Payments Dive

JULY 11, 2025

Skip to main content CONTINUE TO SITE ➞ Dont miss tomorrows Payments industry news Let Payments Dives free newsletter keep you informed, straight from your inbox. Federal Reserve Bank shown at sunset in this 2023 photo. banks are prepared for the Fed shift to ISO 20022, though some smaller institutions in the U.S.

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ISOs ISO 20022 FedWire Federal Reserve 218

Finextra

JULY 1, 2025

The 2008 lesson still echoes Almost two decades on, the financial crisis of 2008 continues to cast a long shadow. The collapse of major institutions like Lehman Brothers exposed how dangerously opaque and unmonitored intraday liquidity had become. 17 February Intraday liquidity regulation: a decade of progress?

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Regulations Liquidity Risk Treasury Liquidity Management 52

Payments Dive

JULY 15, 2025

Skip to main content CONTINUE TO SITE ➞ Dont miss tomorrows Payments industry news Let Payments Dives free newsletter keep you informed, straight from your inbox. The Federal Reserve payments system, which handles about $4.7 By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy.

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FedWire ISOs ISO 20022 Federal Reserve 144

PYMNTS

APRIL 10, 2020

Federal Reserve said that it had launched a multi-trillion dollar lending program that targets smaller businesses, and in a broadened salvo, targets local governments, too. economy, as the fallout from the coronavirus continues. The Fed package, of course, comes on the heels of the $2.2 But so might a “false start.”.

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Fed Federal Reserve Returns Consumer 135

PYMNTS

MAY 6, 2020

The Federal Reserve has formed a FedNow Community group for its upcoming instant payment offering, the FedNow Service , and needs volunteers to support it, the Fed announced Wednesday (May 6). Montgomery, Federal Reserve Bank of Boston first vice president, in a statement. Interested individuals can apply online.

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FedNow Fed Instant Payments Participant 93

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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FedNow Fed Federal Reserve Real Time Payments 85

PYMNTS

DECEMBER 7, 2018

The Federal Reserve sent Wells Fargo & Co. Reuters , citing three people with knowledge of the discussions, reported that because the Federal Reserve rejected Wells Fargo’s plan it could take longer for the Fed to lift the asset cap on the company put in place due to a series of sales practices scandals.

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PYMNTS

JUNE 23, 2020

New payments infrastructure continues to gain traction with financial service providers looking to modernize their services for business clients. Federal Reserve has introduced a new effort to combat payments fraud. Federal Reserve Tackles Fraud Across Rails. In the U.S., And when it comes to legacy rails, the U.S.

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Federal Reserve RTP Payment APIs and Integration Fed 106

PYMNTS

MARCH 15, 2020

The Federal Reserve announced Sunday (March 15) it would drop benchmark interest rates to zero and buy at least $700 billion in government bonds as part of an emergency action to protect the economy from the impact of the coronavirus outbreak. The only lone dissenter in lowering the rate was Cleveland Fed President Loretta Mester.

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Federal Reserve Fed Economy Central Bank 56

PYMNTS

JANUARY 7, 2021

Officials at the Federal Reserve, the Federal Deposit Insurance Corp. Representatives of the Fed, FDIC and Treasury inspectors general offices would not comment on the matter, the paper reported. FDIC) and the Treasury Department are looking to see if American Express Co. 7), citing unnamed sources. “We

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PYMNTS

NOVEMBER 7, 2016

Federal Reserve is turning heads for its attention to faster payments, but the Fed has recently announced yet another initiative in the payments innovation space. Last week, the Fed’s Secure Payments Task Force called for comment from industry stakeholders about what challenges they face when it comes to payments security.

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Fed Secure Payments Task Force Security Federal Reserve 77

PYMNTS

AUGUST 7, 2020

For the Federal Reserve, real-time payments will take time — three or four years’ time, to be specific. Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States.

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PYMNTS

APRIL 24, 2020

The Federal Reserve Board has eliminated its six-per-month limit on transfers and withdrawals from savings accounts as the nation continues to adapt to changes caused by COVID-19. Such a rule is no longer necessary, the Fed said. Last month, the regulatory agency dropped the primary credit rate by 150 basis points to 0.25

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PYMNTS

NOVEMBER 5, 2020

The Federal Reserve ’s Thursday (Nov. 5) statement from the Federal Open Market Committee (FOMC) affirms its position to use the “full range” of tools at its disposal to stabilize the U.S. Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year.

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PYMNTS

APRIL 7, 2020

The Federal Reserve is collaborating with the Treasury Department to develop a new facility to help small and medium-sized businesses (SMBs) stay afloat as the coronavirus pandemic continues, according to a report in the Wall Street Journal (WSJ). The PPP is part of the $2.2

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PYMNTS

DECEMBER 19, 2019

With a problem at the Federal Reserve that has since reportedly been fixed, direct deposits, as well as other financial transactions, were delayed on Thursday (Dec. The Fed noted at 10:31 a.m. However, the Fed said in a statement per the report that tech staff still are still looking into the problem’s fundamental cause.

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PYMNTS

SEPTEMBER 13, 2016

When the Federal Reserve ticked the interest rate up to 0.25 In the wake of the financial crisis, the Fed officially cut the interest rate in the U.S. In the wake of the financial crisis, the Fed officially cut the interest rate in the U.S. The Federal Reserve board meets on Sept.

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PYMNTS

MARCH 15, 2020

The Federal Reserve announced Sunday (March 15) it would drop benchmark interest rates to zero and buy at least $700 billion in government bonds as part of an emergency action to protect the economy from the impact of the coronavirus outbreak. The only lone dissenter in lowering the rate was Cleveland Fed President Loretta Mester.

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Fed Federal Reserve Economy Central Bank 57

PYMNTS

MAY 15, 2020

Just when the economy can’t take any more bad news, the Federal Reserve Bank of Atlanta is predicting the national gross domestic product (GDP) is expected to drop by nearly 43 percent in the second quarter, CNBC reported. GDPNow is not an official forecast of the Atlanta Fed. percent in Q2, down from the May 8 estimate of 33.9

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PYMNTS

MAY 27, 2020

For now, the Federal Reserve Beige Book released on Wednesday (May 27) found that U.S. companies are suffering from a continued overall economic decline. Overall, verticals such as the hospitality, travel and leisure sectors continue to see a downdraft. Where might there be some green shoots?

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PYMNTS

AUGUST 10, 2020

But it might not be the Federal Reserve ’s doing. Federal Reserve, where details (a roadmap, really) of FedNow , the proposed instant payment system, were released earlier this month. But with a 2023-24 timeframe to implementation, the Fed’s efforts will take a while to cross the Rubicon from concept to reality.

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PYMNTS

SEPTEMBER 7, 2017

It’s been more than two years since the Federal Reserve issued its Strategies for Improving the U.S. Payment System paper, in which the Fed outlined initiatives for the payments industry and its stakeholders to promote progress. Now, the Federal Reserve wants to keep the momentum going. On Wednesday (Sept.

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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

NOVEMBER 18, 2020

Americans paid off $10 billion in credit card debt in the third quarter (Q3) of 2020, but borrowed more for car and housing loans, according to a report in the Wall Street Journal (WSJ) citing the Federal Reserve Bank of New York. Student loans reached $1.55 trillion, up $9 billion. .

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Credit Cards Consumer Federal Reserve Fed 124

PYMNTS

JULY 5, 2017

The Federal Reserve made news late last week when it released its newest data on consumer and business payment habits, assessed via data from 2015 compiled in 2016. According to Fed researchers, there were some significant changes in corporate payments activity between 2000 an 2015.

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PYMNTS

JANUARY 23, 2019

Deutsche Bank’ s handling of billions of dollars in suspicious transactions from Danske Bank’ s Estonian branch is raising the ire of the Federal Reserve, which is looking into it. According to Bloomberg, the Federal Reserve’s inquiry is at an early stage and is looking at whether or not the U.S. In the U.S.

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PYMNTS

JUNE 16, 2020

gross domestic product, according to Federal Reserve data. But the borrowing surge is continuing thanks to the pandemic, with more than $1 trillion in new debt issued so far this year. Still, Deutsche Bank Chief Economist Torsten Slok recently told Bloomberg that the Fed and the U.S. economic recovery.

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PYMNTS

APRIL 29, 2020

To provide immediate cash flow for small- to medium-sized businesses (SMBs), the American Institute of CPAs (AICPA) is asking for the Federal Reserve to make a short-term accounts receivable (AR) lending facility that is federally backed, according to an announcement.

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PYMNTS

SEPTEMBER 29, 2020

The Fed’s latest Survey of Consumer Finances might come with a caveat: The data measure a period that may seem long ago and far away — the time before COVID, of course. At a high level, noted the Federal Reserve, between 2016 and 2019, real gross domestic product grew at an annual 2.5 Overall, 98.7 Online Banking .

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Fed Federal Reserve Consumer Finance 52

PYMNTS

DECEMBER 11, 2017

Federal Reserve System has appointed its Payments Security Strategy leader, the agency announced Friday (Dec. Kenneth Montgomery, first vice president and chief operating officer of the Federal Reserve Bank of Boston, is taking up the position. Treasury and financial market, among other responsibilities.

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PYMNTS

JANUARY 15, 2019

14) that the Federal Reserve, the U.S. Yet now, said Reuters, the Fed has said there is not enough risk management in place to allow FinTechs full-fledged access to the payment system. It would be helpful for the Fed to clarify.” Reuters reported early Monday (Jan.

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Fed Cross-Border FinTech Office of the Comptroller of the Currency 59

PYMNTS

OCTOBER 21, 2020

A top Fed official is warning more stimulus spending will be needed in order to turn a “K-shaped recovery” in the United States into one that is “broad-based and inclusive.”. Federal Reserve Governor Lael Brainard on Wednesday (Oct. Federal Reserve Governor Lael Brainard on Wednesday (Oct.

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Fed Economy Federal Reserve Small Business 56

PYMNTS

OCTOBER 10, 2019

Federal Reserve officials are worried that slowing global growth, exacerbated by the U.S.-China Since the September Federal Reserve meeting, surveys and other economic data have hinted that weakness in manufacturing might be spreading into other parts of the U.S. Louis Fed, voted for a bolder rate cut of 50 basis points.

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Fed Federal Reserve Credit Cards Economy 43

PYMNTS

SEPTEMBER 21, 2020

Patrick Vallance, British chief scientific advisor, said there could be 50,000 new infections every day by mid-October if the virus continues spreading at its current rate, FT reported, with new infections doubling every seven days. The stocks have been under pressure since the Federal Reserve's recent meeting on monetary policy.

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PYMNTS

JANUARY 25, 2021

A new study from the Federal Reserve Bank of New York shows that people expect the economy to rebound by next year, according to a press release. 25), said year-ahead total household spending growth expectations rose sharply, with a continuing rebound from the severe downturn in April as the pandemic was beginning, the release stated.

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PYMNTS

JANUARY 18, 2019

While the Fed has hinted that it has been adjusting its U.S. economic outlook due to turmoil in the markets as well as decelerating expansion in China, New York Fed President John Williams said on Friday (Jan. of a percentage point for each week that the current situation continues. percentage point reduction.

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Shutdown Fed Federal Reserve Economy 49

PYMNTS

FEBRUARY 4, 2019

percent, according to Federal Reserve data. Use of Same Day ACH (SDA) — overseen by NACHA (The Electronic Payments Association) and the Federal Reserve — has risen. The Federal Approach. Against this backdrop, the Federal Reserve proposed creating its own real-time payments service in October 2018.

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