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Fed Promises Real-Time Settlement, Delivers Delayed Timeline
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Fed Promises Real-Time Settlement, Delivers Delayed Timeline
The Federal Reserve is closing the gap between business hours and real-time money movement. It will just take a while to get it done. The central bank said that it would expand the Fedwire Funds Service and the National Settlement Service (NSS) to operate 22 hours per day, six days a week, running Sunday through Friday and including weekday holidays. The expansion — known internally as “22×6” — is expected to launch in 2028 or 2029, g…
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