Security News > 2021 > February > Federal Reserve nationwide outage impacts US banking system
The US Federal Reserve suffered a massive IT systems outage today that prevented wire transfers, ACH transactions, and other services from operating.
When performing a US wire transfer or ACH withdrawal/deposit, the transaction first goes through the Federal Reserve Bank systems who facilitate the transaction.
Today, the Federal Reserve banking systems suffered an outage caused by an "Operational error" on their end.
At this time, the Federal Reserve Bank has not provided much details other than their system status report reproduced below.
We are extending the cash order deadline for FedCash Services to 3:30 p.m. local time of the servicing Federal Reserve Bank.
BleepingComputer has contacted the Federal Reserve Bank with questions about the outage but has not heard back.