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Cards Wire 7 segments
ABN American Bankers Association — newsroom Source document ↗
United States American Bankers Association — newsroom Markets & Infrastructure ✓ 11 claims 28 Oct 2026

ABA backs Nacha proposal to formally define 'banking day' in ACH rules

Nacha has proposed writing a formal definition of 'banking day' into its operating rules, replacing reliance on whether a bank is physically open. ABA's comment letter backs the change, arguing it modernizes how settlement timing is measured across the ACH Network. Relevant for payments and operations teams tracking ACH rule changes.

  • Nacha proposed defining 'banking day' as a calendar day other than a Saturday, Sunday or federal banking holiday in the United States.
  • The proposal would replace references to 'date' with 'banking day' in the definition of 'settlement date'.
  • The term 'business day' would be eliminated from that section of Nacha's rules.
  • ABA submitted a letter urging Nacha to adopt the proposal, citing greater certainty, consistency and operational fairness.
  • Current practice relies on an understanding that 'banking day' means Monday through Friday excluding federal holidays, according to Nacha.
Source document
ABN American Bankers Association — newsroom Source document ↗
United States American Bankers Association — newsroom Markets & Infrastructure ✓ 18 claims 28 Oct 2026

Eighth Circuit strikes down Fed's debit card interchange fee cap

A federal appeals court has struck down the Federal Reserve's 15-year-old Regulation II, which capped debit card interchange fees. This affects how banks with over $10 billion in assets calculate swipe fees, and the Fed must now rewrite the rule. Compliance and payments teams should track the Fed's response.

  • The Eighth U.S. Circuit Court of Appeals struck down the Fed's Regulation II debit card interchange fee structure, adopted in 2011.
  • The ruling upholds a lower court decision from August 2025 in which Judge Daniel Traynor found the Durbin Amendment bars the Fed from considering costs beyond incremental authorization, clearance or settlement.
  • Under the current rule, institutions with more than $10 billion in assets can collect 21 cents per debit transaction plus 0.05% of the transaction amount and an additional cent for fraud prevention.
  • The court ordered the Fed to rewrite the rule because it improperly allowed banks to include costs such as fraud prevention in swipe fee calculations.
  • A separate federal appellate court is considering similar questions in the Linney's Pizza case, where the district court upheld the Fed's rule.
Source document
BNM Bank Negara Malaysia Source document ↗
Bank Negara Malaysia Markets & Infrastructure ✓ 26 claims 20 Oct 2026

Bank Negara mandates interoperable payments and bans proprietary QR schemes by June 2028

Bank Negara Malaysia has replaced its 2019 Interoperable Credit Transfer Framework with a broader regime covering account-to-account transfers, QR purchases and cross-border payments. It routes mandatory traffic through the shared infrastructure operated by PayNet, outlaws proprietary QR schemes, opens access to non-bank regulated entities and codifies consumer protection obligations. Most provisions bind from 30 June 2026, with phased deadlines beyond.

  • The framework takes effect on 30 June 2026 and supersedes the Interoperable Credit Transfer Framework issued on 23 December 2019.
  • Banking institutions and eligible e-money issuers must not operate proprietary QR code schemes and must fully phase out existing schemes by 30 June 2028, onboarding no new merchants during the transition.
  • Financial institutions must offer eligible domestic fund transfers up to RM5,000, funded from current, savings or e-money accounts, free to senders or recipients.
  • Operators of the shared payment infrastructure must grant objective, non-discriminatory, risk-based access, including to non-BNM-regulated entities, verified by independent external assessment.
  • Cross-border A2A and QR purchase obligations (paragraphs 9.3, 9.4, 9.8, 9.11) are tied to the live operationalisation date of the Nexus scheme, to be announced by BNM.
Source document
BNM Bank Negara Malaysia Source document ↗
Bank Negara Malaysia Markets & Infrastructure ✓ 19 claims 19 Oct 2026

Bank Negara finalises interoperable fund transfer rules, bans proprietary QR schemes

Bank Negara Malaysia has issued the final Interoperable Fund Transfer Framework policy document alongside a statement responding to industry feedback on the 2025 exposure draft. The segment covers the prohibition of proprietary QR schemes, the mandatory routing of transactions through the shared payment infrastructure, and the mandatory enablement of cross-border services. Payments and compliance teams at participating institutions should understand what is now fixed and what remains under discussion.

  • Proprietary QR code schemes are prohibited, with a two-year transition period for affected institutions to migrate to the interoperable scheme.
  • Participants must enable both domestic and cross-border services, with the cross-border mandate's effective date aligned to the Nexus go-live timeline.
  • Both on-us and off-us fund transfers via the QR code scheme must route through the shared payment infrastructure to support fraud detection and response.
  • The P2M interoperable QR mandate applies only to participants offering QR-based purchase services to the retail segment, including consumers and merchants.
  • Non-bank cross-border fund transfer services generally fall under the Money Services Business Act 2011, with BNM formalising a list of excluded businesses.
Source document
BNM Bank Negara Malaysia Source document ↗
Bank Negara Malaysia Markets & Infrastructure ✓ 25 claims 19 Oct 2026

BNM reissues RENTAS foreign-currency settlement procedures, effective 1 September 2026

Bank Negara Malaysia has published the latest consolidated operational procedures for foreign-currency settlement in RENTAS, the country's real-time gross settlement system. The document sets out membership types, access channels, business hours, cut-off times, settlement finality and queue management for participants settling in supported foreign currencies. The live change in this version is cosmetic, but the consolidated text is now the operative reference for operations teams.

  • Version 1.8 takes effect 1 September 2026 and its sole substantive change replaces the signatory title 'Head' with 'Director' across nine appendices and participant forms.
  • Foreign-currency settlement runs 8.30am to 6.00pm, with cut-off times of 5.30pm for RMB and 6.00pm for USD, and all unsettled queued instructions cancelled at cut-off.
  • Participants using cloud-based SWIFT access (SAL2 or SAC) must submit an annual declaration to BNM by 31 January covering CSCF attestation and RMiT cloud compliance.
  • Paying participants must transmit payment instructions to RENTAS Host within 30 minutes of a customer instruction, except transactions failing regulatory, sanction or AML screening.
  • Participants requesting a cut-off extension acknowledge BNM may publicly disclose all information pertaining to the request.
Source document
BNM Bank Negara Malaysia Source document ↗
Bank Negara Malaysia Markets & Infrastructure ✓ 19 claims 19 Oct 2026

BNM revises RENTAS retail-settlement balance rules and FRPS+ charges from 1 September

Bank Negara Malaysia has reissued the Operational Procedures for MYR settlement in RENTAS, effective 1 September 2026. Version 1.9 is a narrow but operationally material update touching the Near Real Time Settlement module's balance mechanics, third-party payment messaging and the fee schedule. If you run treasury or payments operations against a RENTAS settlement account, these changes affect intraday funding and cost.

  • Version 1.9 takes effect on 1 September 2026 and binds all RENTAS participants under section 35 FSA and section 45 IFSA.
  • Clause 38.15 revises the NRTS minimum-balance mechanism and calculation formula and updates the maximum-balance threshold.
  • Appendix II adds sweep-in and sweep-out charges and updates effective charges for FRPS+ utilisation and FRPS+ Overnight Charges.
  • Guideline I on MYR Third Party Payments adds guidance on the usage of IFT04 in pacs.009.001.08.
Source document
BOE Bank of England Source document ↗
United Kingdom Bank of England Markets & Infrastructure ✓ 29 claims 15 Oct 2026

Bank of England's Money Markets Committee backs phased extension of RTGS and CHAPS hours

The Money Markets Committee met on 25 September 2026 and reviewed sterling funding conditions, the proposed leverage ratio changes and the Bank's plan to extend RTGS and CHAPS settlement hours toward near 24x7. This segment covers what members supported, the operational frictions they raised, and the contingency and Code workstreams flagged for later in the year.

  • Feedback to the May 2026 RTGS/CHAPS consultation was broadly supportive, with respondents favouring extending existing operating days before adding further operating days.
  • Members welcomed the FPC's proposed leverage ratio changes but said it was difficult to predict any near-term material increase in balance-sheet deployment in UK money markets.
  • The next Sterling Money Markets Code update is planned for 2027, and EUI's proposed MiniCREST cyber contingency will return to the December meeting.
Source document