Fedwire® Funds Services ISO 20022 Implementation Frequently Asked Questions (revised as of October 2021)

ISO 20022 Overview

Fedwire Funds Service ISO 20022 Implementation

Format Documentation

Software Vendor Information

Testing Strategy

Education and Training

Additional Questions

ISO 20022 Federal Register Notice (October 2021)

Background

On October 4, 2021, the Board of Governors of the Federal Reserve System (Board) issued a press release (Off-site) for the publication of a Federal Register notice (Notice) (Off-site) announcing that the Federal Reserve Banks will adopt the ISO 20022 message format for the Fedwire Funds Service. The Board is also seeking input through the Notice on a revised plan for migrating the Fedwire Funds Service to the ISO 20022 message format. Specifically, the Board is proposing a single-day implementation to fully enhanced ISO 20022 messages. This migration is targeted for, and would be no earlier than, November 2023.

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