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FRB: Exit Municipal Securities Collection Service

ABA Contact: Cris Naser, 202-663-5332
Published: Federal Register October 19, 2004
Federal Reserve October 14, 2004
Comments Due: December 20, 2004
Disposition: Filed December 22, 2004

Summary

The Federal Reserve Board proposes to stop providing services for collecting definitive municipal securities at the end of 2005 due to declining volume and increasing costs. The agency said only approximately 1000 banks continue to use the service and that other reasonable private-sector alternatives exist.

2004 Regulations Chart
Federal Register
Comment Letter

Questions?  Please contact Cris Naser for more information.