In September 2018, the NACHA voting membership approved a new, third same-day ACH processing and settlement window. To allow for the implementation of this new window, the Federal Reserve Board proposed extending NSS and Fedwire operating hours. The Clearing House strongly supports the Board’s proposed changes in a comment letter stating that the changes are necessary for the third same-day ACH window, and that expanded same-day ACH options would benefit both consumers and businesses, especially those on the west coast who would have new options for making same-day ACH transfers. The Clearing House expects that financial institutions will be able to manage the risks associated with the proposed changes (i.e., end-of-day compression between NSS/Fedwire cutoffs and closings, an increased risk of Fedwire reopening delays) and that the benefits of expanded same-day ACH outweigh these new risks. However, TCH also encouraged the Board to monitor these risks and consider additional changes if needed.
Download the full comment letter here.