November 2023: On the Wire - ISO® 20022 Newsletter
DIT2 Testing Available on December 15, 2023
We are pleased to announce that on December 15, 2023 we will open our second Depository Institution Testing (DIT) environment—the DIT2 environment—which will have Fedwire® Funds Service ISO 20022 software deployed for customer testing. Testing of all ISO 20022 messages will be available, with the exception of three optional messages (i.e., Endpoint Details Report (camt.052), Investigation Request (camt.110), and Investigation Response (camt.111)) that will become available in mid-March 2024.
In the coming weeks, we will send a follow-up communication to the DIT2 mandatory testing group to provide additional details about the DIT2 testing requirements, and to collect key information (e.g., primary payment application vendor information) to help us track progress.
As previously communicated, DIT2 testing certification must be completed by the dates noted below:
- By April 30, 2024 for the service providers and software vendors that support existing Fedwire Funds Service customers
- By December 31, 2024 for Fedwire Funds Service customers (we highly encourage you to complete your testing by October 31, 2024 to ensure you meet this deadline and allow the last two months for retests)
We are looking forward to supporting your DIT2 testing and helping you meet this important milestone next year! Please review the Fedwire Funds Service ISO 20022 Testing Requirements page for additional details
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®:
- Updated consolidated Quick Reference Guide now includes a new chapter on Drawdowns (refer to the Document Change History section to view the changes)
- DIT2 Test Script
- Opt-in Peer Testing in DIT2 Instructions (FedLine Direct connection owners can test with each other in the DIT2 environment
The following documents will be available on MyStandards by the end of December 2023:
- Final usage guidelines for Investigation messages (i.e., camt.110 and camt.111)
- Final Fedwire Funds Service ISO 20022 Implementation Guide v1.3 (refer to the Document Change History section to view the changes)
- Final Fedwire Funds Service ISO 20022 MyStandards Readiness Portal Guide v1.2 (refer to the Document Change History section to view the changes)
- Final Fedwire Funds Service ISO 20022 Technical Guide v1.2 (refer to the Document Change History section to view the changes) along with revised proprietary XSD files
Lock down of ISO 20022 format specifications
We intend to ‘lock down’ the Fedwire Funds Service ISO 20022 format specifications by the end of 2023. By freezing any further changes to the format specifications, the Fedwire Funds Service community should be able to make final programming changes so they can focus their attention on meeting their DIT2 certification testing milestone.
Key milestone met
Thank you for completing your onboarding to DIT2 environment. While we still have a few customers wrapping up their testing, we are excited to announce that most have successfully completed this important milestone. View the final DIT2 onboarding progress dashboard (PDF).
We value your feedback
We have updated our frequently asked questions (FAQs) based on questions we’ve received from customers and vendors during our webinars, in-person session and drop-in calls. Please review the FAQ page for newly added questions (now includes new Account Reporting questions).
Preparedness checklists available
We have revised and added the following checklists with necessary steps to help you prepare for the Fedwire Funds Service ISO 20022 implementation.
FedLine Direct® checklists:
- Customers and service/software providers with their own connection
- Customers using a service provider
FedPayments® Manager – Funds via FedLine Advantage® checklists:
- Import/export feature primary and backup users
- Manual entry and template users
Last drop-in session of the year is on Thursday December 7, 2023
As always, if you cannot make this drop-in session, you can email us directly.
Looking ahead
This is our last newsletter of the year, but we will be back in January 2024 to kick off another exciting year to help you prepare for the ISO 20022 implementation. In 2024, we will offer focused drop-in sessions to address questions from our FedLine Direct and FedLine Advantage (FedPayments Manager – Funds) communities. Our 2024 schedule and registration information will be available on the Fedwire Funds Service ISO 20022 Implementation Center’s Education page by year end.
Be sure to bookmark the Fedwire Funds Service ISO 20022 Implementation Center page (e.g., on-demand webinars, register for live events) so you have access to the latest information about this project and email us for specific questions related to this newsletter. Have a happy and healthy holiday season!