National Settlement Service
The National Settlement Service is a multilateral settlement service owned and operated by the Federal Reserve Banks. The service is offered to depository institutions with Federal Reserve Bank master accounts that settle for participants in clearinghouses, financial exchanges and other clearing and settlement arrangements. The settlement agent, acting on behalf of the depository institutions that settle for participants in a settlement arrangement, electronically submits to the processing Federal Reserve Bank settlement files that list the debit and credit entries to be made to the depository institutions’ master account. Settlement files are processed upon receipt. Settlers benefit because the credits to their master accounts are final and irrevocable.
Discover how the National Settlement Service can benefit your financial institution
- Allows for settlement of interbank obligations in central bank money.
- Reduces the duration of settlement risk for participants in private-sector clearing arrangements by providing same-day finality.
- Permits the automated submission of settlement files through FedLine Advantage® or FedLine Direct.
- Improves operational efficiency by eliminating the need to send individual Fedwire® Funds Service messages.
- Learn more about the National Settlement Service by viewing the product sheet (PDF)
Current operating hours for the National Settlement Service are 7:30 a.m. to 5:30 p.m., ET. Files submitted prior to 7:30 a.m. will be queued for processing at the opening.
To start using this service, visit National Settlement Service Setup, call Central Services Support Staff at P: (800) 758-9403 or contact your account executive.
