National Settlement Service
The National Settlement Service is a multilateral settlement service owned and operated by the Federal Reserve Banks. The service is offered to depository institutions that settle for participants in private-sector clearing and/or settlement arrangements. The settlement agent designated by the settling participants within the arrangement, electronically submits settlement files to the Federal Reserve Banks. Files are processed upon receipt with debit and credit entries posted to the settling participants’ designated Federal Reserve Bank master account. These entries are final and irrevocable when made.
Discover how the National Settlement Service can benefit your financial institution
- Reduces the duration of settlement risk for participants in private-sector clearing arrangements by providing same-day finality.
- Permits the automated submission of settlement files through FedLine Advantage® or a computer interface connection.
- Provides you with national settlement capability via standardized processes as settling participants may be located in any Federal Reserve District.
- Improves operational efficiency by eliminating the need to send individual Fedwire funds transfers.
- Learn more about the National Settlement Service by viewing the product sheet (PDF)
Current operating hours for the National Settlement Service are 7:30 a.m. to 5:30 p.m., ET. Files submitted prior to 7:30 will be queued for processing at the opening.
To start using this service, visit National Settlement Service Setup, call P: (800) 758-9403 or contact your account executive.
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