System Changes

Includes TIPS-0097-SYS (ISO Maintenance Release 2025 message version updates) and TIPS-0080-SYS (R-only transactions BIC functionality for exceptional scenarios such as mergers). Western Balkan countries (except Serbia) onboarded to TIPS.. Recorded by ClearingPost from automated source verification on 2026-08-18. New value: Includes TIPS-0097-SYS (ISO Maintenance Release 2025 message version updates) and TIPS-0080-SYS (R-only transactions BIC functionality for exceptional scenarios such as mergers). Western Balkan countries (except Serbia) onboarded to TIPS.

BCB publishes second PIX management report (2023-2025), explicitly shifting cross-border integration from aspirational to active policy. Report describes bilateral connections with foreign payment systems and multilateral hub participation. BCB has signed information-sharing agreements with 65 foreign counterparts. (2026-08-10). Recorded by ClearingPost from automated source verification on 2026-08-18. New value: BCB publishes second PIX management report (2023-2025), explicitly shifting cross-border integration from aspirational to active policy. Report describes bilateral connections with foreign payment systems and multilateral hub participation. BCB has signed information-sharing agreements with 65 foreign counterparts. (2026-08-10)

NPCI CEO Dilip Asbe announces strategy to expand UPI to 15-20 international markets over the next decade, targeting India's 35-million diaspora ($155B annual remittances). Malaysia and Bahrain in active discussions. NPCI also exploring agentic AI payment integrations with OpenAI ChatGPT and Alphabet Gemini. (2026-08-10). Recorded by ClearingPost from automated source verification on 2026-08-18. New value: NPCI CEO Dilip Asbe announces strategy to expand UPI to 15-20 international markets over the next decade, targeting India's 35-million diaspora ($155B annual remittances). Malaysia and Bahrain in active discussions. NPCI also exploring agentic AI payment integrations with OpenAI ChatGPT and Alphabet Gemini. (2026-08-10)

Eighth Circuit (Corner Post): oral arguments held May 13, 2026. Three-judge panel expressed skepticism toward Fed's inclusion of fixed infrastructure costs in the fee cap; Judge Benton questioned whether Congress intended a 'blank check'; Judge Stras questioned how a flat 21-cent fee reflects actual transaction costs. Case taken under advisement; no ruling issued. Sixth Circuit (Linney's Pizza): amicus briefs filed through May 2026 (NFIB May 6, Senator Durbin); no oral argument date scheduled. ABA and banking associations filed amicus brief in June 2026 urging appeals courts to uphold Reg II interchange fee standard. Verified August 18, 2026. Recorded by ClearingPost from automated source verification on 2026-08-18. New value: Eighth Circuit (Corner Post): oral arguments held May 13, 2026. Three-judge panel expressed skepticism toward Fed's inclusion of fixed infrastructure costs in the fee cap; Judge Benton questioned whether Congress intended a 'blank check'; Judge Stras questioned how a flat 21-cent fee reflects actual transaction costs. Case taken under advisement; no ruling issued. Sixth Circuit (Linney's Pizza): amicus briefs filed through May 2026 (NFIB May 6, Senator Durbin); no oral argument date scheduled. A… [truncated]

All five agencies (OCC, FDIC, Fed, NCUA, Treasury) missed the July 18, 2026 statutory deadline. Eleven NPRMs published; none finalized. Closed comment periods: NCUA (July 17), OCC AML/sanctions (July 24), FDIC BSA/AML (August 4), OCC reporting forms PS-01/PS-02 (August 11). Crypto for Innovation filed comment letter on PS-01/PS-02 closing date. Joint FinCEN/OCC/Fed/FDIC/NCUA Customer Identification Program NPRM for stablecoin issuers closes August 21; proposes risk-based CIP requirements including name, date of birth, address, and TIN collection, with five-year record retention. FDIC reporting forms NPRM (FR 2026-14589) closes September 18; proposes weekly confidential and quarterly reporting forms for FDIC-supervised PPSIs, plus a short-form weekly option for eligible issuers. After September 18 all public comment windows will have closed. No penalty clause for missed deadline; GENIUS Act takes effect on earlier of January 18, 2027 or 120 days after final rules. January 2027 now governs the compliance timeline. Coordinated final rule package unlikely before fall 2026. OCC proposed rules include $5 million de novo capital floor, three-tier liquidity framework, and $25 billion scale threshold. USDC and USDT both exceed the $25 billion threshold. Verified August 18, 2026. Recorded by ClearingPost from automated source verification on 2026-08-18. New value: All five agencies (OCC, FDIC, Fed, NCUA, Treasury) missed the July 18, 2026 statutory deadline. Eleven NPRMs published; none finalized. Closed comment periods: NCUA (July 17), OCC AML/sanctions (July 24), FDIC BSA/AML (August 4), OCC reporting forms PS-01/PS-02 (August 11). Crypto for Innovation filed comment letter on PS-01/PS-02 closing date. Joint FinCEN/OCC/Fed/FDIC/NCUA Customer Identification Program NPRM for stablecoin issuers closes August 21; proposes risk-based CIP requirements includi… [truncated]

COREPER endorsed the trilogue agreement on April 23, 2026. ECON Committee approved on May 5, 2026: PSD3 (50 in favour, 3 against, 5 abstentions), PSR (50 in favour, 2 against, 2 abstentions). ECON Chair wrote to Council Presidency on May 18 confirming recommendation for adoption at second reading without amendment. Full Parliament plenary vote still pending as of August 18; May/June 2026 plenary targets were not met. EP Legislative Train page updated June 20, 2026 confirms status 'close to adoption' but no plenary date set. PSD3/PSR absent from July 6-9 Strasbourg plenary agenda; September 2026 is the earliest plenary window. Official Journal publication expected Q3/Q4 2026. Legal-linguistic review ongoing. PSR enters application 18 months after entry into force; PSD3 requires Member State transposition within 18 months. Verified August 18, 2026. Recorded by ClearingPost from automated source verification on 2026-08-18. New value: COREPER endorsed the trilogue agreement on April 23, 2026. ECON Committee approved on May 5, 2026: PSD3 (50 in favour, 3 against, 5 abstentions), PSR (50 in favour, 2 against, 2 abstentions). ECON Chair wrote to Council Presidency on May 18 confirming recommendation for adoption at second reading without amendment. Full Parliament plenary vote still pending as of August 18; May/June 2026 plenary targets were not met. EP Legislative Train page updated June 20, 2026 confirms status 'close to adopt… [truncated]

Red Compass Labs estimated in March 2026 that approximately 65% of payment messages still contain unstructured addresses. SWIFT's own April 2026 data shows 61.2% of payments include unstructured debtor postal addresses and 62.9% include unstructured creditor postal addresses. Industry surveys indicate approximately 44% of banks are not on track for the November 2026 deadline, with 32% of customer address records remaining unstructured on average. Approximately 65 market infrastructures do not yet have plans to process structured or hybrid addresses by November 2026. SWIFT has deployed an NLP-based AI model to infer structured address data from unstructured legacy content. FINplus Pilot Future and FIN future mode available since July 18, 2026 with CBPR+ 2026 Usage Guidelines and SR 2026 validation rules, enabling banks to test structured address compliance. SR 2026 includes CR 3098 (camt.106 upgrade to ISO 20022 v3), CR 3018 (mandatory Return Identification in pacs.004), and CR 3021 (mandatory Electronic Sequence Number in camt.052/camt.053). Non-compliant messages will be rejected outright on the SWIFT network after November 14 with no fallback available. No new industry-wide readiness data published since April 2026. Verified August 18, 2026. Recorded by ClearingPost from automated source verification on 2026-08-18. New value: Red Compass Labs estimated in March 2026 that approximately 65% of payment messages still contain unstructured addresses. SWIFT's own April 2026 data shows 61.2% of payments include unstructured debtor postal addresses and 62.9% include unstructured creditor postal addresses. Industry surveys indicate approximately 44% of banks are not on track for the November 2026 deadline, with 32% of customer address records remaining unstructured on average. Approximately 65 market infrastructures do not ye… [truncated]

Report Stage amendments adopted: FCA/PRA must report on secondary objectives fulfilment within two years; financial inclusion added to FCA consumer protection mandate; Financial Ombudsman Service empowered to charge claims management companies for vexatious complaints; government cash access clarification requiring free access for personal customers. Report Stage completed in Lords. UK Finance reported bill advancing towards Royal Assent as of mid-July. Lords Third Reading status unconfirmed; bill tracker last updated July 15. House of Commons adjourned July 16 for summer recess, returning September 1. If Lords Third Reading completed before recess, bill proceeds to Commons Second Reading in autumn 2026. Full Commons passage (Second Reading, Committee, Report, Third Reading) required before Royal Assent. UK Parliament bills tracker returned HTTP 403 on August 18; direct verification of Third Reading date not possible. Verified August 18, 2026. Recorded by ClearingPost from automated source verification on 2026-08-18. New value: Report Stage amendments adopted: FCA/PRA must report on secondary objectives fulfilment within two years; financial inclusion added to FCA consumer protection mandate; Financial Ombudsman Service empowered to charge claims management companies for vexatious complaints; government cash access clarification requiring free access for personal customers. Report Stage completed in Lords. UK Finance reported bill advancing towards Royal Assent as of mid-July. Lords Third Reading status unconfirmed; bi… [truncated]

Financial Services and Markets Bill [HL] introduced May 19, 2026; Second Reading in Lords June 8-9, 2026. Lords Committee Stage (Grand Committee) completed six sittings through July 8. Clause 13 and Schedule 2 abolish PSR and consolidate functions into FCA. Report Stage completed in Lords; government concessionary amendments adopted on regulatory accountability, access to cash, and sustainability. UK Finance reported bill advancing towards Royal Assent as of mid-July. Lords Third Reading status unconfirmed; bill tracker last updated July 15. House of Commons adjourned July 16 for summer recess, returning September 1. If Lords Third Reading completed before recess, bill proceeds to Commons in autumn 2026. Full Commons stages required before Royal Assent. UK Parliament bills tracker returned HTTP 403 on August 18; direct verification of Third Reading date not possible. Verified August 18, 2026. Recorded by ClearingPost from automated source verification on 2026-08-18. New value: Financial Services and Markets Bill [HL] introduced May 19, 2026; Second Reading in Lords June 8-9, 2026. Lords Committee Stage (Grand Committee) completed six sittings through July 8. Clause 13 and Schedule 2 abolish PSR and consolidate functions into FCA. Report Stage completed in Lords; government concessionary amendments adopted on regulatory accountability, access to cash, and sustainability. UK Finance reported bill advancing towards Royal Assent as of mid-July. Lords Third Reading status … [truncated]

NPCI deadline for all banks and UPI apps to implement mobile number masking (only last four digits visible to counterparties) and default username-based VPAs for new users. Circular aligned with Digital Personal Data Protection Act. (2026-09-04). Recorded by ClearingPost from automated source verification on 2026-08-15. New value: NPCI deadline for all banks and UPI apps to implement mobile number masking (only last four digits visible to counterparties) and default username-based VPAs for new users. Circular aligned with Digital Personal Data Protection Act. (2026-09-04)

UPI processed 241.62 billion transactions (24,162 crore) worth Rs 314 lakh crore in FY26. July 2026 set the all-time monthly record at 23.66 billion transactions worth Rs 29.88 lakh crore. 554.9 million users onboarded as of June 2026, with 731 participating banks.. Recorded by ClearingPost from automated source verification on 2026-08-14. New value: UPI processed 241.62 billion transactions (24,162 crore) worth Rs 314 lakh crore in FY26. July 2026 set the all-time monthly record at 23.66 billion transactions worth Rs 29.88 lakh crore. 554.9 million users onboarded as of June 2026, with 731 participating banks.

Finance Ministry and PCI clarify post-amendment MDR framework. MDR if introduced will be threshold-based, not blanket. UPI and Services Steering Committee (NPCI-led) to determine implementation. PCI cites Rs 10,000 crore annual UPI infrastructure cost vs Rs 1,500 crore government subsidy. P2P and consumer transactions confirmed free. (2026-08-08). Recorded by ClearingPost from automated source verification on 2026-08-13. New value: Finance Ministry and PCI clarify post-amendment MDR framework. MDR if introduced will be threshold-based, not blanket. UPI and Services Steering Committee (NPCI-led) to determine implementation. PCI cites Rs 10,000 crore annual UPI infrastructure cost vs Rs 1,500 crore government subsidy. P2P and consumer transactions confirmed free. (2026-08-08)