Federal Reserve Bank of Cleveland

The Federal Reserve Banks are the owners and operators of payments infrastructure, including the Fedwire Funds Service. The Fedwire Funds Service, now in its 90th year, is the Federal Reserve Banks' high value, high-speed wire transfer system. Each funds transfer made via the Fedwire Funds Service is separately initiated, processed and settled in real time upon receipt via a highly secure electronic network. More than 6,500 financial institutions have access to the Fedwire Funds Service. In 2007, the number of Fedwire Funds transfers totaled just over 137 million with an average daily value of ...


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