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Contact:
lindsay.conley@x9.org
| | This Week at ASC X9 - September 29, 2025 | | |
This newsletter is sent out each week and includes scheduled meetings for a two-week period along with all open ballots, results of ballots that closed in the prior week and important notices. Please let us know if you have any comments or suggestions.
To view our recent newsletters and press releases, click here.
Scheduling a Meeting Call or the X9 Conference Space
When scheduling an X9 WebEx call or reserving the X9 conference space, please contact Lindsay Conley. Lindsay is responsible for scheduling and tracking these X9 resources. Also, if you have any problems with an X9 WebEx call, please send email to admin@x9.org.A direct and compelling headline
| | | Weekly Briefing of X9 Events | |
X9 Financial PKI
The X9 public website continues to be updated with new information about the X9 Financial PKI work. For more details, please visit our public website at www.x9.org and look under the menu item "X9 Financial PKI."
Production X9 Financial PKI products are now available for purchase from Digicert. See our X9.org web site for links to DigiCert for more details or to download the current use cases.
PQC UAT Certificates Are Here
On September 10, 2025, DigiCert and X9 held a signing ceremony to establish the first Post-Quantum Cryptography (PQC) root certificate designed specifically for the financial industry. This marks a major milestone in securing digital communications against future quantum computer attacks. User Acceptance Testing (UAT) certificates are now available, enabling organizations to test real quantum-safe PKI functionality in practical scenarios and prepare for production environments For details, please contact X9 Staff or DigiCert.
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How a US Government Shutdown Could Affect Financial Markets.
The risk of a partial U.S. government shutdown is increasing due to a congressional funding impasse, potentially impacting financial markets by limiting regulators' operations and delaying economic data like employment and inflation reports. This could force the Federal Reserve to rely on its projections, possibly leading to two 25-basis-point rate cuts in 2025, and steepen the Treasury yield curve. The SEC and CFTC would operate with skeletal staff, reducing market oversight and delaying reports, while banking regulators remain functional. A shutdown would also freeze IPOs, affecting equity capital markets, as companies require SEC approval to go public.
Why it matters for FIs/X9 members: Shutdowns threaten operational continuity in oversight and capital raising, directly hitting underwriting fees and compliance workflows for banks. Members must fortify liquidity buffers and scenario planning to mitigate yield curve distortions and delayed filings, preserving market access and investor trust during political gridlock.
URL: Reuters
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Fed's Williams Says Cutting Rates Aimed at Bolstering Job Market
John C. Williams, President and CEO of the Federal Reserve Bank of New York, supported cutting interest rates due to signs of weakness in the labor market. Speaking in Rochester, N.Y., he stated that lowering rates would reduce restrictiveness to bolster the job market while maintaining some pressure on high inflation. Earlier, the Fed reduced its target rate range by a quarter percentage point to 4%-4.25%. This move aims to support employment while addressing inflation, with implications for the banking sector including potential impacts on lending and economic growth.
Why it matters for FIs/X9 members: This policy shift directly influences banks' net interest margins and lending practices, as lower rates could stimulate borrowing demand but compress profitability on deposits. Financial professionals must adjust portfolios and risk models to anticipate softer economic conditions, ensuring compliance with evolving Fed guidance on employment stability amid persistent inflation risks.
URL: Reuters
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Fed Governor Waller's Speech on the Next Frontier of Payments Innovation
Governor Christopher J. Waller, speaking at Sibos 2025 in Frankfurt, discussed payments innovation, emphasizing its relevance to banks. He highlighted technologies like distributed ledgers, tokenized assets, smart contracts, and AI, which could enhance payment efficiency, reduce costs, and improve cross-border transactions. Waller noted stablecoins as a new private money form, complementing bank deposits, and fostering competition. He discussed DLT platforms potentially improving upon the correspondent banking model for faster, cheaper cross-border payments, and AI automating compliance. The Federal Reserve aims to support innovation through research and industry engagement, ensuring safety and resilience in the financial system, while addressing risks in tokenized deposits and programmable payments.
Why it matters for FIs/X9 members: Bankers can explore these innovations to modernize payment systems, potentially lowering costs and expanding services like cross-border transfers. X9 members, responsible for U.S. payment standards (e.g., X9.37 for image cash letters), gain insights into integrating DLT and AI, influencing future standards development to promote secure, efficient payment infrastructures amid regulatory evolution.
URL: The Federal Reserve
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European Banks Unite to Launch Euro Stablecoin
UniCredit, along with eight major European banks including ING and CaixaBank, has formed a consortium to launch a euro-denominated stablecoin, regulated under the EU's MiCA framework, with issuance planned for mid-2026. This stablecoin, leveraging blockchain, aims to establish a trusted European payment standard, facilitating fast, secure, and low-cost transactions for retail and corporate users, including 24/7 cross-border payments. The initiative addresses the lack of a EUR-native digital payment rail in Europe, dominated by US stablecoins, and will enable banks to offer services like stablecoin wallets, enhancing Europe's financial sovereignty and payment ecosystem while complying with stringent regulations.
Why it matters for FIs/X9 members: U.S. bankers should watch this for cross-Atlantic implications on stablecoin adoption in payments, potentially informing competitive strategies in digital assets. X9 members, focused on global payment standards interoperability (e.g., ISO 20022 via X9), can draw parallels to advocate for U.S. frameworks, ensuring seamless integration and regulatory alignment in blockchain-based payments.
URL: UniCredit
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X9 Fall Board & Consensus Body Meetings
The X9 Fall 2025 Board meeting will be here soon. Ambria has sent out notices for the Board and the Consensus Body meetings. This the schedule of events:
- Consensus Body: Tuesday, October 28, 2025, from 1pm to 5pm.
- Board: Wednesday, October 29, 2025, from 9am to 1pm.
These will be a hybrid meetings with those able to attend in-person meeting in the X9 Annapolis Conference Room and the rest by WebEx. There will also be a Board dinner on Tuesday night. Please let staff know whether you plan to attend, and indicate if you’ll join in person or virtually.
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Webinar on Branded Indicators for Message Identification (Email Security)
Brand impersonation and phishing attacks remain a persistent threat to financial services, with fraudulent emails exploiting both user trust and systemic weaknesses in digital identity. As email continues to be a core communication channel in the sector, implementing authenticated brand indicators is no longer optional—it’s a strategic security imperative.
This webinar explored how Verified Mark Certificates (VMC), when used in combination with email authentication protocols such as SPF, DKIM, DMARC, and BIMI, form a layered defense to reduce fraud, protect brand integrity, and enhance user trust. VMCs provide cryptographic assurance that logos displayed in email clients are validated and controlled by the brand owner.
If you missed the Webinar:
Click here to View the Recording of the Webinar
PS: X9 is currently converting to this method of sending emails. A number of our bank members have already converted.
| | Schedule of X9 & ISO Meetings | | |
9/29/25 – Monday
9/30/25 – Tuesday
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PCI PIN Mirror Group Call; 3:00pm - 4:30pm EDT (Cancelled)
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USDA EBT Industry Forum; 3:00pm - 4:30pm EDT
10/1/25 – Wednesday
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X9F4 - X9.84 Biometric Meeting; 11:00am - 12:00pm EDT
10/2/25 – Thursday
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X9A4 QR Code Payment Workgroup Meeting; 12:00pm - 1:00pm EDT
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Quantum Computing Risk SG Meeting; 3:00pm - 4:00pm EDT
10/3/25 – Friday
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X9C2 B2B Virtual Purchase Card WG; 1:00pm - 2:00pm EDT
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10/6/25 – Monday
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TR 60 Project Meeting; 10:00am - 11:00am EDT
10/7/25 – Tuesday
10/8/25 – Wednesday
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EC Conference Call: 11:00am - 12:30pm EDT
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X9F4 - X9.111 Pen Test Meeting; 11:00am - 12:00pm ET
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X9F4 Monthly Meeting; 1:00pm - 2:00pm ET
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X9F1 Monthly Meeting; 2:00pm - 3:00pm ET
10/9/25 – Thursday
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M&M Conference Call; 12:00pm - 1:0pm EDT
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AI Study Group Meeting; 3:00pm - 4:00pm ET
10/10/25 – Friday
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9/29/25 – Monday
9/30/25 – Tuesday
10/1/25 – Wednesday
10/2/25 – Thursday
10/3/25 – Friday
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TC68 TAG FinTech; 10:00am EDT
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10/6/25 – Monday
10/7/25 – Tuesday
10/8/25 – Wednesday
10/9/25 – Thursday
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TC68/TG1 Communications; 9:00am EDT
10/10/25 – Friday
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SC9 TAG Call; 10:30am EDT
| | Open Ballots: (Click the hyperlinks to vote) | | |
X9/US Ballots
X9 Board Ballots (Category "A" Members)
X9 Consensus Body Ballots (Category "A" Members)
X9A Ballots
X9B Ballots
X9C Ballots
X9D Ballots
X9F Ballots
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ISO Ballots (Category "A" members)
U.S. TAG to ISO TC68
U.S. TAG to TC68/SC9 & ISO 20022 RMG
U.S. TAG to ISO TC68/SC8
U.S. TAG to TC68/SC2
| | Results of Ballots that Closed Last Week: (Click the hyperlinks for more information.) | | |
X9/US Ballots
X9 Board Ballot Results (Category "A" Members)
X9 Consensus Body Ballot Results (Category "A" Members)
X9A Ballots Results
X9B Ballot Results
X9C Ballot Results
X9D Ballot Results
X9F Ballot Results
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ISO Ballots (Category "A" members)
U.S. TAG to ISO TC68
US TAG to TC68/SC9/ISO 20022 RMG
US TAG to TC68/SC8
US TAG to TC68/SC2
U.S. TAG to ISO TC321
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Industry Forums and Study Group Ballots
| | Recently Published X9 Standards, Documents and Press Releases | |
Accredited Standards Committee X9
275 West Street, Suite 107
Annapolis, MD 21401
410-267-7707
Email All Staff: admin@x9.org
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