Entire Federal Reserve payment system CRASHES

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Federal Reserve building (PHOTO CREDIT: Bloomberg News)

The United States Federal Reserve wire systems went down completely Wednesday, making it impossible for banks and other financial institutions to transfer money.

The issue was resolved a little more than an hour after the outage occurred.

The fed claimed the disruption was due to an ‘operational error.’

‘Our technical teams have determined that the cause is a Federal Reserve operational error. We will provide updates via service status as more information becomes available,’ the Fed said in a brief statement. Later adding, the Fed “will communicate remediation efforts to our customers when available.”

“The issue impacting Central Bank applications has been resolved and users may resume normal access,” an updated alert said. “The cause is a Federal Reserve operational error. We will provide updates via service status as more information becomes available. We acknowledge that payment deadlines are impacted and will communicate remediation efforts to our customers when available.”

According to CNBC, some of the services down are Account Services, Central Bank, Check 21, Check Adjustments, FedACH, FedCash, FedLine Advantage, FedLine Command, FedLine Direct, FedLine Web, Fedwire Funds, Fedwire Securities, National Settlement.

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