Understanding Wires & Concepts of Real Time Gross Settlement

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 the SWIFT international financial messaging network. Students gain an understanding of the key attributes, capabilities, uses and developments in wire transfers.