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Fedwire Funds Format Changes for Remittance Information and Other Changes

The Federal Reserve Banks will be implementing a new message format to support extended character business remittance information, improved cover payments and better alignment to SWIFT. Several additional minor changes will also be implemented.  The Federal Reserve Banks are targeting an implementation date near the end of 2010 for these changes. While the exact implementation date has not yet been announced, it will be no earlier than November 2010.

To help customers prepare for the upcoming changes, the Federal Reserve Banks will provide ongoing updates and information.

Background Information

  1. Read the 2006 research study on Business to Business Wire Payments (PDF)
  2. Review the 2008 Fedwire Message Format Survey Results
  3. Read the May 13, 2008 Announcement on Support for New Formats (PDF)
  4. Read “Moving Forward with B2B Wire Transfers: How Banks Can Create Value for their Corporate Clients” (PDF) (c) Henry Stewart Publications, first published in Journal of Payments Strategy & Systems

Format Specifications

  1. Review a list of Frequently Asked Questions and General Information (Updated 10/14/09)(PDF)
  2. Review the Mapping Table – Fedwire Business Remittance Information Mapped to ISO20022 and STP 820 (Updated 10/28/09)(xls)
  3. Review the Fedwire Funds Format Reference Card, Effective No Earlier than November 2010 (Updated 12/11/09)(PDF)

Testing and Certification

The Federal Reserve Banks are targeting early 2010 to make these format changes available in Reserve Banks’ Depository Institution Test (DIT) environment.  The testing schedule and certification requirements will be announced at a later date and posted on this information page.

Information Sessions

The Federal Reserve Banks will host a series of in-person and online information sessions in 2010.  Dates, locations and registration instructions will be announced at a later date and posted on this information page.

Additional Information

  • For a list of contacts for your institution, visit Contact Us
  • To stay informed about upcoming developments from the Federal Reserve Banks related to the new business remittance information message format, please submit your information here.

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