Fedwire® Funds Service ISO® 20022 Implementation Center
On June 27, 2022, the Board of Governors of the Federal Reserve System (Board) announced (Off-site) in a Federal Register notice (Off-site) that the Federal Reserve Banks will adopt the ISO 20022 message format for the Fedwire Funds Service in a single-day implementation strategy on March 10, 2025. With this implementation, the Federal Reserve Banks will sunset the existing proprietary Fedwire Application Interface Manual (FAIM) format and replace all FAIM messages with ISO 20022 messages.
Federal Reserve Banks will help ensure everyone involved in preparing for the Fedwire Funds Service ISO 20022 single-day implementation on March 10, 2025 is well prepared.
The On the Wire newsletter provides everything you need to know about the multi-year Fedwire® Funds Service ISO 20022 migration project. We’ll help you prepare and get ready for the single-day implementation on March 10, 2025!
The Federal Reserve Banks will provide three ISO 20022 testing environments to ensure that the Fedwire Funds Service community is well-prepared for the single-day ISO 20022 implementation on March 10, 2025.
Industry Preparedness Dashboard
We have established a new depository institution testing (DIT2) environment to support dedicated ISO 20022 testing. In 2023, Fedwire Funds Service customers and service providers that have their own FedLine Direct® connection will be required to set up a new set of MQ queues to access DIT2 by September 30, 2023. We are onboarding this group of customers and service providers in waves to DIT2 and will report on the status of the entire group according to the milestone dates and targets as described in the DIT2 Onboarding Dashboard (PDF).
Note: In late 2023, we plan to provide Fedwire Funds Service customers that use the FedPayments® Manager – Funds application via the FedLine Advantage® solution to send and receive Fedwire Funds Service messages a new URL to access the DIT2 environment. No additional onboarding is required.
Fedwire ISO 20022 Preparedness Checklist
We have created a checklist to help you prepare for the Fedwire Funds Service ISO 20022 migration. Select the checklist that applies to your FedLine® solution.
- Checklist for participants that use the FedLine Direct® solution as their primary solution (PDF)
- Checklist participants that use the FedLine Advantage® solution as their primary solution (PDF)
Fedwire ISO 20022 Format Documents
The final ISO 20022 message format specifications have been published on the Fedwire Funds Service page on SWIFT’s MyStandards platform (Off-site). The use of MyStandards is free and does not require SWIFT membership but users will need a valid swift.com login ID and password to access the MyStandards platform.
- Instructions to gain access to the Fedwire Funds Service page on MyStandards (PDF)
To prepare for the migration, the Federal Reserve Banks are working directly with software vendors that provide products designed to interface with the Fedwire Funds Service. The list is provided as a convenience for Fedwire Funds Service participants only. The Federal Reserve Banks DO NOT endorse any particular vendor or vendor product.
The Federal Reserve Banks are committed to providing the information you need related to the ISO 20022 implementation for the Fedwire Funds Service. Visit the frequently asked questions to find answers to the questions that you may have.
Learn more about how the Federal Reserve Banks reached the plan to adopt ISO 20022 messages for the Fedwire Funds Service.