The Federal Reserve Board on Wednesday issued technical updates to its policy governing the provision of intraday credit in accounts at the Federal Reserve Banks.
In particular, the updates include a new rule establishing settlement times for debits and credits to institutions' Federal Reserve accounts for certain transactions. The updates streamline the settlement process and shorten the time needed for debits and credits to settle. More information about the relevant transactions can be found here.
The updates are effective on Jan. 30, 2023.
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