Fed’s ‘operational error’ disrupts key payment services

Federal Reserve

Several key payment systems in the US were seriously disrupted for several hours on February 24, the Federal Reserve has said.

The Fed first became aware of the disruptions around 11:15am US Eastern time (4:15pm GMT), according to Reuters. US television network CNBC reported that the disruption affected the Fedwire Funds and Securities services, the National Settlement Service and the Automated Clearing House.

The outage affected several other systems, including Check 21, FedCash, Account

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