The Federal Reserve has announced updates to its Policy on Payment System Risk that will align its procedures for measuring institutions' intraday account balances with NACHA’s same-day ACH rule. The rule – which takes effect in September – requires financial institutions to have same-day ACH capability.
Beginning on Sept. 23, credits and debits for same-day ACH credit transactions will post at 1:00 p.m. and 5:00 p.m. ET, depending on when the ACH file is received by the Reserve Banks for processing. All ACH return items will post at the next available posting time or following the settlement of the associated forward transaction. Credits and debits for return items will post at 8:30 a.m., 1:00 p.m., 5:00 p.m., or 5:30 p.m. ET, depending on when they are received by the Reserve Banks.