Fed to Remove Caps on Coin Distribution
The Federal Reserve has announced that it will return to regular coin distribution for all coin denominations beginning on Jan. 15.
Browsing: Payments system
Brooks: OCC Continuing Effort to Clarify Regulatory Treatment of Stablecoins
The OCC is continuing its efforts, working with other agencies, to facilitate banks’ ability to engage with digital currencies, Acting Comptroller Brian Brooks said during a press event this morning.
ABA, Financial Groups Oppose Proposed Payments Charter Changes by OCC
ABA and six other financial trade groups today said they “oppose the OCC’s effort to grant commercial companies like Amazon or Facebook a national payments charter to access the Federal Reserve payments system and safety net.”
BAFT Appoints New Chairman of Transaction Banking Global Leaders Group
BAFT, ABA’s global transaction banking subsidiary, announced today that Jose Luis Calderon has been appointed the new chairman of its Transaction Banking Global Leaders group.
Fed Amends Implementation Date for Changes to Facilitate Same-Day ACH
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.
Coin Task Force Publishes New Resources to Address Coin Circulation Issues
With the COVID-19 pandemic disrupting the circulation of coins nationwide, the U.S. Coin Task Force—of which the American Bankers Association is a member—has published new resources for retailers, financial institutions and armored carriers to use to help encourage circulation.
ABA: FedNow Should Be ‘Bank-Centric,’ Interoperable
In a letter today, American Bankers Association offered several recommendations for the Federal Reserve to consider as it continues to develop its FedNow service.
TCH: RTP Network Reaches More than Half of DDAs in the US
The Clearing House announced today that financial institutions holding 70% of demand deposit accounts now have access to real-time payments capabilities through their technology providers that have connected to the RTP Network.
Survey: Businesses Prioritize Real-Time Payments Access
In a new survey from Providence, Rhode Island-based Citizens Financial Group, business leaders said that a bank’s ability to provide access to real-time payment and settlement services was the second-most-important factor when choosing a banking partner, after a bank’s ability to provide solutions throughout the business life cycle.
Fed Announces Details of FedNow Service
The Federal Reserve today released more details about its forthcoming FedNow service to provide real-time payments settlement and clearing, including phased elements of the FedNow service.