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CBAI Encourages Participation in Faster Payments Assessment

CBAI is encouraging Illinois community bankers to provide critical feedback as the Federal Reserve considers its role in faster payments. The Fed is hosting a series of town hall meetings on facilitating real-time interbank settlement of faster payments and a liquidity management tool to support settlement services. Learn More About Faster Payments.

The town hall meetings begin next week in each of the Fed’s 12 regional districts. At these meetings, Fed representatives will provide an overview of the conceptual approaches, answer questions and facilitate stakeholder discussions. Register for Town Hall Meetings.

Also, the Fed is now accepting comments on its role in the future of faster payments. CBAI encourages Illinois community bankers to weigh-in on the importance of the Fed in providing fair and impartial access to the payments system for financial institutions of all sizes and charter types. Comments are due to the Fed by December 14th. See Instructions for Commenting.

CBAI has been actively engaged in representing the interest of community banks with Fed meetings in Chicago and St. Louis as well as sending detailed recommendations to the Fed and various other banking agencies highlighting the need for the Fed to play a leading role in payments system improvements. Read Article on Payments Forum. See CBAI Letter to the Fed.