Fedwire® Funds Service ISO® 20022 Testing Requirements
We will provide three ISO 20022 testing environments to help ensure that the Fedwire Funds Service community is well-prepared for the single-day ISO 20022 implementation on March 10, 2025. Given the large number of customers, service providers and software vendors we need to support for ISO 20022 testing, we developed the following testing requirements using a risk-based approach. For questions about the testing requirements, please contact us at Fedwire.Funds.Format@ny.frb.org.
- MyStandards Readiness Portal Testing (Available since March 2023)
- Prerequisite for DIT2 certification
- Depository Testing Environment (DIT2) Testing (Available Mid-December 2023)
- Service providers and software vendors that have existing Fedwire Funds Service customers must complete DIT2 certification by April 30, 2024
- Fedwire Funds Service customers must complete DIT2 certification by December 31, 2024 (we highly encourage you to complete your testing by October 31, 2024 to ensure you meet this deadline and allow the last two months for retests)
- Opt-in peer testing (PDF) for FedLine Direct connection owners
- FedPayments Manager — Funds manual entry attestation
- Saturday Production “Dress Rehearsal” Testing (Select Saturdays in January-February 2025 to be announced in Q4 2024)
- Must complete DIT2 certification as a prerequisite
- Mandatory testing group to be notified directly in second half of 2024
Note: The test script for each environment, the Testing Attestation Form for the MyStandards Readiness Portal testing, the Testing Attestation Form for the FedPayments Manager — Funds manual entry requirement, and Testing Attestation Form for the Saturday Production testing are available in MyStandards. No attestation form will be required for DIT2 testing; confirmation of testing will be completed by the Wholesale Testing Services.
Industry Readiness Testing Dashboard
We will track and report on the progress of each mandatory testing group against key milestones and begin publishing the Industry Readiness Testing Dashboard in Q1 2024.