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August 21, 2023
On the web
Cryptocurrency Ownership During a Crypto Winter: Effects of a Downturn on Consumer Attitudes to Crypto
Federal Reserve Bank of Philadelphia
"In January 2022, the Consumer Finance Institute (CFI) at the Federal Reserve Bank of Philadelphia, in conjunction with economists from the Federal Reserve Board, conducted a survey to establish a baseline understanding of the penetration that cryptocurrencies have achieved among consumers."
August 17, 2023
On the web
Bank of America Assesses Significance of Paypal's USD Stablecoin and Fednow System
Bitcoin News
"Bank of America has provided its analysis of Paypal’s U.S. dollar stablecoin and the Fednow payments system."
August 16, 2023
On the web
Global Data Tracks Decade-Long Decline in Check Payments
Atlanta Fed
"From around the world, we have more evidence that people are shifting from checks to other means of noncash payments. Using data from the Bank for International Settlements (BIS), my Atlanta Fed colleagues Antar Diallo and Oz Shy found that from 2012 to 2021, in all 20 countries they examined, the number of checks declined as the number of cashless payments increased."
August 15, 2023
On the web
Modernizing the Cash Supply Chain with the FedCash® E-Manifest Service [Video]
FRB Services
"Today, the United States cash supply chain is largely a paper-based operation, reliant on manual data entry. Watch the video below on the Federal Reserve’s E-Manifest Service, which electronically processes currency deposits and orders between financial institutions and armored carriers that work directly with the Federal Reserve."
August 11, 2023
On the web
US Federal Reserve Issues Stablecoin Warning to Banks
CoinGeek
"The U.S. Federal Reserve, the central bank of the United States and the country’s chief banking sector regulator, has issued an announcement warning any state banks dealing with digital asset “Dollar Tokens,” or stablecoins, to obtain a written “supervisory nonobjection” from the Federal Reserve (Fed) before issuing, holding or transacting in them."
August 10, 2023
On the web
Q&A with Daniel Sanches on Digital Currency: The Other Side of the Coin
Federal Reserve Bank Philadelphia
"Economist Daniel Sanches has been researching digital currency and the market effects of central bank digital currency on countries currently exploring this possibility. In this Q&A, he shares key research insights and points to our new Digital Currency Center."
August 9, 2023
On the web
Federal Reserve Board Provides Additional Information on Its Program to Supervise Novel Activities in the Banks it Oversees
Board of Governors of the Federal Reserve System
"The Federal Reserve Board on Tuesday provided additional information on its program to supervise novel activities in the banks it oversees. Novel activities include complex, technology-driven partnerships with non-banks to provide banking services to customers; and activities that involve crypto-assets and distributed ledger or "blockchain" technology."
August 8, 2023
On the web
Total Household Debt Reaches $17.06 Trillion in Q2 2023; Credit Card Debt Exceeds $1 Trillion
New York Fed
"The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows a slight uptick in total household debt in the second quarter of 2023, increasing by $16 billion (0.1%) to $17.06 trillion."
August 4, 2023
On the web
FedNow Safeguards Aimed at Helping Banks Control Outflows
SPS Global
"The launch of FedNow, an around-the-clock real-time payment network, came with liquidity management safeguards designed to help depositories protect against large, instant outflows that have the potential to exacerbate trouble at an institution that is facing stress."
July 27, 2023
On the web
Get Access to the FedNow Service Via Plaid Transfer
Plaid
"We are excited to announce plans to support the FedNow Service®, another important milestone as we move toward mainstream use of instant, native bank payments in the U.S. Moving money faster matters - whether it's a cash advance, payroll to cover necessary expenses or an emergency withdrawal, and is a step towards our mission of unlocking financial freedom for everyone."
July 21, 2023
Top Post
Better Late Than Never: Federal Reserve Platform Will Finally Bring Instant Payments To More Banks–And Customers
Forbes
"After a decade of study and development, the Federal Reserve today finally launched FedNow, a system that could eventually mean businesses and consumers have near instant access to payments (including paychecks) and money moved between financial accounts."
July 20, 2023
On the web
Federal Reserve Announces that its New System for Instant Payments, the FedNow® Service, is Now Live
Board of Governors of the Federal Reserve System
"The Federal Reserve on Thursday announced that its new system for instant payments, the FedNow® Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of the day, on any day of the year."
July 14, 2023
On the web
Connecting the Dots: How Adoption of Instant Payments Can Lead to a More Inclusive Economy
Atlanta Fed
"We examine how instant payments are an essential component of increasing financial inclusion. We explore how the Federal Reserve System, together with the private and public sector, is encouraging widespread adoption of instant payments because of their potential to help improve financial inclusion across a broad range of demographics and circumstances."
July 13, 2023
On the web
Technology Used in Fed Reserve DLT Trial is Spun Out as LedgerSwarm
Ledger Insights
"Last week the Regulated Liability Network (RLN) shared the results of a DLT proof of concept for payments with the Federal Reserve Bank of New York and ten institutions including BNY Mellon, Citi, HSBC, Mastercard and Swift. SETL was one of the main technology providers to the project alongside Digital Asset and is spinning out the SETL RLN Protocol software as a standalone project and company, LedgerSwarm, which will be separately funded."
Banks Can Manage Outflow Risk in Fed's New Payment Service System, Mester Says
Reuters
"Cleveland Federal Reserve President Loretta Mester said on Wednesday that the U.S. central bank's new real-time money moving system is being designed in a way that should help ensure financial stability should bank stress arise."
July 6, 2023
On the web
Research Study Examines Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
New York Fed
"The Federal Reserve Bank of New York's New York Innovation Center (NYIC), in collaboration with members of the U.S. financial services sector, published the findings of a proof of concept (PoC) that explored the feasibility of an interoperable network for wholesale payments operating on a shared multi-entity distributed ledger."
June 29, 2023
Top Post
Announcing Organizations Certified as Ready for the FedNow® Service
Federal Reserve
"On June 29, 2023, the Federal Reserve announced that 57 early adopter organizations, including financial institutions and service providers, had completed formal testing and certification on the FedNow Service in advance of its launch in late July. Many of these organizations will be live when the FedNow Service launches or shortly after, with financial institutions ready to send and receive transactions and service providers ready to support transaction activity."
June 26, 2023
On the web
The 2022 Federal Reserve Payments Study in Four Charts
Federal Reserve Bank of Atlanta
"Today, the numbers can do the talking about noncash payments in 2021. The chart below shows the value of noncash payments from the first measurement year of the Federal Reserve Payments Study, 2000, to the latest, 2021."
June 19, 2023
On the web
FedNow Launch is Just Weeks Away: Is Finance Ready to Process More Real-Time Payments?
Resourceful Finance Pro
"Compared to the rest of the world, the U.S. has lagged behind in rapid B2B payments technology, but that’s about to change. The Federal Reserve’s FedNow service is coming soon!"
Federal Reserve Board Publishes a Database of Financial Institutions with Access to, or Requests to Access, Federal Reserve Bank Master Accounts and Services
Federal Reserve
"To promote transparency, the Federal Reserve Board on Friday published a database of financial institutions with access to, or requests to access, Federal Reserve Bank master accounts and services. The database is consistent with the requirements set forth in legislation enacted last year and will be updated on a quarterly basis."
June 13, 2023
On the web
B2B Payments Experts Launch Digital Business Networks Alliance
FedPayments Improvement
"The Business Payments Coalition (BPC) and Federal Reserve Financial Services have been working to improve the efficiency of how supporting information for business-to-business (B2B) payments is delivered and processed."
June 9, 2023
On the web
Agencies Issue Final Guidance on Third-Party Risk Management
Board of Governors of the Federal Reserve System
"Federal bank regulatory agencies today issued final joint guidance designed to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology companies."
May 26, 2023
On the web
XRP Acknowledged by Atlanta Fed Reserve Bank for International Payments
TronWeekly
"The Atlanta branch of the United States Federal Reserve Bank recently brought focus to Ripple’s operational framework and its utilization of XRP to fulfill requirements for cross-border settlements. As per the Reserve Bank, XRP is regarded as a “global payment medium.”"
On the wires
Federal Reserve Surveys: U.S. Businesses, Consumers Want Faster Payment Options to Help Navigate Evolving Needs
Business Wire
"Facing a dynamic and increasingly on-demand, online environment, a majority of businesses (83%) and consumers (75%) are already using faster payments, and most (66% of businesses and 61% of consumers) say they are likely to use faster payments more often in the future, according to new studies released today by the Federal Reserve."
May 19, 2023
On the web
New York Fed and Monetary Authority of Singapore Publish Results of Joint Wholesale Cross-Border Payments Research Study
New York Fed
"The Federal Reserve Bank of New York’s New York Innovation Center (NYIC) and the Monetary Authority of Singapore (MAS) today published a research report detailing the results of the joint Project Cedar Phase II x Ubin+ (Cedar x Ubin+) experiment. The Cedar x Ubin+ experiment examined whether distributed ledger technology (DLT) could be used to improve the efficiency of cross-border wholesale payments and settlements involving multiple currencies."
May 12, 2023
On the web
FedNowSM Service Illustration Video
FedNow
"Watch an example of how financial institutions can enable their customers to access instant payments through the FedNow Service. In this video, you’ll see a business customer immediately pay a supplier using their financial institution’s online interface. You’ll also get a look at what’s happening between the sender’s and receiver’s financial institutions when a payment is made over the service."
May 4, 2023
On the web
FedNowSM Service Technical Overview and Planning Guide
FedNowSM
"The FedNow Service is an interbank, 24x7x365 real-time gross settlement service with integrated clearing functionality. This resource, designed to help financial institutions make decisions about adopting the service, provides an overview of the technical aspects of the service and related considerations."
April 28, 2023
On the web
Federal Reserve Board Announces the Results From the Review of the Supervision and Regulation of Silicon Valley Bank, Led by Vice Chair for Supervision Barr
Board of Governors of the Federal Reserve System
"The Federal Reserve Board on Friday announced the results from the review of the supervision and regulation of Silicon Valley Bank, led by Vice Chair for Supervision Michael S. Barr. The review finds four key takeaways on the causes of the bank's failure..."
April 24, 2023
On the web
Payments Study Reports Unprecedented Growth in ACH Payments Value
Federal Reserve Bank of Atlanta
"Late last week, the Federal Reserve Payments Study 
(FRPS) announced unprecedented growth in the dollar value of ACH (automated clearing house) payments from 2018 to 2021: 12.7 percent per year. This is the highest rate of growth by value for ACH over all the years for the FRPS."
(FRPS) announced unprecedented growth in the dollar value of ACH (automated clearing house) payments from 2018 to 2021: 12.7 percent per year. This is the highest rate of growth by value for ACH over all the years for the FRPS." April 21, 2023
On the web
The Federal Reserve Payments Study: 2022 Triennial Initial Data Release
Federal Reserve
"The 2022 Federal Reserve Payments Study (FRPS) collected data for the 2021 calendar year. This initial release includes top-line figures for the core noncash payment methods used in the United States by consumers, businesses, and governments, including payments by general-purpose and private-label cards, automated clearinghouse (ACH) transfers, and checks. This release also covers automated teller machine (ATM) cash withdrawals. Wire transfers, used primarily for large financial transactions, are excluded from these data."
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