Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire

Document 2022-11090 is a Final Rule published by the Federal Reserve System in the Federal Register on June 6, 2022, with an effective date of October 1, 2022. The Board is publishing final amendments to Regulation J to govern funds transfers through the Federal Reserve Banks' (Reserve Banks) new FedNow\SM\ Service. The final rule also includes changes and clarifications to regulations governing the Fedwire Funds Service, to reflect the fact that the Reserve Banks will be operating a second funds transfer service in addition to the Fedwire Funds Service, as well as technical corrections to regulations governing the check service. View the original at https://www.federalregister.gov/documents/2022/06/06/2022-11090/collection-of-checks-and-other-items-by-federal-reserve-banks-and-funds-transfers-through-fedwire.

No. Document 2022-11090 is not classified as economically significant under Executive Order 12866. Economically significant rules require OIRA review and are estimated to have impacts of $100 million or more per year.