Fedwire is a Real Time Gross Settlement Funds Transfer system operated by the Federal Reserve Banks that enables financial institutions to electronically transfer funds between its more than 9,289 participants (as of March 19, 2009)[1]. In conjunction with the privately held Clearing House Interbank Payments System (CHIPS), Fedwire is the primary United States network for large-value or time-critical domestic and international payments, and it is designed to be highly resilient and redundant. The average daily value of transfers over the Fedwire Funds Service in 2007 was approximately $2.7 trillion, and the daily average number of payments was about 537,000.[2]
See also
- CHAPS the United Kingdom's equivalent to Fedwire
- Clearing House Automated Transfer System (CHATS) - Hong Kong's RTGS system
- SUCRE (currency) a proposed electronic currency for Alternativa Bolivariana para las Américas (ALBA)
References
- ^ Fedwire Participant Directory
- ^ The Federal Reserve Board, Fedwire Funds Service Annual Data (2007).
External links
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