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Journal Article
New rules aim to clarify overdraft information
New amendments to Regulation DD address how banks inform their customers about bounced-check protection services.
Working Paper
Fedwire Funds Service: Payments, Balances, and Available Liquidity
We analyze the universe of payments settled through the Fedwire Funds Service--the primary U.S. real-time gross settlement service operated by the Federal Reserve--for the period January 2004 to December 2020. We report on trends in payments volume, payments value, balances, and overdrafts, in addition to documenting changes in the behavior of financial institutions transacting via the Fedwire Funds Service.
Journal Article
Large-dollar payment flows from New York
Journal Article
Daylight overdrafts and payments system risk
Journal Article
Data on daylight overdrafts
Journal Article
Settlement liquidity and monetary policy implementation—lessons from the financial crisis
The U.S. dollar clearing and settlement system received little attention during the recent financial crisis, mainly because it performed reliably, processing record volumes and values of trades made in stressed financial markets. This article shows how Federal Reserve policy measures aimed at providing liquidity and stability to the financial system during and after the crisis had a major impact on settlement liquidity and thus on the efficiency of clearing and settlement system activity. The measures led to a substantial decrease in daylight overdrafts extended by the Federal Reserve and a ...
Journal Article
Would banks buy daytime fed funds?