E-News 5-10-24
FEDERAL GOVERNMENT RELATIONS
Fed Proposes Expanding Operating Times of Fedwire, NSS to Weekends, Holidays
The Federal Reserve is proposing to expand the operations of the Fedwire Funds Service and the National Settlement Service to include weekends and holidays so both would be available every day of the year. Currently, both payments services operate Monday through Friday, excluding holidays. In its announcement, the Fed said that expanding the times of operation of both would “support the safety and efficiency of the U.S. payment system and help to position the nation's payment and...