USA: The Federal Reserve Board on Wednesday, December 21, 2022 issued technical changes to its policy governing the provision of intraday credit in accounts at the Federal Reserve Banks, a FRB statement said.
These significant 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 in the businesses.
According to the Board, the FRB updates will be effective on January 30, 2023.
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