2. Fedwire Maintenance

Fedwire Funds Service is a real-time, gross settlement (RTGS) payment system of USA. It processes each RTGS payment initiated by the Fedwire Member bank on an individual basis and settles it immediately upon receipt. Settlement of funds is immediate, final and irrevocable, as in a RTGS system in any other country. Along-with NACHA ACH and CHIPS, it is a critical domestic payment system in the US.

High-lights of Fedwire Payments Module

2.0.1 Fedwire Network Preferences

You can capture Network Preferences for Fedwire Network in this maintenance screen.

You can invoke the “Fedwire Network Preferences” screen by typing ‘PWDNWPRF’ in the field at the top right corner of the application toolbar and clicking the adjoining arrow button. Click new button on the Application toolbar.

Specify the following fields:

Network Code

Specify a network code of the Fedwire network.

Network Description

Specify description of the Fedwire network.

Host Code

Displays the Host code assigned to of the branch selected by the logged in user.

Transaction Type

Specify if the Fedwire Network preferences are being specified for transaction type is Outgoing or Incoming transaction type.

Exchange Rate Preference

FX Rate Type

Specify the FX Rate Type from the list of values.

External Exchange Rate Applicable

Check this box to indicate that fetching External Exchange Rate is applicable.

Cutoff

Funds Transfer CutOff Hours

Specify the Cutoff hours for Funds Transfer of Type code 10.

Funds Transfer CutOff Minutes

Specify the Cutoff Minutes for Funds Transferof Type code 10.

Foreign Transfer CutOff Hours

Specify the Cutoff hours for Foreign Transfers to foreign central banks and international organizations i.e. fund transfers of Type code 15.

Foreign Transfer CutOff Minutes

Specify the Cutoff Minutes for Foreign Transfers to foreign central banks and international organizations.

Settlement Transfer CutOff Hours

Specify the Cutoff hours for Settlement Transfers between Direct Fedwire members i.e. fund transfers of Type code 16.

Settlement Transfer CutOff Minutes

Specify the Cutoff Minutes for Settlement Transfers between Direct Fedwire members.

Service Start Time

Service Start Time Hour

Specify the start time in hours of the Fedwire business day.

Service Start Time Minute

Specify the start time in minutes of the Fedwire business day.

2.0.2 Viewing Fedwire Network Preferences Summary

You can view the summary in “Fedwire Network Preferences Summary” screen. You can invoke the Fedwire Network Preferences Summary screen by typing ‘PWSNWPRF’ in the field at the top right corner of the Application toolbar and clicking on the adjoining arrow button.

You can search for the records using one or more of the following parameters:

Once you have specified the search parameters, click ‘Search’ button. The system displays the records that match the search criteria. You can view the following details:

2.0.3 Fedwire Network Currency Preferences

You can capture Network Currency Preferences for Fedwire Network.

You can invoke the “Fedwire Network Currency Preferences” screen by typing ‘PWDNCPRF’ in the field at the top right corner of the application toolbar and clicking the adjoining arrow button. Click new button on the Application toolbar.

Specify the following fields:

Network Code

Select the network code of the logged in user from the available list of values for the Host.

Network Description

This field is auto-populated based on the network code selected.

Host Code

Displays the Host code assigned to of the branch selected by the logged in user.

Transaction Type

Select the type of transaction for which the Fedwire Network preferences are being specified. The options are:

Transfer Currency

Select the required currency from the list of available currencies for the Fedwire network.

Limit Details

Minimum Amount

Specify the minimum amount for a Fedwire payment.

Maximum Amount

Specify the maximum amount for a Fedwire payment.

Pricing Details

Transaction Pricing Code

Select the Pricing code from the list of available Pricing codes.

Accounting Codes

Debit Liquidation

Specify the template for Debit Liquidation from the list of available accounting templates. You can select the template from the option list. The list displays all the accounting templates maintained in the system.

Credit Liquidation

Specify the template for Credit Liquidation.

Dispatch/Receipt Accounting

Specify the template for Dispatch/Receipt Accounting from the list of available accounting templates.

Small FX Limit

Small FX Limit Currency

Select the required currency from the list of available currencies for specifying the Small FX Limit.

Small FX Limit Amount

Specify the amount for the Small FX Limit.

Authorization Limit

Authorization Limit 1

Specify the amount limit above which the transaction will need first level of authorization.

Authorization Limit 2

Specify the amount limit above which transaction will need second level of authorization in addition to first level of authorization.

2.0.4 Viewing Fedwire Network Currency Preferences Summary

You can view the summary in “Fedwire Network Currency Preferences” screen. You can invoke the Fedwire Network Currency Preferences screen by typing ‘PWSNCPRF’ in the field at the top right corner of the Application toolbar and clicking on the adjoining arrow button.

You can search for the records using one or more of the following parameters:

Once you have specified the search parameters, click ‘Search’ button. The system displays the records that match the search criteria. You can view the following details in here: