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May 26, 2023
On the web
XRP Acknowledged by Atlanta Fed Reserve Bank for International Payments
TronWeekly
On the wires
Federal Reserve Surveys: U.S. Businesses, Consumers Want Faster Payment Options to Help Navigate Evolving Needs
Business Wire
May 19, 2023
On the web
New York Fed and Monetary Authority of Singapore Publish Results of Joint Wholesale Cross-Border Payments Research Study
New York Fed
May 12, 2023
On the web
FedNowSM Service Illustration Video
FedNow
May 4, 2023
On the web
FedNowSM Service Technical Overview and Planning Guide
FedNowSM
April 28, 2023
On the web
Federal Reserve Board Announces the Results From the Review of the Supervision and Regulation of Silicon Valley Bank, Led by Vice Chair for Supervision Barr
Board of Governors of the Federal Reserve System
April 24, 2023
On the web
Payments Study Reports Unprecedented Growth in ACH Payments Value
Federal Reserve Bank of Atlanta

April 21, 2023
On the web
The Federal Reserve Payments Study: 2022 Triennial Initial Data Release
Federal Reserve
April 6, 2023
On the web
Fighting First-Party Fraud
Federal Reserve Bank of Atlanta
The Fed is Restructuring the US Payments Ecosystem with the FedNow Service – What FIs Need to Know
Tearsheet
March 20, 2023
On the web
The Ransomware Battleground in 2022
Federal Reserve Bank of Atlanta
March 16, 2023
On the web
Federal Reserve Announces July Launch for the FedNow Service
Board of Governors of the Federal Reserve System
March 15, 2023
On the web
The Federal Reserve Announces July Launch for the FedNowSM Service
FedNow
Tassat Blockchain to Join FedNow Service with B2B On-Ramp as Pilot Prepares for Launch
Cointelegraph
January 30, 2023
On the web
Federal Reserve Board Announces Denial of Application by Custodia Bank, Inc. to Become a Member of the Federal Reserve System
Board of Governors of the Federal Reserve System
January 20, 2023
On the web
Who Pays For Your Rewards? Redistribution in the Credit Card Market
Federal Reserve
January 17, 2023
On the web
Money and Payments: The U.S. Dollar in the Age of Digital Transformation
Federal Reserve
January 9, 2023
On the web
Open Banking's Slow March Advances
Atlanta Fed
December 23, 2022
On the web
Boston Fed, MIT Complete Research Project into Feasibility of a Central Bank Digital Currency
Federal Reserve Bank of Boston
“A joint research effort between the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology into the technical feasibility of a potential central bank digital currency is now complete. The Boston Fed’s work on CBDC with MIT’s Digital Currency Initiative is known as Project Hamilton. Boston Fed Executive Vice President Jim Cunha said the now-concluded project was “agnostic” from the start about any future policy decisions regarding new technologies and U.S. currency.”
December 21, 2022
On the web
Why the Fed Needs to Take the Digital Yuan Seriously
Bloomberg
“If the Federal Reserve still wants proof of China’s intention to challenge the dollar’s hegemony, it should look no further than a small experiment currently under way in Hong Kong. Last week, Bank of China (Hong Kong), one of the city’s big deposit-taking institutions, had its offer of 500 trial accounts tied to the e-CNY, the electronic version of official Chinese money, snapped up in two days. The customers are each being gifted 100 yuan in digital form, which they can spend at mainland stores, the JD.com website or a supermarket chain in Hong Kong. (Subscription required)”
December 8, 2022
On the web
Industry Working Group to Establish Principles for FedNowSM Service Request for Payment Solutions
FedNow
“In preparation for the mid-2023 FedNow Service launch, the Federal Reserve has formed an industry working group to establish voluntary principles for a consistent end-customer experience for solutions leveraging FedNow Service request for payment (RFP) functionality, and to consider other practices or standards that may be useful to encourage broad adoption of RFP functionality across the industry. RFP will be one of the key features of the FedNow Service. It will allow financial institutions and service providers to build bill pay solutions that can help consumers and businesses conveniently send invoices, receive instant bill payments and better manage cash flow. The working group, composed of nearly 100 FedNow Community members (PDF) , will meet monthly between Q4 2022 and the second half of 2023 to outline recommended payer and payee experiences for business and consumers, and provide input on practices for the Federal Reserve to consider. The working group will also produce an “RFP Customer Experience” document that will be publicly available.”
November 28, 2022
On the web
Real-Time Payments In U.S. Marks Fifth Year — FedNow Coming In July
“To mark the fifth anniversary of real-time payments in the U.S. The Clearing House (TCH) and Jack Henry launched a flurry of statistics which cast a bit of an obscuring haze over the topic. TCH says its RTP network reaches 62% of all demand deposit accounts in the U.S. and 85% of insured depository institutions have technical access to the network through more than 20 technology solutions providers, including Jack Henry & Associates, FIS, Fiserv, COCC, Finastra and Shazam. The Clearing House is eager to show that it provides services for small banks and credit unions and isn’t just a network for the major banks.”
November 8, 2022
On the web
New York Fed Completes Pilot For Cross-border CBDC Transactions
Blockonomi
“Central banks around the world have made massive investments into CBDC’s research. The FED, despite lagging behind other peers in the race, has sharply ramped up efforts to issue its CBDC in recent times. The Federal Reserve Bank of New York has completed a successful pilot of the use of central bank digital currencies (CBDCs) for wholesale, cross-border transactions. The experiment, also known as Project Cedar: Phase One, aims to explore the capabilities of blockchain technology in payment delivery and the application of CBDC in wholesale payments. Conducted on separate blockchains to explore the capabilities of blockchain technology in delivering fast and safe payments for a lower settlement cost, the FED is now taking blockchain seriously.”
November 4, 2022
On the web
Federal Reserve Board Announces Pricing for Payment Services (FedNow)
frbservices
The Federal Reserve Board on Thursday announced pricing, effective January 3, 2023, for payment services the Federal Reserve Banks provide to depository institutions, such as the clearing of checks, ACH transactions, and wholesale payment and settlement services…The Board also announced the 2023 pricing for the FedNowSM Service, a real-time payments platform, which is targeted to launch between May and July next year. The pricing is substantially similar to the anticipated pricing announced on January 27, 2022.
October 4, 2022
On the web
Federal Reserve Board Finalizes Updates to the Board’s Rule Concerning Debit Card Transactions
Board of Governors of the Federal Reserve System
“The Federal Reserve Board on Monday finalized updates to the Board’s rule concerning debit card transactions. Pursuant to statute, the updates specify that debit card issuers should enable at least two payment card networks to process all debit card transactions, including “card-not-present” transactions, such as online payments. 1 The final rule is substantially similar to the proposal issued last year. By law, the Board is required to make rules ensuring that debit card issuers give merchants the opportunity to choose between at least two unaffiliated networks when routing debit card transactions. When the Board initially issued the rule in July 2011, the market had not developed solutions to broadly support multiple networks for card-not-present debit card transactions. Since that time, technology has evolved to address these barriers. However, some debit card issuers have not yet enabled at least two unaffiliated networks for merchants to choose between when routing such transactions. This issue has become increasingly pronounced because of continued growth in online payments.”
September 20, 2022
On the web
Federal Reserve Launches Service to Help Financial Institutions Track Trends for Payments Settled Through its FedACH® Service
FRB Services
“Federal Reserve Financial Services today launched the FedPayments® Insights Service, a business and analytics tool that generates reports on a financial institution’s payments settled through the FedACH Service to help the organization advance its business strategy and day-to-day ACH operations. “In recent years, ACH transactions have grown in both volume and total value,” said Keith Melton, senior vice president and head of product management, Federal Reserve Financial Services. “As a result, it’s more important than ever before for financial institutions to analyze their ACH payment trends to help inform operational, risk management and strategic decisions. The FedPayments Insights Service provides a comprehensive, easy-to-access view of an institution’s daily and historical FedACH activity, including government and commercial transactions.””
August 29, 2022
On the web
Federal Reserve Updates FedNow Service Timing to Mid-2023, Marks Beginning of Full-Scale Pilot Testing
EIN News
“The Federal Reserve Banks have narrowed the timing of the FedNow Service launch to mid-year 2023, specifically targeting a production rollout of the service in the May to July timeframe. This further defines the previously communicated 2023 launch window for the anticipated instant payments service and comes as the FedNow Pilot Program prepares to enter technical testing for the service starting in September. “Today, with the FedNow launch date in sight, we are pleased with the collaboration and dedication our pilot participants have brought to advance modern payments in America,” said Esther George, president and CEO of the Federal Reserve Bank of Kansas City and executive sponsor of the FedNow program. Currently, more than 120 organizations are participating in the FedNow Pilot Program. Recent newcomers include U.S. Bank, Exchange Bank, and several payment processors and solution providers, including Alacriti Payments LLC, ECS Fin Inc., Form3 and ModusBox, Inc.”
August 16, 2022
On the web
Federal Reserve Guidelines Crack Banking System Open to Crypto Banks
Axios
“The Federal Reserve Board on Monday announced final guidelines that could open up a path for institutions peddling new types of financial products, or those with novel charters, to tap into the banking system. Why it matters: The guidelines seek to clarify a longstanding question critical to the crypto industry — who is allowed to have a master account. Such accounts would allow crypto banks and fintech platforms to access the central bank’s rails (payments and services) without partnering with a traditional bank.”
August 11, 2022
On the web
New Participants Named to FedNowSM Pilot Program
Fednow
“The Federal Reserve today announced the addition of several organizations to the FedNow Service Pilot Program. The participants are joining more than 120 other organizations amid the program’s testing phase, which began earlier this year and will continue through the launch of the FedNow Service in 2023. The new pilot participants include the U.S. Department of the Treasury’s Bureau of the Fiscal Service, Exchange Bank, and several payment processors and solution providers, including Alacriti Payments LLC, ECS Fin Inc., Form3 and ModusBox, Inc.”
August 9, 2022
On the web
China’s Digital Yuan Pushes Key US Lawmakers to Seek Urgency From the Fed on a Digital Dollar That Fends Off Global Rivals
Markets Insider
“A bipartisan group of US lawmakers wants the Federal Reserve to get more serious about issuing a digital dollar to compete with rivals like China’s digital yuan. Democrat Rep. Maxine Waters has drafted legislation that aims for the Fed to further study the prospect of a digital dollar and design a route for it to come to fruition, The Wall Street Journal reported. It comes after Waters, who is chair of the House Financial Services Committee, called the area of central bank digital currencies “a new digital assets space race.” Another supporter of the digital-dollar effort, Republican Rep. French Hill, cited China’s creation of a digital yuan in 2020 as a concern, noting Beijing’s lending around the world could aid its adoption and threaten the dollar’s dominance.”
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