As announced on June 18, FRFS will move forward with implementing the new ISO 20022 message format on July 14, as planned.

The Fedwire Funds Service’s ISO 20022 software and production infrastructure will remain unchanged. It is recommended that customers and vendors continue to test and verify their internal procedures through July 11.

Between now and the service close on July 11, ensure that you review all the action items outlined in the curated preparedness checklist found at the Read More link below that best applies to your institution.

Click Read More below for the complete Fed360 article.