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What are the Fedwire Funds Service and the Fedwire Securities Service?

April 26, 2017fedwire funds securities service

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What are the Fedwire Funds Service and the Fedwire Securities Service?

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The Fedwire Funds Service is the real-time gross settlement electronic payments service owned and operated by the Federal Reserve Banks. The Fedwire Securities Service is a real-time gross settlement book-entry securities service owned and operated by the Federal Reserve Banks that allows for the immediate, simultaneous delivery of securities against payment. Fedwire participants are primarily depository institutions acting on behalf of themselves and their customers. Additional details about the Fedwire Funds Service and the Fedwire Securities Service can be found on the Federal Reserve Financial Services web site (www.frbservices.org) by clicking on Fedwire.