Federal Reserve proposes weekend and holiday operations for Fedwire and National Settlement Services to enhance US payment system safety and efficiency.
The Federal Reserve proposes expanding Fedwire Funds Service and National Settlement Service to operate on weekends and holidays, aiming to support the safety and efficiency of the US payment system. The expanded operation would be voluntary for service participants like banks and credit unions. The proposal does not involve changes to other services like Fedwire Securities Service or FedNow® Service, and seeks public feedback within 60 days.
May 03, 2024
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