Payment System Risk

Last Updated: April 1, 2021

This page provides links to resources that can assist depository institutions in complying with the Federal Reserve Policy on Payment System Risk (PSR policy).

The following revisions to the PSR policy, effective July 23, 2015, are designed to enhance the efficiency of the payment system by aligning the PSR posting rules more closely with current operations for automated clearing house (ACH) debit transactions and commercial check transactions and strategically position the rules for future advancements in the speed of clearing and settlement. The Federal Reserve Board amended the PSR policy to:

• Move the posting time for ACH debit transactions to 8:30 AM ET from 11:00 AM ET to align with the posting of ACH credit transactions.  
• Establish new posting times for commercial check credits and debits at 8:30 AM ET, 1:00 PM ET, and 5:30 PM ET.

Questions regarding the PSR policy changes may be directed to your local Credit and Risk Management Department staff.  For more information on how to comply with the PSR Policy, please see the resources listed below:

• Account Management Guide
• Frequently Asked Questions
• Learn about the Account Management Information System (AMI)
• Payment System Risk Policy documents

Forms to Opt-out of or Opt-into the Voluntary Real-time Monitoring of Fedwire® Funds Transaction Program

The Federal Reserve Banks offer a voluntary program to domestic depository institutions to help protect against large fraudulent Fedwire® Funds payment activity. The purpose of this program is to provide an additional, optional risk control on Fedwire® Funds transactions. By rejecting Fedwire Funds transactions from processing, we provide the sending institution another opportunity to verify authorization and pre-fund the debit transaction, reducing or limiting the financial risk to the institution and to the Federal Reserve Banks as payment system operators.

If your institution desires to opt out of the Real-time Monitoring program, an individual listed on your institution’s Operating Circular 1 (OC 1) Official Authorization List should complete an Opt Out Submission Form. If your depository institution wishes to opt back into the program, simply complete the Opt In Submission Form.

E-mail and telephone contact information for each Reserve Bank appears in the table below: