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.

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