Beginning today, two U.S.-based payment networks are expected to remain open for business longer.

Fed Wire, the Federal Reserve's high-speed funds transfer system, will move to an 18-hour processing day.

The New York Clearing House's Interbank Payments System will operate on a 16-hour schedule. Both systems had operated on a 10-hour day.

The moves are aimed at reducing foreign exchange settlement risk by accommodating the operating hours of overseas payment systems.

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