January 2024: On the Wire - ISO® 20022 Newsletter
FedPayments® Manager – Funds Education
Effective February 4, 2024, the Quick Reference Guides listed below will be posted on the FedLine® Training page. These guides will explain the features available in the FedPayments Manager – Funds application and highlight the changes that will be made to accommodate the Fedwire® Funds Service ISO® 20022 implementation.
- Access Levels
- Account Balance
- Activity Report
- Activity Summary
- Administration
- Application Audit Log
- Export Messages
- Import Message
- Incoming Messages
- Manually Create & Verify Messages (General Info.)
- Outgoing Messages
- Past Messages
- Processing Options
- Receiver Routing Numbers
- Templates
Customers using the FedPayments Manager – Funds application to send and receive messages will need to become familiar with the look and feel of new screens and ISO 20022 terminology. Work with your End User Authorization Contact to obtain access to the FedLine Training page.
In the coming months, additional Quick Reference Guides will be published on the FedLine Training page to cover the following topics:
- Manually Create Customer Transfers
- Manually Create Tax Payments
- Manually Create Bank Transfers
- Manually Create Returns
- Manually Create Drawdowns
- Manually Create Investigation
Are your vendors ready for the Fedwire Funds Service ISO 20022 implementation on March 10, 2025?
Last fall, we conducted a survey with our known FedLine Direct® vendor community (i.e., service providers and software providers) to assess their testing readiness. About 70% of the vendors with existing Fedwire Funds Services customers indicated they will be able to complete their second Depository Institution Testing (DIT2) environment certification by the April 30, 2024 deadline. In the coming weeks, we will reach out to every vendor that did not respond to our survey and work with those that need more time to complete their DIT2 certification.
We ask that you assist us by doing the following:
- Work with all of your vendors (e.g., core processing, Office of Foreign Assets Control (OFAC) screening) so they are prepared for this migration.
- Review our vendor list page to make sure your vendor is listed.
- If your vendor is not listed, please contact us so we can help ensure that vendors that offer products or services that facilitate customers’ use of the Fedwire Funds Service are prepared for the migration.
ISO 20022 testing in DIT2 environment
As a reminder, nearly all of the ISO 20022 messages in scope for the Fedwire Funds Service are available for testing in the DIT2 environment. We previously indicated that the Endpoint Details Report (camt.052) would not be available until mid-March but it is now in DIT2 for testing. The remaining ISO 20022 messages listed below will become available in mid-March 2024:
- Investigation Request (camt.110)
- Investigation Response (camt.111)
- Extension Broadcast (admi.004)
New and revised documents posted to MyStandards®
The following documents have been posted to the Fedwire Funds Service page on the MyStandards platform provided by SWIFT®:
- Revised DIT2 Test Script
- Saturday Production Test Script
2024 drop-in sessions
Focused drop-in sessions to address questions from FedLine Direct and FedLine Advantage® (FedPayments Manager – Funds) communities along with registration information are available on the Fedwire Funds Service ISO 20022 Implementation Center’s Education page.
You can register for our Q1 drop-in sessions:
Wednesday, January 31
FedLine Direct Community
Register for the January 31 Drop-In Session
Wednesday, February 28
FedLine Advantage Community
Register for the February 28 Drop-In Session
Wednesday, March 27
FedLine Direct Community
More information
Be sure to bookmark the Fedwire Funds Service ISO 20022 Implementation Center (e.g., view on-demand webinars, register for live events) so you have access to the latest information about this project and contact us if you have any specific questions related to this newsletter.