[xcrjm]

It won't be any worse or better than existing federally administered systems. The government already oversees all the major existing bank-to-bank transfer systems mentioned in the press release. In the US banks charge different wire fees because they can as a competitive matter, but they all use FedWire to talk to each other. Just like they can impose arbitrary limits on ACH transfer size but they all use FedACH to handle the actual transfer. This one is just a faster, more secure version of the latter.