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National Settlement Service Setup

Thank you for choosing the National Settlement Service (NSS). We have knowledgeable staff readily available to help make this a smooth transition for your organization. Following are the steps you will need to take to streamline your implementation process, including contacts to help you with questions at any step along the way.

Step 1 - Select Service Options

To help you determine what service features are right for your institution, visit the service offerings page for the National Settlement Service. If you need further advice about specific service features, consult your account executive.

Step 2 - Assess Access Needs

Once you've determined your service needs, you can determine which access solution your organization will need to use.

Step 3 - Review Rules and Regulations

Prior to using the National Settlement Service, your organization must review and agree to all the provisions set forth in Operating Circular 12. This Operating Circular establishes the terms under which the Federal Reserve Banks provide settlement services to the settlers in a settlement arrangement solely for the purpose of settling the balances arising from the clearing activities of the settlement arrangement.

Step 4 - Complete Forms/Agreements

Before using the National Settlement Service, your institution will need to submit the following forms, as appropriate. If you do not have a Master Account, please visit Accounting Services Setup. If you have questions about the forms below, please contact the Operations Sites.

Step 5 - Schedule Testing and Production Date

The Federal Reserve Banks will work with you to establish a testing schedule. Testing requirements will vary based on the products you have selected. For more information, review the testing opportunities or contact the Central Service Support Staff at (800) 758-9403.

Once testing has been successfully completed, a production cutover date will be scheduled. On the cutover date, you should be ready to use the services to which you've subscribed.

Step 6 - Congratulations! You can now begin using the National Settlement Service

The following links provide you even more education and information to ensure you are using the National Settlement Service to its fullest potential.

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