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April 13, 2022

On the wires

Signature Bank Adds Fedwire Feature to Its Signet™ Digital Payments Platform, Allowing Instant Transfers Through Its Application Programming Interface

Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank, announced today the addition of a new feature allowing its clients to initiate real-time Fedwire transactions through its blockchain-based digital payments platform, Signet™ , directly through its Application Programming Interface (API). The addition of this Fedwire feature enables Signet clients to execute both Signet blockchain and traditional Fedwire payments through one API, providing clients with greater flexibility in automating treasury management workflows via Signature Bank’s integrated payments service.”

September 1, 2021

On the wires

Payments Canada Launches Lynx, Canada’s New High-value Payment System

“Payments Canada announces today the launch of the first release of Lynx , Canada’s new high-value payment system. Lynx is replacing the Large Value Transfer System (LVTS), which has served as Canada’s high-value payment system for over 20 years. Designated by the Bank of Canada as a systemically important payment system under the Payment Clearing and Settlement Act , Lynx will process large value, time-critical payments (i.e. wire payments) with real-time settlement finality and will provide enhanced cyber security and resiliency capabilities. Lynx has been designed with flexibility to support future technologies, including interfaces and APIs.”

February 24, 2021

On the web

The Federal Reserve Suffers Widespread Disruption to Payment Services


“The Federal Reserve suffered a widespread disruption in multiple payment services Wednesday, including a system that banks and businesses rely on to zip trillions of dollars around the financial system each day. After experiencing problems for several hours, the crucial payment system, known as Fedwire, resumed normal operations shortly before 3 p.m. ET, according to the Fed’s website .Other Fed services are still down, however.In a statement, the Fed blamed an “operational error” and said it is working to restore services and communicate with customers.”

August 18, 2020

On the web

Citi Sues Revlon Lender Brigade for Return of Payment It Says Was a Mistake

Wall Street Journal (paywall)

“Brigade “has unlawfully attempted to capitalize on the mistaken payment,” Citi said in the complaint, filed in New York federal court Monday. Brigade and other lenders have taken the position that they aren’t obligated to return the money, The Wall Street Journal reported Friday. Revlon has said it didn’t pay the money itself. In the lawsuit, Citi said the payment on a loan issued by Revlon in 2016 came from the bank’s own funds.”

August 3, 2020

On the wires

January 31, 2020

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