National Settlement Service

Fed Governor Waller Says Federal Reserve to Play “Active Role” in Payments Revolution

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Salesforce, Adobe, Oracle, and Google (1)

In a landmark signal of changing priorities, Federal Reserve Governor Christopher Waller said Tuesday (Oct. 21) that the central bank will take a more active and participatory role in the transformation of payments systems. Speaking at the Federal Reserve’s Payments Innovation Conference in Washington, Waller declared: “The revolution transforming payments is demanding change everywhere. I … Read more

Federal Reserve’s 22×6 Plan Brings U.S. Closer to Always-On Payments

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Federal Reserve’s 22×6 Plan

The Federal Reserve is taking a major step toward real-time, near-continuous settlement for large-value payments.The central bank said it will extend operating hours for its Fedwire Funds Service and the National Settlement Service (NSS) to 22 hours per day, six days a week, running from Sunday through Friday — including weekday holidays. The initiative, known … Read more