As the Fedwire Funds Service’s migration to ISO 20022 has been rescheduled to July 14, 2025, Federal Reserve Financial Services highly recommends that financial institutions use the next few months to enhance their readiness plans, test in the DIT2 environment and participate in peer testing to ensure they are ready for the transition.
DIT2 testing for ISO 20022
All Fedwire Funds Service customers are free to test in the DIT2 environment on Tuesdays and Thursdays to mimic sending production-like traffic in the ISO 20022 message format. As institutions conduct DIT2 testing, they should ensure that downstream systems are processing incoming test messages normally (i.e., ensure funds are credited to the appropriate party and can be processed by compliance systems). No forms are required to test, and there is no need to coordinate DIT2 testing with other institutions.
Peer testing for ISO 20022
Financial institutions can coordinate DIT2 testing with other financial institutions by joining more than 500 participants in the peer testing community. Once you are signed up, you will receive a weekly email with all the testing participants so that you can directly connect with other institutions on the list to coordinate peer testing (e.g., when to test, what to test).
Service provider peer testing
Service providers that interface with the Fedwire Funds Service are required to conduct peer-to-peer testing in the DIT2 environment with their hosted customers no later than May 31. Service providers also can conduct peer-to-peer testing in the production environment.
Other ISO 20022 resources and reminders
Attend a drop-in session: Register for one of the remaining Fedwire Funds Service ISO 20022 Drop-In Sessions and bring questions to ask the Fedwire Funds Service experts.
Attend a FedLine Advantage® training session: Additional FedLine Advantage virtual training sessions will run from April to June and are designed specifically for Subscribers with Funds Managers, Funds Supervisors and Funds Transfer Specialists roles. Eligible individuals should have already received registration materials via email. These sessions will review new outgoing message forms and screens and allow participants to ask questions of ISO 20022 experts.
Review training presentation slides: Due to the sensitive nature of the training materials, these slides can be found only in the FedPayments® Manager – Funds application in all environments (DIT, DIT2 and production). Expand the “General” link and then the “Help” link in the left navigation. Then, go to the “ISO 20022 Quick Reference Guides” section to see the slides.
If you have questions about the Fedwire Funds Service migration to ISO 20022, visit the Implementation Center or contact the Fedwire Funds Service team at Fedwire.Funds.Format@ny.frb.org.
