Open for Comment: Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through the Fedwire Funds Service and the FedNow Service; Regulation J

Federal Reserve System — The Board is proposing amendments to subpart C of Regulation J (governing the FedNow[supreg] Service) to permit FedNow participants to use intermediaries, other than Reserve Banks, to send funds transfers through the FedNow Service. The Board believes this change could support private-sector cross-border payment solutions by allowing FedNow participants to leverage an intermediary (for example, a correspondent bank) for the international portion of a cross-border transaction and use the FedNow Service for the U.S. domestic portion. (56 days remaining)

Open for Comment: Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through the Fedwire Funds Service and the FedNow Service; Regulation J

Federal Reserve System — The Board is proposing amendments to subpart C of Regulation J (governing the FedNow[supreg] Service) to permit FedNow participants to use intermediaries, other than Reserve Banks, to send funds transfers through the FedNow Service. The Board believes this change could support private-sector cross-border payment solutions by allowing FedNow participants to leverage an intermediary (for example, a correspondent bank) for the international portion of a cross-border transaction and use the FedNow Service for the U.S. domestic portion. (56 days remaining)

Type: comment-period | Source: federalregister.gov


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    "documentNumber": "2026-06996",
    "title": "Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through the Fedwire Funds Service and the FedNow Service; Regulation J",
    "summary": "The Board is proposing amendments to subpart C of Regulation J (governing the FedNow[supreg] Service) to permit FedNow participants to use intermediaries, other than Reserve Banks, to send funds transfers through the FedNow Service. The Board believes this change could support private-sector cross-border payment solutions by allowing FedNow participants to leverage an intermediary (for example, a correspondent bank) for the international portion of a cross-border transaction and use the FedNow Service for the U.S. domestic portion.",
    "agency": "Federal Reserve System",
    "commentsCloseOn": "2026-06-09",
    "daysUntilClose": 56,
    "url": "https://www.federalregister.gov/documents/2026/04/10/2026-06996/collection-of-checks-and-other-items-by-federal-reserve-banks-and-funds-transfers-through-the"
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    "url": "https://www.federalregister.gov/documents/2026/04/10/2026-06996/collection-of-checks-and-other-items-by-federal-reserve-banks-and-funds-transfers-through-the",
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