Payment System Risk

Payment System Risk

Last Updated:08/30/2023

This page provides links to resources that can assist depository institutions in complying with the Federal Reserve Policy on Payment System Risk (PSR policy).

Questions regarding the PSR policy changes may be directed to your local Credit and Risk Management Department staff.  For more information on how to comply with the PSR Policy, please see the resources listed below:

Forms to Opt-out of or Opt-into the Voluntary Real-time Monitoring of Fedwire® Funds Transaction Program

The Federal Reserve Banks offer a voluntary program to domestic depository institutions to help protect against large fraudulent Fedwire® Funds payment activity. The purpose of this program is to provide an additional, optional risk control on Fedwire® Funds transactions. By rejecting Fedwire Funds transactions from processing, we provide the sending institution another opportunity to verify authorization and pre-fund the debit transaction, reducing or limiting the financial risk to the institution and to the Federal Reserve Banks as payment system operators.

If your institution desires to opt out of the Real-time Monitoring program, an individual listed on your institution’s Operating Circular 1 (OC 1) Official Authorization List should complete an Opt Out Submission Form. If your depository institution wishes to opt back into the program, simply complete the Opt In Submission Form.

E-mail and telephone contact information for each Reserve Bank appears in the table below:

Atlanta 888-500-7390
Boston CRMOPS.BOS@BOS.FRB.ORG 800-716-3773
Chicago 800-380-3762
Cleveland 888-719-4636
Dallas 877-682-3256
Kansas City 800-333-2987
Minneapolis 877-837-8815
New York 866-266-5619
Philadelphia 800-372-2011
Richmond 800-526-2036
San Francisco SF.CRM@SF.FRB.ORG 866-974-7475
St. Louis 866-666-8316