Agency Forms Under Review — 1995-12-20 [95-30892]

The Board requests comment on the proposed one-time Check Fraud Survey. This survey will help the Federal Reserve to fulfill the Congressional mandate that the Board report to Congress on the advisability of modifying the Expedited Funds Availability Act (EFAA) to extend the maximum permissible hold period for local checks as a means of decreasing losses related to check fraud. The Congress further directed the Board to consider whether there is a pattern of significant increases in losses related to check fraud at depository institutions attributable to the provisions of the EFAA; to consider whether an extension by one day of the period between the deposit of a local check and the availability of funds for withdrawal would be effective in reducing the volume of losses related to check fraud; and to make recommendations for legislative actions.