Federal Reserve extends operating days of two large-value payment services
10 October 2025 US
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The Federal Reserve Board has expanded operating days of two large-value payment services, Fedwire Funds Service and National Settlement Service (NSS), to include Sundays and weekday holidays.
The expansion will be enacted by the Reserve Banks in several years, not before 2028, to ensure operational and industry preparedness.
The Fedwire Funds Service and NSS currently run Monday through Friday, holidays excluded.
Once implemented, the service will be run Sunday through Friday by the Reserve Banks, weekday holidays included.
The Board will watch demand for services to consider a potential greater expansion of operating hours to seven days per week.
If an expansion is proposed by the Board, it will seek public comment in a new proposal.
The Fedwire Funds Service is a wholesale payment service that enables participant banks and credit unions to send and receive individual electronic fund transfers of up to US$10 billion.
NSS is a settlement service for participants in private-sector clearing arrangements, such as check clearinghouses, a private-sector clearinghouse network and securities settlement systems.
The expansion will be enacted by the Reserve Banks in several years, not before 2028, to ensure operational and industry preparedness.
The Fedwire Funds Service and NSS currently run Monday through Friday, holidays excluded.
Once implemented, the service will be run Sunday through Friday by the Reserve Banks, weekday holidays included.
The Board will watch demand for services to consider a potential greater expansion of operating hours to seven days per week.
If an expansion is proposed by the Board, it will seek public comment in a new proposal.
The Fedwire Funds Service is a wholesale payment service that enables participant banks and credit unions to send and receive individual electronic fund transfers of up to US$10 billion.
NSS is a settlement service for participants in private-sector clearing arrangements, such as check clearinghouses, a private-sector clearinghouse network and securities settlement systems.
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