As announced in August, the Federal Reserve is developing a new, round-the-clock real-time payment and settlement service to support faster payments in the United States. Leading this important initiative is Federal Reserve veteran Ken Montgomery. Two weeks into his new job, Ken shares his thoughts about the path ahead. Why …
Last fall, the Federal Reserve Board requested comment on potential actions the Fed could take to facilitate interbank settlement of faster payments. After conducting an assessment of the public comments and policy criteria regarding the Fed’s role in the payment system, the Board has decided that the Federal Reserve Banks …
The Federal Reserve continues to generate momentum toward the desired outcomes outlined in the Strategies for Improving the U.S. Payment System (PDF) paper released in 2015 and built upon in the 2017 Next Steps in the Payments Improvement Journey (PDF) paper. The Spring 2019 Progress Report (PDF) released today provides …
Federal Reserve Faster Payments Strategy Leader Sean Rodriguez will retire from the Federal Reserve Bank effective January 4, 2019. Rodriguez, an executive vice president and 35-year veteran of the Federal Reserve, is leaving on a high note after steering multi-year collaborative industry efforts to a successful conclusion with the launch …
In November, the Federal Reserve announced the launch of a new membership organization, the U.S. Faster Payments Council (FPC) (Off-site), whose mission is to ensure all Americans can safely and securely pay anyone, anywhere, at any time with near-immediate funds availability. If you’re interested in hearing more about the organization …
In November, the Federal Reserve announced the launch of a new membership organization, the U.S. Faster Payments Council (FPC) (Off-site), whose mission is to ensure all Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. To learn more about this widely anticipated organization, …
Thank you to everyone who attended our town halls on the Faster Payments Settlement Assessment Federal Register notice (Off-site). The Federal Reserve believes that industry collaboration is the foundation of any enduring strategic improvements to the U.S. payment system. If you were unable to attend or would like to review …
The Federal Reserve held public Town Hall meetings in each of its 12 districts and hosted a webinar to help build an understanding of the Faster Payments Settlement Assessment Federal Register Notice (Notice) with stakeholders all across the nation. Watch the webinar recording below for an overview of the conceptual …
The Governance Framework Formation Team (GFFT) has launched a new, highly anticipated payments organization – the U.S. Faster Payments Council (FPC). In today’s increasingly mobile, digital economy, Americans are demanding a world-class payment system where they can safely and securely pay anyone, anywhere, at any time and with near-immediate funds …
We are pleased to announce the release of our Fall 2018 Progress Report (PDF)! The report highlights the important work we’ve completed in collaboration with the industry and next steps we’re taking toward the desired outcomes for speed, security, efficiency, international payments and collaboration as outlined in the Strategies for Improving …