Changes in the Timing Distribution of Fedwire Funds Transfers
نویسندگان
چکیده
he Federal Reserve’s Fedwire funds transfer service is the biggest large-value payments system in the United States in terms of participants, value, volume, and use by other settlement systems. Although Fedwire funds activity has long been concentrated in the late afternoon, recently there has been a noticeable shift to later in the day. The value of funds activity after 17:00 has increased from 20 percent in 1998 to more than 30 percent in 2005 (Board of Governors of the Federal Reserve System 2006). In 2006, the Federal Reserve commented on the risk posed by this change:
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