The Timing and Funding of Fedwire Funds Transfers

[...]In this article, we measure banks’ alternative fundingsources for Fedwire funds transfers throughout the day, usinga data set that includes all banks’ Fedwire funds transfers andFederal Reserve System deposits. This approach allows us togauge the importance of incoming payments as a source offunding. We find that incoming payments used by banks tooffset outgoing payments that are entered within the sameminute account for 25 percent of the value of these transfersduring normal activity periods and as much as 40 percentduring peak periods.[...]