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).

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.
References in periodicals archive ?
The purported will led to federal wire fraud charges against Herring, Peterson and Herring's sister and brother-in-law, Marion "Diane" Kinley and John Wayne Kinley Jr.
In 2008, Governor of New York state, Eliot Spitzer, was caught on a federal wire trap arranging to meet with a high-priced prostitute at a Washington hotel in February, (http://www.
Clemons, who worked with the Salem-based nonprofit group for 30 years, pleaded guilty in December to a federal wire fraud charge in connection with the embezzlement.
9 million in restitution for defrauding his clients to obtain their property and money via email communication across state lines, which constitutes federal wire fraud.
They face up to 20 years in prison on the federal wire fraud charges and five years on the state charges if convicted.
A defendant charged with stealing trade secrets is often indictable under the Computer Fraud and Abuse Act, the National Stolen Property Act, and/or the federal wire fraud statute.
com reports, Senators Lindsey Graham and Dianne Feinstein "would reimpose a long-standing interpretation of the federal Wire Act that held betting over the internet violated the law.
It is indicative of the strange and often Byzantine approach taken to online gambling prohibition in the US that for many years the principal piece of legislation used to outlaw the industry has been the Federal Wire Act, introduced in 1961 as part of the ongoing crusade against the mob.
Farah and co-conspirator Donald Dodge have pleaded guilty to federal wire fraud charges after prosecutors alleged the pair swindled at least $20 million from individuals who invested in mortgages to back up FRM-directed projects.
A man accused of swindling desperately ill patients out of $400,000 by making false promises of organ transplants has pleaded guilty to five federal wire fraud charges, the Associated Press reported.
AP) -- The wife of a former Shelton State Community College president has pleaded guilty to three federal wire fraud counts and will forfeit more than $156,700 in pay and benefits reaped from a phony job she got at the Alabama Fire College.
The newspaper reported Wednesday that federal wire fraud charges had been filed Tuesday against Martin T.

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