Federal Reserve Board

235 results about this entity

Period: 17 Feb 2006 - 10 May 2024

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Federal Reserve rolls out resoursces ahead of instant payment launch

The Federal Reserve today launched new resources for the U.S. payments industry to facilitate education, preparation and ecosystem innovation in support of instant payments, a type of faster payment that provides payees with immediate access to funds, enabled by real-time final settlement between financial institutions.

/payments

The Federal Reserve and the Business Payments Coalition sign 73 firms to e-invoice exchange pilot

The Federal Reserve and the Business Payments Coalition (BPC) today announced 73 organizations have joined an industry effort to stand up an operational pilot exchange framework to enable businesses of all kinds to exchange electronic invoices (e-invoices).

/payments

Fed invites comments on shift to ISO 20022

The Federal Reserve Board on Monday announced that the Federal Reserve Banks will adopt the ISO 20022 message format for the Fedwire Funds Service.

/payments

American Bankers Association calls for FedNow interoperability with TCH network

In a comment letter to the Federal Reserve today, the American Bankers Association offered feedback on a recent proposal to revise Regulation J to accommodate the new FedNow Service, which is expected to go live in 2023.

Fed's Waller: CBDC 'solution in search of a problem'

/crypto

Fed's Waller: CBDC 'solution in search of a problem'

Federal Reserve governor Christopher Waller is the latest central bank bigwig to pour cold water on CBDCs, declaring himself "highly sceptical" that there is a compelling need for a digital dollar.

/payments

Fed extends FedNow comment period by a month

The Federal Reserve Board announced on Tuesday that it will extend until September 9, 2021, the comment period for its proposal to govern funds transfers over the Federal Reserve Banks' FedNow Service.

Fed official warns CBDCs could be embarrassing fad

/crypto

Fed official warns CBDCs could be embarrassing fad

The Federal Reserve's supervision chief has become the latest central bank bigwig to weigh in on CBDCs, comparing them to the parachute pants made famous in the 1980s by MC Hammer - a fad that could in future seem embarrassing.

/payments

Federal Reserve Board invites comment on proposed rule to govern funds transfers over FedNow

The Federal Reserve Board on Tuesday invited comment on a proposed rule to govern funds transfers over the Federal Reserve Banks' FedNow Service.

Fed chair Powell opens up digital dollar debate

/crypto

Fed chair Powell opens up digital dollar debate

The US Federal Reserve is inching ahead with its CBDC research, promising a discussion paper this summer as it seeks to secure a "better understanding" of the opportunities and risks associated with a digital dollar.

/inclusion

Atlanta Fed sets up payment inclusion committee

The Federal Reserve Bank of Atlanta announces the formation of a Special Committee on Payments Inclusion focused on finding solutions for cash-reliant individuals to become better connected to the economy, including to innovative financial services.

Central bankers split on CBDC future

/crypto

Central bankers split on CBDC future

The debate over the value of CBDCs continues to simmer, with central bankers on either side of the pond weighing in with very different opinions.

Fed consults on debit card standards and fintech access to payment network

/regulation

Fed consults on debit card standards and fintech access to payment network

The US Federal Reserve is to push through new rules to ensure that merchants can choose between multiple networks for routing card-not-present transactions, as well as guidelines for allowing newly-chartered fintechs direct access to the Fed's payment network.

/regulation

Fed seeks public comment on requests for accounts and payment services

The Federal Reserve Board on Wednesday invited public comment on proposed guidelines to evaluate requests for accounts and payment services at Federal Reserve Banks ("Account Access Guidelines").

/identity

Fed defines synthetic identity fraud

Synthetic identity fraud is reported to be the fastest-growing type of financial crime (Off-site) in the United States, accounting for billions in losses annually.

/payments

Federal Reserve announces ISO 20022 specifications for initial launch of FedNow

The Federal Reserve has released message specifications for the initial launch of its FedNow Service for instant payments based on the standard set by the International Organization for Standardization, or ISO.

/regulation

Federal agencies seeks views on financial institutions' use of artificial intelligence

Five federal financial regulatory agencies are gathering insight on financial institutions' use of artificial intelligence (AI).

/payments

First Internet Bank joins FedNow Service pilot

First Internet Bank today announced its participation in a pilot program for the FedNow Service, the Federal Reserve’s instant payments network. This collaboration further evidences a commitment to digital banking and faster payments on the part of First Internet Bank, the nation’s first state chartered, FDIC-insured institution to operate entirely online.

/payments

Finastra joins FedNow pilot programme

Finastra announced that it has joined the Federal Reserve’s FedNow Pilot Program to support development, testing and adoption of the FedNow Service.

/payments

FedNow outlines approach to ISO 20022 specifications

The new year is off to a fast start for the FedNow Service.

Fed payments system knocked out

/payments

Fed payments system knocked out

US Federal Reserve systems used by financial institutions to execute payments went down for several hours on Wednesday.

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