November 2021

Fedwire Funds Service: Payments, Balances, and Available Liquidity

Anton Badev, Lauren Clark, Daniel Ebanks, Jeffrey Marquardt, David Mills

Abstract:

We analyze the universe of payments settled through the Fedwire Funds Service--the primary U.S. real-time gross settlement service operated by the Federal Reserve--for the period January 2004 to December 2020. We report on trends in payments volume, payments value, balances, and overdrafts, in addition to documenting changes in the behavior of financial institutions transacting via the Fedwire Funds Service.

DOI: https://doi.org/10.17016/FEDS.2021.070

PDF: Full Paper

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Last Update: November 05, 2021