Modified Appendix I in anticipation of release of a new feature available to customers.
Amendments made to reference FedDetect Duplicate Notification Service Guide where operational requirements, procedures, including enrollment instructions, are located.
Described permissible uses for reports received via FedDetect Duplicate Notification.
Removing reference to fees for Duplicate Notification, which no longer will be applied.
Amendments related to customer consents for data sharing, changes to waivers re accuracy of reports and potential for false positive and false negative reports.
Technical changes to address the addition of the new Commercial Checks Report.
Additionally, reported Appendix H will be amended in anticipation of potential delivery of the FedPayments Reporter Service via an application program interface (API).
Incorporated changes to acknowledge potential distribution of FedPayments Service.
Circular 4 ACH Items
Amendments removed ERS appendix from Operating Circular 4, updated the terms to reflect the provision of ERS as an ancillary service for any Fed and add to Circular 5.
Circular 5 Electronic Access
Adopted revisions are intended to update and modernize various provisions.
Amendments added a new Appendix C entitled API Service which sets forth the terms applicable to access and use APIs that are made available by the Reserve Banks.
Added new Appendix D entitled Exception Resolution Service which sets forth the terms under which the Reserve Banks provide the Exception Resolution Service.
Provision added to address further circumstances associated with cyber events and security incidents occurring at Institutions, and Fed's right to notify authorities.
As needed to manage any crises or otherwise protect the industry against contagion.
Reserve Bank may share data and information between and among an Institution and a Service Provider designated by the Institution to act on the Institution’s behalf.
Allowed a network communication device to be located off-premises if conditions met.
Additionally, Section 7.1 was updated for clarity, and to add an express provision addressing dormancy and extended inactivity of an Access Control Feature.
Effectiveness
Circulars 3, 4, 5 become effective as of Oct. 28, 2024.
