TheEconomists
PrintReserve 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.
By Section All Sections
- Payment System Studies
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.
Gaetano Antinolfi
Senior Economist
Payment System Studies
Reserve Bank Operations and Payment Systems
Francesca Carapella
Economist
Payment System Studies
Reserve Bank Operations and Payment Systems
Geoffrey R. Gerdes
Senior Economist
Payment System Studies
Reserve Bank Operations and Payment Systems
May X. Liu
Statistician
Payment System Studies
Reserve Bank Operations and Payment Systems
Jeffrey Marquardt
Deputy Director
Payment System Studies
Reserve Bank Operations and Payment Systems
David C. Mills
Chief
Payment System Studies
Reserve Bank Operations and Payment Systems
Travis D. Nesmith
Senior Economist
Payment System Studies
Reserve Bank Operations and Payment Systems
