ISO^® 20022 Pre-implementation resources archive

Federal Reserve Financial Services provided a host of resources and learning opportunities to help prepare customers for the Fedwire^® Funds Service ISO 20022 migration on the Fedwire Funds Service ISO 20022 Implementation Center.

In order to distinguish between resources that can be leveraged post-migration and information intended to assist financial institutions before July 14, this page serves as a reference archive for pre-implementation resources.

Information that can assist you with sending and receiving ISO 20022 or other payment messages today can be accessed via the Implementation Center. To reference pre-implementation materials, review the resources below.

Contingency resources

In the event that your financial institution is not able to send or receive ISO 20022 messages through the Fedwire Funds Service, please reference the contingency strategies below. For additional assistance, contact the Support Center.

Establish new or validate existing correspondent banking arrangements (e.g., bankers’ bank, corporate credit union) through which you may send and receive payment messages.
Ensure you have sufficient trained staff to send ISO 20022 messages through the FedPayments^® Manager – Funds application via the FedLine Advantage^® Solution (i.e., manual entry message screens or import/upload feature).
Increase staffing for manual processing of payments, including processing by upstream and downstream applications (e.g., ancillary systems like OFAC and fraud screening).
Ensure staff reviews procedures for manually processing incoming messages (e.g., treasury management, posting credits to your customers’ accounts, reconciliation activities).
Explore the use of an ISO 20022 message translation service.

FRFS is providing information on actions to take to prepare for the ISO 20022 transition and potential contingency strategies for your convenience only. Your institution is responsible for developing its own contingency plans, and FRFS assumes no liability if your institution is unable to send or receive ISO 20022 or other payment messages.

Preparedness Checklists

Click the customer profile that applies to you to view curated checklists of action items for the ISO 20022 migration.

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Format documents

Read about the final ISO 20022 message format specifications 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 public and private pages are listed below:

Public page (e.g., Implementation Guide, MyStandards Readiness Portal Guide, Quick Reference Guide, Usage Guidelines)