 Nonbanks in the payments systemTerri Bradford, Matt Davies and Stuart E. Weiner No PSR WP 02-02, Payments System Research Working Paper from Federal Reserve Bank of Kansas City Abstract: Nonbanks have always been a key component of the nation's payments system. In recent years, however, nonbanks have become even more prominent. This heightened visibility raises several questions. In which payments activities are nonbanks engaged? What roles do nonbanks play in specific payments types? What types of risk are potentially associated with nonbank participation? This paper begins to address these questions. Preliminary findings include: (1) Nonbanks are involved in a myriad of activities and roles, both in traditional and emerging payments types; (2) Nonbank business relationships with banks and other participants in the payments systems are often highly complex and interrelated; (3) Nonbanks are rarely directly involved in settlement activities and, hence, appear to be associated with limited settlement and systemic risk; (4) Both nonbanks and banks appear to be increasingly susceptible to operational risk factors. ; Published as a book in 2003. Keywords: Payment systems; Nonbank financial institutions; non-bank activities (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:fip:fedkpw:psrwp02-02 Ordering information: This working paper can be ordered from Access Statistics for this paper More papers in Payments System Research Working Paper from Federal Reserve Bank of Kansas City Contact information at EDIRC. |
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