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FILE PHOTO: The Federal Reserve building is pictured in Washington, DC, U.S., August 22, 2018. REUTERS/Chris Wattie
(Reuters) - The Federal Reserve says its Fedwire Funds, Fedcash and some check clearing services have resumed normal operations after a more than three-hour disruption to more than a dozen critical central bank payment services forming the backbone of the U.S. banking system.
The National Settlement Service and the Fedwire Securities Service, which provides issuance, settlement and transfer services for Treasuries and other government securities, have also been restored, the Fed said.
“Our technical teams have determined that the cause is a Federal Reserve operational error,” the Fed said on Wednesday on its website. “The Federal Reserve Banks have taken steps to help ensure the resilience of the Fedwire and NSS applications, including recovery to the point of failure.”
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The Federal Reserve Bank experienced widespread outages for most of its services Wednesday, including those used for fund transfers, in what the central bank called an operational error.
The Federal Reserve Bank notified users on its website shortly after 1 p.m. it was investigating a disturbance in multiple services. A Federal Reserve operational error resulted in disruption of service in several business lines, Federal Reserve Bank of Richmond s Jim Strader told the
Washington Examiner. We are restoring services and are communicating with all Federal Reserve Financial Services customers about the status of operations.
Shortly after 2 p.m., the central bank s website said that services had been restored to some services and that to accommodate those who had been impacted by the disruptions, it was extending the cash order deadline for FedCash Services to 3:30 p.m.
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The Federal Reserve says its Fedwire Funds, Fedcash and some check clearing services have resumed normal operations after a more than three-hour disruption to more than a dozen critical central bank payment services forming the backbone of the U.S. banking system. The National Settlement Service and the Fedwire Securities Service, which provides issuance, settlement and transfer services for Treasuries and other government securities, have also been restored, the Fed said. "Our technical teams have determined that the cause is a Federal Reserve operational error," the Fed said on Wednesday on its website.