November 2027 Release Frequently Asked Questions
November 2027 Release
1. What is the timing of the new release?
FRFS has rescheduled its Fedwire Funds release to November 2027. We will maintain ongoing collaboration with key peer market infrastructures, such as Swift and CHIPS, to support a seamless industry-wide implementation. The exact implementation date will be announced in the fall.
2. When will the November 2027 scope and format specifications be available on MyStandards?
To provide sufficient time to review and prepare for the November 2027 release, we intend to publish the final usage guidelines (including the Fedwire Funds Service ISO 20022 Implementation Guide) on MyStandards in November 2026.
3. What should my organization do to prepare?
We encourage you to share this announcement with your operational and technical staff, along with your software vendor or processor (if applicable) and to continue preparing for the removal of the unstructured postal address format.
4. Will there be drop-in calls to help us learn about the changes?
We anticipate hosting drop-in calls once the scope of the November 2027 release is finalized. Dates and times will be made available on the Federal Reserve Bank Webinars page.
5. When can we start testing the November 2027 release in the DIT2 environment?
FRFS intends to provide sufficient time for customers and vendors to prepare for the November 2027 release. We will announce the DIT2 environment availability in the fall.
6. Will the FRFS retain DIT2 peer-to-peer testing requirement?
FRFS intends to retain the DIT2 peer-to-peer testing requirement and have published proposed testing dates for planning purposes at this time. These testing dates are subject to change.
7. When will the DIT2 peer-to-peer testing registration open?
The test request forms to register for DIT2 peer-to-peer testing will be available in June 2027.
8. Can we start sending messages with the hybrid postal address format before the November 2027 release for all message types?
From now until the November 2027 release is implemented, the Fedwire Funds Service will only support unstructured and structured postal address formats for key parties/agents (e.g., Debtor, Creditor, Creditor Agent, Debtor Agent). We strongly encourage customers to start sending in the structured postal address format.
When the November 2027 release is implemented, the hybrid postal address format will be supported by the Fedwire Funds Service for key parties/agents.
9. Instead of providing the full postal address (e.g., for creditor’s postal address), can we provide just the Town Name and Country?
We recommend that you consult with your compliance and legal departments on what information (e.g., creditor’s postal address) you may need to include in messages to satisfy your compliance obligations. A Fedwire sender should also check with the Fedwire receiver and any other bank that may process the transfer to understand additional requirements that they may have to ensure straight-through processing (e.g., creditor’s postal address in addition to the creditor’s name).