Thoughts on the Fed's role in the payment system

Edward Green and Richard M. Todd

Quarterly Review, 2001, vol. 25, issue Win, 12-27

Abstract: This essay concerns how the Federal Reserve?s role as a payment services provider can best be aligned with its broad mission to foster the integrity, efficiency, and accessibility of the U.S. payments system. A recommended strategy involves specialization in providing services where the central bank has a comparative advantage?notably, services directly related to providing a comprehensive, secure system of accounts for interbank settlement and potentially some additional services justified by economies of scope. If markets for other payment services evolve as expected, the recommended strategy would have the Fed generally rely on means other than direct service provision to help ensure that services are provided effectively and equitably. Several specific implications of this strategy are suggested. This essay also appeared in the ?Federal Reserve Bank of Minneapolis 2000 Annual Report,? which was published in the April 2001 issue of the Bank?s magazine The Region.

Keywords: Payment; systems (search for similar items in EconPapers)
Date: 2001
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://minneapolisfed.org/research/qr/qr2512.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Unavailable (http://minneapolisfed.org/research/qr/qr2512.pdf [301 Moved Permanently]--> https://minneapolisfed.org/research/qr/qr2512.pdf [301 Moved Permanently]--> https://www.minneapolisfed.org/research/qr/qr2512.pdf [301 Moved Permanently]--> https://researchdatabase.minneapolisfed.org/downloads/t722h8949)
http://minneapolisfed.org/research/qr/qr2512.html (text/html)
Our link check indicates that this URL is bad, the error code is: 503 Service Unavailable (http://minneapolisfed.org/research/qr/qr2512.html [301 Moved Permanently]--> https://minneapolisfed.org/research/qr/qr2512.html [301 Moved Permanently]--> https://www.minneapolisfed.org/research/qr/qr2512.html [301 Moved Permanently]--> https://researchdatabase.minneapolisfed.org/downloads/t722h8949)

Related works:
Journal Article: Thoughts on the Fed's role in the payments system (2001)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedmqr:y:2001:i:win:p:12-27:n:v.25no.1

Access Statistics for this article

More articles in Quarterly Review from Federal Reserve Bank of Minneapolis Contact information at EDIRC.
Bibliographic data for series maintained by Kate Hansel ().