Fed Requests Comment on Expansion of Operating Days
The Federal Reserve Board has requested comment on a proposal to expand the operating days of the Federal Reserve Banks' two large-value payments services to include weekends and holidays, so that they would operate every day of the year.
Currently, both the Fedwire® Funds Service and the National Settlement Service, or NSS, operate Monday through Friday, excluding holidays. Under the proposal, both services would operate every day of the year. The operating hours each day would remain the same, with the Fedwire Funds Service open 22 hours per day, and NSS open 21.5 hours per day. Use of the expanded operating days by service participants, such as banks and credit unions, would be voluntary.
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| Topic | - Industry News
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| News Details Button URL | https://www.federalreserve.gov/newsevents/pressreleases/bcreg20240503a.htm |