Federal Reserve Seeks Feedback on Draft FedNowSM ISO 20022 Message Specifications

The Federal Reserve is seeking feedback from interested FedNowSM Community members on proposed FedNow ISO 20022 message implementation specifications. Interested individuals or organizations will have an opportunity to review the proposed specifications, which were informed by the Fed-convened industry ISO 20022 Working Group, and provide written feedback/survey responses directly to the FedNow team.

Participant form submission is now closed – those who expressed interest will be contacted directly by the Federal Reserve.

Participant forms from community members will be accepted through Tuesday, Nov. 10, with the intent of sharing ISO specification documentation with the individual/organization for review on Monday, Nov. 16. Final written comments are due to the Federal Reserve by Friday, Dec. 11.

Multiple members from an organization are welcome to provide feedback, but please designate a single point of contact to represent the organization in the final response.

Learn more about the ISO 20022 Working Group, including “release 1” specifications scheduled to publish first quarter 2021.

Need more information?

The Federal Reserve is committed to ongoing transparency, inclusivity and collaboration with the industry on payments improvement. If you have any questions, please reach out to us at SYSFedNowWorkGroup@chi.frb.org.

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