Fed to expand operational hours for two large payments systems beginning in 2028

Sundays and weekday holidays will now be open for transactions through two of the central bank’s largest payments services, starting no earlier than 2028, the agency said late Thursday.

The Fedwire (R ) Funds Service (FFS) and the National Settlement Service (NSS), the Federal Reserve said, will both see their operations schedules expand. Now, both FFS and the NSS operate Monday through Friday, excluding holidays.

Under the new schedule – which won’t take effect for another three years — the Fed said the Reserve Banks will operate both services Sunday through Friday, including weekday holidays. The operating hours each day will remain the same, with the FFS open 22 hours per day, and NSS open 21.5 hours per day.

The Fed said the reason for the delay in implementation over several years is that the agency wants to ensure operational and industry readiness.

“Moving forward, the Board will monitor demand for a potential further expansion of operating hours to seven days per week,” the agency noted. “If the Board decides in the future to propose such an expansion, it will seek public comment in a new proposal.”

The agency noted that the new schedule does not affect the Fedwire Securities Service or the Federal Reserve’s retail services including FedACH or FedNow (R ) Service.

Federal Reserve Board announces expanded operating days of two large-value payments services, Fedwire® Funds Service and the National Settlement Service (NSS), to include Sundays and weekday holidays