Posted on 03/15/2023 6:14:25 PM PDT by C210N
Federal Reserve announces July launch for the FedNow Service
For release at 5:00 p.m. EDT
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The Service will Debut with Financial Institutions and the U.S. Treasury on Board
CHICAGO – The Federal Reserve announced that the FedNow Service will start operating in July and provided details on preparations for launch.
The first week of April, the Federal Reserve will begin the formal certification of participants for launch of the service. Early adopters will complete a customer testing and certification program, informed by feedback from the FedNow Pilot Program, to prepare for sending live transactions through the system.
Certification encompasses a comprehensive testing curriculum with defined expectations for operational readiness and network experience. In June, the Federal Reserve and certified participants will conduct production validation activities to confirm readiness for the July launch.
"We couldn't be more excited about the forthcoming FedNow launch, which will enable every participating financial institution, the smallest to the largest and from all corners of the country, to offer a modern instant payment solution," said Ken Montgomery, first vice president of the Federal Reserve Bank of Boston and FedNow program executive. "With the launch drawing near, we urge financial institutions and their industry partners to move full steam ahead with preparations to join the FedNow Service."
Many early adopters have declared their intent to begin using the service in July, including a diverse mix of financial institutions of all sizes, the largest processors, and the U.S. Treasury.
In addition to preparing early adopters for the July launch, the Federal Reserve continues to engage a range of financial institutions and service providers to complete the testing and certification program and implement the service throughout 2023 and beyond. Montgomery noted that availability of the service is just the beginning, and growing the network of participating financial institutions will be key to increasing the availability of instant payments for consumers and businesses across the country.
The FedNow Service will launch with a robust set of core clearing and settlement functionality and value-added features. More features and enhancements will be added in future releases to continue supporting safety, resiliency and innovation in the industry as the FedNow network expands in the coming years.
"With the FedNow Service, the Federal Reserve is creating a leading-edge payments system that is resilient, adaptive, and accessible," said Tom Barkin, president of the Federal Reserve Bank of Richmond and FedNow Program executive sponsor. "The launch reflects an important milestone in the journey to help financial institutions serve customer needs for instant payments to better support nearly every aspect of our economy."
About the FedNow Service The Federal Reserve Banks are developing the FedNow Service to facilitate nationwide reach of instant payment services by financial institutions — regardless of size or geographic location — around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments at any time of day, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Access will be provided through the Federal Reserve's FedLine® network, which serves more than 10,000 financial institutions directly or through their agents. For more information, visit FedNowExplorer.org. Last Update: March 15, 2023
PAPER DEBT MONEY, PART 1
https://www.bitchute.com/video/J25K2rZWPuSr/
PAPER DEBT MONEY, PART 2
https://www.bitchute.com/video/t955nfnXsHUN/
People need to start repeating FedCoin, FedCoin,FedCoin cause it’s about to make its appearance.
I try not to make light of Bible prophecies because so many of them have been fulfilled. How does anyone here think the clot-shots will relate to the Mark of the Beast?
There have been so many things that have been thought/claimed to be part of that prediction (Book of Revelation); census, social security numbers, computers, cell phones, satellites, clot-shots.
I don’t like the Feds having direct access to any of my bank accounts. Would always prefer to have a “wall of separation”.
When new currency is issued you can use that cash to keep your house warm.
Add to your list the hand-implanted chips. Will go hand-in-hand with CBDC. Swipe your hand at the checkout, and your all set to go (assuming your score is high enough).
PMs are your bridge from one financial system to another. If you have significant fiat, you lose in the transition. If you’ve converted to PMs, you can be a player in the next financial system. You don’t “spend” it, you use it.
“Certification encompasses a comprehensive testing curriculum with defined expectations for operational readiness and network experience....”
Combat
“With the FedNow Service, the Federal Reserve is creating a leading-edge payments system that is resilient, adaptive, and accessible,”
FedNowChat BeastMark
You’ll really regret that that when one day, with no warning, paper currency and coinage are deemed worthless. But as someone else said it will be a good home heating solution if you have a fireplace.
Keep gold in a hole in your yard. Arrr! Matey! Pirates are after yer treasure!
Most libtards will think it’s a new brand of cannabis.
How much social credits do you need to get your money?
On another thread, some of us were observing that recently we have not seen any paper currency in circulation with an issue date later than 2017.
Just had a “fresh” stack of crisp 100’s last week.
All marked 2017.
Thank y’all for the explanations. I think I’m suffering from abbreviation fatigue. Too many :)
Consider that DJT "nationalized" the private non-federal FED under the Dept of Treasury in 2020.
Consider that on usDebtClock.org, the M2 money supply is decreasing, and has been for quite a few months now.
The FED URL suffix is .gov now. Was it before 2020? Something to research... I suspect it changed.
CDBCs and Social credit scores mean the end of “/sarc” tags. For example, I could post this:
“I’m concerned the GOP House will defund this Great Leap Forward”
<< social credit score increases, UBI credited >>
The Fed AI won’t recognize my sarcasm there. For a while. But if tag it, I won’t be allowed to eat for a week.
[You’ll really regret that that when one day, with no warning, paper currency and coinage are deemed worthless.]
I agree 100%. They will be deemed worthless “to combat crime, to combat terrorism, etc.”
Just watch.
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