Payments

Fed Seeks Feedback on Its Role in Faster Payments Settlement

The Federal Reserve System today issued a request for comments on potential Fed actions to accelerate interbank settlement of faster payments, including the idea of the Fed banks developing a 24/7/365 real-time settlement service and a liquidity management tool to support this service.

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Fed Approves ABA-Supported Changes to Reg CC

As part of its ongoing effort to update Regulation CC to reflect a payments system that is largely electronic, the Federal Reserve today approved changes to Reg CC’s liability provisions to address situations involving a dispute about whether portions of an electronic check have been altered or whether the item is a forgery.

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