[Federal Register Volume 67, Number 61 (Friday, March 29, 2002)]
[Notices]
[Pages 15201-15203]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-7529]


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

FEDERAL HOUSING FINANCE BOARD

[No. 2002-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 (Finance 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 29, 2002.

FOR FURTHER INFORMATION CONTACT: Gwen R. Grogan, Acting Deputy 
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 to: (1) Accept 
demand deposits from member institutions; (2) be drawees of payment 
instruments; (3) engage in collection and settlement of payment 
instruments drawn on or issued by members and other eligible 
institutions; and (4) have such incidental powers 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 Finance Board.
    Section 975.6(c) of the Finance Board's regulations (12 CFR 
975.6(c)) provides for the annual publication in the Federal Register 
of all prices for Bank services. The following fee schedule is for the 
only Bank that offers item processing services to its members and other 
qualified financial institutions. Most of the remaining Banks provide 
other Correspondence Services, which may include securities 
safekeeping, disbursements, coin and

[[Page 15202]]

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 (2002 NOW/DDA Services) 
(Services not provided)
District 2.--Federal Home Loan Bank of New York (2002 NOW/DDA Services) 
(Does not provide item processing services for third party accounts)
District 3.--Federal Home Loan Bank of Pittsburgh (2002 NOW/DDA 
Services) (Does not provide item processing services for third party 
accounts)
District 4.--Federal Home Loan Bank of Atlanta (2002 NOW/DDA Services) 
(Does not provide item processing services for third party accounts)
District 5.--Federal Home Loan Bank of Cincinnati (2002 NOW/DDA 
Services) (Does not provide item processing services for third party 
accounts)
District 6.--Federal Home Loan Bank of Indianapolis (2002 NOW/DDA 
Services)

Fee Schedules

Checking Account Processing

                                                    I.--Checking Account Service Transaction Charges
                                                              [Effective February 1, 2000]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                               Safekeeping   Turnaround    Complete      Full service image*     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
100,000 and up...............................................         .030        .0385        .0745          .06          .40          .02         .40
--------------------------------------------------------------------------------------------------------------------------------------------------------
Note.--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 $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.


------------------------------------------------------------------------
                                      Image     CD image limited service
                                     archive   -------------------------
                                     limited
          Monthly volume             service*
                                  -------------   Per item      Per CD
                                     Per item
------------------------------------------------------------------------
0-5,000..........................       $.0125       $.0075       $10.00
5-10,000.........................        .0125        .0075        10.00
10-15,000........................        .0125        .0075        10.00
15-25,000........................        .0125        .0075        10.00
25-50,000........................        .0125        .0075        10.00
50-75,000........................        .0125        .0075        10.00
75-100,000.......................        .0125        .0075        10.00
100,000 and up...................        .0125        .0075       10.00
------------------------------------------------------------------------
Note.--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 $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
------------------------------------------------------------------------
 
------------------------------------------------------------------------
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...........................  100.00 per month
+Journal Entries..........................  3.00 each
Encoding Errors...........................  2.75
Fine Sort Numeric Sequence................  0.02
High Dollar Return Notification...........  N/C
Debit Entries.............................  N/C
Credit Entries............................  N/C
Standard Stmt. Stuffers (up to 2)***......  N/C

[[Page 15203]]

 
Statement Stuffing Savings (Non DDA         0.20
 Accounts).
------------------------------------------------------------------------
Note. 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 $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.
**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. 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 number.....  .25 per item.
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.
EZ 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 (Photocopy request of 50 or more are
 charged at an hourly rate of $15.00.)
    Indianapolis (city):........................  8.25 per location, per day, per pickup.
    Outside Indianapolis:.......................  prices vary per location.
----------------------------------------------------------------------------------------------------------------
N/C--No Charge.
*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.

District 7.--Federal Home Loan Bank of Chicago (2002 NOW/DDA Services) 
(Does not provide item processing services for third party accounts)
District 8.--Federal Home Loan Bank of Des Moines (2002 NOW/DDA 
Services) (Does not provide item processing services for third party 
accounts)
District 9.--Federal Home Loan Bank of Dallas (2002 NOW/DDA Services) 
(Does not provide item processing services for third party accounts)
District 10.--Federal Home Loan Bank of Topeka (2002 NOW/DDA Services) 
(Does not provide item processing services for third party accounts)
District 11.--Federal Home Loan Bank of San Francisco (2002 NOW/DDA 
services) (Does not provide item processing services for third party 
accounts)
District 12.--Federal Home Loan Bank of Seattle (2002 NOW/DDA Services) 
(Does not provide item processing services for third party accounts)

    Dated: March 22, 2002.

    By the Federal Housing Finance Board.
James L. Bothwell,
Managing Director.
[FR Doc. 02-7529 Filed 3-28-02; 8:45 am]
BILLING CODE 6725-02-P