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Fed Wire

   Also found in: Wikipedia 0.01 sec.
Fed Wire
An electronic system allowing the quick transfer of funds and securities between banks. The fed wire exists to settle large transactions between banks so that they can continue to extend credit to each other and to customers. It is operated by the Federal Reserve and is more formally known as the Federal Reserve Wire Network. See also: Real-time gross settlement system (RTGSS).

fed wire
A high-speed communications system for transferring funds and ownership of book-entry securities between banks. The fed wire is used to move bank reserves and to make credit available without delay.


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The second method is the Fed Wire system, under which the taxpayer initiates a transfer from its bank's wire room to the wire room at the State's bank.
Adding these standards, which include SWIFTNet Cash Reporting, SWIFTNet Funds, SWIFTNet Exceptions and Investigations, Fed Wire (Federal Wire) and clearing house interbank payment systems (CHIPS), will enable companies to accelerate global financial data movement and thrive in a highly competitive banking business environment.
The second method of payment is the Fed Wire method, under which the taxpayer initiates a transfer from its bank's wire room to the wire room at the State's bank.
 
 
 
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