(From The Daily Mail)
The Federal Reserve payment systems used to settle transactions between U.S. financial institutions has suffered a massive disruption due to an ‘operational error’.
The system used by U.S. banks to execute some $3 trillion in transactions daily began suffering outages at around 11.15am Eastern time on Wednesday, and remained down for more than three hours.
The Fed’s system that allows banks to send money back and forth went down for several hours
The “operational error,” as the Fed described it, impacted multiple services, including its pivotal automated clearinghouse system, which connects depository and related institutions sending electronic credit and debt transfers.
There were no initial indications that foul play was suspected.
Click this link for the original source of this article.
This content is courtesy of, and owned and copyrighted by, https://www.ac2news.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.