On September 13, 2018, three new rules were approved by the Nacha (Off-site) voting membership to expand the capabilities of Same Day Automated Clearing House (ACH). One of the rules would create a third new processing window to allow originating depository financial institutions (ODFIs) to submit Same Day ACH files until 4:45 p.m. ET with settlement at 6 p.m. ET.

A third same-day ACH window aligns with the Federal Reserve's ongoing objective to support improvements in the safety and efficiency of payment systems in the United States as well as public interest in greater availability of payment services. However, in order for the Federal Reserve Banks to facilitate adoption of this later Same Day ACH processing and settlement window, potential modifications to our other financial services would be required. Specifically:

  • Extending the closing of the National Settlement Service (NSS) by one hour to 6:30 p.m. ET
  • Extending the cutoff time for Reserve Bank accountholders to initiate transfers on behalf of third parties via the Fedwire® Funds Service (Fedwire Funds third-party cutoff) by 45 minutes to 6:45 p.m. ET
  • Extending the closing of the Fedwire Funds Service by 30 minutes to 7 p.m. ET

As is policy with any proposed changes to Federal Reserve Financial Services that would have significant longer-run effects on the nation’s payment system, the Federal Reserve Board (Board) published a Federal Register Notice (Notice) (Off-site) on May 9, 2019, requesting public comment on these potential modifications from all payments participants, including wire, NSS and ACH, regardless of size.

The Notice seeks feedback on how your institution and customers would use a later same-day ACH window, and if you would use expanded hours of NSS and Fedwire Funds for purposes unrelated to the later same-day ACH window. The Notice also seeks feedback on the potential risks, costs and changes to internal processes your institution may face due to the compression of end-of-day processing activities, decreased availability of extensions to operating hours and more frequent delays to the reopening of the Fedwire Funds Service. The Board will use your answers to these questions as it is considering Nacha’s proposed implementation date of March 19, 2021.

How to comment

The Board is seeking feedback through July 15, 2019. We encourage interested payments participants to provide comments via the following options:

  • Board website: Follow the instructions for submitting comments on the Proposals for Comment (Off-site) page
  • Email: Send an email to regs.comments@federalreserve.gov and include the docket number, OP-1664, in the subject line of the message
  • Fax: (202) 452-3819 or (202) 452-3102
  • Mail: Ann E. Misback, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue, N.W., Washington, DC 20551


In issuing the Notice, the Board is not committing to any specific actions at this time or in the future, but is committing to transparent communication with the public after reviewing the responses to this Notice and determining next steps.