Research Staff and Resources

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The Division of Reserve Bank Operations and Payment Systems

Payment System Studies

The Payment System Studies section is the division's primary research arm. The program analyzes policy issues associated with emerging and established payment mechanisms and disseminates information on payment and settlement systems and issues. The section undertakes original research into longer-range payment and settlement topics, including the interrelationships among systems, long-run technological trends and their economic and risk implications, systemic risk, and interbank and correspondent banking relationships.

The section's staff helps formulate Federal Reserve payment and settlement policy. It also supports the Bank for International Settlements' Committee on Payments and Settlement Systems with analyses and information regarding the ways that central banks can foster improved arrangements for cross-border and multicurrency payments and settlement services.