Effective July 23, 2015, the Federal Reserve Banks are amending Operating Circular 4, Automated Clearing House Items. The effective date of this amendment will coincide with the effective date of a change to the posting time for ACH debit items established in part II of the Federal Reserve Policy on Payment System Risk (“PSR Policy”). Specifically, as of that date, the posting time for ACH debit items will change to 8:30 am ET from 11 a.m. ET. A summary of all upcoming changes to the posting times outlined in part II of the PSR Policy is available at https://www.frbservices.org/fedflash/check/check_041515_01.html 
This amendment removes the table of settlement times for ACH items that had been included in paragraph 1.5 of appendix B and replaces it with new paragraph 1.5 that sets forth a revised settlement schedule. Revised paragraph 1.5 incorporates, as the settlement times for ACH items processed by the Federal Reserve Banks, the PSR Policy posting times that will be in effect as of July 23, 2015.
Your continued use of Federal Reserve Bank ACH services on or after July 23, 2015, constitutes agreement to the new terms of the operating circular.
See the link below on the Federal Reserve Bank Services website for the official version of the amended operating circular. To request a paper copy of any operating circular, contact your Customer Contact Center.
