Payments & Policy

We have added to the body of work in the field of payment economics, drawing upon the techniques and insights of both monetary and banking theory. Various payments systems have been examined, including cash, checks, credit and debit cards, and electronic funds transfers. In addition, we have examined the involvement of central banks in the operation and regulation of payments clearing and settlement.

August 1989, No. 90-2 (Revised Dec. 1989)

Limited Commitment and Costly Enforcement

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

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Richmond

Research Department
(804) 697-8000