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What are the implications for the contractual clearing balance program?

April 26, 2017Balance clearing contractual implications program

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What are the implications for the contractual clearing balance program?

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Clearing balances will continue to receive earnings credits. Beginning with the reserve maintenance period that started October 9, 2008, earnings credits are paid on 100 percent of eligible clearing balances. There will not be any change in the way that earnings credits are used to offset Federal Reserve service charges.