Fedwire® Funds Service Upcoming Releases
After careful consideration, Federal Reserve Financial Services has decided to reschedule the Fedwire Funds Service release from November 2026 to November 2027. More details about the scope of the release will be shared this fall.
Testing requirements
Given the large number of customers, service providers and software vendors we need to support for ISO 20022 testing ahead of the November 2027 release, we developed the following testing requirements using a risk-based approach. Please contact our Wholesale Testing Services with any questions.
Mandatory testing groups
The following groups will be required to complete testing as specified in the DIT2 testing section. All other customers, service providers and software vendors are highly recommended to complete testing. Your organization will be notified if it has been included by Federal Reserve Financial Services (FRFS) in one of these mandatory testing groups.
- High-volume FedLine Direct® service providers (approximately 1,000 outgoing messages on average per day)
- Significant FedLine Direct software vendors
- FRFS National Account Financial Institutions/members of the Payments Risk Committee
- Bankers’ Banks/Corporate Credit Unions (in-house payment application build)
- Designated Financial Market Utilities (DFMUs)
- High-volume FedLine Advantage import/upload users (100 outgoing messages on average per day)
DIT2 testing
Mandatory testing groups will be required to participate in at least two peer testing days coordinated by FRFS and to submit an attestation after they complete testing. Visit the Peer-to-Peer Request Form and Test Schedule page to review the testing days for 2027.
MyStandards Readiness Portal testing (recommended)
The MyStandards Readiness Portal is available 24 hours a day, seven days a week, and allows you to self-test your ISO 20022 messages against the November 2027 release schema/usage guidelines. This is planned to become available this fall. Please mask your data when testing in this portal.
Saturday Production testing (recommended)
Two Saturdays will be available for testing in the production environment prior to the November 2027 release. While not required, we recommend that you take advantage of this testing opportunity to coordinate peer testing with counterparties leading up to the implementation weekend. If you plan to participate in production testing, you must register 10 business days in advance of the designated Saturday you plan to test (dates to be provided this fall).