The American Bankers Association today expressed opposition to several proposed changes to the Federal Reserve’s payment system risk policy.
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The American Bankers Association last week urged NACHA not to change rules around financial institutions offering early funds availability due to the lack of statistical evidence, despite anecdotal stories of the practice increasing liabilities.
The Federal Reserve today proposed to create a new subpart of Regulation J that would provide a “comprehensive set of rules” to govern funds transfers made through FedNow, the real-time payments network the Fed is developing.
The Federal Reserve today asked for comments on proposed changes to its payments system risk policy that would expand access to collateralized intraday credit from the Federal Reserve Banks.
The Clearing House, Jack Henry, FIS and Fiserv announced today that they will cover the cost for minority-owned depository institutions to join the RTP network.
The streamlined instant payment experience is expected to benefit consumers, businesses.
A total of 26.8 billion payments were made on the ACH Network in 2020—up 8.2% from a year prior—with a record of more than 2 billion new payments added, according to new figures released by NACHA today.
The Federal Reserve yesterday said that its FedNow service will be ready to launch in 2023. The Fed previously indicated that the service would be ready sometime in 2023 or 2024.
As corporate treasurers pivot in response to the coronavirus pandemic, nearly half of them on net are planning to diversify their debt and capital structures, according to a new survey released today from TD Bank and Strategic Treasurer.
The Federal Reserve today said it would change the implementation date for modifications to the Federal Reserve Banks’ payment services to facilitate adoption of a third same-day ACH processing and settlement window and for corresponding changes to the Fed’s Policy on Payment System Risk.