Federal Reserve Stretches Wire Transfer Hours to 22 Daily
Published Date: 11/17/2025
Notice
Summary
The Federal Reserve is boosting the hours for its Fedwire Funds Service to 22 hours a day, six days a week, starting around 2028 or 2029. The National Settlement Service will also run almost as long, helping banks move money more flexibly, even on holidays. This change supports faster payments and the U.S. dollar’s role worldwide, with a future goal of running 22 hours every day, all year long.
Analyzed Economic Effects
7 provisions identified: 2 benefits, 2 costs, 3 mixed.
Fedwire and NSS expanded daily hours
The Fed will run the Fedwire Funds Service 22 hours per day, six days a week (Sunday through Friday, including weekday holidays). The National Settlement Service (NSS) will run 21.5 hours per day, six days a week and will close 30 minutes earlier than Fedwire each business day.
Concrete daily schedule and maintenance window
Under the new schedule, Fedwire will open at 9:00 p.m. Eastern Time (ET) on the calendar day before a business day and close at 7:00 p.m. ET on the business day, leaving a weekly 26-hour weekend downtime from Friday 7:00 p.m. ET to Saturday 9:00 p.m. ET for maintenance. NSS will follow the same daily hours but close 30 minutes earlier than Fedwire.
Participation stays optional (opt-out model retained)
The Reserve Banks will keep the existing optional participation model: banks and other participants are not required by the Fed to be open during all expanded hours and may opt out of processing during certain hours.
Future expansion possible after two years
The Board may offer an additional expansion up to 22x7x365 no sooner than two years after Reserve Banks implement 22x6 operations; the Board would publish a new proposal and seek public comment before doing so.
Exploring expanded discount window days
The Federal Reserve is exploring whether to expand discount window operating days in connection with expanded Fedwire hours and will do outreach to stakeholders to understand benefits and costs for institutions of various sizes.
Small and midsize banks face staffing and cost concerns
Many small and midsize banks and individuals opposed the broader 22x7x365 idea, saying expanded hours would raise staffing, automation, and operational costs and could widen competitive gaps with large banks.
NSS expansion could prompt ACH/check processing changes
Commenters warned that expanding NSS hours could enable additional settlement windows for private-sector ACH and check networks and might lead those networks or their participants to expand processing days, potentially compelling participants to operate on weekends.
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