◆ClearingPost

Fedwire

RTGS

US large-value RTGS, expanding to 22/6/365 from 2028. ISO 20022 migration completed July 14, 2025.

NowHours: computing from the published schedule…Service condition: not monitored details

ClearingPost does not assess whether Fedwire is running normally.

Next

All 13 upcoming →

Dated items ClearingPost holds, each with its source and whether the date is confirmed

  • Federal Reserve Financial Services · expand for each date and its source
  • Federal Reserve Financial Services · expand for each date and its source
  • Federal Reserve Financial Services · expand for each date and its source
  • 00:00–23:59 America/New_York · closed
    Federal Reserve Financial Servicessource ↗

Later: 3 dated items after 28 Sep 2027 →

Changed

All recorded changes →

Material, sourced changes ClearingPost recorded; corrections to its own record are labelled as such

  • Took effectFederal Reserve Operating Circular No. 6 (Fedwire Funds) (January 2026)

    Modernisation initiative: consolidated common terms (termination, access restrictions, recovery, resiliency, testing, fees, information sharing) into Operating Circular No. 5 as the core framework; OC6 now contains only Fedwire Funds-specific terms; redline available against prior February 2025 version

    took effect 5 Jan 2026 · Federal Reservesource ↗
  • Took effectFederal Reserve Operating Circular No. 6 (Fedwire Funds) (February 2025)

    Previous version of Operating Circular No. 6 governing Fedwire Funds Service

    took effect 18 Feb 2025 · Federal Reservesource ↗

Rules & documents

All 2 documents ↓

The rulebooks, operating rules and standards documents ClearingPost holds for Fedwire, current version first

Sources ClearingPost reads Federal Reserve · Authoritative (T1) · 11 of 14 fields carry a source and a recorded date · latest sourced entry recorded 28 Sep 2026 · evidence details ↓

Record · Fedwire

Country
United States (US)
Currency
US Dollar (USD)
Operator
Federal Reserve
Type
RTGS
Operating Window
21:00 (previous day)–19:00 America/New_York · Mon–Fri
Year Established
1918
Daily Volume
$4.6T
Tier?
Tier 1
ISO 20022?
Migrated
Region
Americas
Settlement Type?
Gross
Participants
~6,000
Avg Daily Transactions
917,152 (Q2 2026 avg)
Avg Daily Value
$4.830T (Q2 2026 avg)
Availability
100% (2024)
Notes

Federal Reserve Financial Services announced on August 27, 2026 that the Fedwire Funds Service release planned for November 2026 is rescheduled to November 2027, citing alignment with Swift's postponed November 2026 Standards Release and a coordinated approach with peer market infrastructures. The release includes removal of the unstructured postal address format; scope details and two Saturday production-testing dates are due in fall 2026. July 2026 monthly volume ran below the Q2 2026 quarterly average while total value exceeded June, indicating higher per-transaction values. As of September 2, 2026.

Federal Reserve official website →
Reference Sources
Federal Reserve
Authoritative (T1)Entry recorded Mar 16, 2026
Status →Statistics →Operating Schedule →Rules →
Reference Documents
Federal Reserve Operating Circular No. 6 (Fedwire Funds)operating rules
Federal Reserve · January 2026 · Effective Jan 5, 2026
Latest recorded change

Modernisation initiative: consolidated common terms (termination, access restrictions, recovery, resiliency, testing, fees, information sharing) into Operating Circular No. 5 as the core framework; OC6 now contains only Fedwire Funds-specific terms; redline available against prior February 2025 version

Entry recorded Sep 16, 2026
View document →
CBPR+ Roadmap Beyond November 2025regulatory textExternal reference · SWIFT
SWIFT · June 2026
The document record does not show the Fedwire operator as its publisher and does not name Fedwire, so its dates are not shown as Fedwire dates.
Latest recorded change

Updated CBPR+ roadmap (June 2026 edition) listing November 2026 (SR 2026) milestones: MT101 discontinued, non-compliant formats NAKd, only structured/hybrid postal addresses accepted; November 2027 legacy E&I formats discontinued, full Case Management mandatory; November 2028 MT 940/950/942 and MT 104/190/191 discontinued. On 27 August 2026 Swift applied a controlled extension of Standards Release 2026 that defers all payments changes, including the structured address requirement; Swift will provide an update on structured-address timing by December 2026 at the latest, and non-payments SR 2026 changes go live in Q1 2027.

Entry recorded Jun 5, 2026
View document →
See all RTGS systems →See all systems in United States →ISO 20022 migration status →Payment rails by country →
Products on this rail
Fedwire Funds Transfercredit transfer
Federal Reserve
Other systems in the same country or region
FedACH / NachaACH
United States · USD · Federal Reserve / Nacha
CHIPSRTGS
United States · USD · The Clearing House
FedNowFPS
United States · USD · Federal Reserve
LynxRTGS
Canada · CAD · Payments Canada
EFT / ACSSACH
Canada · CAD · Payments Canada
SPEIHybrid
Mexico · MXN · Banco de Mexico

Operations · Fedwire

Operational monitoring: not configured. ClearingPost does not monitor operational sources for this system and does not assess its current service condition.

Operations lists the systems ClearingPost monitors and the operational events it has recorded.

Intelligence for Fedwire (13)

Coverage whose headline or summary names Fedwire, or names its operator or country together with its system type. Each item quotes that evidence and says whether the source is the Fedwire operator or external.

NewsSep 2, 2026Headline names “Fedwire”
Fed Reschedules Fedwire Funds Service November 2026 Release to November 2027
Fedwire's next message-format update slips twelve months as the Fed lines up with peer market infrastructures on timing.
Operator source · Federal Reserve Financial Services
AnalysisMay 27, 2026Headline names “Fedwire”
Three US Policy Tracks Converge on Non-Bank Access to Fedwire and FedNow
A White House executive order, a Federal Reserve Board rulemaking, and bipartisan legislation are independently advancing non-bank access to Fed payment services, creating the most concrete pressure for structural change since the 2023 master account guidelines.
External source · White House
NewsMay 22, 2026Headline names “Fedwire”
Federal Reserve Proposes Limited Payment Accounts for Non-Bank Access to Fedwire and FedNow
The Board approved the proposal 6-1, with Governor Michael Barr dissenting on grounds that the framework lacks sufficient anti-money laundering safeguards.
External source · American Banker
AnalysisMay 15, 2026Headline names “Fedwire”
Fedwire and CHIPS Both Start Q1 2026 Above 2025 Baselines
First-quarter 2026 data from the Federal Reserve and The Clearing House shows both Fedwire and CHIPS running above their 2025 daily averages, with CHIPS posting stronger relative gains in settled value.
Operator source · Federal Reserve Financial Services
AnalysisMay 8, 2026Summary names “Fedwire”
Baker McKenzie Flags Preemption Gap in PACE Act as Bill Seeks to Open Fed Payment Rails to Non-Banks
H.R. 8395, introduced April 21 by Representatives Kim and Liccardo, would let non-bank firms registered with the OCC access Fedwire, FedNow, and FedACH directly, but lacks an express preemption clause and leaves unclear whether 40-state licensing requirements persist after federal registration.
External source · Baker McKenzie
AnalysisApr 29, 2026Summary names “Fedwire”
Waller Proposes Consolidating Federal Reserve Bank Operations Under Two Models
The Federal Reserve Banks collectively operate the Fedwire Funds Service and FedNow Service as part of their technology infrastructure.
External source · Federal Reserve
AnalysisApr 27, 2026Headline names “Fedwire”
Fedwire and CHIPS Settle Combined $6.9 Trillion Daily in Q1 2026
Q1 2026 data from the Federal Reserve and The Clearing House show both US large-value payment systems running above their 2025 full-year averages. CHIPS volume growth has outpaced Fedwire for the second consecutive year.
Operator source · Federal Reserve Financial Services
NewsApr 22, 2026Headline names “Fedwire”
Bipartisan PACE Act Would Open Fedwire, FedNow, and FedACH to Nonbank Payment Providers
Covered providers must maintain reserves equal to 100% of customer funds. Consumer funds must be segregated from company assets and cannot be reused or placed at risk.
External source · Office of Rep. Sam Liccardo
AnalysisApr 1, 2026Headline names “Fedwire”
Fedwire Joins Global Push for Near-Continuous RTGS Settlement
The Federal Reserve's confirmed expansion of Fedwire to 22 hours per day across six days per week, planned for implementation from 2028, adds the United States to a growing list of jurisdictions extending large-value settlement windows beyond traditional banking hours.
External source · Federal Register
AnalysisMar 26, 2026Headline names “Fedwire”
Fedwire's 22x6 Expansion: Near-Continuous USD Settlement Targeted for 2028-2029
The Federal Reserve's decision to extend Fedwire Funds Service to 22 hours per day, six days per week positions the United States to close structural gaps in global USD settlement availability, with direct implications for CHIPS netting cycles and cross-border payment flows across Asian and European time zones.
External source · Federal Reserve Board
Showing 10 of 13 · View all intelligence →

Wider coverage that mentions Fedwire (11)

These articles mention Fedwire in their text but not in their headline or summary, so they are listed as context rather than as Fedwire intelligence.

RegulationJul 2, 2026Text mentions “Fedwire”
House Financial Services Committee Debates Fintech Access to Federal Reserve Payment Systems
Stripe Vice Chair Eileen O'Mara testified that current frameworks force payment companies into inappropriate regulatory categories. O'Mara argued that direct Fed access would benefit small businesses through faster settlement.
External source · House Financial Services Committee
NewsJun 26, 2026Text mentions “Fedwire”
House Financial Services Committee Debates PACE Act to Open Fed Payment Rails to Nonbanks
Representative Young Kim highlighted the legislation as a payments modernization priority at the hearing.
External source · Office of Rep. Young Kim
AnalysisJun 5, 2026Text mentions “Fedwire”
CHIPS Crosses $2 Trillion in Daily Value as Huntington Joins Network
Huntington National Bank became CHIPS's 43rd direct participant on May 19, 2026, following its merger with Cadence Bank. The network's continuous matching engine now settles payments for 43 clearing members, reducing required prefunding to roughly $96 billion against more than $2 trillion in gross throughput.
External source · The Clearing House
RegulationMay 1, 2026Text mentions “Fedwire”
PACE Act Proposes Direct Federal Reserve Payment Access for Licensed Nonbank Firms
Nonbank payment firms currently route Federal Reserve payment transactions through bank intermediaries. The bill's sponsors cite intermediary markups of up to 100 times the Fed's per-item processing fees.
External source · PYMNTS
RegulationApr 7, 2026Text mentions “Fedwire”
US Treasury Issues First GENIUS Act NPRM as Three-Agency Stablecoin Framework Takes Shape
The US Treasury, OCC, and FDIC are each advancing separate rulemakings to implement the GENIUS Act's payment stablecoin framework, with three comment periods closing between May 1 and June 2, 2026, and the Act's statutory effectiveness deadline of January 18, 2027, now nine months away.
External source · US Department of the Treasury
AnalysisApr 3, 2026Text mentions “Fedwire”
Fed's Kraken Pilot and Payment Account Proposal Redraw US Settlement Access for Nonbanks
The approval of Kraken Financial's limited-purpose master account and a proposed payment account framework represent the Federal Reserve's first concrete steps toward structured nonbank participation in US settlement infrastructure.
External source · Kraken
NewsMar 23, 2026Text mentions “Fedwire”
SWIFT Structured Address Mandate Looms as Industry Surveys Reveal a Third of Payment Providers Unprepared
Industry surveys reveal that only a third of payment service providers are fully prepared for the November 2026 SWIFT CBPR+ structured postal address mandate, while nearly half of banks report that their customer address data remains in legacy unstructured formats. The readiness gap raises operational risk for cross-border payment processing across every major RTGS system that connects to the SWIFT network.
External source · SWIFT
GuideMar 11, 2026Text mentions “Fedwire”
RTGS, ACH, and Fast Payment Systems: A Practitioner's Guide to Payment Rails
RTGS systems settle payments individually (gross) and immediately (real-time) in central bank money.
External source · BIS CPMI
GuideMar 11, 2026Text mentions “Fedwire”
DNS, RTGS, and Hybrid Settlement: How Payment Systems Actually Clear and Settle
Understanding these models is essential for anyone working in payments - whether you are integrating with a new market's infrastructure, evaluating settlement risk, or simply trying to understand why a payment "cleared" but hasn't "settled.".
External source · BIS CPMI
MigrationMar 5, 2026Text mentions “Fedwire”
ISO 20022 Migration Tracker: Who's Migrated, Who's Next
The global payments industry is migrating to ISO 20022. Here's the current status across major RTGS systems, SWIFT, and card networks.
External source · SWIFT
Showing 10 of 11.
Not listed here: 11 tagged articles that do not mention Fedwire. All coverage is in Insights.