Update! New Extended Remittance Information Reporting
On November 21, 2011, the Federal Reserve Bank implemented a new message format to support extended-character business remittance information. CHIPS also modified its payment message format in support of ERI business by providing the ability for banks to enter 8994 characters of remittance related data in either structured or unstructured formats. Please refer to the ‘Members Only’ Reference section of this site for detailed specifications and guides.
In order to further support the adoption and growth in use of the ERI format, CHIPS has dedicated a portion of the CHIPS.org web site to ERI Reporting and Updates.
The 2012 CHIPS ERI Report of Extended Wire Remittance payment statistics can be found on the About CHIPS, Statistics page.
CHIPS Rules and Administrative Procedures (updated March 2013)
Questions and answers prepared by representatives of member banks of the Wolfsberg Group and The Clearing House Association L.L.C.
NOTICE: FRAUDULENT WEBSITE
The Clearing House has discovered a fraudulent website that substantially duplicates its CHIPS site. The fraudulent site is not associated with CHIPS, The Clearing House or any of its businesses.
CORE PRINCIPLES SELF-ASSESSMENT
CHIPS has published its Self-Assessment under the Core Principles of Systemically Important Payment Systems. These Core Principles were developed by the Bank for International Settlements’ Committee on Payment and Settlement Systems, and have been adopted by the Federal Reserve Board and incorporated into the Fed’s policy on payments-system risk. We have posted our Self-Assessment and invite your review.