Abstract
Each day, approximately $1.3 trillion changes hands by means of wholesale wire transfers.1 Of this total, about $638 billion is exchanged on Fedwire, the Federal Reserve wire transfer network, while just under $622 billion moves over the privately owned Clearing House Interbank Payment System (CHIPS). On Fedwire, the average transfer is $2.9 million, while transfers on CHIPS average $4.6 million.
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Mengle, D.L. (1990). Legal and Regulatory Reform in Electronic Payments: An Evaluation of Payment Finality Rules. In: Humphrey, D.B. (eds) The U.S. Payment System: Efficiency, Risk and the Role of the Federal Reserve. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-2510-6_9
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DOI: https://doi.org/10.1007/978-94-009-2510-6_9
Publisher Name: Springer, Dordrecht
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