Federal Reserve Financial Services | Fed360
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The Federal Reserve, the central bank of the United States, was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. The Federal Reserve Banks provide financial services to depository institutions including banks and credit unions, much like those that banks provide for their customers.
Federal Reserve Financial Services | Fed360
1w ago
Effective Feb. 18, 2025, the Federal Reserve Banks will amend Operating Circular 6, Funds Transfers Through the Fedwire Funds Service ..read more
Federal Reserve Financial Services | Fed360
1w ago
The 2024 year-end audit of Federal Reserve Bank financial statements performed by our external auditor KPMG will continue to use the online tool Thomson Reuters Confirmation. The use of Confirmation for the year-end audit was implemented in 2022 as part of ongoing efforts to improve delivery of information and services to customers ..read more
Federal Reserve Financial Services | Fed360
1w ago
The recently announced pricing changes for 2025, which took effect Jan. 1, 2025, support Federal Reserve Financial Services’ (FRFS) plans for the new year and reflect our continued strategic focus on providing customers with a fully integrated product suite that offers speed, resilience and choice ..read more
Federal Reserve Financial Services | Fed360
1w ago
Our world is becoming increasingly digital, with automated processes prevalent in everyday life. In support of digitalization, the Federal Reserve is working with the payments industry to advance Cash Visibility and bring greater transparency and efficiency to cash supply chain operations by identifying, tracking and sharing data about cash packages as they move between organizations ..read more
Federal Reserve Financial Services | Fed360
1w ago
If you haven’t completed peer testing yet, we strongly encourage you to join more than 270 of your peers to exchange ISO 20022 test messages in the DIT2 environment before the migration on March 10, 2025 ..read more
Federal Reserve Financial Services | Fed360
1w ago
Since the FedNow Service launched in July 2023, more than 1,000 financial institutions across the U.S. have joined the network. These leading-edge organizations have learned plenty of valuable lessons along their instant payments journey ..read more
Federal Reserve Financial Services | Fed360
1M ago
Federal Reserve Financial Services’ preferred method to process account confirmations is through Thomson Reuters Confirmation ..read more
Federal Reserve Financial Services | Fed360
1M ago
As you begin planning for the upcoming year, be sure to schedule time to review your Statement of Service Charges each month to ensure accuracy. Notify the Federal Reserve Banks as soon as possible if you believe there is an error ..read more
Federal Reserve Financial Services | Fed360
1M ago
Over the years, Federal Reserve leaders have helped ensure that the System successfully supports payment and settlement system safety, efficiency and innovation via services offered to the banking industry and U.S. government. Meet three women leaders who have been instrumental in achieving Fed payments innovation and successes ..read more
Federal Reserve Financial Services | Fed360
1M ago
Early notification of potentially fraudulent activity can help risk officers review, investigate and stop financial losses. To assist your institution to identify bad actors and mitigate fraud, FedDetect Duplicate Notification for Check Services now includes commercial (non-U.S. government) checks, in addition to Treasury checks ..read more