Q&A With Ken Montgomery, Our New FedNowSM Service Program Executive
As announced in August, the Federal Reserve is developing a new, round-the-clock real-time payment and settlement service to support faster payments in the United States. Leading this important initiative is Federal Reserve veteran Ken Montgomery. Two weeks into his new job, Ken shares his thoughts about the path ahead. Why …
The decision is in: The Federal Reserve Banks will develop the FedNowSM Service, a new 24x7x365 real-time gross clearing and settlement service
Last fall, the Federal Reserve Board requested comment on potential actions the Fed could take to facilitate interbank settlement of faster payments. After conducting an assessment of the public comments and policy criteria regarding the Fed’s role in the payment system, the Board has decided that the Federal Reserve Banks …
Sean Rodriguez Embarks on His Next Quest: Retirement
Federal Reserve Faster Payments Strategy Leader Sean Rodriguez will retire from the Federal Reserve Bank effective January 4, 2019. Rodriguez, an executive vice president and 35-year veteran of the Federal Reserve, is leaving on a high note after steering multi-year collaborative industry efforts to a successful conclusion with the launch …
Join U.S. Faster Payments Council Founders for a Webinar!
In November, the Federal Reserve announced the launch of a new membership organization, the U.S. Faster Payments Council (FPC) (Off-site), whose mission is to ensure all Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. To learn more about this widely anticipated organization, …
Thank You for Attending a Faster Payments Settlement Assessment Federal Register Notice Town Hall
Thank you to everyone who attended our town halls on the Faster Payments Settlement Assessment Federal Register notice (Off-site). The Federal Reserve believes that industry collaboration is the foundation of any enduring strategic improvements to the U.S. payment system. If you were unable to attend or would like to review …
Introducing the U.S. Faster Payments Council
The Governance Framework Formation Team (GFFT) has launched a new, highly anticipated payments organization – the U.S. Faster Payments Council (FPC). In today’s increasingly mobile, digital economy, Americans are demanding a world-class payment system where they can safely and securely pay anyone, anywhere, at any time and with near-immediate funds …