Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Federal Reserve announces July launch for the FedNow Service (Can you say "CBDC"? I knew you could!)
The Federal Reserve ^ | 3/15/23 | Federal Reserve

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

Share

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


TOPICS: Breaking News; Business/Economy; Crime/Corruption; Government
KEYWORDS: bidenregime; bidenvoters; cbdc; centralbank; christienoth; currency; digital; digitalcoin; digitalcurrency; fed; federalreserve; fedline; fednow; fednowexplorer; fedscam; worthlessjoe
Navigation: use the links below to view more comments.
first previous 1-2021-4041-48 next last
To: WKUHilltopper

PAPER DEBT MONEY, PART 1

https://www.bitchute.com/video/J25K2rZWPuSr/

PAPER DEBT MONEY, PART 2

https://www.bitchute.com/video/t955nfnXsHUN/

21 posted on 03/15/2023 7:47:37 PM PDT by Dick Bachert (CONS)
[ Post Reply | Private Reply | To 17 | View Replies]

To: C210N

People need to start repeating FedCoin, FedCoin,FedCoin cause it’s about to make its appearance.


22 posted on 03/15/2023 7:49:24 PM PDT by dpetty121263
[ Post Reply | Private Reply | To 1 | View Replies]

To: C210N

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”.


23 posted on 03/15/2023 8:10:20 PM PDT by Honest Nigerian
[ Post Reply | Private Reply | To 1 | View Replies]

To: Prince of Space

When new currency is issued you can use that cash to keep your house warm.


24 posted on 03/15/2023 8:13:35 PM PDT by Honest Nigerian
[ Post Reply | Private Reply | To 9 | View Replies]

To: Honest Nigerian

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).


25 posted on 03/15/2023 9:29:17 PM PDT by C210N (Everything will be okay in the end. If it’s not okay, it’s not the end.)
[ Post Reply | Private Reply | To 23 | View Replies]

To: MV=PY

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.


26 posted on 03/15/2023 9:31:57 PM PDT by C210N (Everything will be okay in the end. If it’s not okay, it’s not the end.)
[ Post Reply | Private Reply | To 19 | View Replies]

To: C210N

“Certification encompasses a comprehensive testing curriculum with defined expectations for operational readiness and network experience....”

Combat


27 posted on 03/15/2023 9:33:57 PM PDT by Varsity Flight ( "War by🙏🙏 the prophesies set before you." I Timothy 1:18. Nazarite prayer warriors. 10.5.6.5)
[ Post Reply | Private Reply | To 1 | View Replies]

To: C210N

“With the FedNow Service, the Federal Reserve is creating a leading-edge payments system that is resilient, adaptive, and accessible,”

FedNowChat BeastMark


28 posted on 03/15/2023 9:35:57 PM PDT by Varsity Flight ( "War by🙏🙏 the prophesies set before you." I Timothy 1:18. Nazarite prayer warriors. 10.5.6.5)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Prince of Space

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.


29 posted on 03/15/2023 9:44:54 PM PDT by steve86 (Numquam accusatus, numquam ad curiam ibit, numquam ad carcerem™)
[ Post Reply | Private Reply | To 9 | View Replies]

To: steve86
>>You’ll really regret that that when one day, with no warning, paper currency and coinage are deemed worthless.

I'll always accept payment in gold or silver. Until the day I die.

30 posted on 03/15/2023 10:23:18 PM PDT by Garth Tater (September 11: The New Pearl Harbor -- on Rumble and Youtube)
[ Post Reply | Private Reply | To 29 | View Replies]

To: C210N

Keep gold in a hole in your yard. Arrr! Matey! Pirates are after yer treasure!


31 posted on 03/15/2023 11:11:44 PM PDT by Eleutheria5 (Every Goliath has his David. )
[ Post Reply | Private Reply | To 1 | View Replies]

To: C210N

Most libtards will think it’s a new brand of cannabis.


32 posted on 03/15/2023 11:51:22 PM PDT by rfp1234 (E Porcibus Unum )
[ Post Reply | Private Reply | To 1 | View Replies]

To: C210N

How much social credits do you need to get your money?


33 posted on 03/16/2023 12:09:03 AM PDT by NetAddicted (MAGA2024)
[ Post Reply | Private Reply | To 1 | View Replies]

To: steve86; Prince of Space
You’ll really regret that that when one day, with no warning, paper currency and coinage are deemed worthless.

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.

34 posted on 03/16/2023 12:15:04 AM PDT by thecodont
[ Post Reply | Private Reply | To 29 | View Replies]

To: thecodont

Just had a “fresh” stack of crisp 100’s last week.

All marked 2017.


35 posted on 03/16/2023 1:21:15 AM PDT by SPDSHDW (Ya’ll knew he was installed via fraud, and chose to do nothing. Enjoy the roller coaster ride.)
[ Post Reply | Private Reply | To 34 | View Replies]

To: C210N; Drago

Thank y’all for the explanations. I think I’m suffering from abbreviation fatigue. Too many :)


36 posted on 03/16/2023 1:36:27 AM PDT by upchuck (When you never took the vaccine or boosters: Still alive and healthy with no chance of side effects.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: thecodont
we have not seen any paper currency in circulation with an issue date later than 2017. ..

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.

37 posted on 03/16/2023 1:50:17 AM PDT by C210N (Everything will be okay in the end. If it’s not okay, it’s not the end.)
[ Post Reply | Private Reply | To 34 | View Replies]

To: C210N

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.


38 posted on 03/16/2023 1:52:48 AM PDT by ReaganGeneration2
[ Post Reply | Private Reply | To 1 | View Replies]

To: EBH
Again, I say there will eventually be a World Digital Currency.

Prior to that, I expect Digital Currencies to be in virtually every nation.

How long before the EU has a common Digital Currency? Or do they already?

The world is not "there" yet - but it will come in the middle of the 7 years of 'Peace and Security' - there will be NO way to Buy and Sell without the Mark of the Beast - If all transactions are 100% digital and cash of any sort is outlawed (useless) then it gives the control necessary.

Another step closer.



And right in the middle of the 7 years, after 1,260 days:


39 posted on 03/16/2023 4:31:35 AM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
[ Post Reply | Private Reply | To 4 | View Replies]

To: steve86

[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.


40 posted on 03/16/2023 4:35:55 AM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
[ Post Reply | Private Reply | To 29 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-48 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson