#Fedwire
LightNews LightNews
utopia-defer.red
Also, why does Tulsi Gabbard keep asking for access to the treasury's printing facilities and for private read/write permissions to the federal reserves's FedWire Funds Service... ?
November 22, 2024 at 11:28 PM
modestholdings.com
Things are not going well when average folks need to understand the distinction between ACH and Fedwire; but as a policymaker I'm glad to have the experience.
March 1, 2025 at 11:07 PM
conjurial.bsky.social
if there are news articles about Fedwire or ACH processing latency, buy gold
February 13, 2025 at 12:38 AM
eigenvectrix.northsky.social
To my eye, this looks a lot like the US government is now simply illegally using Fedwire to pull back funding whose allocation it politically disagrees with
February 12, 2025 at 8:13 PM
forevernever.bsky.social
I still don't understand how the payment, which I assume was a fedwire due to its size, was "reversed". That's not really possible, even by the Treasury (fedwire is managed by the New York Federal Reserve Bank, not the Treasury).

There's a paper trail somewhere.
February 12, 2025 at 8:04 PM
mosheroperandi.bsky.social
USD has been a CBDC ever since Fedwire, but no one is ready to have that conversation.
June 12, 2024 at 8:13 PM
himself.bsky.social
Update: Felix Salmon (in comments to my post) has much more detail on what apparently happened with the $80 million FEMA funds.
I've spent all day reporting out what happened with the FEMA/Citibank money, and only a tiny bit of that reporting is going to make it onto axios dot com, so I'll share what I know here. Basically, there was a point at which the NYC Comptroller, for reasons I'm a bit unclear about, *thought* that the money arrived in the account via Fedwire, which is irreversible. But that's not the case, in fact it arrived via ACH on Feb 4, and those transactions are reversible within 5 business days, which is what happened: The fifth business day after Feb 4 was Feb 11, and that's when the transaction was reversed. If Elon had waited one more day, he couldn't have done what he did. That said, Lander is probably correct that this was not a legal move. There are only very narrow reasons that are acceptable under the NACHA rules for reversing a transaction -- things like duplicate payments or literally sending it to the wrong account. "I don't think this money was properly appropriated" is nowhere near an adequate reason under 31 CFR § 210.6(f). So if you want to make the case that this is massive government overreach, I would totally agree with you. On the other hand, Citibank was really not involved in this at all, and didn't get forced to do anything. The money just left the account automagically, much as it arrived, and Citi was just as surprised as anyone else. In that sense the $80 million is very very different from the $20 billion, which is going to have to be actively returned to the government *by someone*, if it is returned at all. (And that is what would have had to have happened if the FEMA money arrived by Fedwire, which it didn't.)
February 14, 2025 at 12:23 AM
twesq.bsky.social
FedWire lines from Georgia to Bham got hot the last minute
November 30, 2024 at 2:51 AM
forevernever.bsky.social
It's because fedwire is a piece of shit infrastructure that requires multiple humans to review and approve before the money gets moved. It's why a wire costs $20+ to send. Congress can mandate that the Fed make it a 24/7 protocol that doesn't require human approval and can sends funds within 1 hour
January 21, 2026 at 1:06 PM
valkyrie.hacker.gf
they don't use ACH for $80M bank wires, they use en.wikipedia.org/wiki/Fedwire
Fedwire - Wikipedia
en.wikipedia.org
February 12, 2025 at 7:48 PM
federalreserve.gov
@federalreserve.gov announces expanded operating days of two large-value payments services, Fedwire® Funds Service and the National Settlement Service (NSS), to include Sundays and weekday holidays: www.federalreserve.gov/newsevents/p...
Federal Reserve Board announces expanded operating days of two large-value payments services, Fedwire® Funds Service and the National Settlement Service (NSS), to include Sundays and weekday holidays
The Federal Reserve Board on Thursday announced expanded operating days of two large-value payments services, Fedwire ® Funds Service and the National Set
www.federalreserve.gov
October 9, 2025 at 8:32 PM
mwwaters.bsky.social
There’s time limits and only specific circumstances to reverse ACH Credits.

I’m still unclear if the NYC money was ACH or FedWire. If the former, the time limit is 5 business days and no reason exists under NACHA. If the latter, then I really don’t know how Treasury did it.
February 13, 2025 at 5:09 PM
peark.es
If the Bank of Dom wanted to issue me a loan (create a deposit) to me in dollars without any Fedwire activity it can absolutely do that. But then what happens to those dollars? If I want to transfer them from my deposit account to anyone else, very hard to do without the traditional ledger system.
April 25, 2026 at 3:39 PM
reidwalley.bsky.social
Peeps that balk at Bitcoin’s 7 transactions per second (TPS) fail to realize that’s 7 TPS of *final settlement*.

VISA, Mastercard, Amex, Discover are *not* final settlement.

Final settlement is extremely important!

Bitcoin: 7 TPS

Fedwire: 9 TPS

www.frbservices.org/resources/fi...
Fedwire Funds Service - Monthly Statistics
Monthly Fedwire Funds Service statistics
www.frbservices.org
May 26, 2024 at 7:36 AM
jpkoning.bsky.social
By the end of 2024, 32.9% of SWIFT traffic had shifted to the ISO 20022 messaging standard, one of the biggest upgrades to the global payments system in decades.

A key date ahead: March 10, when the Federal Reserve switches Fedwire over to ISO 20022.
January 28, 2025 at 10:05 PM
cehoward.bsky.social
This also means the ICC and named staff (in the unpublished EO Annex) are now unbanked with funds frozen in any bank connected to CHIPS or Fedwire. Also any government or entity that attempts to fund the ICC will also have sanctions extend to them by the terms of the EO. Pure evil.
February 6, 2025 at 11:31 PM
cascoinfoundation.org
lol, I think it’s fair to say that Donal Trump and David Sacks don’t know what FedWire is at all, so even under the most generous interpretation I’m pretty sure it negates reserves and FedWire.

🤷
January 23, 2025 at 11:33 PM
aarongreenspan.com
Thanks to Wired for *finally* being specific. Sounds like they have access to everything. Wired has specified the Secure Payment System, SPS, which sites on top of ACH and FedWIRE. Other data published by Musk looks like it came from ASAP. So, that's basically everything.

Um.
February 4, 2025 at 7:35 AM
willwnny.bsky.social
Given Musk's lieutenants taking over Federal payments, It makes sense now why Trump picked Fiserv CEO, Frank Bisignano to head up the Social Security Administration. Fiserv specializes in payments. Next, a take over of the banking payments systems like ACH and Fedwire.
February 3, 2025 at 2:02 PM
wheystandard.bsky.social
If they managed to somehow force a reversal through FedWire, absolutely. I can think of a couple more logical ways they could’ve accomplished this, nearly all of which would constitute fraud by the United States government, a thing that would absolutely terrify our international creditors.
February 13, 2025 at 12:46 AM
politikrypt.bsky.social
Fedwire and SWIFT. This move signals that regulated US banks now view stablecoins not as crypto curiosities but as legitimate settlement rails, accelerating the tokenization of dollar liquidity. The deeper implication is geopolitical: as more US financial institutions issue private dollar 🧵(3/5)
September 24, 2026 at 4:06 PM
jpkoning.bsky.social
If you're interested in the guts of the payments system, here's a neat insight. CHIPS and Fedwire, the U.S.'s two large-value settlement systems, seem like they'd be competitors, but they're actually complementary, meshing together to create a more efficient whole.
February 22, 2025 at 2:15 PM
echowander.bsky.social
Massive power outages are very concerning. All payment systems went down, it was cash only today.

In that sense bitcoin is no different than Visa, Venmo, ATM’s, PayPal, Zelle, FedWire, Swift, Western Union, all of it.

Cash only.

It’s a pretty concerning issue.
April 29, 2025 at 12:01 AM