FEDWIRE

Fed RTGS for USD payments.

Definition

Fedwire migrated ISO 20022 on 14 March 2025 (FedNow and Fedwire). pacs.008, pacs.009, camt.056 messages. Operations 21:00 ET D-1 to 19:00 ET D. 2024 volume: ~200M transactions, USD 1,100 trillion value.

Origin

Fedwire operated by the Fed since 1918 ; predecessor to all modern RTGS.

Example in context

JPMorgan transfers USD 100M to Citi via Fedwire to cover an EOD FX position.

Related terms

• CHIPS — USD competitor.