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Fedwire Funds Service: Payments, Balances, and Available Liquidity

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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.

Suggested Citation

  • Anton Badev & Lauren Clark & Daniel Ebanks & Jeffrey C. Marquardt & David C. Mills, 2021. "Fedwire Funds Service: Payments, Balances, and Available Liquidity," Finance and Economics Discussion Series 2021-070, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfe:2021-70
    DOI: 10.17016/FEDS.2021.070
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    File URL: https://www.federalreserve.gov/econres/feds/files/2021070pap.pdf
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    1. Soramäki, Kimmo & Bech, Morten L. & Arnold, Jeffrey & Glass, Robert J. & Beyeler, Walter E., 2007. "The topology of interbank payment flows," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 379(1), pages 317-333.
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    More about this item

    Keywords

    Fedwire; Payments; Overdrafts; Liquidity;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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