Federal Reserve Board upholds current schedule of prices for most payment services

The Federal Reserve Board announced Tuesday its intent to maintain the current schedule of prices for most payment services that the Federal Reserve Banks provide to depository institutions (priced services) in 2021, according to a Tuesday news release from the Board of Governors of the Federal Reserve System

In doing so, this action recognizes the uncertainties created by COVID-19 and the difficulty in applying standard forecasting tools in this environment.

The Board normally communicates information about pricing schedules near the end of the year, though its announcement to keep most 2021 prices flat at this time will provide support for the business planning of users and providers of payment services, the release said.

Later in 2020, the Board will issue a Federal Register Notice of final fee schedules, effective January 2, 2021, for payment services that the Federal Reserve Banks provide to depository institutions.