The Federal Reserve is investigating the second significantdisruption in 2019 of a payments service administered by the U.S.central bank. Certain bank transactions were delayed Thursday afterthe Automated Clearing House system (ACH)experienced problems. The system is now back up and running.
|"ACH is operational," said Jean Tate, a spokeswoman at theAtlanta Fed. "There was an internal processing issue that delayeddelivery of some files this morning. Technical teams areinvestigating the root cause of the issue." The Atlanta Fedhosts the central bank'sRetail Payments Office, which processes ACH transactions.
|The ACH system handled 58.5 million transactions a day, onaverage, in 2018,with an average value of $1,760.
|Earlier on Thursday, several banks tweeted that they wereexperiencing issues.
The Federal Reserve isexperiencing network issues causing certain transactions to bedelayed. We're monitoring the situation closely in partnership w/the Fed. As soon as they've resolved the issue we'll work to makesure all transactions are posted as quickly as possible. ^AJS
|— Capital One (@AskCapitalOne) December 19, 2019
A Fed website dedicated to thecentral bank's payments processing services posted a notificationat 9:57 a.m. on Thursday saying: "The FedACH Services applicationbegan experiencing a disruption on December 18 at 3:30 p.m. Paymentfiles and acknowledgments are flowing as of 7:40 a.m. on December19. Federal Reserve Bank technical staff continue to investigatethe issue."
|Spokespersons at the Fed's Washington headquarters didn'timmediately respond to request for comment on the issue.
|This marks the second disruption to a Fed-run payments servicethis year. On April 1 the FedWire interbank funds transfer servicewent down for about three hours. The Fed blamed the outage on "aninternal technical issue" but declined to provide more details.
|Bloomberg News sought additional information about thatoutage underthe Freedom of Information Act, but the request and a subsequentappeal were denied by the Fed Board of Governors.
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