A new proposal calls for systemically important transaction clearing firms to update their practices on handling risks related to cyberattacks and climate change.
A new proposal calls for systemically important transaction clearing firms to update their practices on handling risks related to cyberattacks and climate change.
Get Permission The Federal Reserve s online money transfer system, including Fedwire Funds and FedCash, suffered an outage for more than three hours Wednesday afternoon, with the Fed citing technical issues as the cause and not a cyber incident.
The bank began restoring services by late afternoon, but at its height, the outage affected the Federal Reserve s Account Services, Central Bank, Check 21, Check Adjustments, FedACH, FedCash, FedLine Advantage, FedLine Command, FedLine Direct, FedLine Web, Fedwire Funds, Fedwire Securities and National Settlement Services. These services are used by a wide variety of banks, mortgage houses and other lenders.
The Federal Reserve issued a series of alerts throughout the afternoon. The first, posted at 12:43 p.m. ET, said it was investigating a possible issue or disruption in the services.
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