determined and regulated by the Board.

Section 975.6(c) of the Board's regulations (12 C.F.R. 975.6(c)) provides for the annual publication in the Federal Register of all prices for Bank services. The following fee schedules are for the Banks which offer item processing services to their members and other qualified financial institutions. Most of the remaining Banks provide other Correspondence Services which may include securities safekeeping, disbursements, coin and currency, settlement, electronic funds transfer, etc. However, these Banks do not provide services related to processing of items drawn against or deposited into third party accounts held by their members or other qualified financial institutions.

District 1.—Federal Home Loan Bank of Boston (2000 NOW/DDA Services)

(Services not provided)

District 2.—Federal Home Loan Bank of New York (2000 NOW/DDA Services)

(Does not provide item processing services for third party accounts)

District 3.—Federal Home Loan Bank of Pittsburgh (2000 NOW/DDA Services)

Deposit Processing Service (DPS)

Effective 1/1/2000

DPS Deposit Tickets $0.6500 per deposit

Printing of Deposit Tickets Pass-through

Deposit Items Processed

[Pricing varies—tiered by monthly volume]

For volumes ofPer item (transit)
1-25,000$0.0407
25,001-58,5000.0402
58,501-91,5000.0397
91,501-125,0000.0392
125,001-158,5000.0377
158,501-191,5000.0357
191,501 and over0.0327

Deposit Items Encoded (West)

[Pricing varies—tiered by monthly volume]

For volumes ofPer item
1-25,000$0.0398
25,001-58,5000.0394
58,501-91,5000.0390
91,501-125,0000.0386
125,001-158,5000.0373
158,501-191,5000.0368
191,501 and over0.0363

Deposit Items Encoded (East)

[Pricing varies—tiered by monthly volume]

For volumes ofPer item
1-25,000$0.0352
25,001-58,5000.0347
58,501-91,5000.0342
91,501-125,0000.0337
125,001-158,5000.0322
158,501-191,5000.0312
191,501 and over0.0306
Deposit Items Returned$18.0000per item
Deposit Items Photocopied3.9500per photocopy
DPS Photocopies—Subpoena21.0000per hour of processing time, Start Printed Page 11780
plus0.3000per photocopy
Deposit Items Rejected (applicable to pre-encoded deposits only)0.2300per rejected item
Canadian Item Processing5.2500per item
All Foreign Collection Charges (Includes Foreign Collection Fees, Bought Foreign Collection Fees, Foreign Bank Processing Charges, and Foreign Check Courier Charges)pass-through
Adjustments on DPS Deposits (applicable to pre-encoded deposits only)3.00per adjustment
Foreign Return Check Fee35.0000per item
DPS Transportation (West)9.9500per pickup
DPS Transportation (East)9.9500per pickup
Return Check Courier Service145.0000per month

Depository Account Services

On—US Returns Deposited:
Qualified Returns$1.2000per item
Raw Returns4.5000per item
Mail Deposits5.7500per deposit
Bond Collection:
Bearer40.0000per bond
Registered50.0000per bond
Bond Coupon Collection8.2500per envelope
Bond Coupon Returns32.0000per coupon
Deposit Transfer Vouchers5.7500per item

Electronic Funds Transfers

Incoming Wire Transfers$6.2500per transfer
Outgoing Wire Transfers (LINK)7.0000per transfer
Outgoing Wire Transfers (Manual)10.7500per transfer
Fax of Wire Transfer Advice3.7500per transfer
Internal Book Transfers (LINK)No Charge
Internal Book Transfers (Manual)1.1500per transfer
Foreign Wire Surcharge33.0000′ *
Foreign Wire Tracerspass-through
Mortgage Participation Service Fee3.2000per transfer
Expected Wires Not Receivedpenalty assessed **
* This surcharge will be added to the amount of the outgoing funds transfer to produce a single total debit to be charged to the customer's account on the date of transfer.
** Standard penalty is equivalent to the amount of the wire(s) times the daily IOD rate, divided by 360. If the wire not received causes the Bank to suffer any penalty, deficiency, or monetary loss, any and all related costs will also be assessed.

Automated Clearing House

ACH Transaction Settlement (CR/DR)$0.3000per transaction
ACH Cleared Through FHLB (CR/DR)0.4000per transaction
ACH Origination Items (CR/DR)0.2200per item
ACH Origination Record Set-Up1.7500per record
ACH Origination Items Returned6.0000per returned item
ACH Returns/NOCs—Facsimile2.5000per transaction
ACH Returns/NOCs—Telephone4.0000per transaction
ACH/FRB Priced Service Charges0.3000per transaction

Federal Reserve Settlement

FRB Statement Transaction (CR/DR)$0.6000per transaction
Reserve Requirement Pass-Thru32.5000per month (active)
Correspondent Transaction (DR)0.6000per transaction
Direct Send Settlement152.5000per month
FRB Inclearing Settlement152.5000per month
FRB Coin & Currency Settlement50.0000per month

Demand Deposit Services

Clearing Items Processed$0.1600per item
Clearing Items Fine Sorted (for return with Bank statements)0.0800per item
Reconcilement Copies—Manual0.1100per copy
Reconcilement Copies—MagTape0.0540per copy Start Printed Page 11781
Reconcilement MagTape ProcessingPass-through
Reconcilement Copies—Voided0.0450per copy
Check Photocopies—Mail4.0000per photocopy
Check Photocopies—Telephone/Fax4.8500per photocopy
Check Photocopies—Subpoena0.7200per photocopy
Stop Payment Orders18.0000per item
Stop Payment Cancellations9.0000per cancelled item
FRB Return Items Processed0.4500per item
FRB Return Items Qualified0.2700per item
FRB Return Items Over $2,5006.0000per item
Collections & Forgeries18.0000per item
Check ImprintingPass-through
Request for Fax / Photocopy5.0000per document/page

Check Processing (Inclearing)

Checks Processed

[Pricing varies—tiered by monthly volume]

For volumes ofPer item
1-25,000$0.0469
25,001-58,5000.0444
58,501-91,5000.0417
91,501-125,0000.0391
125,001-158,5000.0362
158,501-191,5000.0336
191,501-350,0000.0298
350,001-500,0000.0272
500,001 and over0.0247

Full Backroom Service

(Item Processing Charges)

Non-Truncated Checks

[Pricing varies—tiered by monthly volume]

For volumes ofPer item
1-25,000$0.0610
25,001-58,5000.0600
58,501-91,5000.0580
91,501-125,0000.0565
125,001-158,5000.0550
158,501-191,5000.0535
191,501-350,0000.0515
350,001-500,0000.0475
500,001 and over0.0445

Truncated Checks

[Pricing varies—tiered by monthly volume]

For volumes ofPer item
1-25,000$0.0510
25,001-58,5000.0500
58,501-91,5000.0480
91,501-125,0000.0465
125,001-158,5000.0450
158,501-191,5000.0435
191,501-350,0000.0415
350,001-500,0000.0375
500,001 and over0.0345

Modified Backroom Service

(Item Processing Charges)

Non-Truncated Checks

[Pricing varies—tiered by monthly volume]

For volumes of:Per item
1-25,000$0.0510
25,001-58,5000.0500
58,501-91,5000.0480
91,501-125,0000.0465
125,001-158,5000.0450
158,501-191,5000.0435
191,501-350,0000.0415
350,001-500,0000.0375
500,001 and over0.0345

Truncated Checks

[Pricing varies—tiered by monthly volume]

For volumes ofPer item
1-25,000$0.0410
25,001-58,5000.0400
58,501-91,5000.0380
91,501-125,0000.0365
125,001-158,5000.0350
158,501-191,5000.0335
191,501-350,0000.0315
350,001-500,0000.0275
500,001 and over0.0245

Image Services

Proof of Deposit (POD) Service

Pricing for each of these premium services is customer-specific, based upon individual service requirements; please call your Relationship Officer at (800) 288 3400 for further information.

Check Processing (Associated Services)

Unidentified Items Processed$2.0000per item.
Over-The-Counter Items0.1950per item.
OTC Item Transportation10.2500per month.
Special Cycle Sorting0.0240per item.
Mid-Cycle Statement (Purged)0.5700per item (Min $2.85).
Mid-Cycle Stmt. (Non-Purged)2.8500per statement.
Statement Printing0.0300per page.
Statement Processing:
Statements using Generic Envelopes0.0650per envelope.
Statements using Custom Envelopes0.1100per envelope.
Statements using Large Envelopes0.6650per envelope.
Envelope Destruction Fee0.0300per envelope.
Additional Stuffer Processing0.0285per stuffer (one stuffer per statement free—applicable to all additional stuffers).
Selective Stuffer Processing0.1100per statement.
Daily Report PostagePass-through.
Statement PostagePass-through.
Standard Return Calls1.5000per item.
Automated Return Calls0.2950per item.
Return Calls via Link0.7900per item.
Late Return Calls5.2500per item.
FRB Return Items Processed0.4500per item.
FRB Return Items Qualified0.2700per item. Start Printed Page 11782
FRB Return Items Over $2,5006.0000per item.
Suspect Item Processing5.2500per suspect item.
Check Photocopies—Mail4.0000per photocopy.
Check Photocopies—Telephone/Fax4.8500per photocopy.
Check Photocopies—Subpoena0.7200per photocopy.
Signature Verification Copies0.8500per copy.
Check Retrieval1.8000per item.
MICRSort Option (Fixed Fee)28.2500per month.
MICRSort Option (per item)0.0330per item.
Collections & Forgeries18.0000per item.
MCPJ Microfiche Service0.00225per item.
(Min. $20.00, Max. $125.00)Pass-through
Transportation

Coin and Currency Service

Western Service Area

Cash Orders$2.5000per order, plus:
Currency Orders0.3450per $1,000 *.
Coin Orders2.8000per box.
Currency Deposits1.4000per $1,000 *.
Coin Deposits2.0000per standard bag.
Coin Deposits (Non-Standard)3.0000per non-standard bag.
Coin Deposits (Unsorted)9.0000per mixed bag.
Food Stamp Deposits2.0000per $1,000 *.
Late Order Surcharge10.0000per order.
Coin Shipment Surcharge0.2800per excess bag **.
C&C Transportation (Zone W1)18.5000per stop.
C&C Transportation (Zone W2)30.5000per stop.
C&C Transportation (Zone W3)42.5000per stop.
C&C Transportation (Zone W4)Negotiable***.
* Charges will be applied to each $1,000 ordered or deposited, and to any portion of a shipment not divisible by that standard unit.
** A surcharge will apply to each container (box/bag) of coin in an order/delivery after the first 20 containers.
*** Reserved for remote locations: delivery charges will be negotiated with the courier service on an individual basis.

Coin and Currency Service

Eastern Service Area

Cash Orders$2.5000per order, plus.
Currency Orders0.3450per $1,000 *.
Coin Orders3.0500per box.
Currency Deposits1.4000per $1,000 *.
Coin Deposits2.0000per standard bag.
Coin Deposits (Non-Standard)3.0000per non-standard bag.
Coin Deposits (Unsorted)9.0000per mixed bag.
Food Stamp Deposits2.0000per $1,000 *.
Late Order Surcharge10.0000per order.
Coin Shipment Surcharge0.2800per excess bag **.
C&C Transportation (Zone E1)27.4000per stop.
C&C Transportation (Zone E2)38.2000per stop.
C&C Transportation (Zone E3)55.0000per stop.
C&C Transportation (Zone E4)Negotiable***.

Account Maintenance

Demand Deposit Accounts$22.5000per month, per account.
Cut-off Statements12.5000per statement.
Telephone Inquiry2.3000per telephone call.
Paper Advice of Transactions (DTS)32.5000per account, per month.
Daily Transaction Data via LINKNo Charge.

Monthly Minimum Charges

The Bank reserves the right to impose a monthly minimum charge for its services. The standard minimum will be $2,000 per month, applied against Check Processing, Deposit Processing, and/or Proof of Deposit Services. Pass-through items, such as postage and transportation, do not apply.

Account Overdraft Penalty

Greater of $75.00 per day and the daily interest on the amount of the overdraft.

(Rate used for calculation equal to the highest posted advance rate plus 3.0%.)

Requests for Programming Changes

Programming support for new services, enhancements to existing service levels, or servicer conversions Start Printed Page 11783requiring at least one hour of programmer time and/or equivalent FHLB expenses will be charged at a rate of $100.00 per hour, plus expenses.

Attention: Customers Receiving Transportation Charges Under Any Service

Rates and charges relative to transportation vary depending on the location of the office(s) serviced. Details regarding the pricing for the transportation to/from specific institutions or individual locations will be provided upon their subscription to that service.

Surcharges may be applicable and will be applied to the customer as effective and without prior notice.

District 4.—Federal Home Loan Bank of Atlanta (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

District 5.—Federal Home Loan Bank of Cincinnati (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

District 6.—Federal Home Loan Bank of Indianapolis (2000 NOW/DDA Services)

Fee Schedules

Checking Account Processing

I. Checking Account Service Transaction Charges

[Effective February 1, 2000]

Monthly volumeSafekeeping (per item)Turnaround (daily or cycled) (per item)Complete (per item)Full service image\*\Limited service image\*\
per itemper statementper itemper statement
0-5,000$.054$.0675$.0875$.06$.40$.02$.40
5-10,000.046.0625.0855.06.40.02.40
10-15,000.045.0585.0835.06.40.02.40
15-25,000.040.0515.0825.06.40.02.40
25-50,000.039.0475.0805.06.40.02.40
50-75,000.035.0445.0765.06.40.02.40
75-100,000.032.0415.0755.06.40.02.40
100 and up.030.0385.0745.06.40.02.40
Minimum processing fee of $40.00 per month will apply for total NOW services. Also included in the above fees—at no additional cost are Federal Reserve fees, incoming courier fees, software changes, disaster recovery, envelope discount and inventory.
* Image Monthly Maintenance Fee of $4500.00 for 0-32% of accounts; $300.00 for 33-49% of accounts; and $200.00 for 50%+ will be assessed for Image Statements.

II. Ancillary Service Fees

Large Dollar Signature Verification$0.75
Over-the-counters and Microfilm0.045
Return Items2.40
Photocopies * and Facsimiles2.50
Certified Checks1.00
Invalid Accounts0.65
Late Returns0.50
Invalid Returns0.50
No MICR/OTC0.50
Settlement Only (per month)100.00
+Journal Entries (each)3.00
Encoding Errors2.75
Fine Sort Numeric Sequence0.02
Access to Infoline (per month)50.00
High Dollar Return NotificationN/C
Debit EntriesN/C
Credit EntriesN/C
Standard Stmt. Stuffers (up to 2)**N/C
Statement Stuffing Savings (Non DDA Accounts)0.20
Minimum processing fee of $40.00 per month will apply for total NOW services. Also included in the above fees—at no additional cost are Federal Reserve fees, incoming courier fees, software changes, disaster recovery, envelope discount and inventory.
* Photocopy request of 50 or more are charged at an hourly rate of $15.00.
** Each additional (over 2) will be charged at $.02 per statement.

b. Demand Deposits Accounts/ACH

ITEM PROCESSING SERVICE FEES

Demand deposit clearings will have the following service charges:

Cash Management Service

Stop payments6.00per stop.
Photocopies2.50per copy.
Collection/Return/Exception5.00
Daily Statement2.00
Maintenance30.00per month.
Debit EntriesN/C
Credit EntriesN/C
ACH Fees:
Tape transmission or originations$8.50per tape.
NACHA, MPXActual Federal Reserve charges.
ACH entries clearing through our R&T number.25per item.
Settlement only65.00per month.
ACH returns/NOC2.50per item.
Collected balances will earn interest at CMS daily-posted rate.
Prices effective April 1, 1993.
Start Printed Page 11784

c. Deposit Services

Federal Home Loan Bank of Indianapolis

Pre-encoded Items:
City$0.045per item.
RCPC.055per item.
Other Districts.09per item.
Unencoded.15per item.
Food Stamp.14per item.
Photocopies2.50per copy.
Adjustments on pre-encoded work2.75per error.
E Z Clear.14per item.
Coupons8.25per envelope.
Collections6.00per item.
Cash Letter2.00per cash letter.
Deposit Adjustments2.00per adjustment.
Debit EntriesN/C.
Credit EntriesN/C.
MicrofilmingN/C.
Mortgage Remittance (Basic Service).35
Settlement only100.00per month.
+ Journal Entries3.00each.
Courier:
Indianapolis (city)8.25per location, per day, per pickup.
Outside Indianapolisprices vary per location
N/C No Charge.

District 7.—Federal Home Loan Bank of Chicago (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

District 8.—Federal Home Loan Bank of Des Moines (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

District 9.—Federal Home Loan Bank of Dallas (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

District 10.—Federal Home Loan Bank of Topeka (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

District 11.—Federal Home Loan Bank of San Francisco (2000 NOW/DDA services)

 (Does not provide item processing services for third party accounts)

District 12.—Federal Home Loan Bank of Seattle (2000 NOW/DDA Services)

 (Does not provide item processing services for third party accounts)

Start Signature

By the Federal Housing Finance Board.

William W. Ginsberg,

Managing Director.

End Signature End Supplemental Information

[FR Doc. 00-5274 Filed 3-3-00; 8:45 am]

BILLING CODE 6725-01-P