Anonymous ID: 727ff4 March 18, 2023, 1:02 a.m. No.18529665   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun   >>9673

>>18529614

 

Federal Reserve announces July launch for the FedNow Service

 

The Service will Debut with Financial Institutions and the U.S. Treasury on Board

 

CHICAGO โ€“ The Federal Reserve announced that the FedNow Service will start operating in July and provided details on preparations for launch.

 

The first week of April, the Federal Reserve will begin the formal certification of participants for launch of the service. Early adopters will complete a customer testing and certification program, informed by feedback from the FedNow Pilot Program, to prepare for sending live transactions through the system.

 

Certification encompasses a comprehensive testing curriculum with defined expectations for operational readiness and network experience. In June, the Federal Reserve and certified participants will conduct production validation activities to confirm readiness for the July launch.

 

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https://www.federalreserve.gov/newsevents/pressreleases/other20230315a.htm