abstract:Formally known as the Federal Reserve Wire Network, Fedwire is a real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks that enables financial institutions to electronically transfer funds between its more than 9,289 participants (as of March 19, 2009).Fedwire Participant Directory 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.
To be clear, however, this clarification applies only to the Fedwire and CHIPS systems, and not parties otherwise bound by the Proposed Amended Order that use these systems.