February 2025: On the Wire – ISO® 20022 Newsletter
New go-live date: July 14, 2025
As previously announced, the Fedwire® Funds Service ISO® 20022 implementation date has been rescheduled from March 10, 2025, to July 14, 2025, to provide customers and vendors additional time to better prepare for the transition to the new ISO 20022 format. The Fedwire Funds Service will remain on the current message format (i.e., Fedwire Application Interface Manual (FAIM) 3.0.7 format) until the close of business on July 11 (i.e., the last day you can send and receive messages in the current FAIM format will be July 11). Please use this additional time to stay focused and continue to prepare for the upcoming ISO 20022 implementation. Note: The reschedule of the ISO 20022 implementation date also applies to the Financial Institution Reconcilement Data (FIRD) Files, Statement of Account Spreadsheet Files (SASF) and the Transaction End-of-Minute (EOM) Detail Reports, all of which will remain on the current format.
The latest Industry Readiness Testing Dashboard is available on the Fedwire Funds Service ISO 20022 Implementation Center. As of February 14, only a small number of FedLine Advantage® import customers in the mandatory testing group are still working to complete their certification testing. Additionally, 126 institutions successfully completed their production certification tests during the January and February testing dates.
New production testing days added
Four additional production testing days have been added to support ISO 20022 testing. These testing days will occur one Saturday per month leading up to the new July go-live date. Additionally, we added two testing days for the FAIM Operational Readiness Test (ORT) to support any new Fedwire Funds Service FedLine Direct® customers (e.g., customers moving to a service provider) as we will remain on the current format until July 14. Please note that customers who successfully complete their FAIM ORT will have 30 calendar days to go live on the FAIM format. Since the last FAIM customer testing date is May 3, this means that new FedLine Direct customers may only go live in the FAIM format through June 2. For questions about production testing, please contact Wholesale Testing Services.
FedLine Advantage attestation still needed
With the new go-live date, you have more time to complete your attestation in FedLine Advantage, but we highly recommend that you complete this step by April 15 or sooner. As a reminder, we need your attestation that you have trained your staff to use the new ISO 20022 screens in FedLine Advantage and that your institution will be able to send/receive ISO 20022 messages beginning July 14. We recommend testing outgoing wires you send today, such as a customer credit transfer (pacs.008) or bank transfer (pacs.009). After you have sent outgoing wires and successfully completed your ISO 20022 message testing, confirm by clicking on the “Complete Attestation” button in the DIT2 test environment.
Continue Testing
We highly recommend that:
- All customers test on Tuesdays and Thursdays to mimic sending production-like traffic in ISO 20022 message formats in the DIT2 environment. As you conduct DIT2 testing, ensure that your incoming messages are processed normally by your downstream system (e.g., funds are credited to the appropriate party and can be ingested by your compliance systems). No forms are required, and there is no need to coordinate with other institutions.
- If you want to coordinate testing with another financial institution, please sign up to join the DIT2 peer testing community, which has close to 500 testing participants. 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).
FedLine Advantage training coming soon
We intend to provide additional virtual training sessions to help customers who are assigned the role of a Funds Manager, Funds Supervisor and Funds Transfer Specialists to learn more about the new ISO 20022 screens, features and functionality, and to have an opportunity to ask questions to our ISO 20022 experts. If you hold one of these roles, we will notify you with additional information about FedLine Advantage training opportunities. In the meantime, please review the training materials available in the “Help” link within the FedPayments® Manager – Funds application.
Drop-in session scheduled for March 26
We will continue to hold drop-in sessions leading up to the new July go-live date so you can ask all your ISO 20022-related questions. To register for the March 26 session or future dates, view our ISO 20022 Education page.
Updated format documents on MyStandards
Updated versions of the following documents have been posted to the public page in the MyStandards® portal:
- Fedwire Funds Service ISO 20022 Quick Reference Guide (February 2025)
- Clarified identifiers that are associated with message retrieval responses (admi.006) and payment status requests (pacs.028)
- Clarified definition and proper use of Originator party in return messages (camt.056, camt.029, pacs.004) and drawdown response (pain.014)
- Provided guidance on drawdown payments
- Provided guidance on how to accommodate tag {6500} FI to FI Information in ISO 20022 format
- Clarified appropriate data that should be included in the Requested Execution Date of the Investigation Request message
Please refer to the Document Change History in each of the documents for an overview of changes.
More information
Please be sure to bookmark the Fedwire Funds Service ISO 20022 Implementation Center so you have access to the latest information about this project (e.g., view on-demand webinars, register for live events) and contact us if you have any specific questions related to this newsletter.