The Fed proposes an always-on settlement system for faster payments — Digital Transactions — “The new proposal has two major facets. One outlines the RTGS plan for settlement of payments every day at all times. The other involves a so-called liquidity tool the Fed says could increase banks’ participation in a real-time system by limiting exposure that can arise outside of business hours. The general idea behind both is to reduce the risk from providing funds to payment recipients before settlement has actually occurred.”