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Fed Payment System Crashed

US TSYS

CNBC reports "Federal Reserve's system that allows financial institutions to send money back and forth electronically went down Wednesday afternoon."

  • The interruption impacted multiple Fed services, including its pivotal automated clearinghouse system, which connects depository and related institutions send electronic credit and debt transfers.
  • Along with the Fed ACH service, other systems impacted included the Check 21, FedCash, Fedwire and the national settlement service.
  • "The Federal Reserve Bank staff is currently investigating a disruption to multiple services. We will continue to provide updates as soon as they are available," the Fed said in a statement.
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