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Bank:Federal Reserve Bank of Chicago  Series:Emerging Issues 

Journal Article
Electronic bill payment and presentment: a primer

Electronic bill payment and presentment (EBPP) services are a core component of many financial institutions' on-line banking offerings. This paper discusses the laws (state and federal), regulations, and regulatory guidance generally applicable to EBPP services offered through financial institutions. Particular emphasis is given to (i) the Electronic Fund Transfer Act and Regulation E (including provisions relevant to dispute resolution, liability for unauthorized transactions, and electronic disclosure) and (ii) regulatory guidance with respect to outsourcing arrangements in connection with ...
Emerging Issues , Issue Dec

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
A peek at the examiners playbook phase III

Emerging Issues , Issue May

Journal Article
Stumbling blocks to increasing market discipline in the banking sector: a note on bond pricing and funding strategy prior to failure

Emerging Issues , Issue Sep

Journal Article
The changing character of liquidity and liquidity risk management: a regulator's perspective

Emerging Issues , Issue Apr

Journal Article
Price risk management creates unique credit issues

Emerging Issues , Issue Aug

Journal Article
The role of financial advisors in merger and acquisitions

This paper looks at the role of commercial banks and investment banks as financial advisors. Unlike some areas of investment banking, commercial banks have been allowed to compete directly with traditional investments banks in this area. In their role as lenders and advisors, banks can be reviewed as serving a certification function. However, banks as lenders and advisors also have a potential conflict of interest that may mitigate their certification function. Overall, it is found that the certification effect dominates the conflict of interest effect and that the certification effect is ...
Emerging Issues , Issue Feb

Journal Article
Weighting for risk

Emerging Issues , Issue Apr

Journal Article
Merger advisory fees and advisor's effort

Emerging Issues , Issue Dec

Journal Article
The importance of payments-driven revenues to franchise value and in estimating bank performance

This paper examines how the production of payment services impacts the franchise value of banks. It also explores whether analysis are incorrectly measuring the performance of the banking sector and failing to realize the full importance of payments-driven revenues to banks. In initial empirical analysis, we find limited evidence to suggest that higher payments-driven revenues are associated with higher franchise value. We find, also, that estimates of productive efficiency change dramatically for a small number of banks heavily involved in payments services. We find evidence to suggest that ...
Emerging Issues

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