federal_register: 2019-28002
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| document_number | title | type | abstract | publication_date | pub_year | pub_month | html_url | pdf_url | agency_names | agency_ids | excerpts |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2019-28002 | Modifications to the Federal Reserve Banks' National Settlement Service and Fedwire® Funds Service To Support Enhancements to the Same-Day ACH Service and Corresponding Changes to the Federal Reserve Policy on Payment System Risk | Notice | The Board of Governors (Board) has approved modifications to the Federal Reserve Banks' (Reserve Banks) payment services to facilitate adoption of a later same-day automated clearinghouse (ACH) processing and settlement window. Specifically, the Reserve Banks will extend the daily operating hours of the National Settlement Service (NSS) and the Fedwire[supreg] Funds Service. To mitigate the risk that these modified hours will cause more frequent delays to the 9:00 p.m. eastern time (ET) reopening of the Fedwire Funds Service, the Reserve Banks will modify the practice of maintaining a 2-hour window between the closing and reopening of the Fedwire Funds Service to maintain only a 90-minute window, and will increase the $1 billion value threshold for extending the closing of the Fedwire Funds Service to $3 billion. Finally, the Board has approved corresponding changes to the Federal Reserve Policy on Payment System Risk (PSR policy). | 2019-12-30 | 2019 | 12 | https://www.federalregister.gov/documents/2019/12/30/2019-28002/modifications-to-the-federal-reserve-banks-national-settlement-service-and-fedwire-funds-service-to | https://www.govinfo.gov/content/pkg/FR-2019-12-30/pdf/2019-28002.pdf | Federal Reserve System | 188 | The Board of Governors (Board) has approved modifications to the Federal Reserve Banks' (Reserve Banks) payment services to facilitate adoption of a later same-day automated clearinghouse (ACH) processing and settlement window. Specifically, the... |