PYMNTS

AUGUST 6, 2019

The Fed plans to build its own instant clearing and settlement rails. We only get to make this kind of decision once every 30 or 40 years,” Brainard said, noting that this was the biggest payments oriented move made by The Fed since the early 1970s and the implementation of the ACH system. “At It’s now official. Brainard asked.

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PYMNTS

MARCH 18, 2019

Connecting these two dots suggests a few important things that, for banks and card networks, might be the 2020 hindsight that could have come in handy had they stopped to look backwards a few years ago: That the Fed has much more than a passing interest in how faster payments are run in the U.S. This delay was initiated by the Fed.

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PYMNTS

AUGUST 10, 2020

But with a 2023-24 timeframe to implementation, the Fed’s efforts will take a while to cross the Rubicon from concept to reality. Waiting for the Fed — and its promise of interoperability, which requires participation from the private sector — is akin to playing the (very) long game. What’s Next.

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PYMNTS

AUGUST 12, 2019

That’s the talk track now from the Fed , which a week ago today announced its plans to build and operate a new set of real-time rails, using accelerated access to employer paychecks as its launch use case. It’s also not why the Fed decided to enter the real-time payments fray. The Fed’s Not-so-Fast Ambitions. financial system.

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PYMNTS

FEBRUARY 4, 2019

TCH, which is co-owned by 25 banks, launched Real-Time Payments (RTP) in November 2017. The Fed sought feedback on the system, which brought in more than 380 responses. The Independent Community Bankers of America and the CUNA requested that the Fed system be interoperable with the private sector’s real-time payment rails. .

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PYMNTS

MAY 10, 2019

” The announcement continued, “The new window, with a submission deadline of 4:45 p.m. ” In addition, these changes would lead to adjustments in the central bank’s services so that The Clearing House (TCH) would be able to settle same-day transactions later in the day, via the NSS. ET and settlement at 1:00 p.m.

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PYMNTS

AUGUST 14, 2020

The initiatives include the efforts of The Clearing House (TCH) to link the core banking infrastructure of financial institutions to the Real-Time Payments (RTP) network. Fed Says America Needs Instant Payments As Soon As Possible. What Overcoming Inertia Tells Us About The Future of Physical Retail. Trackers And Reports.

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