Acronyms are so frequently used at the Federal Reserve that a conversation or email can start to seem like reciting the alphabet. In today’s fast-paced society, though, it can help to pause and make sure everyone knows what these acronyms mean. You might be surprised to find that most people don’t know something you thought was common knowledge.
Below are some of the more commonly used acronyms at the Fed and in the financial services industry. How many do you know?
- ACAP – Fedwire® Securities Automated Claim Adjustment Process
- ACH – Automated Clearing House
- AMI – Account Management Information
- B2B – Business to Business
- BOG – Federal Reserve Board of Governors (Off-site)
- EUAC – End User Authorization Contact
- FOMC – Federal Open Market Committee (Off-site)
- GSE – Government Sponsored Enterprises
- ISO® – International Organization for Standardization (Off-site)
- Nacha – National Automated Clearing House Association (Off-site)
- SRAP – FedLine® Solutions Security and Resiliency Assurance Program
- Swift – Society for Worldwide Interbank Financial Telecommunication (Off-site)
Action Item:
Learn more Fed acronyms in this Glossary of Acronyms and Definitions in the Business Banking Toolbox.
