The Fed Is Down
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The Fed Is Down
1–10 of 79 posts
Re: The Fed Is Down
#2https://engineering.gusto.com/how-ach-works-a-developer-pers...
A good time to remind people that the USA's money-transfer system (aka: ACH) is a giant Rube-Goldberg machine involving FTP transfers of specially formatted files.
So it sounds like the Fed's FTP server is down?? Or something like that?
Re: The Fed Is Down
#3https://engineering.gusto.com/how-ach-works-a-developer-pers... A good time to remind people that the USA's money-transfer system (aka: ACH) is a giant Rube-Goldberg machine involving FTP transfers of specially formatted files. So it sounds like the Fed's FTP server is down?? Or something like that?
[deleted]
Re: The Fed Is Down
#4https://engineering.gusto.com/how-ach-works-a-developer-pers... A good time to remind people that the USA's money-transfer system (aka: ACH) is a giant Rube-Goldberg machine involving FTP transfers of specially formatted files. So it sounds like the Fed's FTP server is down?? Or something like that?
Why wouldn't they use SFTP?
Re: The Fed Is Down
#5Re: The Fed Is Down
#6https://frbservices.org/app/status/serviceStatus.do
Affected Areas: Account Services, Check 21, Check Adjustments, FedACH, FedLine Advantage, FedLine Command, FedLine Direct, FedLine Web, Fedwire Funds, Fedwire Securities, National Settlement
Re: The Fed Is Down
#7https://engineering.gusto.com/how-ach-works-a-developer-pers... A good time to remind people that the USA's money-transfer system (aka: ACH) is a giant Rube-Goldberg machine involving FTP transfers of specially formatted files. So it sounds like the Fed's FTP server is down?? Or something like that?
Why wouldn't they use SFTP?
Meet the US government... Triple DES is still used for backwards compatibility in banking
Re: The Fed Is Down
#8Anyone know what the fed uptime was for last year? Or how common these types of issues are for the fed? Sounds like a massive impact if they normally move ~$3.4 trillion a day..
Re: The Fed Is Down
#9https://engineering.gusto.com/how-ach-works-a-developer-pers... A good time to remind people that the USA's money-transfer system (aka: ACH) is a giant Rube-Goldberg machine involving FTP transfers of specially formatted files. So it sounds like the Fed's FTP server is down?? Or something like that?
It's OK, customers can use the backup system which is sending in 9-track tape reels via FedEx.
Re: The Fed Is Down
#10Anyone know what the fed uptime was for last year? Or how common these types of issues are for the fed? Sounds like a massive impact if they normally move ~$3.4 trillion a day..
It's huge. This is a big story