Fed aims for real-time interbank settlement of faster payments
Brainard points to “growing gap” in US transaction capabilities
The US Federal Reserve is seeking public comment on measures to develop an around-the-clock, real-time interbank settlement system for faster payments.
The central bank is open to views on two actions to develop more efficient and secure instant payments. One is extending the capabilities of its real-time gross settlement system to offer a constantly-operating service, 365 days a year. It is also looking for comments on creating a liquidity management tool to support the settlement services
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