Federal Reserve upgrades net

Federal Reserve upgrades net

The Federal Reserve's 12 banks are upgrading their Fednet data network, replacing dedicated leased lines with permanent virtual circuits over a public frame relay network.

Fednet links 55 Federal Reserve offices and about 1,500 financial institutions. Another 11,500 institutions make dial-up connections to the Fed, and most of those connections probably will not change, a spokesman said.

The current network was designed in the late 1980s with an emphasis on security and high availability for mainframe-era payment transactions. The new frame relay network, supplied by Sprint Corp., will have faster access and will support more protocols. It will implement the Triple Data Encryption Standard and have an Integrated Services Digital Network backup in case of failure.

'William Jackson, Christopher J. Dorobek and Shruti Dat'

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