On March 19, 2021, the new processing window for Same Day ACH will be implemented. As previously announced, the Federal Reserve has approved modifications to National Settlement Service and Fedwire® Funds Service (Off-site) to help facilitate adoption of this later processing and settlement window.

Operating Circular amendments

To support these modifications, effective March 8, 2021, the Federal Reserve Banks are amending Operating Circular 6, Funds Transfers Through the Fedwire Funds Service and Operating Circular 12, Multilateral Settlement. Additionally, effective March 19, 2021, the Federal Reserve Banks are amending Operating Circular 4, Automated Clearing House Items. Please see the Operating Circulars page for more information, including the amended operating circulars, summary of changes and redlined comparison documents.

Your continued use of the Fedwire Funds Service and the National Settlement Service on or after March 8, 2021, and FedACH® Services on or after March 19, 2021, constitutes agreement to amended Operating Circulars 6, 12 and 4, respectively.

Key service changes

March 8:

  • Extend the daily operating hours of NSS to 6:30 p.m. ET from 5:30 p.m. ET
  • Extend the daily operating hours of the Fedwire Funds Service to 7 p.m. ET from 6:30 p.m. ET
  • Reduce the window between the close and reopening of the Fedwire Funds Service to 90 minutes from two hours
  • Increase the threshold for extending the closing of the National Settlement Service and the Fedwire Funds Service to $3 billion from $1 billion

March 19:

  • Add a new, later Same Day ACH processing window to the FedACH Service, with a deadline of 4:45 p.m. ET for originating depository financial institutions (ODFIs) to transmit files to the FedACH Service, a target deadline for distributing files to receiving depository financial institutions (RDFIs) of 5:30 p.m. ET and a target for settlement of items in those files at 6 p.m. ET

These changes are in response to a rule change approved by Nacha voting members to create a third new processing window for Same Day ACH items. The Federal Reserve Banks will make these changes in support of Nacha’s effective date of March 19, 2021.

Additional resources

A third Same Day ACH processing window aligns with the Federal Reserve's ongoing objective to support improvements in the speed, security and efficiency of payment systems in the United States as well as public interest in the greater availability of payment services. More information is available on the Same Day ACH Resource Center.