November 2026: On the Wire – Newsletter
Under construction: ISO® 20022, Sagrada Familia and the November 2027 release
Onstage at Sibos this year, our head of ISO 20022 practice, Frank Van Driessche, likened the rollout of ISO 20022 to one of history’s architectural masterpieces: Sagrada Familia. This Spanish basilica has been under construction for over a century; it features an innovative, complex design and intricately carved facades, with each stage of work adding refinement and strength.
Much of the same can be said about ISO 20022. Following the 2025 implementation of ISO 20022 for the Fedwire® Funds Service, our November 2027 release will improve upon data structuring, paving the way for ISO 20022’s rich data to help engineer a long-lasting, beautiful framework for our global payments ecosystem. Read on to learn what’s in scope for this next stage.
Scope of the November 2027 release
The following changes will go into effect on Nov. 22, 2027, in tandem with the CHIPS® and Swift® networks to ensure continued interoperability.
What’s carrying over?
With the exception of the removal of unstructured address formatting (see article below for details), all changes initially planned for November 2026 will be incorporated in the November 2027 release.
What’s new?
A limited number of additional changes will also be included, such as a base message upgrade for a subset of payment messages, introduction of the hybrid postal address format for parties/agents, new network validation rules for camt.110/111 investigation messages, and other enhancements (e.g., optional Forwarding Agent for drawdown messages).
How can I learn more?
The newly available Fedwire Funds Service ISO 20022 November 2027 release scope and impact assessment (PDF) provides a high-level overview of the planned changes for the November 2027 Fedwire Funds Service ISO 20022 implementation, including industry drivers, assessment of impact, affected messages and elements, and change type.
Additionally, the full November 2027 format specifications are expected to become available via Swift’s MyStandards® platform later this month. Sample messages will be provided by the end of 2026.
Testing requirements reminder
The testing requirements established for the November 2026 release remain in place for the November 2027 release, meaning that the mandatory testing group will still be required to participate in at least two peer-to-peer testing sessions in the second Depository Institution Testing (DIT2) environment (please refer to the 2027 test schedule). We highly recommend that all customers, service providers and software vendors plan ahead and prepare to complete testing to ensure readiness. Test request forms for 2027 peer-to-peer testing will be available in June 2027.
Upcoming drop-in session
Register now for the drop-in session scheduled for Wednesday, Nov. 18 from 2-3 p.m. ET.
- Learn more about the November 2027 release and how to prepare
- Get your questions answered during the session’s Q&A portion
Additional drop-in sessions are planned for 2027, and more information will be provided when available.
Coming next year: More resources for the November 2027 release
To help your institution prepare for the November 2027 release, we plan to offer the following next year:
- An on-demand webinar covering the scope of the November 2027 release, which allows you to revisit our presenters’ insights again and again
- Updated preparedness checklists, customized by customer type to provide as much detail as possible
- A more frequent publishing cadence for On the Wire to ensure you regularly receive timely updates and important information
- Additional drop-in sessions, which will give your institution more opportunities to ask questions to our subject matter experts
Looking ahead: Planning beyond 2027
In the coming years, FRFS will look to balance regular ISO 20022 upgrades with other important initiatives. Currently, there are no ISO 20022 releases planned for the Fedwire Funds Service in 2028, with the intent of providing your institution bandwidth to prepare for other enhancements, such as the expansion of operating days for the Fedwire Funds Service and National Settlement Service (NSS) to six days a week, Sunday-Friday, including holidays. We will provide more information about implementation timing as it becomes available. Please visit the Fedwire Funds/NSS Expanded Days resource page for more details.
FedPayments® Manager – Funds application: Verification option updates to proceed as scheduled
Effective Nov. 16, you will see updated verification screens in the FedPayments Manager – Funds application for the FedLine Advantage® Solution. Before Nov. 16, please review the available training materials by logging in to the FedPayments Manager – Funds application and selecting the “Help” link. Each PDF under the “November 2026 Release” heading contains a “Document Change History” section on the last page; review this section to get familiar with what is changing.
More information
Please contact our dedicated team of experts to assist you with any questions related to the Fedwire Funds Service. Be sure to bookmark the Fedwire Funds Service ISO 20022 Implementation Center to access the latest information (e.g., view on-demand webinars, register for live events).
The Federal Reserve Financial Services logo, “Fedwire,” “Wired to Deliver,” “FedLine Advantage” and “FedPayments” are service marks of the Federal Reserve Banks. A list of marks related to financial services products that are offered to financial institutions by the Federal Reserve Banks is available at FRBservices.org/terms-of-use.
“ISO” is a registered service mark of the International Organization for Standardization. “MyStandards” and “SWIFT” are registered trademarks of S.W.I.F.T. SC.
“CHIPS” is a registered service mark of The Clearing House Payments Company L.L.C.