The Federal Reserve Board is seeking feedback on what role it could play in facilitating faster payments. Specifically, the board is requesting recommendations for actions it could take to expedite the settlement of interbank payment and build on collaborative work with the payment industry through the Fed’s Strategies for Improving the U.S. Payment System (SIPS) initiative.
The Fed is considering two possible ways it could support round-the-clock faster payments in ways that would increase the resiliency and security of services offered to the public.
Find out more about the Fed’s request for comment and what the industry has said about it.