This article was updated on June 24, 2024, to reflect the new comment period end date.
On May 3, 2024, the Federal Reserve Board announced (Off-site) in a Federal Register notice (Off-site) that it requests comments on a proposal to expand the operating days of the Fedwire Funds Service and the National Settlement Service (NSS) to include weekends and holidays.
Currently, both the Fedwire Funds Service and NSS operate Monday through Friday, excluding holidays. Under the proposal, both services would operate every day of the year. The operating hours each day would remain the same, with the Fedwire Funds Service open 22 hours per day, and NSS closing 30 minutes earlier, open 21.5 hours per day. Use of the expanded operating days by service participants would be voluntary.
The Board requests comments from across the industry on the proposal, including benefits, potential costs and risks. On June 21, 2024, The Board of Governors announced (Off-site) that the comment period will be extended until September 6, 2024.
How do I submit a comment?
You may submit comments, identified by Docket No. OP-1831, by online submission or email (see below buttons) or by fax at (202) 452-3819 or (202) 452-3102. When submitting comments by email or fax, include the docket number in the subject line of the message.
For information on submitting comments, please visit the Guide to Requesting Records or Information (Off-site).
