How will the uncollateralized daylight overdrafts fees be calculated?
In calculating an institution’s fees, the value of unencumbered collateral pledged to the Reserve Banks will be subtracted from all negative end-of-minute account balances to determine the institution’s uncollateralized negative end-of-minute balances. The uncollateralized negative end-of-minute account balances will be summed and divided by the number of minutes in the Fedwire funds transfer operating day to arrive at the daily average uncollateralized daylight overdraft, which will be assessed at 50 basis point (annual rate) fee. Daily daylight overdraft fees for each reserve maintenance period will be added together and applied a fee waiver.
