Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Briefing
Pondering Payments: Challenges of Reaching All Americans
George, Esther L. (2020-06-30)
Policy Perspectives

Briefing
Developments of QR Code-Based Mobile Payments in East Asia
Toh, Ying Lei; Bradford, Terri; Hayashi, Fumiko (2019-06-18)
Initiatives facilitating QR code-based mobile payments in Japan, Singapore, and Hong Kong may address some pain points of banks, nonbanks, and merchants, but whether they address consumers’ depends on factors such as fragmentation and overall digital commerce experience
Payments System Research Briefing

Journal Article
Interview: Raghuram Rajan
Price, David A. (2024-07)
In August 2005, at the annual conference of central bankers in Jackson Hole, Raghuram Rajan created a stir. Rajan, then chief economist of the International Monetary Fund, argued in a presentation that a hidden danger of massive failures was lurking in the global financial system. Risks had been building up, he said, a result of the incentives facing private institutions in the environment of that era.
Econ Focus , Volume 24 , Issue 3Q , Pages 22-26

Report
Liquidity-saving mechanisms in collateral-based RTGS payment systems
Jurgilas, Marius; Martin, Antoine (2010-03-01)
This paper studies banks? incentives for choosing the timing of their payment submissions in a collateral-based real-time gross settlement payment system and the way in which these incentives change with the introduction of a liquidity-saving mechanism (LSM). We show that an LSM allows banks to economize on collateral while also providing incentives to submit payments earlier. The reason is that, in our model, an LSM allows payments to be matched and offset, helping to settle payment cycles in which each bank must receive a payment that provides sufficient funds to allow the settlement of its ...
Staff Reports , Paper 438

Working Paper
Bank Profitability and Debit Card Interchange Regulation: Bank Responses to the Durbin Amendment
Kay, Benjamin S.; Manuszak, Mark D.; Vojtech, Cindy M. (2014-08-22)
The Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 alters the competitive structure of the debit card payment processing industry and caps debit card interchange fees for banks with over $10 billion in assets. Market participants predicted that debit card issuers would offset the reduction in debit interchange revenue by increases in customer account fees. Some participants also predicted that banks would cut costs in response to the law by reducing staff and shutting down branches. Using a difference-in-differences testing strategy, we show that ...
Finance and Economics Discussion Series , Paper 2014-77

Discussion Paper
What Can We Learn from the Timing of Interbank Payments?
Copeland, Adam; Molloy, Linsey; Tarascina, Anya (2019-02-25)
From 2008 to 2014 the Federal Reserve vastly increased the size of its balance sheet, mainly through its large-scale asset purchase programs (LSAPs). The resulting abundance of reserves affected the financial system in a number of ways, including by changing the intraday timing of interbank payments. In this post we show that (1) there appears to be a nonlinear relationship between the amount of reserves in the system and the timing of interbank payments, and (2) with the increase in reserves, smaller banks shifted their timing of payments more significantly than larger banks did. This result ...
Liberty Street Economics , Paper 20190225

Briefing
Assessing the Case for Retail CBDCs: Central Banks’ Considerations
Hayashi, Fumiko; Toh, Ying Lei (2022-05-26)
Many central banks around the world have been researching, experimenting, or developing central bank digital currencies (CBDCs). Although central banks in several emerging markets and developing economies have implemented or plan to implement a general-purpose, or retail, CBDC to promote financial inclusion and improve their payment systems, central banks in many advanced economies have not yet found a compelling case for a retail CBDC.
Payments System Research Briefing , Issue May 26, 2022 , Pages 7

Discussion Paper
An Interoperability Framework for Payment Systems
Durfee, Jon; Lee, Michael Junho; Torregrossa, Joseph (2025-03-27)
Novel payment systems based on blockchain networks promise to redesign financial architecture, but a notable concern about these systems is whether they can be made interoperable. This concern stems from the concept of the “singleness of money”—that payments and exchange are not subject to volatility in the value of the money itself. Volatility and speculation can arise from the payment medium, which may have speculative characteristics, or from frictions that undermine the ability of one or more payments systems to interoperate. In this two-part series, we outline a framework for ...
Liberty Street Economics , Paper 20250327a

Briefing
The Rise of Buy Now, Pay Later: Bank and Payment Network Perspectives and Regulatory Considerations
Bradford, Terri; Alcazar, Julian (2021-12-01)
Buy now, pay later (BNPL) products offered by fintechs have gained traction among consumers andmerchants in recent years and could compete with credit cards as a payment option. We explore thereactions of banks and payment networks to BNPL products as well as the current regulatory environment.
Payments System Research Briefing , Issue December 1, 2021 , Pages 6

Report
U. S. consumer cash use, 2012 and 2015: an introduction to the Diary of Consumer Payment Choice
O'Brien, Shaun; Greene, Claire; Schuh, Scott (2017-10-25)
U.S. consumer cash payments averaged 26 percent of all U.S. consumer payments by number (volume share) from 2008 to 2015, according to the Survey of Consumer Payment Choice (SCPC), and were essentially unchanged between 2012 and 2015. New estimates from the Diary of Consumer Payment Choice (DCPC) show that the volume share of consumer cash payments is higher than estimated in the SCPC and suggest that the cash volume share was 8 percentage points lower in 2015 than in 2012. The DCPC most likely does not provide an accurate estimate of the actual change in the cash volume share, however, due ...
Research Data Report , Paper 17-6

show more (2)

show more (33)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords