[Federal Register Volume 68, Number 28 (Tuesday, February 11, 2003)]
[Notices]
[Pages 6921-6923]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-3399]


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FEDERAL HOUSING FINANCE BOARD

[No. 2003-N-3]


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 (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), demand deposit accounting (DDA), and other services offered to 
members and other eligible institutions.

EFFECTIVE DATE: February 11, 2003.

FOR FURTHER INFORMATION CONTACT: Scott L. Smith, Associate Director, 
Office of Supervision (202) 408-2991; 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 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 (2003 NOW/DDA 
Services). (Services not provided.)
    District 2.--Federal Home Loan Bank of New York (2003 NOW/DDA 
Services). (Does not provide item processing services for third party 
accounts.)
    District 3.--Federal Home Loan Bank of Pittsburgh (2003 NOW/DDA 
Services). (Does not provide item processing services for third party 
accounts.)
    District 4.--Federal Home Loan Bank of Atlanta (2003 NOW/DDA 
Services). (Does not provide item processing services for third party 
accounts.)
    District 5.--Federal Home Loan Bank of Cincinnati (2003 NOW/DDA 
Services). (Does not provide item processing services for third party 
accounts.)
    District 6.--Federal Home Loan Bank of Indianapolis (2003 NOW/DDA 
Services).

Fee Schedules Based on One Year Contract

    Checking Account Processing

I. Check Services Transaction Charges

--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                               Truncated               Complete        Full service  image*  Limited service
                                                                      ---------------------------------------------------------------------       Image*
              Turnaround (daily or cycled)                  Monthly                                                                         -----------------
                                                             volume      Per item     Per item    Per item   Per item   Per item     Per      Per     Per
                                                                                                                                  statement  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
--------------------------------------------------------------------------------------------------------------------------------------------------------


------------------------------------------------------------------------
                                     Image archive limited     CD image
                                           service*            limited
          Monthly volume          --------------------------   service
                                                            ------------
                                     Per item     Per item      Per CD
------------------------------------------------------------------------
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-and up.......................        .0125        .0075        10.00
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[[Page 6922]]

II. Ancillary Service Fees

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                          Service                                Cost
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Large Dollar Signature Verification........................       $0.750
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............................................  \1\ $100.00
+Journal Entries...........................................         3.00
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
Statement Stuffing Savings (Non DDA Accounts)..............        0.20
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\1\ per month.
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.


------------------------------------------------------------------------
                     Service                               Cost
------------------------------------------------------------------------
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.
Federal Home Loan Bank of Indianapolis

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Deposit Services:
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**...................................  ......................
    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 (2003 NOW/DDA 
Services.) (Does not provide item processing services for third party 
accounts.)
    District 8.--Federal Home Loan Bank of Des Moines (2003 NOW/DDA 
Services.) (Does not provide item

[[Page 6923]]

processing services for third party accounts.)
    District 9.--Federal Home Loan Bank of Dallas (2003 NOW/DDA 
Services.) (Does not provide item processing services for third party 
accounts.)
    District 10.--Federal Home Loan Bank of Topeka (2003 NOW/DDA 
Services.) (Does not provide item processing services for third party 
accounts.)
    District 11.--Federal Home Loan Bank of San Francisco (2003 NOW/DDA 
services.) (Does not provide item processing services for third party 
accounts.)
    District 12.--Federal Home Loan Bank of Seattle (2003 NOW/DDA 
Services.) (Does not provide item processing services for third party 
accounts.)

    Dated: February 6, 2003.

    By the Federal Housing Finance Board.
Stephen M. Cross,
Director, Office of Supervision.
[FR Doc. 03-3399 Filed 2-10-03; 8:45 am]
BILLING CODE 6725-02-P