Updated 8:20 pm UTC: This article has been updated to reflect that all Federal Reserve Bank Services with the exception of Account Services are now dorsum online.

Nearly all of the services available through the Federal Reserve's online portal went down for more than an 60 minutes today.

According to the Federal Reserve Bank Services website, the bank is currently experiencing a disruption in its Bank check 21, Check Adjustments, FedLine Reward, FedLine Command, FedLine Directly and FedLine Web services, which started at vi:xviii pm UTC today. Its FedACH, Primal Depository financial institution, FedCash, Fedwire Funds, Fedwire Securities and National Settlement services went offline at the aforementioned fourth dimension but were restored inside two hours.

In addition, about of the access solutions that the Fed offers — FedLine Advantage, FedLine Control, FedLine Direct, FedLine Web and FedMail — were disrupted and later restored, with only FedLine Advantage offline at the time of publication. The FedMail organisation, which stayed online through the service disruption, allows the central depository financial institution to provide updates on its services to participating organizations.

Washington Post reporter Rachel Leah Siegel reportedly received an alarm from the Fed proverb its staff was "currently investigating a disruption to multiple services" and would "continue to provide updates as presently equally they are available."

According to Siegel, Jim Strader from the Federal Reserve Banking company of Richmond said:

"A Federal Reserve operational mistake resulted in disruption of service in several business lines. We are restoring services and are communicating with all Federal Reserve Financial Services customers well-nigh the condition of operations."

Set up by the central bank, FedACH handles Social Security benefits, tax refunds and many payroll direct deposits for federal employees, while Fedwire is a existent-fourth dimension gross settlement funds transfer system between accredited institutions. Some in the crypto infinite take pointed out the blockchain industry already seemingly has the infrastructure to enable like payments.

At the fourth dimension of publication, the system outage doesn't appear to have had much affect on cryptocurrencies or fiat. Bloomberg's Ice Dollar Alphabetize, which measures the value of the U.S. dollar against vi major currencies, stayed to a higher place 90 points this afternoon. The price of Bitcoin (BTC) is currently $48,985, having risen more than than vii% in the final 24 hours.