What will be the fees associated with daylight overdrafts under the revised policy?
The revised policy introduces major changes in daylight overdraft pricing: • A zero fee will apply for collateralized daylight overdrafts, • A 50 basis point fee will be assessed on any uncollateralized daylight overdrafts, • A 150 basis point penalty fee will be assessed for institutions that do not have regular access to the discount window and are not eligible for intraday credit, and • A fee waiver of $150 will be subtracted from gross fees of all institutions, except institutions subject to the penalty fee.
