Potential Modifications to the Federal Reserve Banks’ National Settlement Service and Fedwire Funds Service

Potential Modifications to the Federal Reserve Banks’ National Settlement Service and Fedwire Funds Service

The Federal Reserve Board is requesting comment on potential modifications to the Federal Reserve Banks' National Settlement Service (NSS) and Fedwire Funds Service to support enhancements to the same-day automated clearinghouse (ACH) service, which with NACHA rules changes will add a third daily processing window.   The NACHA rules changes require adjustments to Federal Reserve services so that the private sector ACH operator, The Clearing House, can settle same-day ACH transactions later in the day via the NSS.