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The Great Moderation | Federal Reserve History

https://www.federalreservehistory.org/essays/great-moderation

The Great Moderation | Federal Reserve History About About This Site Federal Reserve Historian Our Authors Related Resources Home > Federal Reserve

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Fedwire

Fedwire (formerly known as the Federal Reserve Wire Network) is a real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks that allows financial institutions to electronically transfer funds between its more than 9,289 participants (as of 19 March 2009). Transfers can only be initiated by the sending bank once they receive the proper wiring instructions for the receiving bank. These instructions include: the receiving bank's routing number, account number, recipient's name and dollar amount being transferred.

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“The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.”
-- Thomas Jefferson