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    Naseeruddin Mohd
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    Fedwire is a real-time electronic funds transfer system operated by the Federal Reserve Banks that allows over 9,000 financial institutions to transfer funds. Along with the private CHIPS system, Fedwire is the primary network in the US for large or urgent domestic and international payments. In 2007, the average daily value of transfers was $2.7 trillion and the average number of payments was 537,000.

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    Fedwire is a real-time electronic funds transfer system operated by the Federal Reserve Banks that allows over 9,000 financial institutions to transfer funds. Along with the private CHIPS system, Fedwire is the primary network in the US for large or urgent domestic and international payments. In 2007, the average daily value of transfers was $2.7 trillion and the average number of payments was 537,000.

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    25 views1 page

    Fed Wire

    Uploaded by

    Naseeruddin Mohd
    Fedwire is a real-time electronic funds transfer system operated by the Federal Reserve Banks that allows over 9,000 financial institutions to transfer funds. Along with the private CHIPS system, Fedwire is the primary network in the US for large or urgent domestic and international payments. In 2007, the average daily value of transfers was $2.7 trillion and the average number of payments was 537,000.

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    From Wikipedia, the free encyclopedia Jump to: navigation, search Formally known as the Federal Reserve Wire

    Network, 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] 2009 figures show a value of 631 trillion dollars in transfers originated in Fedwire.

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