Fed 2024 Priced Service Fee Schedule
On Nov. 17, Fed issued 2024 pricing for payment services it provides.
- Fed announced its pricing schedule, effective Jan. 2, 2024, for payment services.
- Services include clearing checks, ACH transactions, wholesale payment settlement.
- Pricing Provisions
- By law, Fed must establish fees to recover costs of providing payment services.
- The expectation for 2024 is to recover 103% of actual and imputed expenses.
- Overall, Fed estimates price changes will result in a 1.8% average price increase.
- Also announced 2024 pricing for FedNow Service, real-time payment platform.
- FedNow pricing will maintain the previous year's fee schedule for FedNow Service.
- The new fee schedules for Fed payment services become effective on Jan. 2, 2024.
- Nov. 2023 Fed Final Fees Schedule
- On Nov. 24, 2023, Fed published final private-sector adjustment factor (PSAF), pricing.
- PSAF for 2024 set at $29.2mn; also, Fed approved fees schedule for priced services.
- For 2022 actual, 2023 forecasted, and 2024 budgeted, Fed provided revenue, total expense, net income (ROE), targeted ROE, and recovery rate after targeted ROE (%).
- Notification of 2024 PSAF and approved fee schedules made in the federal register.
||Bank; Depo; Thrift
||88 FR 82356, 11/24/2023; PR, 11/17/2023; Docket No. OP-1822;
||Financial; Operations; Reporting; Settlement; Technology; Treasury
||United States of America
||Central Bank; Clearing/Depository
||Banking; Clearing; Deposits; Payments
|Reg. Last Update
Last substantive update on 11/25/2023