[Federal Register Volume 65, Number 44 (Monday, March 6, 2000)]
[Notices]
[Pages 11779-11784]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-5274]


=======================================================================
-----------------------------------------------------------------------

FEDERAL HOUSING FINANCE BOARD

[No. 2000-N-2]


Prices for Federal Home Loan Bank Services

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.

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.

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]
------------------------------------------------------------------------
                                                               Per item
                       For volumes of                          (transit)
------------------------------------------------------------------------
1-25,000....................................................     $0.0407
25,001-58,500...............................................      0.0402
58,501-91,500...............................................      0.0397
91,501-125,000..............................................      0.0392
125,001-158,500.............................................      0.0377
158,501-191,500.............................................      0.0357
191,501 and over............................................      0.0327
------------------------------------------------------------------------


                      Deposit Items Encoded (West)
               [Pricing varies--tiered by monthly volume]
------------------------------------------------------------------------
                       For volumes of                          Per item
------------------------------------------------------------------------
1-25,000....................................................     $0.0398
25,001-58,500...............................................      0.0394
58,501-91,500...............................................      0.0390
91,501-125,000..............................................      0.0386
125,001-158,500.............................................      0.0373
158,501-191,500.............................................      0.0368
191,501 and over............................................      0.0363
------------------------------------------------------------------------


                      Deposit Items Encoded (East)
               [Pricing varies--tiered by monthly volume]
------------------------------------------------------------------------
                       For volumes of                          Per item
------------------------------------------------------------------------
1-25,000....................................................     $0.0352
25,001-58,500...............................................      0.0347
58,501-91,500...............................................      0.0342
91,501-125,000..............................................      0.0337
125,001-158,500.............................................      0.0322
158,501-191,500.............................................      0.0312
191,501 and over............................................      0.0306
------------------------------------------------------------------------


Deposit Items Returned...........     $18.0000  per item
Deposit Items Photocopied........       3.9500  per photocopy
DPS Photocopies--Subpoena........      21.0000  per hour of processing
                                                 time,

[[Page 11780]]

 
    plus.........................       0.3000  per photocopy
Deposit Items Rejected                  0.2300  per rejected item
 (applicable to pre-encoded
 deposits only).
Canadian Item Processing.........       5.2500  per item
All Foreign Collection Charges                  pass-through
 (Includes Foreign Collection
 Fees, Bought Foreign Collection
 Fees, Foreign Bank Processing
 Charges, and Foreign Check
 Courier Charges).
Adjustments on DPS Deposits               3.00  per adjustment
 (applicable to pre-encoded
 deposits only).
Foreign Return Check Fee.........      35.0000  per item
DPS Transportation (West)........       9.9500  per pickup
DPS Transportation (East)........       9.9500  per pickup
Return Check Courier Service.....     145.0000  per month
 

Depository Account Services

On--US Returns Deposited:
    Qualified Returns............      $1.2000  per item
    Raw Returns..................       4.5000  per item
Mail Deposits....................       5.7500  per deposit
Bond Collection:
    Bearer.......................      40.0000  per bond
    Registered...................      50.0000  per bond
Bond Coupon Collection...........       8.2500  per envelope
Bond Coupon Returns..............      32.0000  per coupon
Deposit Transfer Vouchers........       5.7500  per item
 

Electronic Funds Transfers

Incoming Wire Transfers..........      $6.2500  per transfer
Outgoing Wire Transfers (LINK)...       7.0000  per transfer
Outgoing Wire Transfers (Manual).      10.7500  per transfer
Fax of Wire Transfer Advice......       3.7500  per transfer
Internal Book Transfers (LINK)...  ...........  No Charge
Internal Book Transfers (Manual).       1.1500  per transfer
Foreign Wire Surcharge...........      33.0000  ' *
Foreign Wire Tracers.............  ...........  pass-through
Mortgage Participation Service          3.2000  per transfer
 Fee.
Expected Wires Not Received......  ...........  penalty 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/        $0.3000  per transaction
 DR).
ACH Cleared Through FHLB (CR/DR).       0.4000  per transaction
ACH Origination Items (CR/DR)....       0.2200  per item
ACH Origination Record Set-Up....       1.7500  per record
ACH Origination Items Returned...       6.0000  per returned item
ACH Returns/NOCs--Facsimile......       2.5000  per transaction
ACH Returns/NOCs--Telephone......       4.0000  per transaction
ACH/FRB Priced Service Charges...       0.3000  per transaction
 

Federal Reserve Settlement

FRB Statement Transaction (CR/DR)      $0.6000  per transaction
Reserve Requirement Pass-Thru....      32.5000  per month (active)
Correspondent Transaction (DR)...       0.6000  per transaction
Direct Send Settlement...........     152.5000  per month
FRB Inclearing Settlement........     152.5000  per month
FRB Coin & Currency Settlement...      50.0000  per month
 

Demand Deposit Services

Clearing Items Processed.........      $0.1600  per item
Clearing Items Fine Sorted (for         0.0800  per item
 return with Bank statements).
Reconcilement Copies--Manual.....       0.1100  per copy
Reconcilement Copies--MagTape....       0.0540  per copy

[[Page 11781]]

 
Reconcilement MagTape Processing.  ...........  Pass-through
Reconcilement Copies--Voided.....       0.0450  per copy
Check Photocopies--Mail..........       4.0000  per photocopy
Check Photocopies--Telephone/Fax.       4.8500  per photocopy
Check Photocopies--Subpoena......       0.7200  per photocopy
Stop Payment Orders..............      18.0000  per item
Stop Payment Cancellations.......       9.0000  per cancelled item
FRB Return Items Processed.......       0.4500  per item
FRB Return Items Qualified.......       0.2700  per item
FRB Return Items Over $2,500.....       6.0000  per item
Collections & Forgeries..........      18.0000  per item
Check Imprinting.................  ...........  Pass-through
Request for Fax / Photocopy......       5.0000  per document/page
 

Check Processing (Inclearing)

                            Checks Processed
               [Pricing varies--tiered by monthly volume]
------------------------------------------------------------------------
                       For volumes of                          Per item
------------------------------------------------------------------------
1-25,000....................................................     $0.0469
25,001-58,500...............................................      0.0444
58,501-91,500...............................................      0.0417
91,501-125,000..............................................      0.0391
125,001-158,500.............................................      0.0362
158,501-191,500.............................................      0.0336
191,501-350,000.............................................      0.0298
350,001-500,000.............................................      0.0272
500,001 and over............................................      0.0247
------------------------------------------------------------------------

Full Backroom Service

(Item Processing Charges)

                          Non-Truncated Checks
               [Pricing varies--tiered by monthly volume]
------------------------------------------------------------------------
                       For volumes of                          Per item
------------------------------------------------------------------------
1-25,000....................................................     $0.0610
25,001-58,500...............................................      0.0600
58,501-91,500...............................................      0.0580
91,501-125,000..............................................      0.0565
125,001-158,500.............................................      0.0550
158,501-191,500.............................................      0.0535
191,501-350,000.............................................      0.0515
350,001-500,000.............................................      0.0475
500,001 and over............................................      0.0445
------------------------------------------------------------------------


                            Truncated Checks
               [Pricing varies--tiered by monthly volume]
------------------------------------------------------------------------
                       For volumes of                          Per item
------------------------------------------------------------------------
1-25,000....................................................     $0.0510
25,001-58,500...............................................      0.0500
58,501-91,500...............................................      0.0480
91,501-125,000..............................................      0.0465
125,001-158,500.............................................      0.0450
158,501-191,500.............................................      0.0435
191,501-350,000.............................................      0.0415
350,001-500,000.............................................      0.0375
500,001 and over............................................      0.0345
------------------------------------------------------------------------

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
25,001-58,500...............................................      0.0500
58,501-91,500...............................................      0.0480
91,501-125,000..............................................      0.0465
125,001-158,500.............................................      0.0450
158,501-191,500.............................................      0.0435
191,501-350,000.............................................      0.0415
350,001-500,000.............................................      0.0375
500,001 and over............................................      0.0345
------------------------------------------------------------------------


                            Truncated Checks
               [Pricing varies--tiered by monthly volume]
------------------------------------------------------------------------
                       For volumes of                          Per item
------------------------------------------------------------------------
1-25,000....................................................     $0.0410
25,001-58,500...............................................      0.0400
58,501-91,500...............................................      0.0380
91,501-125,000..............................................      0.0365
125,001-158,500.............................................      0.0350
158,501-191,500.............................................      0.0335
191,501-350,000.............................................      0.0315
350,001-500,000.............................................      0.0275
500,001 and over............................................      0.0245
------------------------------------------------------------------------

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.....      $2.0000  per item.
Over-The-Counter Items...........       0.1950  per item.
OTC Item Transportation..........      10.2500  per month.
Special Cycle Sorting............       0.0240  per item.
Mid-Cycle Statement (Purged).....       0.5700  per item (Min $2.85).
Mid-Cycle Stmt. (Non-Purged).....       2.8500  per statement.
Statement Printing...............       0.0300  per page.
Statement Processing:
    Statements using Generic            0.0650  per envelope.
     Envelopes.
    Statements using Custom             0.1100  per envelope.
     Envelopes.
    Statements using Large              0.6650  per envelope.
     Envelopes.
Envelope Destruction Fee.........       0.0300  per envelope.
Additional Stuffer Processing....       0.0285  per stuffer (one stuffer
                                                 per statement free--
                                                 applicable to all
                                                 additional stuffers).
Selective Stuffer Processing.....       0.1100  per statement.
Daily Report Postage.............               Pass-through.
Statement Postage................               Pass-through.
Standard Return Calls............       1.5000  per item.
Automated Return Calls...........       0.2950  per item.
Return Calls via Link............       0.7900  per item.
Late Return Calls................       5.2500  per item.
FRB Return Items Processed.......       0.4500  per item.
FRB Return Items Qualified.......       0.2700  per item.

[[Page 11782]]

 
FRB Return Items Over $2,500.....       6.0000  per item.
Suspect Item Processing..........       5.2500  per suspect item.
Check Photocopies--Mail..........       4.0000  per photocopy.
Check Photocopies--Telephone/Fax.       4.8500  per photocopy.
Check Photocopies--Subpoena......       0.7200  per photocopy.
Signature Verification Copies....       0.8500  per copy.
Check Retrieval..................       1.8000  per item.
MICRSort Option (Fixed Fee)......      28.2500  per month.
MICRSort Option (per item).......       0.0330  per item.
Collections & Forgeries..........      18.0000  per item.
MCPJ Microfiche Service..........      0.00225  per item.
(Min. $20.00, Max. $125.00)......               Pass-through
Transportation...................
 

Coin and Currency Service

Western Service Area

Cash Orders......................      $2.5000  per order, plus:
    Currency Orders..............       0.3450  per $1,000 *.
    Coin Orders..................       2.8000  per box.
Currency Deposits................       1.4000  per $1,000 *.
Coin Deposits....................       2.0000  per standard bag.
Coin Deposits (Non-Standard).....       3.0000  per non-standard bag.
Coin Deposits (Unsorted).........       9.0000  per mixed bag.
Food Stamp Deposits..............       2.0000  per $1,000 *.
Late Order Surcharge.............      10.0000  per order.
Coin Shipment Surcharge..........       0.2800  per excess bag **.
C&C Transportation (Zone W1).....      18.5000  per stop.
C&C Transportation (Zone W2).....      30.5000  per stop.
C&C Transportation (Zone W3).....      42.5000  per 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......................      $2.5000  per order, plus.
    Currency Orders..............       0.3450  per $1,000 *.
    Coin Orders..................       3.0500  per box.
Currency Deposits................       1.4000  per $1,000 *.
Coin Deposits....................       2.0000  per standard bag.
Coin Deposits (Non-Standard).....       3.0000  per non-standard bag.
Coin Deposits (Unsorted).........       9.0000  per mixed bag.
Food Stamp Deposits..............       2.0000  per $1,000 *.
Late Order Surcharge.............      10.0000  per order.
Coin Shipment Surcharge..........       0.2800  per excess bag **.
C&C Transportation (Zone E1).....      27.4000  per stop.
C&C Transportation (Zone E2).....      38.2000  per stop.
C&C Transportation (Zone E3).....      55.0000  per stop.
C&C Transportation (Zone E4).....  ...........  Negotiable***.
 

Account Maintenance

Demand Deposit Accounts..........     $22.5000  per month, per account.
Cut-off Statements...............      12.5000  per statement.
Telephone Inquiry................       2.3000  per telephone call.
Paper Advice of Transactions           32.5000  per account, per month.
 (DTS).
Daily Transaction Data via LINK..  ...........  No 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

[[Page 11783]]

requiring 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]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                             Turnaround                 Full service image\*\   Limited service image\*\
                                                               Safekeeping   (daily or     Complete  ---------------------------------------------------
                        Monthly volume                          (per item)    cycled)     (per item)                   per                       per
                                                                             (per item)                 per item    statement     per item    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 Microfilm...............................     0.045
Return Items..................................................      2.40
Photocopies * and Facsimiles..................................      2.50
Certified Checks..............................................      1.00
Invalid Accounts..............................................      0.65
Late Returns..................................................      0.50
Invalid Returns...............................................      0.50
No MICR/OTC...................................................      0.50
Settlement Only (per month)...................................    100.00
    +Journal Entries (each)...................................      3.00
Encoding Errors...............................................      2.75
Fine Sort Numeric Sequence....................................      0.02
Access to Infoline (per month)................................     50.00
High Dollar Return Notification...............................       N/C
Debit Entries.................................................       N/C
Credit Entries................................................       N/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 payments....................         6.00  per stop.
Photocopies......................         2.50  per copy.
Collection/Return/Exception......         5.00  ........................
Daily Statement..................         2.00  ........................
Maintenance......................        30.00  per month.
Debit Entries....................          N/C  ........................
Credit Entries...................          N/C  ........................
ACH Fees:
    Tape transmission or                 $8.50  per tape.
     originations.
    NACHA, MPX...................  ...........  Actual Federal Reserve
                                                 charges.
    ACH entries clearing through           .25  per item.
     our R&T number.
    Settlement only..............        65.00  per month.
    ACH returns/NOC..............         2.50  per item.
 
Collected balances will earn interest at CMS daily-posted rate.
Prices effective April 1, 1993.


[[Page 11784]]

c. Deposit Services

                 Federal Home Loan Bank of Indianapolis
Pre-encoded Items:
    City.........................       $0.045  per item.
    RCPC.........................         .055  per item.
    Other Districts..............          .09  per item.
Unencoded........................          .15  per item.
Food Stamp.......................          .14  per item.
Photocopies......................         2.50  per copy.
Adjustments on pre-encoded work..         2.75  per error.
E Z Clear........................          .14  per item.
Coupons..........................         8.25  per envelope.
Collections......................         6.00  per item.
Cash Letter......................         2.00  per cash letter.
Deposit Adjustments..............         2.00  per adjustment.
Debit Entries....................  ...........  N/C.
Credit Entries...................  ...........  N/C.
Microfilming.....................  ...........  N/C.
Mortgage Remittance (Basic                 .35  ........................
 Service).
Settlement only..................       100.00  per month.
    + Journal Entries............         3.00  each.
Courier:
    Indianapolis (city)..........         8.25  per location, per day,
                                                 per pickup.
    Outside Indianapolis.........               prices 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)

    By the Federal Housing Finance Board.
William W. Ginsberg,
Managing Director.
[FR Doc. 00-5274 Filed 3-3-00; 8:45 am]
BILLING CODE 6725-01-P