Research Staff and Resources

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The Division of Reserve Bank Operations
and Payment Systems

One of the primary missions of the Board of Governors of the Federal Reserve System is to regulate and improve the nation's payment system, which transmits each business day more than $3 trillion to pay for goods, services, and financial instruments.

As part of that mission, the Board's Division of Reserve Bank Operations and Payment Systems oversees the policies and operations of the Federal Reserve Banks as providers of financial services to depository institutions and as providers of fiscal agency services to the U.S. Treasury and other government agencies.

The division also develops policies and regulations to foster the integrity and efficiency of the U.S. payment system, works closely with other central banks and international organizations to improve the payment system more broadly, and conducts research and studies on various payment issues.