Catalyst News

Catalyst Corporate Extends Three Operational Deadlines in March

by Catalyst Corporate | Feb 16, 2021

On March 8, 2021, Catalyst Corporate will extend several operational deadlines to align with modifications to the Federal Reserve Banks’ National Settlement Service and Fedwire® Funds Service that take effect that same day.

Deadlines will be extended 30 minutes later in the day for the following three Catalyst Corporate services: 1) domestic outgoing wires, 2) sweeps to the Federal Reserve’s Excess Balance Account (EBA) and 3) share transfers between the Cash Management Account (CMA) and the Performance Tiered Account (PTA). Each deadline will change from its current time of 4 p.m. Central Time to the new time of 4:30 p.m. Central Time.

CCFCU Deadline Changes

The Federal Reserve is making modifications to its National Settlement Service and Fedwire Funds Service to support Nacha’s adoption of a third and later Same Day ACH processing and settlement window, which takes effect on March 19, 2021. The Federal Reserve’s March 8 implementation date will allow the Federal Reserve to test and implement their modifications before Nacha’s new rule becomes effective.

If you have any questions, please contact Catalyst Corporate Member Services at 800.442.5763, option 1.