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Working Papers

March 1979, No. 79-1 (Revised Nov. 1979)

Determinants of Correspondent Banking Relationships with the Federal Reserve System

Bruce J. Summers and John P. Segala

In addition to its central banking responsibilities, the Federal Reserve System also plays an important role in correspondent banking. The twelve Federal Reserve banks supply services, including check collection, wire transfer of funds, provision of currency and coin, and safekeeping of securities to thousands of financial institutions.

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