Fed to Study Check, Electronic Payments

Throughout 2001, the Fed will be conducting three new studies, which are part of the Check and Electronic Payments Research Project. This effort reinforces the Fed's commitment to improving the nation's evolving payments system.

More than 2,500 financial institutions will supply data as part of the following studies:

  • The Depository Financial Institution Check Study, which will gather information on the total volume and value of checks processed.
  • The Check Sample Study, which will measure transaction usage between categories such as consumers-to-business, business-to-business and other broad payer categories.
  • The Electronic Payment Instruments Study, which will count the number of electronic and card-based payments originated.

According to Richard Oliver, Atlanta FRB senior vice president and the Fed System's manager for retail payments, "A summary of the data will be shared widely with the financial services industry, as well as the general public, to provide industry decision-makers and other interested parties with information to support their planning for future payment-system infrastructure modifications."

More information regarding the studies can be found on our Financial Services Internet site, www.frbservices.org.

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