Fed provides update on future RTGS system

FedNow cross-border payments could be considered in future, US central bank says

Federal Reserve
Federal Reserve: ramping up efforts for real-time gross settlement service

The Federal Reserve is beginning to ramp up its efforts in creating the recently announced real-time gross settlement (RTGS) service FedNow, said the leader of the initiative, Kenneth Montgomery.

Montgomery said the Fed is starting to define the business requirements to develop the service, and is currently building the core team of “in-house experts”, in a Q&A published on the Federal Reserve System’s new website, FedPayments Improvements.

FedNow, announced on August 5, will be the Fed’s

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: