The Fed's system that allows banks to send money back and forth went down for several hours
The outage impacted multiple Fed services, including its pivotal automated clearinghouse system.
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The Federal Reserve’s system that allows financial institutions to send money back and forth electronically went down Wednesday morning.
The “operational error,” as the Fed described it, impacted multiple services, including its pivotal automated clearinghouse system, which connects depository and related institutions send electronic credit and debt transfers.
There were no initial indications that foul play was suspected.
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The list of services impacted: Account Services, Central Bank, Check 21, Check Adjustments, FedACH, FedCash, FedLine Advantage, FedLine Command, FedLine Direct, FedLine Web, Fedwire Funds, Fedwire Securities, National Settlement.