The Federal Reserve has cut prices on some electronic funds transfers, and says the cuts are evidence that its operational consolidation is saving money.

The charge to banks for interregional automated clearing house transactions has been lowered to 1 cent per item, from 1.2 cents. Further, the per-item charge for presorted automated clearing house payments - in which the sending bank performs some of the processing tasks - has been lowered 10%, to 0.9 cents.

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