FedWire Transfer of Funds

Document Type

Article

Publication Date

1987

Source Publication

Banking Law Journal. Volume 104, Issue 5 (1987), p. 412-446.

Abstract

The author explores the legal framework applicable to FedWire, the most extensive domestic large dollar system in the United States. The author analyzes the rules governing funds transfer under Fed- Wire, how access to FedWire funds is achieved (transfer items and requests), the steps involved in making a FedWire funds transfer from a non-Reserve Bank transferor for a beneficiary; the time schedule for the execution of a funds transfer; revocation and errors; and settlement and daylight overdraft.

Creative Commons License

Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

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