The Federal Reserve Board employs more than 500 researchers, including more than 400 Ph.D. economists, who represent an exceptionally diverse range of interests and specific areas of expertise. Board researchers conduct cutting edge research, produce numerous working papers and notes, and are among the leading contributors at professional meetings and in major journals. Our researchers also produce a wide variety of economic analyses and forecasts for the Board of Governors and the Federal Open Market Committee.

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Field of Interest:
Division:

Reserve Bank Operations and Payment Systems

The 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. In addition, as part of the Board's enhanced program for the supervision and oversight of payment systems, central securities depositories, securities settlement systems, central counterparties, and trade information warehouses, the division participates directly in the supervision of financial market infrastructures that are designated as systemically important by the U.S. Financial Stability Oversight Council as well as in more general oversight activities relating to domestic and foreign financial market infrastructures. The division also develops policies and regulations to foster the integrity and efficiency of the U.S. payment and financial system; works closely with other regulators, central banks, and international organizations to improve the payment and financial system more broadly; and conducts research on various topics related to payment and clearing issues and financial market infrastructures.

Section:
Program Direction
Job Role:
E
Photo of Matthew J. Eichner
Matthew J. Eichner Director Program Direction
Reserve Bank Operations and Payment Systems

M
Photo of Mark D. Manuszak
Mark D. Manuszak Deputy Associate Director Program Direction
Reserve Bank Operations and Payment Systems
Photo of David C. Mills
David C. Mills Senior Associate Director Program Direction
Reserve Bank Operations and Payment Systems

N
Photo of Travis D. Nesmith
Travis D. Nesmith Assistant Director Quantitative Risk Analysis
Reserve Bank Operations and Payment Systems
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Last Update: June 17, 2024