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Fed Wire |
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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). How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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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. nbsp;is the Fed Wire method, under which the taxpayer initiates a transfer from its bank's |
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