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US Fed says restoring disrupted Fedwire, other services - February 24, 2021

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  • US Fed says restoring disrupted Fedwire, other services - February 24, 2021


    Fed says restoring disrupted Fedwire, other services

    By Reuters Staff

    2 MIN READ


    snip

    The affected services form the hidden backbone to the U.S. banking system, facilitating check clearing and allowing billions of dollars of payments to flow daily through the financial system.

    Fedwire is “the premier electronic funds-transfer service that banks, businesses and government agencies rely on for mission-critical, same-day transactions,” the Fed says.

    Fedwire Funds in December handled more than 835,000 transactions a day on average, with a daily average dollar volume of $3.4 trillion.

    https://www.reuters.com/article/us-u...-idUSKBN2AO2I1
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