Finance & markets · 09/08/2019Updated: 10/17/2026 · 1 min read
Federal Reserve to Launch New Interbank Settlement Service for Faster Payments
Summary
The Federal Reserve Board has decided to develop a new interbank real-time gross settlement service to support faster payments in the US, aiming to provide infrastructure for ubiquitous, safe, and efficient payments. The Fed plans to expand its services to 24x7x365 hours, subject to further analysis and public comment.