Print Friendly


Conference Announcement: International ACH Developments and Bank Supervision - December 9, 2008


To inform bank supervisory agency representatives regarding Federal Reserve international ACH payment services offerings, NACHA cross-border ACH rules and format developments, and related topics, and to facilitate discussion about the possible implications of these developments for risk-based supervision from operations risk and compliance perspectives across federal banking agencies.


December 9, 2008

Nina Nichols, Board of Governors
Cliff Stanford, Retail Payments Risk Forum, Federal Reserve Bank of Atlanta

Current FedACH International Services
Elizabeth McQuerry, Retail Payments Office, Federal Reserve Bank of Atlanta

  • Overview of payment types and foreign exchange options
  • Service descriptions, destinations, process flows
  • Value to U.S. financial institutions
  • NACHA format and rules
  • Back office integration
  • Questions

New NACHA Cross-Border Rules and Format
Elena Whisler, Retail Payments Office, Federal Reserve Bank of Atlanta

  • Background and purpose of new ACH rules and format
  • Problems with old format and rules
  • Compatibility with other global formats (more inclusive and compliant)
  • Review of high-level format requirements
  • Responsibilities of parties, including GOs
  • Implications of IAT (bilateral payments, more GOs/volume, etc.)
  • Questions

Future Plans
Elizabeth McQuerry, Retail Payments Office, Federal Reserve Bank of Atlanta

  • High-level results of Fed cross-border market research
  • Expansion of FedACH International Services—general outline of new countries, payment types, and channels for more robust global service offering
  • OFAC screen on inbound payments
  • RDFI Tools for IAT
  • Questions

Open Discussion