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.
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.©Standard Gazette, 2021. Unauthorized use and/or duplication of this material without express and written permission from this site’s publisher is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Standard Gazette with appropriate and specific direction to the original content.