Fedwire® Funds Service and National Settlement Service Operating Hours
As stated in the Federal Reserve Banks’ Operating Circular 6, and Operating Circular 12, the Federal Reserve Banks set operating hours for the Fedwire Funds Service and National Settlement Service and hours during which the FedPayments Manager – Funds and FedPayments Manager – NSS applications are available. The operating hours for the Fedwire Funds Service and National Settlement Service and the hours of availability for the FedPayments Manager – Funds and FedPayments Manager – NSS applications are stated below. For information on requesting an extension to the operating hours for the Fedwire Funds Service and National Settlement Service, review the Extension Guidelines for these services.
For more information about the Fedwire Funds Service, National Settlement Service or FedPayments Manager, visit the service offerings pages or contact your relationship manager.
Fedwire Funds Service Schedule
For the Fedwire Funds Service, the Federal Reserve Banks observe the following holidays: all Saturdays, all Sundays and the holidays listed on the Federal Reserve Banks’ Holiday Schedules. Each calendar day that is not a holiday observed by the Federal Reserve Banks is a funds-transfer business day. The funds-transfer business day for each of the Federal Reserve Banks begins at 9:00 p.m. ET on the preceding calendar day (including if that preceding calendar day is a holiday observed by the Federal Reserve Banks) and ends at 7:00 p.m. ET. For example, on a Sunday preceding a Monday funds-transfer business day, the Fedwire Funds Service will open at 9:00 p.m. ET on Sunday for the Monday funds-transfer business day.
Processing Times
The Fedwire Funds Service begins processing online nonvalue messages (e.g., return request, report request, connection check) sent using the FedLine Direct® Solution and the FedPayments Manager application through the FedLine Advantage® Solution at 8:35 p.m. ET on the calendar day preceding a funds-transfer business day. All online value messages begin processing when the Fedwire Funds Service opens at 9:00 p.m. ET on the preceding calendar day. The Fedwire Funds Service stops processing online messages at the cutoff times shown below and closes at 7:00 p.m. ET.1
| Cutoff Time | Messages Sent by Fedwire Senders | Message | Local Instrument |
|---|---|---|---|
| 5:00 p.m. ET Tax Payments2 | All messages sent to Treasury tax payment routing number 091036164 | All | All |
| 5:00 p.m.ET Special Accounts3 | Special account customer transfer | pacs.008 | CTRS |
| Special account bank transfer | pacs.009 | BTRS | |
| Special account cover payment | pacs.009 | COVS | |
| Return of special account customer and bank transfer, or cover payment | pacs.004 | CTRS, BTRS, COVS | |
| 6:45 p.m. ET Customer Transfers4 | Core customer transfer | pacs.008 | CTRC |
| Customer drawdown request | pain.013 | DRRC | |
| Customer drawdown transfer | pacs.008 | CTRD | |
| Return of a core customer transfer, customer drawdown transfer | pacs.004 | CTRC, CTRD | |
| 7:00 p.m. ET Bank Transfers & Other Messages5 | Core bank transfer | pacs.009 | BTRC |
| Core cover payment | pacs.009 | COVC | |
| Bank drawdown request | pain.013 | DRRB | |
| Bank drawdown transfer | pacs.009 | BTRD | |
| Return of a core bank transfer, bank drawdown transfer, core cover payment | pacs.004 | BTRC, BTRD, COVC | |
| Payments Status Request (on previously sent drawdown requests) | pacs.028 | N/A | |
| Drawdown response | pain.014 | N/A | |
| Return request | camt.056 | N/A | |
| Return request response | camt.029 | N/A | |
| Investigation request | camt.110 | N/A | |
| Investigation response | camt.111 | N/A | |
| Message reject | admi.002 | N/A | |
| 7:15 p.m. ET Other Message6 | Payments Status Request (on previously sent value messages) | pacs.028 | N/A |
| Account reporting request | camt.060 | N/A | |
| Retrieval request | admi.006 | N/A |
As permitted under Operating Circular 6, the Federal Reserve Banks may extend a cutoff time or funds-transfer business day to facilitate special market needs.
Schedule for Queuing Online Messages
This table states the times at which Fedwire Funds Service participants may queue online messages for release to the Fedwire Funds Service when it begins processing online messages at the start of the next funds-transfer business day. The Federal Reserve Banks may modify the times at which Fedwire Funds Service participants may queue messages, including in the event of an extension of a funds-transfer business day. Special rules apply when the close of the Fedwire Funds Service falls on a Friday.7
| Messages | Times |
|---|---|
| Fedwire Funds Service participants may queue online messages through the FedLine Direct Solution |
|
| Fedwire Funds Service participants may queue online messages using the FedPayments Manager application through the FedLine Advantage Solution |
|
| FedLine Solution used to queue messages | Next funds-transfer business day | Times at which Fedwire Funds Service participants may queue online messages after the close of the Fedwire Funds Service on Friday |
|---|---|---|
| FedLine Direct | Monday |
|
| FedLine Direct | Tuesday |
|
| FedLine Advantage | Monday |
|
| FedLine Advantage | Tuesday |
|
National Settlement Service Schedule
For the National Settlement Service, the Federal Reserve Banks observe the following holidays: all Saturdays, all Sundays and the holidays listed on the Federal Reserve Banks’ Holiday Schedules. Each calendar day that is not a holiday observed by the Federal Reserve Banks is a settlement day. As permitted under Operating Circular 12, a processing Federal Reserve Bank may extend the hours of a settlement window.
Settlement Window Schedule
| Settlement Window | Times |
|---|---|
| Opening of the file submission window | 7:15 p.m. ET on the preceding calendar day8 |
| Opening of the file processing window | 9 p.m. ET on the preceding calendar day |
| Closing of the file submission window | 6:30 p.m. ET |
| Closing of the file processing window | 6:30 p.m. ET |
Hours of Availability for FedPayments Manager
The Federal Reserve Banks make the FedPayments Manager application for the following services available during the hours below. If there is an extension of the operating hours of one of the services, the hours of availability for the FedPayments Manager application for that service also may be extended. The extension also may affect the reopening of the FedPayments Manager application.
| Service | Opening of FedPayments Manager | Closing of FedPayments Manager |
|---|---|---|
| Fedwire Funds Service | 7:45 p.m. ET on each calendar day that precedes a funds-transfer business day | Close of the Fedwire Funds Service for the funds-transfer business day9 |
| National Settlement Service | 7:15 p.m. ET on each calendar day that precedes a settlement day10 | Close of the National Settlement Service for the settlement day11 |
Footnotes
- The Federal Reserve Banks may close the Fedwire Funds Service after 7:00 p.m. ET if the Fedwire Funds Service is continuing to process online messages received by the applicable cutoff time. ↩︎
- The cutoff times and closing time of the Fedwire Funds Service for online messages are inclusive of the minute listed, including if the Federal Reserve Banks extend a cutoff time or the closing time of the Fedwire Funds Service. For example, the cutoff time for pacs.009 BTRC messages is one second before 7:01 p.m. ET; therefore, an pacs.009 BTRC message received at 7:01 p.m. ET will be rejected unless that cutoff time has been extended. ↩︎
- See footnote 2 ↩︎
- See footnote 2 ↩︎
- See footnote 2 ↩︎
- See footnote 2 ↩︎
- After the close of the Fedwire Funds Service on a Friday, the times at which Fedwire Funds Service participants may queue online messages for the next funds-transfer business day depend on the FedLine Solution used to queue such online messages and whether the next funds-transfer business day is a Monday or a Tuesday following a Monday holiday. ↩︎
- If the preceding calendar day is a holiday observed by the Federal Reserve Banks, the file submission window opens at 5:30 p.m. ET. ↩︎
- Fedwire Funds Service participants can continue to access the FedPayments Manager application for the Fedwire Funds Service between the close of the Fedwire Funds Service and 7:15 p.m. ET that same day. During this time, Fedwire Funds Service participants may queue online messages for release to the Fedwire Funds Service for processing at the start of the next funds-transfer business day in accordance with the schedule for processing online messages shown above. ↩︎
- If the preceding calendar day is a holiday observed by the Federal Reserve Banks, the FedPayments Manager application for the National Settlement Service opens at 5:30 p.m. ET. ↩︎
- Settlement agents can continue to access the FedPayments Manager application for the National Settlement Service until 6:47 p.m. ET that same day. Unless there are extensions of the National Settlement Service and the hours of availability of the FedPayments Manager application, any settlement files entered into the FedPayments Manager application after 6:30 p.m. ET will not be released to the National Settlement Service for processing and will be deleted from the FedPayments Manager application before it reopens. ↩︎