Browsing: Payments system

Payments

In a move supported by ABA, the Federal Reserve today finalized new operating hours and procedures for the National Settlement Service and Fedwire Funds Service to facilitate adoption of a third same-day ACH processing and settlement window.

Policy

Next year, the FSB expects to tackle fintech developments worldwide, including the growing role of big tech firms in finance; the development of so-called “stablecoins,” virtual currencies pegged to real assets to minimize volatility; innovation to remove friction in cross-border payments; and the transition away from the London Interbank Offered Rate to new benchmarks.

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