IMAD/OMAD: What Are They and How Do They Work?
IMAD (Input Message Accountability Data) and OMAD (Output Message Accountability Data) are unique identifiers assigned to each FedWire transaction by the Federal Reserve Bank system. These references are crucial for ensuring the uniqueness of each transaction and for facilitating the tracking and investigation of fund transfers. Below is a detailed explanation of IMAD/OMAD. Structure of…
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