[Federal Register Volume 66, Number 58 (Monday, March 26, 2001)]
[Notices]
[Pages 16469-16474]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-7336]


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FEDERAL HOUSING FINANCE BOARD

[No. 2001-N-5]


Prices for Federal Home Loan Bank Services

AGENCY: Federal Housing Finance Board.

ACTION: Notice of prices for Federal Home Loan Bank Services.

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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 26, 2001.

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, 
NW., 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. Sec. 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 CFR Sec. 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 (2001 NOW/DDA Services) 
(Services not provided)
District 2.--Federal Home Loan Bank of New York (2001 NOW/DDA Services) 
(Does not provide item processing services for third party accounts)
District 3.--Federal Home Loan Bank of Pittsburgh (2001 NOW/DDA 
Services)

----------------------------------------------------------------------------------------------------------------
 
----------------------------------------------------------------------------------------------------------------
 
                              DEPOSIT PROCESSING SERVICE  (DPS) EFFECTIVE 1/1/2001
 
DPS Deposit Tickets..........................  $0.6750 per deposit
Printing of Deposit Tickets..................  Pass-through
           Deposit Items Processed                          Pricing varies--tiered by monthly volume
    For volumes of:
        1-25,000.............................  $0.0422 per item (transit)
        25,001-58,500........................  0.0417 per item (transit)
        58,501-91,500........................  0.0412 per item (transit)
        91,501-125,000.......................  0.0407 per item (transit)
        125,001-158,500......................  0.0392 per item (transit)
        158,501-191,500......................  0.0372 per item (transit)
        191,501-over.........................  0.0342 per item (transit)
 
         Deposit Items Encoded (West)                       Pricing varies--tiered by monthly volume
    For volumes of:
        1-25,000.............................  0.0413 per item
        25,001-58,500........................  0.0409 per item
        58,501-91,500........................  0.0405 per item
        91,501-125,000.......................  0.0401 per item
        125,001-158,500......................  0.0388 per item
        158,501-191,500......................  0.0383 per item
        191,501-over.........................  0.0378 per item
 
         Deposit Items Encoded (East)          Pricing varies--tiered by monthly volume
    For volumes of:
        1-25,000.............................  0.0367 per item
        25,001-58,500........................  0.0362 per item
        58,501-91,500........................  0.0357 per item
        91,501-125,000.......................  0.0352 per item
        125,001-158,500......................  0.0337 per item
        158,501-191,500......................  0.0327 per item
        191,501-over.........................  0.0321 per item
Deposit Items Returned.......................  18.5000 per item
Deposit Items Photocopied....................  5.0000 per photocopy
DPS Photocopies--Subpoena....................  21.0000 per hour of processing time
      plus...................................  0.3000 per photocopy
Deposit Items Rejected (applicable to pre-     0.2500 per rejected item
 encoded deposits only).
Canadian Item Processing.....................  5.5000 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 (applicable to     3.00 per adjustment
 pre-encoded deposits only).
Foreign Return Check Fee.....................  35.0000 per item

[[Page 16470]]

 
DPS Transportation (West)....................  10.5000 per pickup
DPS Transportation (East)....................  10.5000 per pickup
Return Check Courier Service.................  150.0000 per month
 
                                           DEPOSITORY ACCOUNT SERVICES
 
On--Us Returns Deposited:
    Qualified Returns........................  $1.2500 per item
    Raw Returns..............................  4.7500 per item
Mail Deposits................................  6.0000 per deposit
Bond Collection:
    Bearer...................................  42.0000 per bond
    Registered...............................  52.0000 per bond
Bond Coupon Collection.......................  8.5000 per envelope
Bond Coupon Returns..........................  33.0000 per coupon
Deposit Transfer Vouchers....................  6.0000 per item
 
                                           ELECTRONIC FUNDS TRANSFERS
 
Incoming Wire Transfers......................  $6.3000 per transfer
Outgoing Wire Transfers (LINK)...............  7.0000 per transfer
Outgoing Wire Transfers (Manual).............  11.0000 per transfer
Late Outgoing Wire Surcharge.................  10.0000 per transfer
Fax of Wire Transfer Advice..................  3.9500 per transfer
Internal Book Transfers (LINK)...............  No Charge
Internal Book Transfers (Manual).............  1.2500 per transfer
Foreign Wire Surcharge.......................  35.0000 per transfer
Foreign Wire Tracers.........................  5.000 per transfer
Service Message Requests.....................  2.000 per transfer
Mortgage Participation Service Fee...........  3.2000 per transfer
Expected Wires Not Received..................  Penalty Assessed \1\*
 
                                            AUTOMATED CLEARING HOUSE
 
ACH Transaction Settlement (CR/DR)...........  $0.3100 per transaction
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..................  2.7500 per transaction
ACH Returns/NOCs--Telephone..................  4.5000 per transaction
ACH/FRB Priced Service Charges...............  0.3100 per transaction
 
                                           FEDERAL RESERVE SETTLEMENT
FRB Statement Transaction (CR/DR)............  $0.6200 per transaction
Reserve Requirement Pass-Thru................  33.0000 per month (active)
Correspondent Transaction (DR)...............  0.6200 per transaction
Direct Send Settlement.......................  155.0000 per month
FRB Inclearing Settlement....................  155.0000 per month
FRB Coin & Currency Settlement...............  60.0000 per month
 
                                             DEMAND DEPOSIT SERVICES
Clearing Items Processed.....................  $0.1650 per item
Clearing Items Fine Sorted (for return with    0.0900 per item
 Bank statements).
Reconcilement Copies--Manual.................  0.3500 per copy
Reconcilement Copies--MagTape................  0.0600 per copy
Reconcilement MagTape Processing.............  Pass-through
Reconcilement Copies--Voided.................  0.1000 per copy
Check Photocopies--Mail......................  4.2500 per photocopy
Check Photocopies--Telephone/Fax.............  5.0000 per photocopy
Check Photocopies--Subpoena..................  1.0000 per photocopy
Stop Payment Orders..........................  19.0000 per item
Stop Payment Cancellations...................  9.5000 per cancelled item
FRB Return Items Processed...................  0.6000 per item
FRB Return Items Qualified...................  0.4000 per item
FRB Return Items Over $2,500.................  6.2500 per item
Collections & Forgeries......................  19.0000 per item
Check Imprinting.............................  Pass-through
Request for Fax/Photocopy....................  5.2500 per document/page
 
                                          CHECK PROCESSING (INCLEARING)
 
               Checks Processed                             Pricing varies--tiered by monthly volume
    for volumes of:
        1--25,000............................  0.0479 per item
        25,001--58,500.......................  0.0454 per item
        58,501--91,500.......................  0.0427 per item
        91,501--125,000......................  0.0401 per item
        125,001--158,500.....................  0.0372 per item
        158,501--191,500.....................  0.0346 per item
        191,501--350,000.....................  0.0308 per item
        350,001--500,000.....................  0.0282 per item

[[Page 16471]]

 
        500,001--over........................  0.0257 per item
 
                                 FULL BACKROOM SERVICE (ITEM PROCESSING CHARGES)
 
             Non-Truncated Checks                           Pricing varies--tiered by monthly volume
    for volumes of:
        1--25,000............................  0.0630 per item
        25,001--58,500.......................  0.0620 per item
        58,501--91,500.......................  0.0600 per item
        91,501--125,000......................  0.0585 per item
        125,001--158,500.....................  0.0570 per item
        158,501--191,500.....................  0.0555 per item
        191,501--350,000.....................  0.0535 per item
        350,001--500,000.....................  0.0495 per item
        500,001--over........................  0.0465 per item
 
               Truncated Checks                             Pricing varies--tiered by monthly volume
    for volumes of:
        1--25,000............................  0.0530 per item
        25,001--58,500.......................  0.0520 per item
        58,501--91,500.......................  0.0500 per item
        91,501--125,000......................  0.0485 per item
        125,001--158,500.....................  0.0470 per item
        158,501--191,500.....................  0.0455 per item
        191,501--350,000.....................  0.0435 per item
        350,001--500,000.....................  0.0395 per item
        500,001--over........................  0.0365 per item
 
                               MODIFIED BACKROOM SERVICE (ITEM PROCESSING CHARGES)
 
             Non-Truncated Checks                           Pricing varies--tiered by monthly volume
    for volumes of:
        1--25,000............................  0.0530 per item
        25,001--58,500.......................  0.0520 per item
        58,501--91,500.......................  0.0500 per item
        91,501--125,000......................  0.0485 per item
        125,001--158,500.....................  0.0470 per item
 
        158,501-191,500......................  0.0455 per item
        191,501-350,000......................  0.0435 per item
        350,001-500,000......................  0.0395 per item
        500,001-over.........................  0.0365 per item
 
               Truncated Checks                             Pricing varies--tiered by monthly volume
    for volumes of:
        1-25,000.............................  0.0430 per item
        25,001-58,500........................  0.0420 per item
        58,501-91,500........................  0.0400 per item
        91,501-125,000.......................  0.0385 per item
        125,001-158,500......................  0.0370 per item
        158,501-191,500......................  0.0355 per item
        191,501-350,000......................  0.0335 per item
        350,001-500,000......................  0.0295 per item
        500,001-over.........................  0.0265 per item
 
                                 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.................  2.0500 per item
Over-The-Counter Items.......................  0.1975 per item
OTC Item Transportation......................  12.5000 per month
Special Cycle Sorting........................  0.0250 per item
Mid-Cycle Statement (Purged).................  0.6000 per item (Min $3.00)
Mid-Cycle Stmt. (Non-Purged).................  3.0000 per statement
Statement Printing...........................  0.0300 per page
Statement Processing:
    Statements using Generic Envelopes.......  0.0700 per envelope
    Statements using Custom Envelopes........  0.1125 per envelope
    Statements using Large Envelopes.........  0.7000 per envelope
Envelope Destruction Fee.....................  0.0300 per envelope
Additional Stuffer Processing (one stuffer     0.0300 per stuffer
 per statement free--applicable to all
 additional stuffers).
Selective Stuffer Processing.................  0.1150 per statement
Daily Report Postage.........................   Pass-through
Statement Postage............................  Pass-through
Standard Return Calls........................  1.5500 per item
Automated Return Calls.......................  0.3000 per item
Return Calls via Link........................  0.8500 per item
Late Return Calls............................  7.0000 per item

[[Page 16472]]

 
Illegible BOFD Surcharge.....................  5.2500 per item
Return Call Cancellations....................  6.0000 per item
FRB Return Items Processed...................  0.6000 per item
FRB Return Items Qualified...................  0.4000 per item
FRB Return Items Over $2,500.................  6.2500 per item
Suspect Item Processing......................  6.0000 per suspect item
Check Photocopies--Mail......................  4.2500 per photocopy
Check Photocopies--Telephone/Fax.............  5.0000 per photocopy
Check Photocopies--Subpoena..................  1.0000 per item
Signature Verification Copies................  0.9500 per copy
Check Retrieval..............................  1.9000 per item
MICRSort Option (Fixed Fee)..................  29.0000 per month
MICRSort Option (per item)...................  0.0340 per item
Collections & Forgeries......................  19.0000 per item
MCPJ Microfiche Service......................  0.0025 per item (Min. $25.00, Max. $150.00)
Transportation...............................  Pass-through
 
                                  COIN & CURRENCY SERVICE: WESTERN SERVICE AREA
 
Cash Orders..................................  2.5500 per order, plus:
    Currency Orders..........................  0.3500 per $1,000 \2\
    Coin Orders..............................  2.9500 per box
Currency Deposits............................  1.5000 per $1,000 \2\
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 \2\
Late Order Surcharge.........................  12.5000 per order
Emergency Order Processing Fee...............  25.0000 per order
Large Cash Shipment Surcharge................  6.0000 per shipment \3\
Coin Shipment Surcharge......................  0.3000 per excess bag \4\
C&C Transportation (Zone W1).................  20.5000 per stop
C&C Transportation (Zone W2).................  33.5000 per stop
C&C Transportation (Zone W3).................  47.0000 per stop
C&C Transportation (Zone W4).................  Negotiable \5\
 
                                  COIN & CURRENCY SERVICE: EASTERN SERVICE AREA
 
Cash Orders..................................  2.5500 per order, plus:
    Currency Orders..........................  0.3500 per $1,000 \2\
    Coin Orders..............................  3.1000 per box
Currency Deposits............................  1.5000 per $1,000 \2\
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 \2\
Late Order Surcharge.........................  12.5000 per order
Emergency Order Processing Fee...............  25.0000 per order
Large Cash Shipment Surcharge................  6.0000 per shipment \3\
Coin Shipment Surcharge......................  0.3000 per excess bag \4\
C&C Transportation (Zone E1).................  30.0000 per stop
C&C Transportation (Zone E2).................  42.0000 per stop
C&C Transportation (Zone E3).................  65.0000 per stop
C&C Transportation (Zone E4).................  Negotiable \4\
 
 
                                               ACCOUNT MAINTENANCE
Demand Deposit Accounts......................  23.0000 per month, per account
Cut-Off Statements...........................  15.0000 per statement
Telephone Inquiry............................  2.5000 per telephone call
Paper Advice of Transactions(DTS)............  37.5000 per account, per month
Daily Transaction Data via LINK..............  No Charge
 

[[Page 16473]]

 
                                             MONTHLY MINIMUM CHARGES
 
  The Bank reserves the right to impose a monthly minimum charge for its services. The standard minimum will be
 $2,500 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
   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 CHANGES 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.
 
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\1\ 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.
\2\ Charges will be applied to each $1,000 ordered or deposited, and to any portion of a shipment not divisible
  by that standard unit.
\3\ This surcharge will apply to each cash shipments valued at $250,000 and over.
\4\ A surcharge will apply to each container (box/bag) of coin in an order/delivery after the first 20
  containers.
\5\ Reserved for remote locations: delivery charges will be negotiated with the courier service on an individual
  basis.

District 4.--Federal Home Loan Bank of Atlanta (2001 NOW/DDA Services) 
(Does not provide item processing services for third party accounts)
District 5.--Federal Home Loan Bank of Cincinnati (2001 NOW/DDA 
Services) (Does not provide item processing services for third party 
accounts)
District 6.--Federal Home Loan Bank of Indianapolis (2001 NOW/DDA 
Services)

Fee Schedules

    Checking Account Processing--Effective February 1, 2000

                                                     I. Checking Account Service Transaction Charges
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                     Safekeeping  Turnaround   Complete   Full service image \1\   Limited service image
                                                                    -------------  (daily or -----------------------------------------------------------
                           Monthly volume                                           cycled)
                                                                       Per item  ------------  Per item    Per item       Per      Per item       Per
                                                                                   Per item                            statement               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
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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.
\1\ Image Monthly Maintenance Fee of 500.00 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
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Large Dollar Signature Verification.....................            0.75
Over-the-counters and Microfilm.........................            0.45
Return Items............................................            2.40
Photocopies \1\ 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
High Dollar Return Notification.........................          N/C
Debit Entries...........................................          N/C

[[Page 16474]]

 
Credit Entries..........................................          N/C
Standard Stmt. Stuffers (up to 2) \2\...................          N/C
Statement Stuffing Savings (Non DDA Accounts)...........            0.20 
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\1\ Photocopy request of 50 or more are charged at an hourly rate of
  15.00.
\2\ Each additional (over 2) will be charged at .02 per statement.

    b. Demand Deposits Accounts/ACH

                              Item Processing Service Fees--Cash Management Service
----------------------------------------------------------------------------------------------------------------
 
----------------------------------------------------------------------------------------------------------------
Demand deposit clearings will have the
 following service charges:
    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........................  $ 8.50 per tape
    or originations..........................  .045 per item
    NACHA, MPX...............................  Actual Federal Reserve charges
    ACH entries clearing through our R&T       .25 per item
     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.
    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..........................  .30 per adjustment
Debit Entries................................  N/C
Credit Entries...............................  N/C
Microfilming.................................  N/C
Mortgage Remittance (Basic Service)..........  .35
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 (2001 NOW/DDA Services) 
(Does not provide item processing services for third party accounts)
District 8.--Federal Home Loan Bank of Des Moines (2001 NOW/DDA 
Services) (Does not provide item processing services for third party 
accounts)
District 9.--Federal Home Loan Bank of Dallas (2001 NOW/DDA Services) 
(Does not provide item processing services for third party accounts)
District 10.--Federal Home Loan Bank of Topeka (2001 NOW/DDA Services) 
(Does not provide item processing services for third party accounts)
District 11.--Federal Home Loan Bank of San Francisco (2001 NOW/DDA 
services) (Does not provide item processing services for third party 
accounts)
District 12.--Federal Home Loan Bank of Seattle (2001 NOW/DDA Services) 
(Does not provide item processing services for third party accounts)

    Dated: March 20, 2001.

    By the Federal Housing Finance Board
James L. Bothwell,
Managing Director.
[FR Doc. 01-7336 Filed 3-23-01; 8:45 am]
BILLING CODE 6725-01-P