The Clearing House Payments Company L.L.C. (TCH) today submitted comments on the Federal Reserve’s proposal to expand Fedwire® Funds Service and National Settlement Service (NSS) operating hours to weekends and holidays. In its letter, TCH makes clear that:

1. It supports expanding Fedwire hours because, among other reasons, expanded Fedwire hours would improve liquidity management for TCH’s RTP® network and potentially for its CHIPS® network too; and
2. It does not support expanding NSS hours at this time.

The letter also outlines several issues identified by TCH members that the Federal Reserve should consider as it contemplates expanded Fedwire hours.

A copy of the letter may be found here.

“RTP” and “CHIPS” are registered service marks of The Clearing House Payments Company L.L.C. “Fedwire” is a registered service mark of the Federal Reserve Banks.