The Wall Street Journal: The Federal Reserve monitored a database of banks that experienced a failure lasting over 24 hours last month

According to The Wall Street Journal, informed sources said that the database used by the Federal Reserve to monitor banks experienced a failure last month that lasted more than a day. This failure involved the Federal Reserve's National Information Center, which is used to provide bank-related data to regulators.

It is reported that the National Information Center database experienced a failure lasting over 24 hours around August 5. Senator Elizabeth Warren stated in a letter that this database failure raised concerns about how staff cuts at the Federal Reserve might affect system maintenance and bank regulatory work.