Paused: ACAP Phase 2 implementation will not occur on Oct. 6
September 3, 2025
What’s happening?
The Fedwire® Securities Service Automated Claim Adjustment Process (ACAP) Phase 2 functionality will not go live on Oct. 6 as previously communicated. Customer testing of the expanded ACAP functionality in the Depository Institution Testing (DIT) environment will pause until further notice. Phase 2 includes the expansion of ACAP fail tracking to all coupon-paying securities issued over the Fedwire Securities Service and the addition of securities lending as a transaction type.Why are the Federal Reserve Banks pausing Phase 2 of the ACAP enhancement project?
An industry workgroup headed by the Securities Industry and Financial Markets Association (SIFMA) has requested more time to prepare for the expanded functionality.
What do I need to do?
If you are currently testing or planned to start testing Phase 2 functionality in the DIT environment, pause testing and preparations until further communication.
What’s next?
Federal Reserve Financial Services (FRFS) is evaluating next steps and will provide further communication when a decision is made regarding Phase 2 implementation.
More information about the ACAP enhancement project, previous communications, the project timeline and customer testing details can be found on the ACAP Resources and Implementation Center.