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Thursday, October 27, 2016

Fed’s 2017 Fees to Rise 3.2%

The Federal Reserve System’s 2017 fee schedules for priced services that go into effect Jan. 1 are expected to be approximately 3.2% higher than in 2016, and the system expects to make a 3.6% profit, the Fed said.

Previously announced changes to check fees, effective Jan. 3, are expected to reduce prices on average by 3.5%, the Fed said, while FedACH fees will rise by 5.3%. Meanwhile, fees for Fedwire Funds will increase by 3.3%. Fees for the Fedwire Securities Service will leap by 18%, and FedLine access fees will rise by 8.1%. National Settlement Service prices will remain unchanged. Indexed for GDP growth, overall prices are expected to decline by less than 1%.

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