Board of Governors of the Federal Reserve System

Pursuant to the provisions of the Privacy Act of 1974, notice was given that the Board proposes to modify an existing system of records, BGFRS–14 “FRB—General File of Federal Reserve Bank and Branch Directors.” More... This system of records enables Board staff to develop, implement, and communicate the Board’s program regarding Federal Reserve Bank and Branch directors including the appointment of Class C directors and Board-appointed Branch directors; the eligibility, conduct, and service of all directors; the composition of Reserve Bank and Branch boards; and the interactions among the Board and the Federal Reserve Bank and Branch directors. The modified system of records is effective April 16, 2026, without further notice, unless comments dictate otherwise (Rules Regarding Access to Personal Information under the Privacy Act of 1974, Systems of Records of the Federal Reserve System). The modified system of records was published in the Federal Register on March 17, 2026.

The Board is proposing amendments to subpart C of Regulation J (governing the FedNow^® Service) to permit FedNow participants to use intermediaries, other than Reserve Banks, to send funds transfers through the FedNow Service. More... The Board believes this change could support private-sector cross-border payment solutions by allowing FedNow participants to leverage an intermediary (for example, a correspondent bank) for the international portion of a cross-border transaction and use the FedNow Service for the U.S. domestic portion. Comments on this notice of proposed rulemaking must be received by June 9, 2026 (Docket R-1891).