Research staff analyze domestic and international payments systems as well as the banking industry.

Banking and Payments Research

Recent Articles

Research Working Paper

Capital Controls and the Global Financial Cycle

Emerging markets have an incentive to tighten capital inflow controls during periods of international financial distress.

Research Working Paper

Shadow Insurance? Money Market Fund Investors and Bank Sponsorship

Investors in prime institutional money market funds paid higher expense ratios and received lower net yields as compensation...

Economic Review

Cash or Debit Cards? Payment Acceptance Costs for Merchants

Debit cards have been more costly for U.S. merchants to accept than cash; the reverse is true for merchants in other countries.

Payments System Research Briefing

Digital, Financial, and Health Insurance Exclusion Experienced by Low-Income Households

Low-income households are more likely to lack home internet access, bank accounts, and health insurance.

Payments System Research Briefing

Déjà Vu All Over Again: What the Return of Private Currencies Could Mean for Central Banks

Private digital currencies, or “crypto-assets,” present familiar challenges for central banks.

Payments System Research Briefing

Are Contactless Payments Finally Poised for Adoption?

Demand for contactless payments increased during the COVID-19 pandemic.

Banking and Payments Resources

Payments Resources

Policy Perspectives
Policy Perspectives are written by Esther George, president and CEO of the Kansas City Fed. In this occasional publication series, she discusses issues related to the Federal Reserve’s role in payments, banking supervision and monetary policy. 

Payments System Research Briefings
Our briefings cover payments methods, developments in payments networks, and various participants' roles in the payments system.

Payments System Research Working Papers
Our paper topics include payments methods, developments in payments networks and various participants' roles in the payments system.

Interchange Fees
An annual update of credit and debit card interchange fees in various countries, regulatory developments in the payment card markets, and trends in interchange fees assessed to U.S. merchants.

Payment Conferences Proceedings
Our international payments policy conferences focus on timely and important topics.

PDFGuide to ATM and Debit Card Industry - 2006 Update
This book is a 2006 update that documents industry trends and patterns and discusses their implications.

PDFGuide to ATM and Debit Card Industry
This book provides an overview of the history and development of the ATM and debit card industry, details the mechanics of ATM and debit transactions, reviews trends in ATM and debit transaction volume and pricing, and discusses industry and public policy issues.

PDFNonbanks in the Payments System
This book examines nonbank participation of payments activities and the roles nonbanks play in specific transaction types.

Banking Resources

Small Business Lending Survey
Quarterly collection of quantitative and qualitative information that can be used to understand credit market conditions for bank lending to small businesses.

Bank Capital Analysis
The Bank Capital Analysis provides a horizontal comparison of capital adequacy among banking organizations with different risk profiles.