The road to adoption of ISO 20022 in the USA
The market infrastructure operators in the U.S. – the Federal Reserve Banks and The Clearing
House – have developed plans and a preliminary timeline for implementing ISO 20022 message formats for the Fedwire Funds Service and CHIPS beginning in 2020. Representatives from the Federal Reserve, TCH and other members of the U.S. Stakeholder Group will present the rollout plan, including the scope of the initiative, the approach for implementation and the timing of key milestones. The U.S. has also developed mapping initiatives to incorporate ISO 20022 messaging into the low value/ACH payment network. We will present these initiatives, as well as preview additional work that will be done to assess market requirements for adoption of ISO 20022 messaging in the low value payment infrastructures.