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Payments that flow through the system are settled immediately with a bank’s Federal Reserve account and are irrevocable.",[436],{"start":437,"end":438,"type":439,"data":440},133,148,"hyperlink",{"link_type":441,"url":442,"target":443},"Web","https:\u002F\u002Fwww.federalreserve.gov\u002F","_blank",{"type":427,"text":445,"spans":446},"“The single biggest thing that ISO 20022 will do for Fedwire is align it with many of the other payment systems around the world,” said Sullivan. She noted that “there is a fairly significant portion” of Fedwire volume that either originates, or ends up, overseas. Most of those payments flow through the SWIFT network. SWIFT, for the most part, now supports the ISO 20022 standard.",[447],{"start":448,"end":449,"type":439,"data":450},305,310,{"link_type":441,"url":451,"target":443},"https:\u002F\u002Fwww.swift.com\u002F",{"type":427,"text":453,"spans":454},"None of this is to say that there have not been some challenges. 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