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- Home - Fedwire Services - November 2009 Fedwire Funds Format Changes for Cover Payments
November 2009 Fedwire® Funds Format Changes for Cover Payments
Effective November 21, 2009, the Federal Reserve Banks plan to implement changes to the Fedwire Funds Service customer transfer (CTR) message to support a market convention for settling cover payments via the Fedwire Funds Service. These changes are being made to improve the transparency of underlying customer details related to cover payments.
To help customers prepare for the upcoming changes, the Federal Reserve Banks will provide ongoing updates and information.
Background Information
- Review the Payments Market Practice Group (PMPG) Guidelines for use of the MT 202 COV (PDF)
- Read the May 13, 2008 Announcement on Support for New Formats (PDF)
- Read the August 2008 FedFocus Article on Planned Format Changes (PDF)
- Read the October 20, 2008 Announcement on Specifications for New Cover Payments Message Format (PDF)
Format Specifications
- Review a list of Frequently Asked Questions with General Information Regarding the 2009 Format Changes (Updated 08/21/09) (PDF)
- Review the Fedwire Funds Format Reference Card, Effective November 21, 2009
- Review the Mapping Table - SWIFT MT202 COV to Fedwire CTRCOV (Updated 12/19/08) (PDF)
Testing and Certification
- Review a List of Frequently Asked Questions on Testing and Certification (Updated 08/05/09) (PDF)
- Review Testing Hours and Schedule a Test
Information Sessions
In February and March 2009, the Federal Reserve Banks hosted in-person and online information sessions covering the November 2009 Fedwire Funds Service message format changes and the market convention for cover payments. These sessions have now concluded. Please contact your institution’s designated Customer Contact Center to request a copy of the documents presented.
- Customers in the Atlanta, Boston, Chicago, Kansas City, New York or Philadelphia districts, please call 800-333-2690
- Customers in the Cleveland, Dallas, Minneapolis, Richmond, San Francisco or St. Louis districts, please call 888-333-7010
Additional Information
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