WASHINGTON, Aug.29 (Reuters) – The US Federal Reserve will start its serious-time payments process involving May well and July 2023, Fed Vice President Lael Brainard declared Monday.
The technique, dubbed FedNow and declared in 2019, will permit financial institutions to right away transfer cash about the clock as a result of the money program.
Lael Brainard stated the method will support Individuals regulate their cash much more simply and inspired financial institutions to build their personal services for producing quick payments.
(Reportage Pete Schroeder, French variation Laetitia Volga)
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