Talk:Clearing House Interbank Payments System

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The article says that, in contrast to FedWire, CHIPS is not real time. However the page on the Clearing House Payments Company at ^[1] says that:

"CHIPS provides real-time, immediate and final settlement of payment messages continuously throughout the day similar to Fedwire."

The truth appears to be somewhere between the two. At the Clearing House's own page about CHIPS ^[2] they say

"It combines best of two types of payments systems: the liquidity efficiency of a netting system and the intraday finality of a RTGS."

I think the article should say something like:

"The CHIPS releasing algorithm has intra-day finality, though not in real time, while allowing the liquidity efficiency of a netting system, that is, banks can make large transfers out so long as they are balanced by large transfers in within the day."

Jschlesinger (talk) 11:59, 8 May 2015 (UTC)[reply]

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UNIVERSAL IDENTIFICATION

This should not be of mid-importance for users of CHIPS. It can easily be used in schemes in Telecommunication to hack through Universal sattelite technology. Any wire fraud would be against Chapter 63. All payments through CHIPS are monitored where incoming source is CHI snd outgoing source is CHO. The ID is formated with all numerical digits.

The page needing a citation is irrelevant as this is the citation. If you break the law and use wire fraud you can get 20 years in prison. 170.62.21.182 (talk) 14:47, 30 May 2024 (UTC)[reply]

[1] ttps://en.wikipedia.org/wiki/The_Clearing_House_Payments_Company

[2] ttps://www.theclearinghouse.org/payments/chips

[1]

[2]