Fox News reported today:
The Federal Reserve's system that allows wire money transfers crashed with intermittent disruptions for about two hours on Wednesday.
The outage impacted customers, which include banks, brokers and mortgage lenders, and their ability to transfer funds in large and small sums.
"A Federal Reserve operational error resulted in disruption of service in several business lines. We are restoring services and are communicating with all Federal Reserve Financial Services customers about the status of operations," Richmond Federal Reserve spokesperson Jim Strader said in a statement to FOX Business.
Systems were fully restored at 2:57 p.m. ET, according to a notification from the Fed.
"Processing of FedACH files has resumed and customers should receive acknowledgements for incoming files," the Federal Reserve Bank Services website reads. "Please note that the backlog of files may take time to clear and do not resend files."
- More: "BREAKING: Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires"--Daily Mail. This article indicates that the outage began at 11:15 a.m., meaning it was down for closer to three hours. The article also reports: "Other affected systems included FedACH, which generally handles smaller transactions such as paychecks, and The National Settlement Service (NSS), used by depository institutions with Federal Reserve Bank master accounts."
- More: "Federal Reserve banking system back online after nationwide outage"--AJC.
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