The Federal Reserve System’s 2017 fee schedules for priced services that go into effect Jan. 1 are expected to be approximately 3.2 percent higher than in 2016. The system expects to make a 3.6 percent profit on services provided in 2016, the Fed said yesterday.
Previously announced changes to check fees, effective Jan. 3, are expected to reduce prices on average by 3.5 percent, the Fed said, while FedACH fees will rise by 5.3 percent. Meanwhile, fees for Fedwire Funds will increase by 3.3 percent. Fees for the Fedwire Securities Service will leap by 18 percent, and FedLine access fees will rise by 8.1 percent. National Settlement Service prices will remain unchanged. Indexed for GDP growth, overall prices are expected to decline by less than 1 percent.