Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires

[txradioguy]

The Federal Reserve payment systems used to settle transactions between U.S. financial institutions have suffered an unexplained disruption.

The system used by U.S. banks to execute some $3 trillion in transactions per day was down as of 1pm ET on Wednesday, and the Fed still reported widespread disruptions nearly an hour later.

The reason for the outage and the potential impacts on consumer banking services were not immediately clear. A spokesperson for the Federal Reserve did not immediately respond to an inquiry from DailyMail.com.

<snip>

An update at 1.18pm confirmed the disruption and added 'We will continue to provide updates as soon as they are available.'

Among the affected services were Fedwire, which last year handled 184 million transactions totaling more than $840 trillion.

Every day, transactions over Fedwire total more than $3.3 trillion, according to Fed data.









https://www.dailymail.co.uk/news/article-9296385/Entire-Federal-Reserve-payment-CRASHES.html?ito=push-notification&ci=82503&si=8768747

[jafo2010]

OT-OH!

[Smokin Joe]

OT-OH!

Yep. That ain't good.

[Right_in_Virginia]

How the hell can this happen?  Cyber attack??

[libertybele]

How the hell can this happen?  Cyber attack??

Well, two things; one this happened under the Biden administration. Can't say that I'm surprised. They've built the wall around the WH and are keeping armed guards around it for a reason.

I heard two days ago that not only do banks not have to have money on hand to cover their deposits, but the banks are also allowed to write you an IOU if you go to the  bank to withdraw funds and they don't have the funds. It is my understanding that credit unions do not have that rule (yet).

The alarm went off for me during COVID when I went to the bank and we could only make a one time daily transaction of no more than $1,500.  We withdrew all our money out except enough to pay bills.

Also -- banks can discern who they want to do business with; they can close out your account for any reason and they can shut down credit cards.

I think the collapse of the dollar may be near. We will become a cashless society (which personally we're screwed) or cryptocurrency which can be manipulated -- poof your money can be gone in a flash.                                                       

[Polly Ticks]

How the hell can this happen?  Cyber attack??

It has to be shenanigans somewhere, I would think.

[libertybele]

It supposedly was due to "A Federal Reserve operational error"   ...

https://www.foxbusiness.com/markets/federal-reserve-payment-system-crashes

[jafo2010]

And the news media is more quiet than a church mouse.

the sh*t just might be hitting the fan!  Confidence in the USA has to be near zero.

Congress squanders time impeaching a POTUS that has left office while our economy is in the swirl.  And when they spend a brief moment to discuss doing anything for Americans, it is about a one time payment of $1,400 - 2,000, like that will make any difference for people?  These people in Congress all need to be replaced.  ALL!!!
 

[Victoria33]

@txradioguy

I am on the website of the Federal Reserve and there is nothing about any type of problem.  This would be a very, very, serious problem and I see nothing there.

@libertybele, thanks for posting that from Fox News saying it is "fixed".

[libertybele]

@txradioguy

I am on the website of the Federal Reserve and there is nothing about any type of problem.  This would be a very, very, serious problem and I see nothing there.

The issue has been resolved -- FOX, CNN, and CNBC have all reported that it was down for a couple of hours.

Still -- this should sound off a few alarms for everyone!

[libertybele]

And the news media is more quiet than a church mouse.

the sh*t just might be hitting the fan!  Confidence in the USA has to be near zero.

Congress squanders time impeaching a POTUS that has left office while our economy is in the swirl.  And when they spend a brief moment to discuss doing anything for Americans, it is about a one time payment of $1,400 - 2,000, like that will make any difference for people?  These people in Congress all need to be replaced.  ALL!!!
 

Beck reported  about a year and a half ago that other countries were refusing to buy our treasuries.       

With Sloe Joe at the helm and not even able to finish a complete sentence, why would anyone have confidence in the U.S. right now?

They witnessed a stolen election and the insertion of meathead in charge.

[txradioguy]

@txradioguy

I am on the website of the Federal Reserve and there is nothing about any type of problem.  This would be a very, very, serious problem and I see nothing there.

@libertybele, thanks for posting that from Fox News saying it is "fixed".

It was down for roughly three hours.  It's back up now.