2/25, 1:52 AM (Source: TeleTrader)
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Fed's services restored after payment system crash

The United States Federal Reserve (Fed) said on Wednesday its services are back to normal after the payment system crashed with intermittent disruptions for around two hours.

Previously, the central bank unveiled that an "operational error" caused a collapse across several Fed services, including the ACH, Check 21, FedCash, Fedwire and the national settlement service.

"We are restoring services and are communicating with all Federal Reserve Financial Services customers about the status of operations," Fed spokesman Jim Strader stressed.

Breaking the News / GA