The Federal Reserve is suffering a disruption in multiple payment services due to an operational error, the central bank said in a statement Wednesday.
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Published: 2021-02-24 02:52 pm
The Federal Reserve is investigating a disruption in its payment services
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New York (CNN Business)The Federal Reserve is suffering a disruption in multiple payment services due to an operational error, the central bank said in a statement Wednesday.

The Fed's website indicates a service disruption for almost all of its payment services, and a spokesman confirmed these outages are ongoing and include Fedwire.

Banks, businesses and government agencies rely on Fedwire to zip vast sums of money around the US banking system. More than $3 trillion was transferred daily using Fedwire during the fourth quarter.

"We are restoring services and are communicating with all Federal Reserve Financial Services customers about the status of operations," the Fed said in a statement to CNN Business.

The Fed blamed an "operational error" but did not elaborate beyond that.

It's not clear how many banks or companies are being impacted.

Gemini, the cryptocurrency exchange backed by the Winklevoss twins, said some of its systems are experiencing outages because of the Fed disruption. "All funds remain secure while we investigate the issue," Gemini said in a status update.

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