Payment System Risk

Payment System Risk

 

Last Updated: 07.16.2025

 

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

To reduce risk across Federal Reserve Payment Services, the Federal Reserve Banks have allowed certain domestic financial institutions to voluntarily participate in a real-time credit monitoring program (“Real-time Monitoring Program”). Participation in the Real-time Monitoring Program may help mitigate the financial risk of Fedwire® Funds payments that result in an account overdraft, or exceed an institution’s intraday credit capacity pursuant to the PSR Policy. By rejecting Fedwire Funds transactions or preventing certain transactions from being processed, the sending institution has an opportunity to verify authorization and pre-fund the transaction, thereby reducing or limiting the financial risk to the institution.

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:

DISTRICT EMAIL PHONE
Atlanta riskadministration@atl.frb.org 888-500-7390
Boston CRMOPS.BOS@BOS.FRB.ORG 800-716-3773
Chicago credit_risk_management@chi.frb.org 800-380-3762
Cleveland CLEV.X.CRM.Core.Business@CLEV.frb.org 888-719-4636
Dallas dal.psr@dal.frb.org 877-682-3256
Kansas City credit@kc.frb.org 800-333-2987
Minneapolis mpls.credit@mpls.frb.org 877-837-8815
New York Discount.Collateral@ny.frb.org 866-226-5619
Philadelphia phil.credit.risk@phil.frb.org 800-372-2011
Richmond RICH.SRC.PSR@rich.frb.org 800-526-2036
San Francisco SF.CRM@SF.FRB.ORG 866-974-7475
St. Louis psr@stls.frb.org 866-666-8316