Federal Reserve System August 11, 2020 – Federal Register Recent Federal Regulation Documents

Service Details on Federal Reserve Actions To Support Interbank Settlement of Instant Payments
Document Number: 2020-17539
Type: Notice
Date: 2020-08-11
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) has approved the FedNow\SM\ Service as described in this announcement. The FedNow Service is a new interbank 24x7x365 real-time gross settlement service with clearing functionality to support instant payments in the United States. The new service will support banks' provision of end-to-end instant payment services and will provide infrastructure to promote ubiquitous, safe, and efficient instant payments in the United States.
Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
Document Number: 2020-17530
Type: Notice
Date: 2020-08-11
Agency: Federal Reserve System, Agencies and Commissions