Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 79330-79331 [2022-28122]
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79330
Federal Register / Vol. 87, No. 247 / Tuesday, December 27, 2022 / Notices
number of entries, will be accepted for processing.
Only those persons identified as authorized
individuals on the National Settlement Service 04
Agent Contact Form may submit offline settlement
files. For questions related to the National
Settlement Service offline service, please contact
National Settlement Service Central Support
Service Staff (CSSS) at 800–758–9403, or via email
at csss.staff@ny.frb.org.
95 Any settlement arrangement that accrues less
than $60 during a calendar month will be assessed
a variable amount to reach the minimum monthly
fee.
96 Restricted Securities Accounts maintained by
the Reserve Banks under the Loans and Discounts
program and the 31 CFR part 202 program are not
assessed for monthly account maintenance fees or
fees for Transfers of Book-Entry Securities to or
from such Restricted Securities Accounts.
Restricted Securities Accounts maintained by the
Reserve Banks under the 31 CFR part 225 program
are subject to monthly account maintenance fees
but not fees for Transfers of Book-Entry Securities
to or from such Restricted Securities Accounts.
97 These fees are set by the Federal Reserve Banks.
98 This surcharge is set by the Federal Reserve
Banks. It is in addition to any basic transfer or
reversal fee.
99 Restricted Securities Accounts maintained by
the Reserve Banks under the Loans and Discounts
program and the 31 CFR. part 202 program are not
assessed for monthly account maintenance fees or
fees for Transfers of Book-Entry Securities to or
from such Restricted Securities Accounts.
Restricted Securities Accounts maintained by the
Reserve Banks under the 31 CFR part 225 program
are subject to monthly account maintenance fees
but not fees for Transfers of Book-Entry Securities
to or from such Restricted Securities Accounts.
100 These fees are set by the Federal Reserve
Banks.
101 These fees are set by the Federal Reserve
Banks.
102 The U.S. Department of the Treasury absorbs
the monthly account maintenance fees the Federal
Reserve Banks charge to the extent a securities
account contains only Treasury securities.
103 The U.S. Department of the Treasury absorbs
the monthly account maintenance fees the Federal
Reserve Banks charge to the extent a securities
account contains only Treasury securities.
104 These fees are set by the Federal Reserve
Banks.
105 Automated Claim Adjustment Process (ACAP)
fees apply to all ACAP-eligible security types. For
information about ACAP’s enhancements coming
up in 2023 and their implementation dates, please
visit this website.
106 The billing code 20141, Fail Claim Adjustment
Fee, will be sunset once Phase 1 of the ACAP’s
Enhancement Project goes live. For information
about ACAP’s enhancements implementation dates,
please visit this website.
107 The billing codes 20144, Fail Claim
Adjustment Fee (Debit), and 20145, Fail Claim
Adjustment Fee (Credit), will be introduced once
Phase 1 of the ACAP’s Enhancement Project goes
live. These fees will replace the billing code 20141,
Fail Claim Adjustment Fee. For information about
ACAP’s enhancements implementation dates,
please visit this website.
108 Participants are charged the Repo Position
Maintenance Fee for both a Repo-Out balance and
a Repo-In balance. These fees will be assessed every
business day.
109 Participants are charged the Securities
Lending Position Maintenance Fee for both a
Securities Borrowed balance and a Securities Lent
balance. These fees will be assessed every business
day.
110 This fee is set by and remitted to the
Government National Mortgage Association
(GNMA).
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111 The Federal Reserve Banks charge participants
a Joint Custody Origination Surcharge for both
Agency and Treasury securities.
112 These fees are set by the Federal Reserve
Banks.
113 These fees are set by the Federal Reserve
Banks.
114 FedComplete packages are all-electronic
service options that bundle payment services with
an access solution for one monthly fee.
115 FedComplete customers that use the email
service would be charged the FedMail Email a la
carte fee and for all FedMail-FedLine Exchange
Subscriber 5-packs.
116 Packages with an ‘‘A’’ include the FedLine
Advantage channel.
117 Per-item surcharges are in addition to the
standard fees listed in the applicable priced
services fee schedules.
118 FedComplete customers will be charged $4 for
each FedForward cash letter over the monthly
package threshold. This activity will appear under
billing code 51998 in Service Area 1521 on a
month-lagged basis.
119 FedMail and FedLine Exchange packages do
not include user credentials, which are required to
access priced services and certain informational
services. Credentials are sold separately in packs of
five via the FedMail-FedLine Exchange Subscriber
5-pack.
120 Additional VPNs are available for FedLine
Advantage, FedLine Command, and FedLine Direct
packages only. All customers will need to replace
their existing VPN device with the new VPN device.
Effective October 1, 2023, customers who have not
started migration will be assessed a $400 monthly
fee until migration is complete.
121 FedLine Web and Advantage packages do not
include user credentials, which are required to
access priced services and certain informational
services. Credentials are sold separately in packs of
five via the FedLine Subscriber 5-pack.
122 FedLine Solutions package fees associated
with establishing a new connection or upgrading a
current connection to FedLine Advantage®,
FedLine Command®, or FedLine Direct® for the
FedNowSM Service will be credited back on a
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123 Early termination fees and/or expedited order
fees may apply to all FedLine Direct packages and
FedLine Direct a la carte options.
124 These add-on services can be purchased only
with a FedLine Solution.
125 New FedNowSM Subscribers will not
contribute toward the FedLine Subscribers—Pack of
5 monthly fee in 2023.
126 Additional VPNs are available for FedLine
Advantage, FedLine Command, and FedLine Direct
packages only. All customers will need to replace
their existing VPN device with the new VPN device.
Effective October 1, 2023, customers who have not
started migration will be assessed a $400 monthly
fee until migration is complete.
127 An additional VPN or WAN device leveraged
exclusively for the FedNowSM Service will not be
assessed the monthly ala carte fee for the device(s)
in 2023. While customers may opt to add a WAN
router of any applicable line speed for the
FedNowSM Service, the total monthly qualifying
amount will be limited to $5,000 per month.
128 Fee is in addition to the FedLine Direct
package fees or additional 2Mbps WAN fees.
129 The FedLine Custom Implementation Fee is
$2,500 or $5,000 based on the complexity of the
setup.
130 Limited to installed base only. All customers
will need to migrate FedMail Fax services to
FedMail or FedLine services, where applicable.
Effective October 1, 2023, the price will increase to
$400 for FedMail Fax.
131 Available only to customers with a priced
FedLine package.
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By order of the Board of Governors of the
Federal Reserve System.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2022–28096 Filed 12–23–22; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisitions of Shares of a Bank or
Bank Holding Company
The notificants listed below have
applied under the Change in Bank
Control Act (Act) (12 U.S.C. 1817(j)) and
§ 225.41 of the Board’s Regulation Y (12
CFR 225.41) to acquire shares of a bank
or bank holding company. The factors
that are considered in acting on the
applications are set forth in paragraph 7
of the Act (12 U.S.C. 1817(j)(7)).
The public portions of the
applications listed below, as well as
other related filings required by the
Board, if any, are available for
immediate inspection at the Federal
Reserve Bank(s) indicated below and at
the offices of the Board of Governors.
This information may also be obtained
on an expedited basis, upon request, by
contacting the appropriate Federal
Reserve Bank and from the Board’s
Freedom of Information Office at
https://www.federalreserve.gov/foia/
request.htm. Interested persons may
express their views in writing on the
standards enumerated in paragraph 7 of
the Act.
Comments regarding each of these
applications must be received at the
Reserve Bank indicated or the offices of
the Board of Governors, Ann E.
Misback, Secretary of the Board, 20th
Street and Constitution Avenue NW,
Washington DC 20551–0001, not later
than January 11, 2023.
A. Federal Reserve Bank of Kansas City
(Jeffrey Imgarten, Assistant Vice
President) 1 Memorial Drive, Kansas
City, Missouri 64198.
132 Five download codes are included at no cost
in all Plus and Premier packages.
133 Cash Management Service options are limited
to Plus and Premier packages.
134 The End of Day Financial Institution
Reconcilement Data (FIRD) File option is available
for FedLine Web Plus, FedLine Advantage Plus and
Premier packages. It is available for no extra fee in
FedLine Command Plus and Direct packages.
135 The Statement of Account Spreadsheet File
(SASF) option is available for FedLine Web Plus,
FedLine Advantage Plus and Premier packages. It
is available for no extra fee in FedLine Command
Plus and Direct packages.
136 The Intra-day Download Search Results in
Spreadsheet Form option is available for the
FedLine Web Plus package. It is available for no
extra fee in FedLine Advantage and higher
packages.
E:\FR\FM\27DEN1.SGM
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Federal Register / Vol. 87, No. 247 / Tuesday, December 27, 2022 / Notices
1. Roger D. Cattle, Lincoln, Nebraska,
and John T. Cattle, Overland Park,
Kansas, as co-voting proxies of the John
W. Cattle, Jr. Bank Stock Marital Trust,
Seward, Nebraska; to become members
of the Cattle Family Group, a group
acting in concert, to retain voting shares
of Cattle Crossing, Inc., and thereby
indirectly retain voting shares of Cattle
Bank and Trust Company, both of
Seward, Nebraska.
Board of Governors of the Federal Reserve
System.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022–28122 Filed 12–23–22; 8:45 am]
BILLING CODE P
FEDERAL RESERVE SYSTEM
[Docket No. OP–1796]
Modifications to the Federal Reserve
Policy on Payment System Risk To
Accommodate Enhancement to the
Automated Claim Adjustment Process
Board of Governors of the
Federal Reserve System.
ACTION: Notice.
AGENCY:
The Board of Governors of the
Federal Reserve System (Board) is
revising part II of the Federal Reserve
Policy on Payment System Risk (PSR
policy) to add a posting rule to facilitate
the implementation of enhancements to
the Automated Claim Adjustment
Process (ACAP).
DATES: Applicability Date: January 30,
2023.
SUMMARY:
FOR FURTHER INFORMATION CONTACT:
Jason A. Hinkle, Deputy Associate
Director (202–912–7805) or Benjamin J.
Hobbs, Senior Financial Institution
Policy Analyst (202–872–7549),
Division of Reserve Bank Operations
and Payment Systems. Cody Gaffney
(202–452–2633), Senior Attorney, Legal
Division, Board of Governors of the
Federal Reserve System, 20th Street and
Constitution Avenue, Washington, DC
20551. For users of TTY–TRS, please
call 711 from any telephone, anywhere
in the United States.
SUPPLEMENTARY INFORMATION:
TKELLEY on DSK125TN23PROD with NOTICES
I. Background
Part II of the PSR policy governs the
provision of intraday credit (also known
as daylight overdrafts) in accounts at the
Reserve Banks.1 The PSR policy
includes procedures, referred to as
posting rules, that are used to measure
1 The Board’s PSR policy is available at: https://
www.federalreserve.gov/paymentsystems/psr_
about.htm.
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account balances. The posting rules
establish settlement times for debits and
credits at Federal Reserve accounts for
different payment types.
The ACAP is a feature of the
Fedwire® Securities Service (‘‘Fedwire
Securities’’ or ‘‘Service’’) that offers
Fedwire Securities participants
(participants) the option to automate
principal and interest (P&I) tracking and
claim adjustments related to
transactions between participants that
settle over Fedwire Securities.2 The
Reserve Banks, in their capacity as fiscal
agents for issuers of securities issued
over Fedwire Securities, make P&I
payments to record-date holders of the
securities.3 For some types of
transactions between participants, such
as repurchase agreements (repos), the
participant identified as the record-date
holder by the Service may not be
entitled to the P&I payment pursuant to
a separate agreement between the
transaction participants. The ACAP
offers an automated way for the recorddate holder to transfer a P&I payment
from its master account to the master
account of the designated participant.
In January 2022 the Federal Reserve
Banks announced phased enhancements
to the Service that will expand ACAP
tracking to all coupon-paying securities
issued over Fedwire Securities, add
securities lending as a transaction type,
and shift the timing of settling claim
adjustments.4 Currently, ACAP
adjustments are settled at approximately
4:30 p.m. ET via the National Settlement
Service (NSS). Most, but not all claim
adjustments are associated with that
day’s P&I payment which are generally
made earlier in the day. The shift in the
timing of settling claim adjustments is
designed to narrow the timing gap
between P&I payments and the
associated claim adjustments. To effect
2 An ACAP claim adjustment is a transfer of funds
from one Fedwire Securities participant to another
participant over the Service.
3 Issuers provide securities record dates and
payment dates information to the Fedwire
Securities Service. As an operational matter, a
participant who is identified by the Service as the
holder of a security after the Service closes on the
business day prior to the security’s record date is
a record-date holder of the security. A record-date
holder of a security is entitled to payment of P&I
on that security, and the P&I payment is distributed
to record-date holders on the payment date
associated with the record date regardless of
whether the participant still holds the security on
the payment date.
4 See FRBServices.org, New Implementation Plan
for the Automated Claim Adjustment Process
Enhancements (Jan. 18, 2022), https://
www.frbservices.org/news/communications/011822fedwire-securities-participants-service-providers.
For the most recent information regarding the
ACAP enhancements, see https://
www.frbservices.org/resources/financial-services/
securities/acap.
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79331
this shift in timing, the ACAP
enhancements include a design change
to utilize new Fedwire Securities
messages to settle claims, which result
in claim adjustments being effected
promptly after the associated P&I
payments are made. This design change
will be implemented January 30, 2023.
II. New Posting Rule To Accommodate
the ACAP Enhancements
Currently, ACAP adjustments are not
explicitly mentioned in the posting
rules of the PSR policy because ACAP
adjustments are settled using NSS,
which has its own posting rule.5 The
Board is adding a new posting rule to
part II of the PSR policy to reflect the
fact that ACAP adjustments will be
made on a gross basis through Fedwire
Securities throughout the business day.
The ACAP enhancements and the
new posting rule are not expected to
increase risk to the Reserve Banks or the
payment system, even as the ACAP
expands to additional security and
transaction claim types and as claim
adjustment volume increases. ACAP
debit adjustments are small compared to
the participants’ aggregate P&I credits
on a given day and analysis shows that
they are not expected to significantly
impact participants’ master account
balances. In addition, all participants
will be notified of all claim adjustments
before the adjustments are processed.
III. Technical Changes to Text of the
PSR Policy
In addition to the new posting rule to
accommodate the ACAP enhancements,
the Board is modifying footnote 37 of
the PSR policy by adding a hyperlink to
a frequently updated document
containing a list of securities issuers,
including GSEs, rather than listing the
securities issuers directly in the
footnote. This change is not substantive
in nature and reflects current practices
that the Reserve Banks use to administer
the PSR policy.
IV. Federal Reserve Policy on Payment
System Risk
[The following portion titled ‘‘Federal
Reserve Policy on Payment System
Risk’’ will not publish in the Code of
Federal Regulations.]
Federal Reserve Policy on Payment
System Risk
Part II. Federal Reserve Intraday Credit
Policies
Under ‘‘Procedures for Measuring
Daylight Overdrafts’’, revise ‘‘Opening
balance (previous day’s closing
5 NSS entries settle throughout the business day
as the Reserve Banks process NSS files.
E:\FR\FM\27DEN1.SGM
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]]>Agencies
[Federal Register Volume 87, Number 247 (Tuesday, December 27, 2022)]
[Notices]
[Pages 79330-79331]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-28122]
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices; Acquisitions of Shares of a Bank
or Bank Holding Company
The notificants listed below have applied under the Change in Bank
Control Act (Act) (12 U.S.C. 1817(j)) and Sec. 225.41 of the Board's
Regulation Y (12 CFR 225.41) to acquire shares of a bank or bank
holding company. The factors that are considered in acting on the
applications are set forth in paragraph 7 of the Act (12 U.S.C.
1817(j)(7)).
The public portions of the applications listed below, as well as
other related filings required by the Board, if any, are available for
immediate inspection at the Federal Reserve Bank(s) indicated below and
at the offices of the Board of Governors. This information may also be
obtained on an expedited basis, upon request, by contacting the
appropriate Federal Reserve Bank and from the Board's Freedom of
Information Office at https://www.federalreserve.gov/foia/request.htm.
Interested persons may express their views in writing on the standards
enumerated in paragraph 7 of the Act.
Comments regarding each of these applications must be received at
the Reserve Bank indicated or the offices of the Board of Governors,
Ann E. Misback, Secretary of the Board, 20th Street and Constitution
Avenue NW, Washington DC 20551-0001, not later than January 11, 2023.
A. Federal Reserve Bank of Kansas City
(Jeffrey Imgarten, Assistant Vice President) 1 Memorial Drive,
Kansas City, Missouri 64198.
[[Page 79331]]
1. Roger D. Cattle, Lincoln, Nebraska, and John T. Cattle, Overland
Park, Kansas, as co-voting proxies of the John W. Cattle, Jr. Bank
Stock Marital Trust, Seward, Nebraska; to become members of the Cattle
Family Group, a group acting in concert, to retain voting shares of
Cattle Crossing, Inc., and thereby indirectly retain voting shares of
Cattle Bank and Trust Company, both of Seward, Nebraska.
Board of Governors of the Federal Reserve System.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-28122 Filed 12-23-22; 8:45 am]
BILLING CODE P
