Federal Reserve Payment System Risk Policy — 1995-08-15 [95-20128]

The Board requests comment on the benefits and costs of adopting a policy to control access to the Federal Reserve Banks' automated clearing house (ACH) service by entities other than the depository institution whose Federal Reserve account will be debited. The controls would apply to ACH credit transactions sent by third-party processors (service providers) and respondent depository institutions directly to a Reserve Bank or a private ACH operator that exchanges transactions with a Federal Reserve Bank. Controlling access to the ACH service will help to ensure the safety and soundness of the ACH system. The concepts underlying the proposed ACH third-party access policy are similar to the provisions of the Fedwire third-party access policy, which was originally adopted in 1987 and amended today.