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Understanding Wires and Concepts of Real Time Gross Settlement
Date 02:10 PM - 03:25 PM (1 hour 15 minutes)
Tuesday, September 26
This course introduces students to the primary wire transfer systems in the U.S. – the Federal Reserve Bank’s Fedwire Funds Transfer System and the Clearing House Interbank Payment System (CHIPS). Topics discussed include the role wire systems play in high-value, urgent payments, and how these systems interplay with other Real-Time Gross Settlement (RTGS) systems and the SWIFT international financial messaging network. Students gain an understanding of the key attributes, capabilities, uses and developments in wire transfers, including the possible impact of faster payment mechanisms to this legacy system.