The Fedwire Funds Service, owned and operated by the Federal Reserve Banks, provides a centralized, electronic, real-time, gross settlement system (RTGS). RTGS means that the Fedwire application processes and settles transactions individually as they occur. Participants use Fedwire to send payments to other Fedwire participants. During a typical transaction the sending participant initiates the funds transfer message. The Fedwire application: (1) authenticates the sender, (2) edits the message for proper syntax, (3) debits the payment amount from the sender’s reserve account and credits the same amount to the receiver’s reserve account, (4) sends an acknowledgement to the sender to confirm the outgoing payment, and (5) sends an advice to the receiver for notification of the incoming payment. Payments processed over Fedwire are final and irrevocable.
The Reserve Banks have a number of procedures in place to ensure the resilience of the Fedwire services, including out-of-region back up facilities for the Fedwire applications and all integral support and related functions. The Reserve Banks routinely test Fedwire business continuity procedures across a variety of contingency situations to ensure timely resumption of Fedwire operations in the event of a local, regional, or widespread disruption. The Fedwire applications and recovery procedures are enhanced on an ongoing basis.
For more information about contingency planning, please review the Fedwire Offline Services as a Contingency Alternative Quick Reference Guide.
Procedures are in place to ensure the resilience of the Fedwire applications, which includes recovery to the point of failure. To aid depository institutions (DIs) in the reconciliation process, the following reports should be used:
For a copy of step-by-step reconcilement procedures contact your Wholesale Operations Site. Computer Interface customers should contact their vendors for more information about resetting sequence numbers and sending PDMs.
For detailed information regarding the resilience of Fedwire, including information on Fedwire Data Centers, Fedwire Technical Support Personnel, Fedwire Contingency Testing, and Customer Responsibilities, please review the Fedwire Resilience Statement (PDF).
Throughout the business day, you can view operational information and updates through the Fedwire Status page. This information includes opening time, operational status, information regarding extensions, and closing time. You should become familiar with this status page on a regular basis, as this is the location where important information regarding the Fedwire service will be posted following a disruption.
The Fedwire Securities Service, owned and operated by the Federal Reserve Banks, provides a centralized, electronic, real-time, gross settlement system (RTGS). RTGS means that the Fedwire application processes and settles transactions individually as they occur. Payments processed over Fedwire are final and irrevocable. All securities are held and transferred in book-entry form. Securities transfers may occur with or without the simultaneous debiting and crediting of funds. Security transfers with a payment are referred to as delivery-versus-payment (DVP). Each DVP transfer message results in a securities debit to the sender and a securities credit to the receiver; simultaneously, funds are credited to the sender and debited from the receiver.
The Reserve Banks have a number of procedures in place to ensure the resilience of the Fedwire services, including out-of-region back up facilities for the Fedwire applications and all integral support and related functions. The Reserve Banks routinely test Fedwire business continuity procedures across a variety of contingency situations to ensure timely resumption of Fedwire operations in the event of a local, regional, or widespread disruption. The Fedwire applications and recovery procedures are enhanced on an ongoing basis.
For more information about contingency planning, please review the Fedwire Offline Services as a Contingency Alternative Quick Reference Guide.
Procedures are in place to ensure the resilience of the Fedwire applications, which includes recovery to the point of failure. To aid depository institutions (DIs) in the reconciliation process, the following reports should be used:
For a copy of step-by-step reconcilement procedures contact your Wholesale Operations Site. Computer Interface customers should contact their vendors for more information about resetting sequence numbers and sending PDMs.
For detailed information regarding the resilience of Fedwire, including information on Fedwire Data Centers, Fedwire Technical Support Personnel, Fedwire Contingency Testing, and Customer Responsibilities, please review the Fedwire Resilience Statement (PDF).
Throughout the business day, you can view operational information and updates through the Fedwire Status page. This information includes opening time, operational status, information regarding extensions, and closing time. You should become familiar with this status page on a regular basis, as this is the location where important information regarding the Fedwire service will be posted following a disruption.
| Contact Information |
|---|
| Boston, Cleveland, Dallas, New York, Philadelphia, St. Louis |
| (800) 327-0147 / (617) 973-3722 |
| Atlanta, Chicago, Kansas City, Minneapolis, Richmond, San Francisco |
| (800) 333-2448 / (816) 881-2448 |
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