Central Banking

US Fed to expand ACH payment system to Latin Am

Atlanta Fed officials have said the Federal Reserve's ACH payment system will be expanded to include a Latin American country in 2004, but the Atlanta retail payments office did not reveal the country due to disclosure rules.

Source: Business News Americas

The US federal reserve system (Fed) will expand its bank-to-bank ACH payment system to Latin America this year and next year to reduce the cost of remittances and to improve cross-border payment efficiency, officials from the Atlanta federal