Exam CRCM topic 1 question 184 discussion

The correct answer is A. Reserve Banks sending or receiving payment orders. In the context of Fedwire transfer coverage, the focus is on the role of Reserve Banks in the process of sending or receiving payment orders through the Fedwire system. This system is a real-time gross settlement system that facilitates the transfer of funds and securities between participants, and the Reserve Banks play a central role in this process. Therefore, persons covered under Fedwire transfer coverage primarily include the Reserve Banks themselves in their capacity as entities that either send or receive payment orders as part of the system's operations.