Request for Comment on Proposed Change to Daylight Overdraft Posting Rules - Circulars

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Circular

Request for Comment on Proposed Change to Daylight Overdraft Posting Rules

February 29, 2008

Circular No. 11935

The Federal Reserve Board has requested public comment on a proposed change to the daylight overdraft posting rules under its Payments System Risk (PSR) policy to align the posting times for ACH credit and debit transfers in the payments system.

The Board proposes to change the posting time for commercial and government ACH debit transfers that are processed by the Reserve Banks' FedACH service to 8:30 a.m. eastern time (ET) to coincide with the posting time for commercial and government ACH credit transfers. In line with this change, the Board also intends, in consultation with the U.S. Treasury, to move the posting time for Treasury Tax and Loan investments associated with Electronic Federal Tax Payment System ACH debit transfers to 8:30 a.m. ET to maintain the simultaneous posting of ACH transactions and related Treasury transactions.

See the press release for full details.

Press release offsite

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