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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
SIC: Switzerland's new electronic interbank payment system
It is an article of faith among American bankers and their regulators that some daylight overdrafts are necessary to the efficient functioning of large-dollar wire transfer systems. But the Swiss have injected an element of doubt by developing a system that does away with daylight overdrafts. Their new system processes a payment only if sufficient clearing funds are on deposit in the sending banks reserve account. If sufficient funds are not available, the payment is held in a queue until covering funds have arrived. Vital and Mengle describe the first eighteen months of the systems operation.
Journal Article
Intraday credit: risk, value, and pricing
An abstract for this article is not available
Journal Article
Payment system risk issues
A discussion of international, domestic, pricing, and operational aspects of electronic payment system risk, with a description of proposals for managing the risk and for reducing Federal Reserve exposure.
Journal Article
Daylight overdrafts and payments system risk