July 20, 2023

S&P Global

More efforts needed to make FedNow, RTP interoperable, Clearing House CEO says

The Federal Reserve and The Clearing House Payments Co. LLC will have to put in more work to make their two real-time payment rails work with each other, Clearing House President and CEO David Watson said in an interview.

The Clearing House, a banking association and payments company owned by 22 of the largest US commercial banks, launched the RTP network in 2017. The Federal Reserve Board said July 20 that its FedNow platform was fully live with 35 early adopter US banks and credit unions.

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