“All Systems Go” for
Check 21 Launch

Getting 100 Percent Next-Day Credit: It's So Easy

Fed Moves to Actual Availability Accounting Practices for Check Services

We’re Counting Down
to March 31st

Reserve Notes

Learn How to Stay Moves Ahead of Your Competition

Board of Governors Proposes Changes to Cash Recirculation Policy

Federal Reserve Consolidates Administrative Billing Functions

Customer Satisfaction with TT&L Remains High

Fed Announces Upcoming
2004 Customer Events

Fed Contacts

Fed Announces 2004 Pricing

In response to changes within the market and the passage of Check 21, the Federal Reserve has adjusted its financial services pricing. The Fed’s sustained focus on efficiency has allowed it to either maintain or reduce electronic access and electronic payments processing fees for 2004. Paper check prices, however, increased by an average of 5 percent, and electronic check prices rose by less than 1 percent. For complete listings of the 2004 national and district fee schedules, visit www.frbservices.org.

Fed Opens Regional Adjustment Sites

Last September, the Cleveland Fed became the first office in the Federal Reserve System to become a Regional Adjustment Site (RAS). Pittsburgh zone check adjustments have been processed in Cleveland since November 2003, and Columbus adjustments were moved to Cleveland in December. This year, the transitions continue. Cincinnati adjustments moved to Cleveland and St. Louis adjustments moved to Memphis in February. In July, Little Rock adjustments are expected to move to the RAS in Memphis, and, in August, Louisville adjustments are expected to move to the Cleveland site. By the end of 2004, 12 sites will be established as part of the Fed’s check restructuring initiative.

As we move forward with these restructuring initiatives, we will make every effort to minimize changes to our customers, while upholding our commitment to continued improvements in our efficiency and effectiveness. Frequent communications have been shared with affected customers throughout this process and are posted online at www.stlouisfed.org/financial/Communications/default.html. Additional check restructuring information can be found online at www.frbservices.org.

50 State Quarters® Program Continues in 2004

The 50 State Quarters program enters its sixth year in 2004. The program began in 1999 with the release of the Delaware commemorative quarter and will conclude in 2008 when the Hawaii quarter is released. This year, the following states will be honored:

You can visit the U.S. Mint’s web site at www.usmint.gov for additional information.

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