Fed announces plans to develop real-time settlement service to support faster payments

The Federal Reserve Board has determined that the Federal Reserve should take the following two actions: Develop a new interbank 24x7x365 real-time gross settlement (RTGS) service to be offered by the Federal Reserve Banks to directly support faster payments and to be called the FedNow Service Explore expanding the hours of the Fedwire Funds Service... Continue Reading…...(read more)

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