Operational Error Disrupts $3trillion daily transaction in US – Federal Reserve

US Federal Reserve announced that an “operational error” disrupted services in several of its business lines, including the electronic settlement system used by banks, businesses, and government agencies to execute some $3 trillion in transactions per day.

Fed claimed that an “operational error” had occurred and said it is working to restore services and communicate with customers.

Federal Reserve

Banks, businesses and government agencies rely on Fedwire to transfer vast sums of money around the US banking system.

Meanwhile, the U.S. Federal Reserve system was restored after the outage. Though the issue has been resolved at the Federal Reserve level, it appears that exchanges have not fully resolved the issue on their end and are still experiencing delays.

All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law. For permission requests, write to the publisher, addressed “Attention: Permissions Coordinator,” at ehi@tstga.com.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More