What RTGS payment system is used in the USA?

The Federal Reserve's Fedwire system is the real-time gross settlement (RTGS) system used in the United States. It facilitates the rapid and secure transfer of funds between institutions, enabling large-value payments to be settled in real-time and providing a critical mechanism for interbank transfers.

Fedwire allows participants to settle transactions virtually instantaneously, which is essential for maintaining liquidity in the financial system, especially for high-value transactions. The system operates during business hours and supports the transfer of both U.S. dollars and certain other currencies, making it a vital tool for banks and financial institutions in managing their payment obligations effectively.

In contrast, the other systems mentioned are either specific to different countries or operate in a different context. CHAPS, for example, is used in the UK, CNAPS serves China, and TARGET2 is the RTGS system for the Eurozone, focusing on European transactions. Therefore, Fedwire is distinctly recognized as the RTGS system in the United States.