The Federal Reserve extended until Sept. 6 the comment period on its proposal to expand Fedwire Funds Service and National Settlement Services operating hours. Comments on the proposal were originally due by July 8.
Fed issues ICBA-requested extension on Fedwire comment period
June 24, 2024 / By ICBA
The Federal Reserve extended until Sept. 6 the comment period on its proposal to expand Fedwire Funds Service and National Settlement Services operating hours. Comments on the proposal were originally due by July 8.
The Federal Reserve extended until Sept. 6 the comment period on its proposal to expand Fedwire Funds Service and National Settlement Services operating hours. Comments on the proposal were originally due by July 8.
ICBA Action: ICBA requested a 90-day extension to the Fed’s request for comment, noting that community bankers need time to assess the implications of Fedwire’s expanded schedule, its impact on additional financial exchange systems, and how these rulemakings will affect staffing, fraud management, and system maintenance.
Background: Currently, both the Fedwire Funds Service and the NSS operate Monday through Friday, excluding holidays. Under the proposal, both services would operate every day of the year.
Subscribe now
Sign up for the Independent Banker newsletter to receive twice-monthly emails about new issues and must-read content you might have missed.
Sponsored Content
Featured Webinars
Join ICBA Community
Interested in discussing this and other topics? Network with and learn from your peers with the app designed for community bankers.
Subscribe Today
Sign up for Independent Banker eNews to receive twice-monthly emails that alert you when a new issue drops and highlight must-read content you might have missed.
News Watch Today
Join the Conversation with ICBA Community
ICBA Community is an online platform led by community bankers to foster connections, collaborations, and discussions on industry news, best practices, and regulations, while promoting networking, mentorship, and member feedback to guide future initiatives.
Join the Community Example Text
