Federal Reserve Financial Services’ (FRFS) plans for 2024 reflect our continued strategic focus of providing customers with a fully integrated product suite that offers speed, resilience and choice. We are laser-focused on our mission of delivering a trusted and contemporary payment system that works for everyone.
Today, consumers and businesses can easily track purchases and monitor goods as they progress through the supply chain toward eventual delivery. In pursuit of similar digitalization, the Federal Reserve is working with the industry to bring cash supply chain logistics up to speed with the FedCash E-Manifest Service.
Two Federal Reserve Financial Services reports can provide your organization with powerful strategic understanding of your data. The FedPayments® Insights Service allows you to compare your FedACH Services activity to prior years across all your ABAs, easily review daily and historical trends and interact with your ACH data in a dynamic way. The information can be viewed as charts and graphs to assist with understanding trends in a visual manner.
Autumn is prime time for payments industry conferences. Experts from the Federal Reserve System and Federal Reserve Financial Services (FRFS) had a full schedule of learning, listening and networking this September and October. Here are highlights of the Fed’s presence at four key events this fall.
Federal Reserve Banks, as operators of the Fedwire Funds Service, have published a response to the Financial Stability Board (FSB) survey of Financial Market Infrastructures (FMIs) on continuity of access for firms in resolution. The purpose of the FSB survey is to promote transparency by FMIs about access for firms in resolution and assist FMI participants and resolution authorities in developing resolution plans.
Federal Reserve Financial Services will implement a year-end freeze period for production Check Services changes. The freeze period will run from December 22, 2023 through January 3, 2024. This is our normal year-end freeze period to support year-end activities and 2024 changes.
As a reminder, Federal Reserve Financial Services’ preferred method to process account confirmations is through Thomson Reuters Confirmation (Off-site). This secure digital platform is used to electronically request fast and secure audit confirmations for: