Market Flux Event
Federal Reserve Bank Monitoring Database Went Offline for More Than 24 Hours in August
Read this in the Market Flux appThe Federal Reserve's National Information Center, a key database used by U.S. bank regulators to share and monitor bank data, suffered an outage lasting more than 24 hours around August 5, according to reporting by The Wall Street Journal. The system is relied upon by the Fed, the FDIC, and the Office of the Comptroller of the Currency to track bank health and share supervisory data.
While the White House characterized the disruption as affecting only the public-facing website, sources told the Journal that internal systems were also hit, including the Fed's primary bank-lending channel, known as the discount window. An internal email cited failed data pipelines that caused significant downstream impacts across multiple Federal Reserve business areas. The cause of the outage has not been publicly determined.
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Sources
- WsjFed System Monitoring Banks Suffered Outage Last Month
- WSJmarketsA Fed database used for monitoring banks experienced an outage for more than a day last month
- Zerohedge*FED SYSTEM MONITORING BANKS SUFFERED OUTAGE LAST MONTH: WSJ *FED DATABASE OUTAGE LASTED THAN 24 HOURS AROUND AUG. 5: WSJ
- WallstengineA Federal Reserve database used by U.S. regulators to monitor banks went offline for more than 24 hours last month. The outage affected the National Information Center, which is used by the Fed, FDIC and OCC to share and monitor bank data. An internal notice said failed data pipelines caused downstream disruption across multiple Fed business areas, including the discount window. Source: WSJ
- DeItaoneFED BANK MONITORING SYSTEM HIT BY OUTAGE The Federal Reserve’s National Information Center suffered an outage on August 5, according to the WSJ. The White House said only the public website was affected, but sources said internal systems and the Fed’s primary bank-lending channel were also disrupted. An internal email cited significant downstream impacts across multiple Fed operations. The cause remains unclear.