The ________ is a nationwide network jointly operated by the Fed and private institutions that electronically process credit and debit transfers of funds.

Question

Quizplus · Accepted Answer

ACH (Automated Clearing House) is a nationwide network jointly operated by the Fed and private institutions that electronically process credit and debit transfers of funds. Fedwire is a real-time gross settlement system used for large transactions, and CHIPS is a private sector wholesale funds transfer system. NASDAQ is a global electronic marketplace for buying and selling securities, and SWIFT is a messaging network used for international money transfers.

The ________ Is a Nationwide Network Jointly Operated by the Fed