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Article: Fed Eases Policy on Cash Processing.(Federal Reserve Board, banks using the Federal Reserve Board's processing systems)
- Article from:
- American Banker
- Article date:
- March 10, 1998
- Author:
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The Federal Reserve Board is making it easier for banks to use its cash processing systems.
In a revised policy statement issued Friday, the Fed said banks may designate up to 10 locations anywhere in the country where they may receive free access to the cash processing system. Previously, the Fed required banks to access the cash processing system from sites within their home Federal Reserve Bank district.
"The revised policy provides flexibility to depository institutions to make the most cost-effective arrangements for obtaining cash services from reserve bank offices," the Fed said.
The change takes effect May 4.
Separately, the Fed on ...