Banking and Payments Research

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

Recent Articles

Payments System Research Briefing

Observations from the Retail CBDCs of the Caribbean

The retail CBDCs launched in the Caribbean are not yet widely used but may offer insight on rCBDC adoption.

Payments System Research Briefing

Market Structure of Core Banking Services Providers

Three core providers dominate the market for core banking systems, which may affect banks’ ability to offer new services.

Research Working Paper

Financial Literacy, Risk Tolerance, and Cryptocurrency Ownership in the United States

Cryptocurrency transactors tend to have lower financial literacy and risk tolerance than crypto investors.

Economic Review

Why Do Net Interest Margins Behave Differently across Banks as Interest Rates Rise?

Banks with declining net interest margins during the 2022–23 tightening cycle were more reliant on capital market funding.

Payments System Research Briefing

Core Banking Systems and Options for Modernization

Many depository institutions need to update their back-end IT “core systems” to offer modern banking services.

Economic Bulletin

Interest Expenses on Farmland Debt Could Challenge Farm Profitability

Crop producers with high levels of land debt may struggle to be profitable under higher interest expenses.