Federal Reserve Bank Services — 1995-01-03 [94-31981]

The Board requests comment on the potential benefits and costs of opening the Fedwire on-line book-entry securities transfer service earlier in the day sometime after the implementation of expanded Fedwire funds transfer operating hours, which is scheduled for 1997. The Board also requests comment on new service capabilities that would give banks the option of participating in earlier Fedwire securities transfer hours and new service capabilities that would allow banks to control their use of securities-related Federal Reserve intraday credit during expanded hours and/or core operating hours. Finally, the Board requests comment on the establishment of a firm closing time of 3:00 p.m. Eastern Time (ET) for transfers and 3:30 p.m. ET for reversals, beginning in January 1996. The Board is seeking input at this time in order to formulate a strategic direction for the Fedwire book-entry securities transfer service.