Home News The Federal Reserve is Experiencing Network Issues

The Federal Reserve is Experiencing Network Issues

TL;DR: “The Federal Reserve Bank staff is currently investigating a possible disruption to FedACH® Services. End of day files are delayed. We will provide updates on Service Status as soon as they are available,” the United States central bank alerted. US banking customers took to social media early on the morning of 19 December 2019, complaining about delays and confusion.   

The Federal Reserve is Experiencing Network Issues

“The Federal Reserve is experiencing network issues causing certain transactions to be delayed. We’re monitoring the situation closely in partnership with the Fed. As soon as they’ve resolved the issue we’ll work to make sure all transactions are posted as quickly as possible,” Capital One explained. The McLean, Virginia-based company is a leader in banking, credit cards, and auto loans. It’s also one of the top ten largest banks in the United States.

About a half an hour after its first warning, the Fed attempted to assure “Federal Reserve Bank technical staff are investigating the issue. Updates will be posted to Service Status on FRBservices.org, FedLine® Home and sent via email to affected customers every 30 minutes until resolution.” The last of its posts on the matter came at 10:31am EST, prior to publication.

CNN Business described it as a “glitch” that “has since been resolved.” The trouble was indeed within the Fed’s automatic clearing house (ACH) network, apparently, though the nature of the problem was not disclosed. US banks rely upon the Fed’s automated system to quickly transport funds through direct deposits and bill payments. “Please continue processing FedACH files as the system allows,” the Fed urged.

“Processing may be verified in FedACH Information Services or via accounting entries in the Account Management Information (AMI) application,” the Fed concluded, insisting banks “Notify all pertinent personnel at your institution of the outage; Refer to the Service Status page to obtain the current operational status and other instructions. If a service disruption occurs during midday processing, financial institutions should attempt to reconcile files transmitted through the time of disruption.”

The Federal Reserve

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