Several operational deadlines to change on March 8

On March 8, 2021, Catalyst Corporate will extend three 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.

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 questions regarding Catalyst Corporate’s deadline changes, please contact Catalyst Corporate Member Services at 800.442.5763, option 1.