Advisory Groups
Advisory groups provide input on Federal Reserve Financial Services (FRFS) to help address the needs of customers and the industry.
Table of Contents
- Fedwire® Funds Service: Wholesale Payments Advisory Group
- Fedwire Securities Service: Wholesale Securities Customer Advisory Group
Wholesale Payments Advisory Group
FRFS sponsors the Wholesale Payments Advisory Group (WPAG) to provide a mechanism for ongoing communication and collaboration between FRFS and a representative sample of depository institutions that are major users of the service. The WPAG is chaired by the FRFS officer in charge of the Fedwire Funds Service. It typically meets four times a year and serves as a forum that enables FRFS and Service Participants to discuss ongoing operation and use of the service, future service enhancements, needs for market standards (e.g., market conventions for using the service, and relevant legal or regulatory developments).
| Organization |
|---|
| Alloya Corporate FCU |
| Bank of America |
| Citigroup |
| City National Bank |
| HSBC Bank USA |
| Jack Henry & Associates, Inc. |
| JPMorgan Chase |
| MUFG |
| PNC Bank |
| State Street Bank and Trust Corporation |
| The Bank of New York Mellon |
| The Northern Trust Company |
| Truist |
| UBS |
| US Bank Corporation |
| Wells Fargo Bank |
Wholesale Securities Customer Advisory Group
FRFS sponsors the Wholesale Securities Customer Advisory Group (WSCAG), whose membership is drawn from Fedwire Securities Service participants, including issuers, financial institutions and certain market infrastructure firms. The WSCAG is chaired by the officer in charge of the Fedwire Securities Service. It meets at least two times a year to inform FRFS about trends, developments, conditions, and practices in the issuance, clearing, and settlement of Fedwire securities. The WSCAG serves as a forum for participants in the Service to provide FRFS with input and feedback on existing and potential service offerings and, where necessary and appropriate, input and feedback on the Reserve Banks’ efforts to improve industry practices for the security, efficiency, or effectiveness of issuance, clearing, and settlement services.
| Name | Title | Organization |
|---|---|---|
| Chris Burke, Chair | Head of Product Strategy, Fedwire Securities Service | Federal Reserve Financial Services |
| Kevin Autrey | Vice President | Fannie Mae |
| Willy Bloom | Vice President | US Bank |
| David Copenhaver | Assistant Commissioner | U.S. Department of the Treasury |
| Gary Cushman | Executive Director | JPMorgan Chase Bank, N.A. |
| John Diagostini | Head of US Operations, Broker Dealer Services | The Bank of New York Mellon |
| Chris Harper | Director | Federal Home Loan Banks |
| Jim Hraska | Managing Director | Fixed Income Clearing Corporation |
| Matthew Leach | Vice President | Wells Fargo |
| José Santarelli | Vice President | State Street Bank and Trust Company |
| Lynn Sawyer | Vice President | Freddie Mac |
| Stewart Spettel | Director of Operations | Ginnie Mae |
| Chris Wagner | Associate Director | BMO Harris Bank |
