On December 4, the Fed announced the pricing for certain payment services provided by the Federal Reserve Banks, e.g., the clearing of checks, ACH transactions, instant payments, wholesale payment and settlement services, etc. In a notice published in the Federal Register, the Fed approved setting the private-sector adjustment factor (PSAF) for 2026 at $34.1 million and the 2026 fee schedules for Fed services and electronic access.

These fees will recover direct, indirect, and imputed costs that would have been earned, including financing costs, taxes, and a return on equity (ROE) had a business provided the payment services. The Federal Reserve Banks project an estimated recovery rate of 108 percent in 2026, with a net gain of $53.9 million and a targeted ROE of $12.6 million.

Additionally, the price changes included: fee increases for FedACH Services, Fedwire Funds Service, and FedLine Solutions; fee decreases for Fedwire Securities Service transfer and maintenance fees; and significant increases to paper check fees due to declining check volumes. The pricing is set to go into effect January 1, 2026. The entire 2026 fee schedule was published here.