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Federal Reserve Board : facilitate real-time interbank settlement of faster payments.. xRapid?


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This sounds a lot like a Ripple product..

https://www.federalreserve.gov/newsevents/pressreleases/other20181003a.htm

Views are being sought on two potential actions that may support the further development of faster payments in the United States while increasing the resiliency and security of services offered to the public:

1) the development of a service for real-time interbank settlement of faster payments 24 hours a day, seven days a week, 365 days a year (24x7x365); and

2) the creation of a liquidity management tool that would enable transfers between Federal Reserve accounts on a 24x7x365 basis to support services for real-time interbank settlement of faster payments, regardless of whether those services are provided by the private sector or the Federal Reserve Banks. The Board is not committing to any specific action and is seeking input on which, if any, actions the Federal Reserve should take

Comments are due by December 14, 2018.

Keep in mind this https://ripple.com/insights/federal-reserve-task-force-ripple-improves-speed-transparency-global-payments/, they already got the tick of approval..

Edited by bryce
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Sorry if this has already been posted, but the Fed is looking for public opinion over 16 different possible solutions including Ripple. These solutions include TCH and others. No decision yet. You can see all the proposals here: https://fasterpaymentstaskforce.org/effectiveness-criteria-and-solution-proposals/

Some keen observers on Twitter pointed out, our tweets don't matter, we need to contact them via one of the following:

1. Email

2. Website 

3. Post

4. Fax

You'll find this information in this link. 

https://www.federalreserve.gov/newsevents/pressreleases/other20181003a.htm

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