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Loan and Mortgage Terms Glossary

Culpeper Switch:

A federal reserve facility located in culpeper, virginia, just south of washington, dc, housing computers that serve as a central relay for messages transmitted electronically on the fedwire. Messages moving billions of dollars of funds and securities are processed electronically every day at the culpeper facility. Most messages originate at financial institutions, are sent to federal reserve banks and then are transmitted to culpeper, where they are switched to other federal reserve banks and finally to receiving financial institutions.


 
     
 
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