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Bank:Federal Reserve Bank of Chicago  Series:Emerging Issues 

Journal Article
Why invest in payment innovations?

In this paper, we provide a framework to study the creation and adoption of innovations by payment providers and processors. We identify several motivating factors for banks and nonbanks to invest in payment innovations. In addition, we discuss the evolutionary process of payment innovations from inception to commoditization recognizing that innovations differ in the time necessary to evolve from proprietary technology to commodization and some may never evolve completely. Finally, we consider a snapshot of payment innovations at different stages of development. We compare proprietary versus ...
Emerging Issues , Issue Jun

Journal Article
Why has stored value not caught on?

Why have general-purpose stored-value cards been unsuccessful in penetrating the U.S. market? Three necessary conditions for a payment instrument to be successful are discussed: consumers and merchants need to be convinced of its advantages over existing payment alternatives for at least some types of transactions; payment providers must convince consumers and merchants simultaneously of its benefits to achieve critical mass; and assure them that adequate safety and security measures have been implemented. This article discusses the credit card industry's success in meeting these necessary ...
Emerging Issues , Issue May

Journal Article
Questions every banker would like to ask about private banking and their answers

Emerging Issues , Issue May

Journal Article
A peek at the examiners playbook phase III

Emerging Issues , Issue May

Journal Article
Do market react to bank examination ratings? evidence of indirect disclosure of management quality through BHCs' application to convert to FHC

Emerging Issues , Issue Oct

Journal Article
Price risk management creates unique credit issues

Emerging Issues , Issue Aug

Journal Article
Estimating the volume of payments-driven revenues

This paper estimates the volume of payments-driven revenues at the top 40 domestic BHCs and builds on the statistical summaries that Radecki (1999) compiles from the top 25 BHCs in 1996. We replicate Radecki's 1996 results, but find that they overstate payments-driven revenues by including entire revenue sources that are not entirely payments-driven. We offer a modified definition of payments-driven revenue and re-estimate BHC payments-driven revenue for the top 40 BHCs. Our modified estimation method suggests that on average 16 percent of the operating revenue of the top 40 BHCs is derived ...
Emerging Issues

Journal Article
Pooled trust preferred stock -- a new twist on an older product

Emerging Issues , Issue Mar

Journal Article
Conglomerates, connected lending and prudential standards: lessons learned

Emerging Issues , Issue May

Journal Article
Weighting for risk

Emerging Issues , Issue Apr

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