As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by DailyMail:
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 article goes on to state the following:
‘A Federal Reserve operational error resulted in disruption of service in several business lines,’ a Fed spokesman told DailyMail.com in a statement. ‘We have restored services and communicated with all Federal Reserve Financial Services customers about the status of operations.’
The report notes that the Fed admitted payment deadlines were ‘impacted’ during the outage, which lasted until about 3 p.m. Wednesday.
In case you have no idea what I’m talking about.https://t.co/4WGdpwvtF2
— Spike Cohen (@RealSpikeCohen) February 25, 2021
Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires https://t.co/yTVXHz9xMw
— Daily Mail US (@DailyMail) February 24, 2021
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